@Credit_Agricole BUSINESS REVIEW 2014-2015

Transcription

@Credit_Agricole
#USEFUL
TODAY AND
TOMORROW
BUSINESS REVIEW 2014-2015
A LEADING
BANKING GROUP
Crédit Agricole Group is the leading partner of the French economy and one of the largest
banking groups in Europe. It is the leading retail bank in Europe as well as the first
European asset manager, the first bancassurer in Europe and the third European player
in project finance.
Built on its strong cooperative and mutual roots, its 140,000 employees and the
31,500 directors of its Local and Regional Banks, Crédit Agricole Group is a responsible
and responsive bank serving 50 million customers, 8.2 million mutual shareholders
and 1.1 million individual shareholders.
Thanks to its universal customer-focused retail banking model – based on
the cooperation between its retail banks and their related business lines –,
Crédit Agricole Group supports its customers’ projects in France and around the world:
insurance, real estate, payments, asset management, leasing and factoring, consumer
finance, corporate and investment banking.
Crédit Agricole also stands out for its dynamic, innovative corporate social responsibility
policy, for the benefit of the economy. This policy is based on a pragmatic approach
which permeates across the Group and engages each employee.
54
A GLOBAL PRESENCE
IN 54 COUNTRIES
THE BANK OF 1 INDIVIDUAL
OUT OF 3 IN FRANCE
50 M 140,000
CUSTOMERS
THE BANK OF ALMOST 1 COMPANY
OUT OF 2 IN FRANCE
EMPLOYEES
THE BANK OF 9 FARMERS
OUT OF 10 IN FRANCE
G RO U P ’S ORG A N I S AT I ON
8.2 million mutual shareholders underpin Crédit Agricole’s cooperative organisational structure. They own the capital
of the 2,489 Local Banks in the form of mutual shares and they designate their representatives each year.
31,500 directors carry their expectations. The Local Banks own the majority of the Regional Banks’ share capital.
The 39 Regional Banks are cooperative Regional Banks that offer their customers a comprehensive range of products
and services. The discussion body for the Regional Banks is the Fédération Nationale du Crédit Agricole, where the Group’s
main orientations are debated.
The Regional Banks together own, via SAS Rue La Boétie, the majority of the share capital of Crédit Agricole S.A. (56.5%).
Crédit Agricole S.A. owns 25% of the Regional Banks (excl. the Regional Bank of Corsica). It coordinates in relation with
its specialist subsidiaries the various business lines’ strategies in France and abroad.
THE UNIVERSAL CUSTOMER-FOCUSED BANK
RETAIL BANKS
SPECIALISED
BUSINESS LINES
OTHER SPECIALISED SUBSIDIARIES:
Crédit Agricole Capital Investissement & Finance
(Idia, Sodica), Uni-éditions
PAYMENT
SYSTEMS
SAVINGS MANAGEMENT
AND INSURANCE
RETAIL BANKING
IN FRANCE
· CRÉDIT AGRICOLE
CARDS &
PAYMENTS
· FIA-NET
LCL
CRÉDIT AGRICOLE
ASSURANCES
· AMUNDI · CACEIS
· CA PRIVATE
BANKING
39 REGIONAL
BANKS OF
CRÉDIT AGRICOLE
INDIVIDUALS
LOCAL AUTHORITIES
FARMERS
INSTITUTIONALS
SMALL BUSINESSES
CORPORATES
CRÉDIT AGRICOLE
CIB
CORPORATE
AND INVESTMENT
BANKING
· GRUPPO
CARIPARMA
CRÉDIT AGRICOLE
· CA BANK POLSKA
· CA EGYPT
· CRÉDIT DU MAROC
· CA UKRAINE
· CA SRBIJA
· CRÉDIT AGRICOLE
CONSUMER FINANCE
· CRÉDIT AGRICOLE
LEASING &
FACTORING
CRÉDIT AGRICOLE
IMMOBILIER
SPECIALISED
FINANCIAL SERVICES
INTERNATIONAL
RETAIL BANKING
REAL ESTATE
BUSINESSES
1ST
1ST
1ST
LEADING FINANCIAL PARTNER
OF THE FRENCH ECONOMY
BANCASSURER
IN EUROPE
EUROPEAN
ASSET MANAGER
INTERVIEW WITH THE
CHAIRMAN AND THE CHIEF
EXECUTIVE OFFICER
Pages 02—05
PA RT
PA RT
PA RT
0 02 03
CO-OPERATIONS INNOVATIONS
INCREASING ANNECY’S
APPEAL THROUGH
A MAJOR REAL-ESTATE
PROJECT: LES TRÉSUMS
Pages 08—11
SOUFFLET: A MAJOR
PLAYER IN THE LARGESCALE PRODUCTION OF
BREAD AND PASTRIES
AFTER THE ACQUISITION
OF NEUHAUSER
Pages 12—15
CUSTOMER RELATIONS:
RESPONDING TO NEW
REQUIREMENTS
Pages 26—29
NEW TECHNOLOGIES:
OFFERING NEW
FUNCTIONS
Pages 30—33
FAREVA, A MEDIUM-SIZED
DEVELOPMENT: HELPING
BUSINESS FROM THE
ARDECHE REGION TAKING STAFF TO GROW AT EVERY
STAGE OF THEIR CAREERS
ON THE WORLD
ERG INSTALLING A WIND
FARM IN PALAZZO
SAN GERVASIO TO REDUCE
CO2 EMISSIONS
Pages 20—23
ACTING ON A DAILY BASIS
Pages 44—47
PROGRESSING TOGETHER
Pages 48—49
DELIVERING SUSTAINABLE
PERFORMANCE
Pages 50—53
DECIDING
SUPPORTING CLIENTS:
FOR THE FUTURE
DESIGNING NEW
PRODUCTS AND SERVICES Pages 54—59
Pages 34—37
Pages 16—19
ACTIONS
Pages 38—41
#USEFUL
TODAY AND
TOMORROW
DISCOVER AND SHARE
w w w.c r e di t- ag r i c o le.c om
01
CRÉDIT AGRICOLE S.A.
