French banking group Credit Agricole has earmarked an investment of €15bn for its IT upgrades in the next four years.

The bank targets €300m in IT efficiency and aims to have a data-centric architecture in 2022 at 90% of the group entities.

Plans are also on to test all emerging technologies for various business lines.

To make its staff well-equipped to manage these technologies, the bank intends to train all its employees at the new IT University.

The bank has set its profit target at more than €5bn by 2022.

It aims revenue synergies of €10bn in 2022, driven by insurance and specialised financial services.

Commenting on its strategy, Credit Agricole said: “Within this new long-term framework, the 2022 strategic plan is a roadmap for profitable growth for Crédit Agricole.

“It builds upon the previous Medium-Term Plan, Strategic Ambitions 2020, which delivered almost all of its financial results a year ahead of schedule.

“It seeks to amplify and accelerate the Group’s growth in an uncertain environment, and in a context of growing societal expectations.”

At the same time, the bank outlined its focus on green financing.

The bank said that it will “commit all the Group’s entities to a common climate strategy, in line with the Paris Agreement”.