French banks facing the risk of ECB fines

Extract from the press book - june 2025

The European Central Bank has just imposed a fine of 7,551,050 euros on Crédit Agricole, following an initial much smaller fine imposed on the Spanish bank Abanca (87,650 euros). This fine could have exceeded 30 million euros for an infraction covering an entire year.

We had indicated this possibility in June 2025 when the fifth edition of the Vérité 40 index was released.

It should be recalled that Axylia calculates a carbon transition risk based on a carbon bill. At the end of the calculation, some companies are given a rating of NA (Not Available) because their CO2 emissions are incomplete or do not reflect an emission level consistent with their sector.

Crédit Agricole, BNP Paribas, Société Générale and Axa are among the financial players lacking transparency.

In other sectors, Accor, Eurofins Scientific, Publicis and ST Microelectronics also lack transparency, particularly on scope 3.

We concluded that an NA Carbon Score was equivalent to a controversy score. NA scores represent 12% of the market capitalization of the Paris stock exchange, which is nearly 250 billion euros