The Big Three of French Banks: Credit Agricole SA (CRARY) (1894)

Credit Agricole SA (OTCMKTS: CRARY, CRARF, Euronext: ACA) was founded in 1894 and is headquartered in Montrouge, France. It has 70,126 full-time employees. It provides retail banking, corporate users, insurance and investment banking products and Services, is a subsidiary of SAS Rue La Boétie. Crédit Agricole is the second largest bank in France after BNP Paribas ( Paris ) and above Societe Generale ( Societe Generale ).

Credit Agricole

Credit Agricole SA (CRARY):

Crédit Agricole, France’s semi-official professional bank, is the second largest in France and the twelfth largest banking group in the world. As of 2016, its total assets valued at US$1.661 trillion, with six regional management centers in Paris, London, Milan, Hong Kong, Singapore and Tokyo. Crédit Agricole has provided financing services for large-scale projects such as the English Channel Cross-sea Tunnel Project and Disneyland Paris .

Crédit Agricole is a mutual aid company. It is not only a financial, commercial and legal group with decentralized decision-making, but also a cooperative group with a three-tier organizational structure. CNCA is the central banking institution of Agricultural Credit Bank and the core of group management and supervision. Its main shareholders are 48 regional banks. The 2672 branches of the regional bank (all in France) are also major shareholders of the regional bank. The relationship between regional banks and groups is carried out through the coordination agency FNCA.

The operation of Credit Agricole is divided into five parts : Asset gathering; French Retail Banking (LCL); International Retail Banking; Specialised Financial Services and major customers (Large customers).

Products and services of Crédit Agricole :

  1. Crédit Agricole provides payment tools, loans, savings products and payment management products and services; and savings/retirement, death and disability/creditor/group and property and accident insurance products.
  2. Crédit Agricole also provides asset management services, including managing asset classes such as stocks, bonds, diversified portfolios, ETFs, index-linked and smart Beta, as well as asset management services for property, private debt, infrastructure and private equity; cash And structured products.
  3. In addition, Credit Agricole SA also provides wealth management services, allowing individual clients to manage, protect and transfer assets; and consumer financing.
  4. In addition, Credit Agricole also provides investment banking, structured financing, international trade financing, commercial banking, capital markets and syndicated services; leasing and factoring services.
  5. In addition, Crédit Agricole also provides asset service solutions for investment products and various asset classes, including execution, settlement, custody, fund management, intermediary office solutions, foreign exchange, stock lending, and fund allocation support and service.

Credit Agricole SA (CRARY) history:

  • In 1885, in order to solve the problem of short-term capital turnover, French farmers established a mutual agricultural credit local treasury.
  • In 1920, the French government established the National Agricultural Credit Administration, which was renamed the National Agricultural Credit Bank in 1926.
  • In 1996, Crédit Agricole Bank of France acquired Indosuez and created the asset management subsidiary Indocam (renamed Crédit Agricole Asset Management in 1999);
  • In 1996, Crédit Agricole Indosuez was acquired for corporate and investment banking.
  • In 1999, the company continued to diversify, acquiring and privatizing Crédit Lyonnais, and acquiring Sofinco, a leading consumer finance company.
  • On December 16, 2002, Crédit Agricole acquired an 82.2% stake in Crédit Lyonnais, the sixth largest bank in France, for 16 billion euros (approximately US$16.5 billion). Crédit Lyonnais currently holds 17.8% of Lyon. Equity, after the merger, it became the largest bank in the Eurozone. Credit Agricole and Societe Generale merged their securities businesses to form a securities company called Newedge Group, each holding 50% of the new company.
  • In 2003, Crédit Agricole acquired Finaref.
  • In 2003, Crédit Agricole acquired Crédit Lyonnais.
  • In 2004, Crédit Lyonnais and Crédit Agricole Indosuez merged to form Calyon.
  • In 2007, Crédit Agricole began to sell shares of Intesa Sanpaolo, which were all sold in 2012.
  • In 2012, Crédit Agricole sold all shares in Intesa Sanpaolo. On January 27, 2009, Rural Credit Bank and Societe Generale agreed to merge the asset management divisions, which will become the fourth largest asset management company in Europe and the ninth largest in the world, with assets under management of up to US$827 billion (EUR 638 billion). This new business entity includes all the asset management businesses of Rural Credit Bank, as well as the European and Asian asset management departments of Industrial Bank, and 20% of the shares of TCW, a US business under Industrial Bank. Rural Credit Bank holds 70% of the shares in the new company after the merger, and Industrial Bank holds the remaining 30%.
  • In March 2014, Crédit Agricole announced its mid-term strategic plan, focusing on retail banking, insurance and savings. Internationally, the group decided to rethink its core market positioning, starting from the group’s second largest market-Italy.
  • Crédit Agricole sold its Bulgarian subsidiary to Corporate Commercial Bank for 160 million euros.
  • On April 22, 2014, Crédit Agricole SA, Crédit Agricole Nord and Crédit Agricole Nord-Est announced the sale of its 50% stake in Crelan SA (a Belgian bank merged by Crédit Agricole Belgique and Centea) to Caisses coopératives belges, which was traded in Completed in June 201.
Notify of
Inline Feedbacks
View all Intels

Pharmaceutical company: Odonate Therapeutics (ODT) (2013)

Molecular therapy company: Denali Therapeutics Inc. (DNLI)