Being useful today and tomorrow means being a solid,
successful Group: co-operating to help our clients
realise their plans; innovating to serve our clients
better; being in action to make Credit Agricole
even more effective in serving the real economy.
This is the story of our usefulness.
INTERVIEW WITH THE CHAIRMAN AND THE CHIEF EXECUTIVE OFFICER
B U S I N E S S R E V I E W 2 0 14 -2 0 15
JEAN-MARIE SANDER
CHAIRMAN
OF CRÉDIT AGRICOLE S.A.
JEAN-PAUL CHIFFLET
CHIEF EXECUTIVE OFFICER
02
#A SOLID
AND SUCCESSFUL
GROUP
What is your analysis of the current
environment?
Jean-Marie Sander: We are going through
a period of political and economic events
that have the potential to destabilise
our business and make it harder to manage.
In 2014, I would highlight Ukraine, Russia,
the sharp drop in oil prices, the weakening
euro and, more recently, tension in Greece.
Our macroeconomic environment shows
a trend towards deflation. The European
Central Bank’s intervention, via its targeted
long-term refinancing operation (TLTRO)
and quantitative easing (QE), did not prevent
pressure on bank revenues. In addition,
the regulatory environment has changed
significantly since 2008, forcing banks
to make constant adjustments. The banking
union project is taking shape with the recent
creation of the Single Supervisory Mechanism
(SSM) and the start of ECB supervision
over 128 European banks. In practical terms,
that supervision resulted in the Asset
Quality Review and Stress Test, which
we successfully passed.
and the commercial and financial efficiency
of our businesses, including our distribution
networks and specialist subsidiaries.
Crédit Agricole S.A. made a profit
of €2,340 million in 2014, which
was lower than the figure for 2013 –
why is that?
How did Crédit Agricole S.A.’s various
business lines perform?
Jean-Paul Chifflet: Crédit Agricole S.A.’s net
income Group share was €2,340 million, down
6.8% relative to 2013. The decrease was due
to accounting adjustments(1), but mainly the
failure of BES in Portugal. Economic earnings
were €3.4 billion, in line with our targets.
For the Crédit Agricole group as a whole,
i.e. including the Regional Banks at 100%,
economic earnings totalled €4,920 million
and €6.0 billion adjusted for the same items.
Whatever the scope used, these results show
strong performance in all our business lines
and the wisdom of our business model, which
is based on the strength of the Regional Banks
03
Jean-Paul Chifflet: French retail banking
showed good resilience. Client deposits
remained buoyant, rising 2.1% for the Regional
Banks and 2.5% at LCL. Loans outstanding
ended the year at €491 billion for the Regional
Banks and LCL, up 0.9% year-on-year. That
shows, once again, the essential role that the
Group plays in financing the French economy.
Outside France, our networks maintained good
business levels in Italy, our second market,
and in the other countries in which we operate,
generating net on-balance sheet savings
inflows of €3.7 billion. Our Savings
Management and Insurance business
is growing constantly, launching new
products and winning new clients, and its
In 2014, Crédit Agricole S.A. again showed the wisdom of its strategy.
Financial results were in line with its targets, driven by a resilient
performance in French retail banking, growth in other business lines,
a further reduction in expenses and a sharp drop in the cost of risk.
Another important area of progress was the ongoing increase in the
Group’s financial strength.
A look back on 2014 with Jean-Marie Sander and Jean-Paul Chifflet.
B U S I N E S S R E V I E W 2 0 14 -2 0 15
assets under management rose almost 10%
to €1,257 billion. Corporate and Investment
Banking saw an upturn in business,
with revenue up 6.6%, and confirmed
its leadership in its areas of expertise.
Production of Specialised Financial Services
started rising again, in both consumer finance
and leasing and factoring.
You announced a medium-term plan
in 2014: what progress have you made
with that?
Jean-Paul Chifflet: Almost a year later,
we can already say that initial efforts under
the plan have been successful. Our four areas
of development are more relevant than ever.
The transformation of our French retail banks
is underway. The organisational and IT parts
of the project have been launched. Our plans
to generate revenue synergies resulted
in numerous initiatives in 2014: the Regional
Banks started selling collective insurance,
Crédit Agricole CIB introduced support for
small and medium-sized businesses operating
outside of France, and the Regional Banks
and Crédit Agricole Consumer Finance
continued to develop their partnership.
We grew our European businesses by entering
new areas of activity – asset management
and property/casualty insurance in
Poland – extending the CACEIS network,
opening a Private Banking branch in Italy,
increasing savings inflows in the consumer
finance business and acquiring Bawag Invest
(an asset management company linked to
a retail bank in Austria) through Amundi.
We also stepped up cost cutting programmes
initiated in recent years, resulting in over
€400 million of savings. Alongside all of these
measures, we continued to reduce our cost
of risk. We have already achieved our targets
in this area, both at the Crédit Agricole group
and Crédit Agricole S.A. level.
How would you describe Crédit Agricole
today?
Jean-Marie Sander: We are a solid,
successful group that takes a useful
and responsible approach to financing the
real economy. Our solid foundations are shown
by the improvement in our solvency ratios.
Cautious management of our equity capital
means that Crédit Agricole S.A. now has
a Common Equity Tier 1 ratio of 10.4%,
very close to our end-2016 target. For
the Crédit Agricole group, the ratio is 13.1%.
Improved solvency is the result of the Group’s
business model, and particularly the
04
accumulation of profits and the reinvestment
of dividends from the Regional Banks. In view
of this progress, the Board of Directors has
decided to propose a dividend of €0.35 per
share(2) to shareholders in the Annual General
Meeting, taking the payout ratio to 43%.
