Crédit Agricole SA
Credit Agricole is a French holding company, which offers banking, financial and insurance services through its subsidiaries. It caters to retail and corporate customers, banks and financial institutions, govt agencies, and local authorities. The group operates in France (54.1%); Europe (33.2%); North America (5.7%); Japan (1.7%); Asia and Oceania (2.5%); Africa and Middle East (2.5%); Central and South America (0.3%).ref Activities are through the following sectors:
- 31%: Retail Banking: activities in France (58.4%); activities abroad: 41.6%; 1,700 agencies under the Crédit Lyonnais corporate name.
- 27.6%: Finance, Investment, Market Banking (Crédit Agricole CIB), financing for acquisitions, projects, aeronautical and maritime assets, etc., stock operations, consulting in mergers and acquisitions, investment capital, etc.;
- 27.3%: Asset Management, Insurance, Private Banking;
- 14.1%: Specialized Financial Services: Factoring; Crédit Agricole Leasing & Factoring), consumer loan (Crédit Agricole Consumer Finance; and Leasing; Crédit Agricole Leasing & Factoring.
SAS Rue La Boétie is a simplified joint stock company that owns all of the Crédit Agricole shares held by the Regional Banks. It also operates as an investment advisory company, offering portfolio management and financial planning services.ref
The Fédération nationale du Crédit Agricole is the "sounding board" for the Regional Banks and provides a forum for discussing the Group’s strategic vision and policies.
Financing Fossil Fuels:[1]
Tar Sands: $135m
Arctic Oil: $329m
Offshore: $3.08bn
Fracking: $517m
LNG Export: $562m
Coal Mining: $168m
Coal Power: $596m
Company
- 55.9% SAS Rue la Boétie (see diagram)
- 4.51% Crédit Agricole SA Employee Stock Ownership Plan
- 1.65% Norges Bank Investment Management
- 1.17% Vanguard Group Inc
- 0.98% BNP Paribas Asset Management
- 0.77% DNCA Finance SA
- 0.73% Société Générale SA#Lyxor International Asset Management SAS[1]
- 0.59% BlackRock Fund Advisors
- 0.57% Templeton Global Advisors Ltd
- 0.43% Caixabank Asset Management SGIIC SA
Operations
- Retail Banking
- 39 Crédit Agricole Caisses régionales
- Crédit Agricole in Italy, Serbia, Romania, Poland, Ukraine, Egypt, Morocco
- BforBank, 100% online bank
- LCL Bank and Insurance
- Insurance & Real Estate
- Crédit Agricole Assurances, insurance products[2]
- Crédit Agricole Protection & Sécurité, security services through 4 subsidiaries: Nexecur Protection, Nexecur Assistance, banking Nexecur Sécurité and Telsud.
- La Médicale, healthcare professionals assurance
- UAF life Patrimoine, life insurance
- Crédit Agricole Immobilier, real estate
- Square Habitat, network of real-estate agencies
- Lending
- Crédit Agricole Consumer Finance, consumer credit[3]
- Wafasalaf, consumer finance[b]
- Agos Ducato (Italy), consumer credit[4]
- Credibom (Portugal), consumer credit
- Crédit Agricole Consumer Finance Nederland BV, consumer credit
- Findio Nederland, online loans
- Interbank, consumer finance
- Creditplus Bank (Germany), consumer credit
- Sofinco, consumer credit brand
- GAC Sofinco AFC, auto loans[a]
- FCA Bank, auto loans
- CA Grands Crus, vineyard finance
- Crédit Agricole Leasing & Factoring, leasing contracts, factoring
- Eurofactor, factoring
- Lixxbail, leasing financing
- EFL Leasing (Poland), leasing finance
- Investment, Private & Corporate Banking
- Crédit Agricole Corporate & Investment Bank, corporate and institutional clients
- CACEIS, asset management services
- LCL Private Bank
- Crédit Agricole Private Banking
- Indosuez Wealth Management, global wealth management
- CFM Indosuez Wealth Management, Monaco wealth management
- Crédit Agricole Capital Investissement & Finance, shareholder investments
- SODICA Corporate Finance, financial and stock market engineering
- IDIA Capital Investissement, property investment funds[5]
- Amundi (69.9%), publicly-traded asset manager.
- CPR Asset Management, fund management.
- Other
- Crédit Agricole Titres, securities custody
- Pleinchamp, on-line agricultural publishing, partner
- Uni-Éditions, mass-market consumer magazines
- Crédit Agricole Store, digital applications
- Crédit Agricole Payment Services, payment activities
[a] GAC Sofinco is a 50/50 joint venture between CA Consumer Finance and Guangzhou Automobile Corporation (GAC Group), China's 6th largest car manufacturer.ref Website
[b] Wafasalaf is a subsidiary of Morocco's Attijariwafa Bank group. Wafasalaf is Crédit Agricole Consumer Finance's 2nd largest shareholder. ref
Timelines
- Jan.2010: Lyon Capital Management LLC was sold to Tetragon Financial Group Ltd, with Polygon Management LP taking a 25% equity interest.ref
- 2004: Crédit Agricole Corporate & Investment Bank was created.
