Report
BPCE : BPCE shifts into high gear
Barely had 2024 drawn to a close, with strong operating results, and 2025 is off to a flying start with two major announcements: a partnership project in AM with Generali and the launch of a project to merge the IT systems of its two networks. Ambitious and long-term (2030), the new strategic plan, launched last summer, is no less credible – and for good reason, as it is being implemented briskly and a number of major deals have already been announced. These developments will boost the group's revenue base and profitability, and lend credibility to the financial targets set out in the plan for 2026. What's more, the diversity of the full-service banking model and the solid balance sheet of a mutual group allows the group to address uncertainties with confidence. We reiterate our Stable credit opinion. We have adjusted our recommendations.
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Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Carine Maciol
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