As well as our business model, our strength
comes from our co-operative approach,
which is very popular among customers
as shown by the 763,000 new mutual
shareholders we attracted in 2014, taking
the total to 8.2 million. Our mutual shareholder
base also demonstrates the strength of
the Regional Banks’ local roots. The Group’s
commitment to corporate social responsibility
has been rewarded by our recent inclusion
in the STOXX Global ESG Leaders indexes,
which feature the world’s best-performing
companies in terms of ESG (environmental,
social and governance) criteria. We are
an “industry leader”, which means that
we are among the top 5% of all companies
based on our ESG rating.
(1)
Excluding the equity-method impact of BES, issuer spreads,
day-one CVA/DVA/FVA, running DVA, loan coverage, remeasurement
of Bank of Italy shares.
(2)
Subject to approval by shareholders at the Annual General Meeting.
“THE GROUP’S LOANS
OUTSTANDING ENDED
THE YEAR AT €491
BILLION IN FRANCE,
SHOWING ONCE AGAIN
THE ESSENTIAL ROLE
THAT IT PLAYS IN
FINANCING THE FRENCH
ECONOMY.”
“2014 FIGURES CONFIRM
THE WISDOM OF OUR
STRATEGY, WITH
RESULTS IN LINE WITH
OUR EXPECTATIONS.”
JEAN-PAUL CHIFFLET
JEAN-MARIE SANDER
CHAIRMAN
05
PA R T 01
CO-OPERATIONS
Supporting the development of a food production group,
helping a medium-sized business to expand abroad, investing in a large
real-estate project in Haute-Savoie and encouraging the development
of renewable energies: in 2014, the Crédit Agricole group proved
its commitment to its customers.
Discover few examples of these co-operations.
C O - OP ER AT I ONS
CAISSE
RÉGIONALE
DES SAVOIE
CRÉDIT
AGRICOLE
IMMOBILIER
THE GROUP IS HELPING
ANNECY TO ADDRESS
THREE REQUIREMENTS:
01
DEAL WITH A HOUSING
SHORTAGE IN THE
ANNECY AREA.
INCREASING ANNECY’S
APPEAL THROUGH
A MAJOR REAL-ESTATE
PROJECT: LES TRÉSUMS
THE CITY HAS THE SUPPORT OF THE CRÉDIT AGRICOLE GROUP,
WHICH IS COMMITTED TO REGIONAL DEVELOPMENT.
02
REDEVELOP A DISTRICT
OF THE CITY.
B U S I N E S S R E V I E W 2 0 14 -2 0 15
03
INCREASE THE AREA’S TOURIST
POTENTIAL.
Jean-Luc Rigaut,
Mayor of Annecy
“To redevelop Annecy’s old hospital
site, we wanted an ambitious project
forming a link between the lake and
the mountains and placing major
emphasis on housing, particularly
social housing, in a city where it is
very scarce.”
http://www.annecy.fr
A HOTLY ANTICIPATED
DEVELOPMENT
A new residential district is being
created on the site of the old Annecy
hospital. A large number of homes,
a senior residence and a hotel
are being built in a 2-hectare
public park.
08
€ 50 M
6 Hectares
The total future area of the Les Trésums site.
The amount invested by Caisse
Régionale des Savoie in the
Les Trésums project.
THE FORMER ANNECY HOSPITAL WILL BE
REPLACED WITH A NEW RESIDENTIAL
DISTRICT AROUND A MAJOR PUBLIC PARK.
Christian de Portzamparc,
Architect, first French winner
of the Pritzker Prize in 1994
RESPECTING THE HISTORY OF AN EXCEPTIONAL SITE.
09
“The Les Trésums project in Annecy
has two key aims: to create more
than 600 homes, a hotel and
a long-term care facility while
respecting the sloping site of the
former Annecy hospital, at the foot
of the Semnoz mountain, and to
provide a large public green space.
We therefore designed private
blocks of two or three buildings
whose roofs and balconies follow
the slope of the plot, the full length
of the central park. The area of the
park is around two hectares, and
it spans the site along its steepest
slope, from the Promenade
de Paquier to the Semnoz mountain.
It has three large flat grassed
sections, which are separated by
rocky and planted embankments.”
Jean-Yves Barnavon,
Chief Executive Officer,
Caisse Régionale des Savoie
“This partnership allows us to combine
the expertise of Crédit Agricole
Immobilier with our knowledge of the
region and local inhabitants, as well as
our financial strength. That
combination is without doubt a major
advantage for local authorities looking
for partners capable of meeting their
specific needs.”
A PROJECT BASED ON THE
PARTNERSHIP BETWEEN
CAISSE RÉGIONALE DES
SAVOIE AND CRÉDIT
AGRICOLE IMMOBILIER.
B U S I N E S S R E V I E W 2 0 14 -2 0 15
www.ca-des-savoie.fr
480
52
0
09
homes available for purchase.
Michel Goutorbe,
Crédit Agricole Immobilier
social housing units.
“Working with the Caisse
Régionale des Savoie, Crédit
Agricole Immobilier devised an
urban development strategy
focused on creating new housing
in the next few years. The Annecy
project – in which we are creating
a new district and developing new
housing – is the first phase of this
partnership.”
hotel rooms.
rooms in a senior residence.
www.ca-immobilier.fr
JUNE 2015:
COMMERCIAL LAUNCH.
JULY 2015:
END OF DEMOLITION WORK.
2017 : COMPLETION
OF THE FIRST HOMES.
“Just over 20% of the social housing
units will be on the Les Trésums
site. Halpades believes that
all districts should have a good social
mix, even the most prestigious
ones like Les Trésums. The city
of Annecy and Crédit Agricole
Immobilier share that belief. Demand
for housing is very high in the
Annecy region, and the 152 new
social housing units in Les Trésums
will be a welcome addition.”
