Crédit Mutuel wants to double its international revenues

Halfway through its multi-year plan “Ensemble Performant Solidaire”, which covers the period 2024-2027, Crédit Mutuel did not announce any major strategic change during its general meeting in Strasbourg on May 29. In their review of commercial objectives, the managers of the mutual group recognized a certain delay in winning over new customers.

Market shares, particularly in the East of France where Crédit Mutuel has its headquarters, are in good shape (50% in Alsace). But it is internationally, particularly in Germany, that Daniel Baal, its president, intends to intensify activities in retail banking and insurance. « We make 25 % of our revenues internationally, half of which in Germany. The goal is to increase to 50 % of income abroad in ten years »presented Daniel Baal in front of 6,000 network employees and administrators gathered in Strasbourg.

The takeover of the German regional bank OLB (Oldenburgische Landesbank), effective in January 2026, opened an entry door for Crédit Mutuel into the Mittelstand (small and medium-sized enterprises) market. Targobank, purchased in 2008, has one million customers in the country and has a solid financial base with a balance sheet total of 80 billion euros. « We started our bancassurance activities in Germany with ACM Deutschland in July 2025. We cannot yet talk about market shares, but we already have a distribution network and the first contracts have been signed »adds Daniel Baal. This week, the German economic press reported on the group’s new ambitions in the country through external growth. “Germany has become our second domestic marketâ€résume Daniel Baal.