- 2001: Lyon Capital Management LLC was established by Calyon, Credit Agricole SA's Corporate & Investment Bank, as an asset manager. (Website), ref
- Sept.2001: SAS Rue La Boétie was incorporated to hold the Crédit Agricole SA shares held by the Regional Banks.ref,ref
Crédit Agricole
- 2018: Successful integration of Pioneer Investments, 3 Italian banks and Banca Leonardo CACF partnerships with Bankia and Banco BPM CAA partnerships with Novo Banco and Creval
- 2016: Completion of the Eureka transaction to simplify the Group’s ownership structure
- 2015: Amundi IPO
- 2013: Sale of Emporiki
- 2010: Creation of CACF, CAL&F and CACIB. New head office in Montrouge.
- Feb.2010: Credit Agricole Corporate & Investment Bank: Credit Agricole Indosuez was rebranded.ref Calyon SA was renamed CACIB. Website.arch
- 2009: Launch of BforBank, creation of CAA and Amundi.
- 2008: Banque Sarasin was acquired by Crédit Agricole Luxembourg.ref
- Nov.2007: SOFINCO completed the buyouts of two ABN AMRO subsidiaries, INTERBANK NV and DMC Groep NV. The acquisitions made SOFINCO, already operating in the Dutch market through its subsidiary Ribank, the leading consumer credit specialist in the Netherlands.ref
- 2006: Acquisition of Cariparma, CA Egypt, CA Ukraine and Emporiki.
- 2005: Creation of CACEIS
- May.2004: Calyon Corporate and Investment Bank was created by the partial transfer of assets from Crédit Lyonnais' Corporate and Investment Banking division to Crédit Agricole Indosuez. Calyon grouped all of the corporate corporate and investment banking activities under one umbrella.ref, ref
- 2003: Acquisition of Crédit Lyonnais (renamed LCL in 2005) and acquisition of Finaref. LCL is a retail banking network with a strong presence in urban areas across France, with four main business lines: retail banking for personal customers, retail banking for small business customers, private banking and corporate banking.ref
- Dec.2001: Crédit Agricole SA IPO.
- 2001: Crédit Agricole SA: Caisse nationale du Crédit Agricole was renamed.
- 1999: Acquisition of Sofinco.
- Jul.1996: Credit Agricole Indosuez: Caisse Nationale de Crédit Agricole acquired a substantial stake in the Banque Indosuez SA; Compagnie de Suez held the majority stake.ref The bank was renamed. ref
- 1990: Creation of Pacifica (property and casualty insurance)
- 1988: Act organising the transfer of ownership of CNCA, which became a public company, to the Regional Banks.
- 1986: Creation of Predica (life insurance)
- 1945-1947: Fédération nationale du Crédit Agricole was created. It operates as a consultative and representative body, through which the Regional Banks discuss policy, express their views, and represent themselves. It provides services in the fields of continuing education and human resource management.ref Website
- 1926: Caisse nationale du Crédit Agricole: Office national du Crédit Agricole was renamed.
- 1920: Office national du Crédit Agricole was created.
- 1899: Viger Act: authorised the establishment of the Regional Banks.
- 1894: Méline Act: authorised the establishment of Local Banks by making it possible for members of farm unions to open private cooperative banks.
- 1884: An Act established the "freedom of professional association", which paved the way for the creation of farm unions.
Crédit Lyonnais
Corporate and Investment Bank
Crédit Agricole CIB, the Corporate & Investment Banking arm of the Crédit Agricole group, specialises in the businesses of capital markets and investment and corporate banking.
Located in London, the Crédit Agricole Group International Business Solutions "United Kingdom, Ireland, Nordic countries" assists mid-cap corporate customers with their international operations. About, Website, Reports
Indosuez Wealth Management
Amundi Asset Management SA
Amundi came about in Jan.2010 as the result of a merger between Crédit Agricole Asset Management and Société Générale Asset Management, the asset management arms of Crédit Agricole and Société Générale SA.ref
In Nov.2015, Amundi was listed on the Euronext. The IPO allowed Société Générale to sell its 20% stake, with Crédit Agricole selling 5%, and retaining 75%.ref
Société Générale Gestion SA
- 69.8% Crédit Agricole SA
- 1.35% Fidelity Management & Research Company
- 0.83% Vanguard Group Inc
- 0.76% Norges Bank Investment Management
- 0.70% Artisan Partners LP
- 0.58% Degroof Petercam Asset Management SA
- 0.57% Moneta Asset Management SAS
- 0.55% Henderson Global Investors Ltd
- 0.52% FIL Investment Advisors (UK) Ltd
- 0.51% La Banque Postale Asset Management SA
References
- ^ Banking on Climate Change: Fossil Fuel Finance Report 2020. The new Report shows financial support for the Fossil Fuel Industry has increased every year since the Paris Agreement was adopted in Dec.2015. Again, the big USA banks dominate; again, JPMorgan Chase leads the pack, with Wells Fargo, Citigroup, and Bank of America close on their heels. These 4 banks alone are responsible for 30% of all fossil fuel financing out of the 35 major global banks since the Paris Agreement was adopted. Rainforest Action Network, Mar.20.2019.