Alain Benoiston,
Société Halpades
10
Find out more:
www.credit-agricole.com
MORE THAN ONE IN FOUR HOME LOANS IN FRANCE
IS FINANCED BY THE CREDIT AGRICOLE GROUP*
PROPERTY
3
rd
Crédit Agricole @CreditAgricole 21 March.
#Housing: Planning to buy a home? Home loand
tips for first-time buyers. po.st/SijwdT
largest business area for the Group.
€288 Bn
of French home loans outstanding
in 2014 across the Group*.
CRÉDIT AGRICOLE
E-IMMO: THE PLATFORM FOR REGIONAL BANKS
REGIONAL BANKS
The e-immo platform aims to give
potential homebuyers a single entry
point for accessing all of Crédit
Agricole’s Regional Banks.
The innovative service provides
an immediate response to loan
applications and has helped
generate around €2.5 billion
of new loans by attracting
700,000 visitors in its first year.
Even better, 51% of loans granted
are from new customers, which
makes e-immo an effective way
of winning business.
ONLINE HOME LOANS
AS A WAY OF ATTRACTING
CUSTOMERS
e-immobilier.credit-agricole.fr
CRÉDIT AGRICOLE ASSURANCES
ACCESS TO HOUSING:
A CHALLENGE FOR
CA ASSURANCES
Crédit Agricole Assurances has
acquired almost 400 rental
properties currently being built in
Romainville and Maisons-Alfort and
to be built in future in Massy, for a
total price of €177 million. This is a
practical way of supporting the
development of open-market rental
housing in areas where housing is in
short supply, and of meeting
constantly rising demand.
By allowing faster responses
to loan applications and making
the process easier, digital tools
are attracting increasing numbers
of potential buyers. To meet
growing demand, Credit Agricole
has introduced its new e-immo
digital tool.
* In France at 31/12/2014 for the Crédit Agricole
group: Regional Banks and LCL.
11
B U S I N E S S R E V I E W 2 0 14 -2 0 15
Jean-Michel Soufflet,
Chairman of the Management Board
“The Neuhauser acquisition was
a major deal for the Soufflet group.
The acquisition has almost doubled
our workforce and given us
a position in the secondary
processing of agricultural products
and the fast food market. It was
our close working relationship
with the Crédit Agricole group
that enabled us to complete
this strategic transaction.”
SOUFFLET: A MAJOR
PLAYER IN THE
LARGE-SCALE PRODUCTION
OF BREAD AND PASTRIES
AFTER THE ACQUISITION
OF NEUHAUSER
WITH THE GUIDANCE OF CRÉDIT AGRICOLE GROUP EXPERTS
http://www.soufflet.com
THE SOUFFLET GROUP
IN FIGURES
€4.25 Bn
of revenue in 2014.
4,070
42
employees in 19 countries.
production plants in France, Europe,
South America and Asia.
12
THE SOUFFLET GROUP’S BUSINESS
ACTIVITIES*
27% AGRICULTURE
36% TRADING
9% MILLING
7%
OTHER
(rice, pulses, wine-growing, etc.)
21%
MALTHOUSE OPERATIONS
* Breakdown of revenue by business.
CAISSE
RÉGIONALE
CHAMPAGNE
BOURGOGNE
CRÉDIT
AGRICOLE
CIB
4 OTHER
REGIONAL
BANKS
LCL
THE SOUFFLET GROUP AND
CRÉDIT AGRICOLE WORKED
TOGETHER TO MEET
TWO REQUIREMENTS:
01
CONTINUING TO DEVELOP
THE BUSINESS.
02
MOVING INTO THE SECONDARY
PROCESSING OF AGRICULTURAL
PRODUCTS.
13
THE SOUFFLET GROUP,
BASED IN THE CHAMPAGNE
REGION OF FRANCE, IS A
LEADING PROCESSOR OF
WHEAT AND BARLEY BUT
WANTED TO STRENGTHEN
ITS WHEAT OPERATIONS
WITH THE ACQUISITION OF
NEUHAUSER, A LARGE-SCALE
PRODUCER OF PASTRY
GOODS BASED IN THE
MOSELLE REGION. TWO
FAMILY-OWNED GROUPS,
BOTH OVER 100 YEARS OLD.
MAIN PHASES
OF THE TRANSACTION
B U S I N E S S R E V I E W 2 0 14 -2 0 15
The Soufflet group appointed
Crédit Agricole Champagne
Bourgogne and Crédit Agricole CIB
as advisors in the following areas:
M&A: estimating the value
of the target company and looking
at funding options;
Structured financing: putting
together the financing deal;
Syndication: 4 Regional Banks
(Alsace Vosges, Lorraine,
Touraine Poitou and Centre Loire)
and LCL joined Crédit Agricole
Champagne Bourgogne and
Crédit Agricole CIB in financing
the project.
After the transaction, Soufflet is
the majority owner of Neuhauser
with a 78.73% stake.
FARMING AND FOOD INDUSTRY: ONE OF
THE FOUR AREAS OF EXCELLENCE DEFINED
BY CREDIT AGRICOLE IN THE GROUP
PROJECT PRESENTED IN DECEMBER 2010.
NEUHAUSER: A MAJOR
PLAYER IN THE FRENCH
FARMING INDUSTRY
Régis Monfront,
Deputy Chief Executive Officer,
Crédit Agricole CIB
Tristan Lamy,
Head of Business,
Farming and Private Banking,
Crédit Agricole Champagne Bourgogne
“Caisse Régionale Champagne
Bourgogne has been working
with the Soufflet group for several
years. We have developed
a long-term relationship and,
together with the input of our
experts – particularly those
specialising in the food industry
and corporate and investment
banking – we were able to share
a genuine strategic vision with
the client and jointly manage
the acquisition. This successful
joint effort was based on our
unique universal customerfocused banking model.”
