This latest maneuver marks a significant jump from the 22.9% holding reported by the group during its first-quarter earnings call in April. By securing nearly a third of the Italian lender, Credit Agricole cements its role as a long-term strategic partner rather than a passive investor, aiming to fortify its regional foothold.

While the expansion strengthens its market position, the move carries a quantifiable capital cost. The bank estimates that the increased investment will drag on its CET 1 ratio by approximately 35 basis points by the conclusion of the second quarter of 2026.