French bank Credit Agricole SA (PA:CAGR) expects profit growth of more than 3% per year until 2022, according to the bank’s new medium-term development plan until 2022, which includes measures to simplify the group’s capital structure.

Return on tangible capital, a key indicator of profitability, is expected to exceed 11%, with net profit increasing by more than 3% annually and above 5 billion euros at the end of the planning period, Credit Agricole said in a press release.

The bank also aims to have a cost-to-income ratio (CIR) of below 60% by 2022 and a Core Tier 1 capital adequacy of 11%.

In addition, Credit Agricole intends to continue implementing measures aimed at simplifying its capital structure. This, according to the bank, should have a positive impact on earnings per share. Over the next four years, the group plans to invest about 15 billion euros in technological transformation.

Credit Agricole has achieved most of the goals set within the medium-term development plan until 2019, which was announced in 2016, ahead of schedule.

Credit Agricole’s capitalization has increased by 10.2% since the beginning of the year and is estimated at 28,5 billion euros.