€623 M
“After several major financial
transactions for Soufflet,
particularly regarding the structure
of its debt, Crédit Agricole CIB
was granted an advisory mandate
alongside Caisse Régionale
Champagne Bourgogne.
The acquisition involved various
teams specialising in structured
finance and M&A. The Group
of revenue in 2013.
has acknowledged expertise
in these areas.”
www.ca-cib.fr
3,36
employees.
CRÉDIT AGRICOLE SUPPORTED THE DEAL
THROUGH AN ADVISORY MANDATE SHARED
BY CAISSE RÉGIONALE CHAMPAGNE
BOURGOGNE AND CRÉDIT AGRICOLE CIB.
9
production units in France
and 1 in Portugal.
236
retail outlets (Crobag in Germany
and Pomme de Pain in France).
Find out more:
www.ca-cb.fr
14
CRÉDIT AGRICOLE GROUP WORKING ALONGSIDE
THE FARMING AND FOOD INDUSTRIES
REGIONAL BANKS: THE LEADING
PARTNER OF FRENCH FARMERS
THE GROUP’S LEADERSHIP
IN FRANCE
FARMING
€7.2 Bn
INTERNATIONAL DEVELOPMENT
RETAIL BANKS OUTSIDE
FRANCE
INNOVATION REWARDED
IN ITALY
BUSINESS DEVELOPMENT
IN POLAND
Over
Alongside partnerships with John
Deere, Lely, Delaval, Pellenc and
Coldiretti, growth in the Group’s
farming and food operations in Italy
is based on the Cariparma
Crédit Agricole group’s “Orizzonte
Agroalimentare” project, which has
won three innovation prizes from the
Italian Banking Association, including
a prize for “its innovative service
model and targeted, specialist
approach to the various segments of
the farming and food industry”. The
project is supported by 256 business
managers in the farming and food
industry, who have received
extensive training. Another practical
example of Cariparma’s involvement
in this area is the provision of an
additional €50 million of financing
to Italian winegrowers during the
harvest period, representing another
step towards making Cariparma the
leading banking partner of the Italian
wine industry.
In 2014, business levels in the
Polish farming and food industry
grew rapidly, for several reasons.
A number of partnerships were
signed, including one with John
Deere in the machinery segment,
but also in industrial milk
processing and the provision
of plant-health products. Another
reason was the expansion
in the product range, including
short-term loans and a welcome
package for new clients.
In addition, around 40 farming
and food advisors act as
Crédit Agricole’s spokespersons
in Poland’s farming regions.
7,000
40,000
new farming and food clients in 2014.
clients overall, mainly in four
countries: Italy, Poland, Ukraine
and Serbia.
15
of loans granted to farmers by
the Regional Banks in France in 2014.
Three out of every four young
farmers establish themselves with
the help of Regional Bank funding.
FOOD INDUSTRY
37% Regional Banks’ market share
at end-September 2014 (source:
Banque de France figures).
REGIONAL BANKS: THE LEADING
PARTNER OF FRENCH FARMERS
The “Compte Épargne Agri” 5-year
savings account remained
successful, with deposits rising
18.3% in 2014.
ACKNOWLEDGED,
MARKET-LEADING
EXPERTISE
What effect is the Ukrainian crisis
having on farmers?
How is El Niño affecting
agricultural markets?
Crédit Agricole S.A. economists,
engineers and analysts answer
these questions in two new
leading publications, “Prisme”
and “Observatoire”.
FAREVA, A FAMILY-OWNED
COMPANY SET UP 30 YEARS
AGO AND STILL BASED IN THE
ARDECHE REGION, HAS SEEN
SUSTAINED RAPID GROWTH
IN THE LAST FEW YEARS,
PARTICULARLY OUTSIDE
FRANCE. FOCUS ON THIS
GROWTH FINANCING.
FAREVA, A MEDIUM-SIZED
BUSINESS FROM THE
ARDECHE REGION TAKING
ON THE WORLD
WITH THE HELP OF MAJOR FINANCING ARRANGED BY THE CRÉDIT AGRICOLE GROUP
Bernard Fraisse,
Chairman and CEO of the Fareva group
“Our strategy is to focus exclusively
on serving our customers and to be
present wherever they need us.
To implement that strategy,
Crédit Agricole’s expertise is vital.
In 2014, the Crédit Agricole group
helped us with a number of projects.
Within a very tight deadline, it was
able to refinance €30 million
of acquisition loans taken out
in Brazil. In December, the Group
offered us financing in two parts –
a bank loan and refinancing in the
form of a Euro PP – to help us
optimise our financing structure.”
www.fareva.com
16
FAREVA: FRANCE’S LEADING OUTSOURCING
COMPANY IN THREE AREAS
45%
45%
0%
€ .3 Bn
COSMETICS
PHARMACEUTICALS
MANUFACTURING
EURO PP: A FINANCING
SOLUTION FOR COMPANIES
FAREVA’S REVENUE IN 2014
GLOBAL PRESENCE
CAISSE
RÉGIONALE
SUD RHÔNE
ALPES
• Operations in 12 countries
• 35 production sites worldwide
• 9,500 employees, including 3,000 in France
CRÉDIT
AGRICOLE
CIB
GROUP
ENTITIES
ABROAD
THE CRÉDIT AGRICOLE GROUP
USED ITS STRENGTH TO HELP
FAREVA REFINANCE VIA A
BANK LOAN AND A PLACEMENT
OF BONDS WITH LARGE
INSTITUTIONAL INVESTORS.
THE CRÉDIT AGRICOLE GROUP WORKS WITH
ALMOST ONE IN TWO COMPANIES IN FRANCE.
17
• Crédit Agricole Sud Rhône
Alpes is the banking partner
of one out of three companies
in its region.
