CCF’s Adjusted Net Income Rises to €122 Million in 2025
Key Facts
CCF Group’s adjusted net income was about €122 million in 2025, compared with €38 million in 2024, according to the group’s annual investor presentation. The measure excludes exceptional items, making it different from net income reported in the financial statements. The group reported a net loss of €575 million in 2025, after reporting a profit of €2.252 billion the previous year. The investor presentation attributed the 2024 profit to the acquisition gain. The comparison thus shows a significant difference between the adjusted operating result and the reported figure, which was affected by the acquisition item in the previous year.
In the first quarter of 2026, the group’s net banking income was €218 million, compared with €200 million in the same period of 2025, according to its quarterly results presentation. Adjusted net income rose to €64 million from €20 million in the first quarter of the previous year. The two figures offer different views of performance: net banking income measures banking revenue, while adjusted net income excludes exceptional items. These results follow a year in which adjusted profit diverged from the reported result. The first-quarter presentation allows a comparison with the corresponding period, but the available materials do not include subsequent figures for 2026.
The CCF brand dates back to a bank founded in Paris in 1917, and today describes itself as a French wealth management bank. HSBC Continental Europe completed the sale of its retail banking business in France to CCF on January 1, 2024. CCF was a subsidiary of My Money Group, which is controlled by funds and accounts managed or advised by Cerberus Capital Management, according to an HSBC disclosure. The sale also included HSBC’s 100% stake in HSBC SFH (France), which became wholly owned by CCF. The company’s name changed to CCF SFH effective January 1, 2024, in conjunction with the completion of the deal.
In its first-half 2025 results presentation, the group outlined an operational transformation plan that included the departure of about 1,200 employees in three phases by the end of 2026. The plan also included the closure of 67 of 235 branches. These measures put the scale of the announced restructuring in the context of the group’s performance, without the available presentation specifying its final financial impact. Separately, France’s real gross domestic product fell 0.1% in the third quarter of 2026, after being unchanged in the second quarter, according to the French National Institute of Statistics and Economic Studies. The available data do not link this decline to the group’s plan or results.
French exports fell 1.7% in the third quarter of 2026, after rising 2.8% in the previous quarter, according to the institute. Net foreign trade made a negative contribution of 0.6 percentage point to GDP growth, after a positive contribution of 0.6 percentage point in the second quarter. Meanwhile, household consumption accelerated to 0.4% from 0.2%, while gross fixed capital formation fell 0.6% after declining 0.5%. The institute is scheduled to publish detailed third-quarter GDP figures on November 27, 2026. It has also set January 29, 2027, for publication of the initial estimate for the fourth quarter.