| Valuation method | Value, € | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 773.06 | 428 |
| Intrinsic value (DCF) | 191.37 | 31 |
| Graham-Dodd Method | 537.05 | 267 |
| Graham Formula | 130.61 | -11 |
Caisse Régionale de Crédit Agricole Mutuel de Normandie-Seine Société coopérative (CCN.PA) is a regional cooperative bank operating under the Crédit Agricole Group, one of France's largest banking networks. Headquartered in Bois Guillaume, France, the bank provides a comprehensive suite of financial services, including savings accounts, credit products, insurance (property, personal, life, and pension), factoring, real estate promotion, and specialized funding solutions. Serving individuals, professionals, farmers, and businesses in the Normandy-Seine region, the bank benefits from the strong brand recognition and cooperative structure of the Crédit Agricole network, which emphasizes local decision-making and customer-centric services. As part of the broader Crédit Agricole system, CCN.PA leverages shared infrastructure and resources while maintaining regional autonomy. The bank plays a vital role in supporting regional economic development, particularly in agriculture and small-to-medium enterprises (SMEs). With a market capitalization of approximately €105.9 million, it remains a key player in France's regional banking sector.
CCN.PA presents a stable investment opportunity within the regional banking sector, supported by its affiliation with the Crédit Agricole Group and its cooperative structure, which fosters customer loyalty and long-term stability. The bank's diversified product offerings, including insurance and specialized funding, provide multiple revenue streams. However, its regional focus limits growth potential compared to national or international banks, and its net income of €78.7 million (FY 2024) reflects modest profitability. The bank's low beta (0.608) suggests lower volatility relative to the market, appealing to risk-averse investors. A dividend yield of approximately 3.27 EUR per share adds income appeal, but investors should monitor France's economic conditions, regulatory changes, and competitive pressures in regional banking.
CCN.PA operates in a highly competitive regional banking landscape dominated by other Crédit Agricole regional banks and larger French financial institutions. Its competitive advantage lies in its cooperative model, which fosters strong customer relationships and local market expertise. Unlike national banks, CCN.PA benefits from decentralized decision-making, allowing tailored solutions for regional clients, particularly in agriculture and SME financing. However, its regional focus also limits scalability compared to national competitors like BNP Paribas or Société Générale, which have broader geographic reach and more diversified revenue streams. The bank's affiliation with Crédit Agricole provides shared technological and operational efficiencies but may dilute its individual brand identity. While its net income and operating cash flow (€33.1 million in FY 2024) indicate stable performance, its growth prospects are constrained by the maturity of the French banking market and increasing digital competition from neobanks. The lack of total debt is a strength, but the bank must continue investing in digital transformation to remain competitive against larger peers with greater IT budgets.