• Crédit Agricole CIB is
the Group’s corporate
and investment banking unit,
serving 1,100 companies
and 500 financial institutions
worldwide.
Euro Private Placements involve
the issue of bonds by companies,
listed or otherwise, which
are purchased by institutional
investors.
Since 2012, this new source
of financing has become much
more common for small and
medium-sized businesses.
Previously, bond financing was
available only to large companies.
€275 M
– the amount of the Euro PP.
B U S I N E S S R E V I E W 2 0 14 -2 0 15
FRANCE’S LARGEST BOND EVER ISSUED
BY AN UNLISTED COMPANY.
Eric Campos,
Caisse régionale Sud Rhône Alpes
Guillaume Lefebvre,
Head of group development,
“Fareva is a long-standing client
of the Regional Bank, and we
had a duty to support it during
this key phase of its development,
which involved the restructuring
of all of its debt and international
expansion. We brought together
all of the Group’s skills to devise
the most suitable solutions.
The Euro PP is a perfect example:
it is currently France’s largest
bond ever issued by an unlisted
medium-sized business.”
“To meet Fareva’s requirements,
teams from the Regional Bank
and the Group’s financing and
capital markets businesses
worked together to refinance
the company’s bank debt.
We also put together and
marketed a Euro PP, which
received a very warm welcome
from investors and was
oversubscribed. Crédit Agricole
CIB played various roles:
it co-ordinated the banking
syndicate, was the sole arranger
of the Euro PP Loan and the joint
arranger of the Euro PP Bond.”
www.ca-cib.fr
THE STRENGTH
OF A BANKING GROUP
WITH AN INTERNATIONAL
PRESENCE
• CA Ukraine is the main bank
for Fareva’s local subsidiary.
• Crédit Agricole CIB ZAO handles
over 50% of banking flows for
Fareva’s Russian subsidiary.
• Crédit Agricole CIB Brazil
handles around 30% of the
financial flows for Fareva’s
two subsidiaries in Brazil.
• Cariparma handles over 50%
of the banking flows of all Fareva’s
Italian subsidiaries.
• Next phase: negotiations are
currently taking place…
www.ca-sudrhonealpes.fr
Find out more:
18
THE CRÉDIT AGRICOLE GROUP’S SUPPORT
FOR SMALL AND MEDIUM-SIZED BUSINESSES
CRÉDIT AGRICOLE GROUP
45%
commercial penetration rate in the
small- and medium-sized business
segment (source: TNS Sofres survey,
2013).
REGIONAL BANKS
€7 Bn
New medium- and long-term loans
granted to businesses in 2014,
up 3.2% on 2013.
LCL
CARIPARMA
THERE WHEN SMEs
NEED IT MOST
LCL works with one in three
medium-sized businesses
in France, and is well-known
as a partner to companies.
To support their development,
LCL is strengthening its financing
services through its private equity
arm, creating two funds with total
assets of €80 million.
The aim is to help entrepreneurs
with their growth and buyout
plans.
€700 MILLION FOR SMEs
LE VILLAGE BY CA
AN INCUBATOR FOR INNOVATIVE YOUNG COMPANIES
The “Village de l’Innovation” is a
unique location dedicated entirely
to the economic development of
young companies and the creation
of innovative projects. It was set
up by Credit Agricole in October
2014 and is the first of its kind
in Europe. It has over 4,500 m2
of space in central Paris, and
acts as an incubator for start-ups.
Its roles include encouraging
innovative projects and new
talent, helping young companies
implement their solutions and
become commercially successful,
and promoting, accelerating
and disseminating innovation.
www.levillagebyca.com
19
That is the amount of new
financing that Crédit Agricole
Cariparma will provide to
15,000 client companies,
including small and medium-sized
businesses, professionals,
tradesmen and farmers. Various
lending solutions are available,
including solutions to help
companies manage their
day-to-day activities as well as
longer-term investments and
projects. In the last three years,
Cariparma has provided €3 billion
of financing to more than
25,000 companies, confirming
that it is a key player in Italy’s
economic recovery.
CRÉDIT
AGRICOLE
CIB
GRUPPO
CARIPARMA
CRÉDIT
AGRICOLE
TWO PARTNERS
ADDRESSING THREE
REQUIREMENTS
01
INCREASE GENERATION
OF RENEWABLE ENERGIES.
02
REDUCE CO 2 EMISSIONS.
03
FIND A FINANCIAL PARTNER.
ERG INSTALLING A WIND
FARM IN PALAZZO
SAN GERVASIO TO REDUCE
CO2 EMISSIONS
A PROJECT SUPPORTED BY THE CRÉDIT AGRICOLE GROUP
Michele Pedemonte,
Chief Financial Officer,
ERG Group
“With its in-depth industry knowledge,
the Crédit Agricole group completely
understood what we needed for this
wind-farm project, which is a strategic
investment for us. It gave us the most
competitive solution in terms of
leverage, financial terms and financial
structure. We have an effective
and successful partnership.”
www.erg.it
20
ERG GROUP: ITALY’S LEADING WIND-POWER OPERATOR
st
wind-power operator in Italy
and ninth-largest in Europe
via its ERG Renew subsidiary.
,087MW
installed in the Italian peninsular
and 1,341 MW in Europe.
FINANCING ARRANGED BY CRÉDIT
AGRICOLE CIB IN MILAN FOR ERG EOLICA
BASILICATA, SUBSIDIARY OF ERG S.P.A.
€43 M
ON A 17-YEAR PERIOD.
THIS IS THE TOTAL AMOUNT
OF THE FINANCING.
Alessio Foletti,
Head of Corporate Banking,
Crédit Agricole Cariparma Group
“Cariparma, via Carispezia, was
the depositary bank. That means
that we received and handled all
financial and commercial flows relating
to the agreement. Throughout
the project, we worked closely with
Crédit Agricole CIB. The success
of the project clearly shows the role
that the Crédit Agricole group is
playing in Italy in support of clients
specialising in renewable energies.”
www.cariparma.it
21
THE ADVANTAGES OF ITALY’S
FEED-IN SYSTEM
Italian wind-power producers now
benefit from a feed-in tariff that
is fixed for 20 years. The
tariff ensures a return on their
investments. The new system
is helping to promote renewable
energies, without increasing
the final cost to the consumer.
ITALY IS CRÉDIT AGRICOLE’S
SECOND DOMESTIC MARKET
B U S I N E S S R E V I E W 2 0 14 -2 0 15
THE CARIPARMA
IN FIGURES
8th
8,000
Francesca Benucci,
Senior Banker,
Crédit Agricole CIB, Milan
“Crédit Agricole CIB is a leading
player in Italy’s energy and utilities
sectors, and was the lead manager
and arranger on this project.
Our expertise meant that we were
able to give ERG the best possible
solution: long-term structured
financing over 17 years, backed
by the feed-in tariff. ERG has been
a strategic client of the Group
for several years now.”
www.ca-cib.fr
ITALY
PALAZZO
SAN GERVASIO
- largest retail bank in Italy in terms
of branches (at 31/12/14).
OVER
employees serving 1.7 million
customers (at 31/12/14).
DESCRIPTION
OF THE FACILITY
THE ITALIAN WIND
POWER MARKET*
ERG Eolica Basilicata is a wind
farm located in Palazzo San
Gervasio in the Basilicata region
of Italy. It was developed by ERG
Renew, a subsidiary of ERG S.p.A.
• Start of operation:
December 2013.
• Installed capacity: 34 MW.
• 17 wind turbines, each 80m tall
(Vestas V100 turbines with hubs).
• The new facility can generate
over 72 GWh per year,
representing a reduction
in CO2 emissions of around
30,000 tonnes.
• 5%: wind power’s share
of the national energy mix.
• 10 million tonnes: reduction
in CO2 emissions per year.
• 8,663 MW of installed capacity
in 2014.
* Source: Anev (Associazione nazionale energia
del vento).
CARIPARMA
FOUNDED IN 1860 IN PARMA
AND A CRÉDIT AGRICOLE
SUBSIDIARY SINCE 2007.
CARISPEZIA,
FOUNDED IN 1842, ONE
OF ITALY’S OLDEST SAVINGS
BANKS. CARISPEZIA’S
STRENGTH IS BASED ON
ITS CLOSE TIES WITH LOCAL
COMMUNITIES. CARISPEZIA
HAS BEEN PART OF THE
CARIPARMA CRÉDIT AGRICOLE
GROUP SINCE 2011.
Find out more:
22
CRÉDIT AGRICOLE GROUP: COMMITTED
TO PROTECTING THE ENVIRONMENT
2014 CLIMATE SUMMIT:
THE GROUP CENTRE STAGE
AT THE UNITED NATIONS
In September 2014, during the UN
Climate Summit in New York, the
Crédit Agricole group reaffirmed its
commitment to combating climate
change. Jean-Yves Hocher, Deputy
Chief Executive Officer of Crédit
Agricole S.A. and Chief Executive
Officer of Crédit Agricole CIB,
presented the Group’s four key
commitments:
• To arrange over $20 billion
of new “green” financing by
the end of 2015.
• To measure and publish the
carbon footprint of its financing
operations.
• To factor environmental and
social criteria into its financing
policies for sectors making up
over 80% of that footprint.
• To propose partnerships with
the public sector to finance
environmental projects.
CRÉDIT AGRICOLE LEASING
& FACTORING (CAL&F)
CAL&F RENOVATING
TWO SCHOOLS IN
THE MOSELLE REGION
When they went back to school in
autumn 2014, pupils at two schools
in the Moselle region found a more
attractive, environmentally friendly
setting. The renovation work was
financed by Credit Agricole Leasing
& Factoring via Unifergie and
Credit Agricole de Lorraine.
Amount: €37 million over 18 years.
AMUNDI
CRÉDIT AGRICOLE CIB
AMUNDI AND EDF WORKING TOGETHER
TO FINANCE ENERGY TRANSITION
GREEN BOND: CRÉDIT
AGRICOLE CIB WORKING
ALONGSIDE GDF SUEZ
In October 2014, Amundi and EDF
formed a partnership to finance
projects aimed at supporting energy
transition. Through the partnership,
the two companies will work together
to develop a new asset class that
represents an alternative to traditional
funds. One of the objectives is
to make long-term savings work
in support of the real economy.
CRÉDIT AGRICOLE ASSURANCES
REGIONAL BANKS
WIND POWER: STRATEGIC
GREEN ENERGY IN ORLEANS
PARTNERSHIP BETWEEN
For the last year, one district of
CRÉDIT AGRICOLE
has been enjoying a green
ASSURANCES AND GDF SUEZ Orléans
source of heating – a biomass boiler
– that produces lower CO2
emissions. €40 million of financing
was provided by Banque Publique
d’Investissement and the Caisse
Régionale Centre Loire together
with Carcie, the investment banking
subsidiary of four Regional Banks.
In 2014, Crédit Agricole
Assurances acquired a 50% stake
in GDF Suez subsidiary Futures
Energies Investissement Holding
(FEIH). FEIH operates onshore
wind power facilities in France
with installed capacity of 440 MW.
The partnership enables Crédit
Agricole Assurances to continue
investing in infrastructure,
particularly energy infrastructure.
23
In May 2014, GDF Suez issued
€2.5 billion of green bonds with
the help of Crédit Agricole CIB.
The transaction was a big hit with
institutional investors, particularly
those focusing on SRI (socially
responsible investing). The funds
raised will finance renewable energy
and energy efficiency projects.
Crédit Agricole CIB worked as sole
advisor regarding the deal’s
structure, and was joint global
co-ordinator with Citigroup.
PA R T 0 2
INNOVATIONS
Innovation is at the heart of our unique universal
customer-focused banking model. It is part of the DNA of each
Group entity, both in retail banks and specialist business areas. Our aim
is to encourage all our employees to provide new solutions, both responding
to and anticipating new client requirements. Discover Crédit Agricole’s
innovations in 2014.
I NNOVAT I ONS
CUSTOMER RELATIONS
RESPONDING TO NEW REQUIREMENTS
Our clients’ needs are changing – they want more services, more advice and more
interaction. To meet those needs, we are innovating and changing our approach
to banking. In 2014, we adopted new initiatives with the aim of delivering the best
possible solutions.
A NOVEL, EFFECTIVE CONCEPT
Crédit Agricole’s strength is that it operates
across France, with almost 7,000 branches.
Bank branches remain central to our
relationships with clients: they are the place
where we can listen to them, offer advice
and provide our expertise. How can we make
our branches more attractive? By inventing
new concepts, as the Regional Banks
are currently doing as part of a plan to
transform their networks. Below, we focus
on Caisse Régionale Sud Rhône Alpes
and present innovations through a guided
tour of the Valence Préfecture branch
in the Drôme region.
NEW CONCEPT ALREADY ROLLED
OUT ACROSS 4 BRANCHES
260
80,000
employees.
clients.
26
265
THE DAILY AVERAGE NUMBER OF VISITS
TO THESE NEW BRANCHES, AS OPPOSED
TO 230 FOR TRADITIONAL BRANCHES.
I NNOVAT I ONS
INVENTING THE BANK OF TODAY
MORE ATTRACTIVE BRANCHES
• The full range of expertise available
to customers: day-to-day banking services,
home loans, savings, insurance and business
banking.
• Choice between self-service and expert
assistance: according to their needs, clients
visit the dedicated thematic areas. They can
get the required information in the way that
suits them best: via tablet, quick help from
a member of staff, or expert advice.
• 3 separate areas:
– a discovery space for those simply seeking
information;
– an advice corner for those needing quick help;
– an advice room for more complex matters.
A NEW APPROACH TO CUSTOMER
ASSISTANCE
Client assistance is now a priority for all
employees. Each branch employee seeks
to deal with client requirements as quickly
as possible.
Fanny Hugonnard-Roche,
Specialist in Insurance and Banking Services
“When clients enter the branch, they
now sign in at the welcome terminal. We
must then greet them within two minutes,
whether they have an appointment or not.”
THE BRANCH
H
NC
RA
EB
TH
WELCOME
ADVICE
CORNER
SHARPER SKILLS
A MANAGERIAL PRESENCE
WITHIN BRANCHES
A relationship manager’s role is to create value
from the client base and to co-ordinate
the sales team. Depending on clients’ plans,
the relationship manager may refer them
to specialists. The aim is to meet their
requirements efficiently by offering appropriate,
customised solutions.
Branch managers are now more available
to welcome customers when they arrive
in branches. They also have a greater coaching
role. Their priority is to help their teams
improve their performance and to increase
customer satisfaction.
Benoît Lambaré,
Retail Relationship Manager
Emilie Couderc,
Home Loans Specialist
Frédérique Julien,
Major Branch Manager
“My role is to co-ordinate relationships
with my clients on a broad basis
and to bring in experts to help them
with complex projects.”
“This new organisation has enabled me
to enhance my skills. The ability to deal
immediately with complex home loan
applications is very valuable for our
clients. It increases our credibility.”
“The new organisation is giving staff fresh
momentum and motivation. It encourages
the team to work together to serve clients.
It represents a 180-degree change from
the previous organisation.”
27
MEETINGS
H
NC
RA
EB
TH
I NNOVAT I ONS
BUILDING WITH OUR CLIENTS...
B U S I N E S S R E V I E W 2 0 14 -2 0 15
USING INTERACTIVE TECHNOLOGY
TO GIVE MORE EFFECTIVE ADVICE
ON INSURANCE
Crédit Agricole Assurances’ “e-Roue”
is the first interactive sales support system
that can be shared with clients. It is an
interactive system that makes it easier
for advisors to cover the full range of property
and personal insurance products. The advisor,
having listened carefully to the client’s
requirements, is able to offer a global,
multi-product, customised protection solution
that meets all the client’s needs. “e-Roue”
has been a big success – 88% of clients
and advisors say that it is useful – and new
functionalities were added in September 2014.
A special version for small businesses and
farmers has also been rolled out. “e-Roue”
is now used in 36 Regional Banks.
OPINIONS FROM MILLION CLIENTS
LCL confirmed its status as a pioneering bank
by launching “La Voix du Client”, a permanent
client survey process, in 2011. At the time,
the aim was to give all clients a voice, to better
assess LCL’s effectiveness. It has been
very successful. One million client opinions
have been collected via an online questionnaire
on the LCL.fr website, the LCL app and LCL
in-branch tablets. LCL has used the client
opinions and suggestions collected in this way
to improve its products and services, and also
to enhance client relations. The aim of
“La Voix du Client” between now and 2018
is to continue making client consultation
part of LCL’s DNA.
SELECTING THE RIGHT PRODUCTS
WITH ADVISORS IN BRANCH
When clients come into a branch, they expect
to have a transparent discussion with a skilled
advisor. They want the advisor to help them put
together a customised set of products that is
right for their situation. Crédit Agricole S.A.,
the Regional Banks and Group subsidiaries
held workshops with clients and advisors
to create the first app aimed at improving
the customer/advisor experience in branches.
• all products are listed in a modular format
to make them simpler, clearer and therefore
more transparent;
• they have been integrated into a tablet-based
app to facilitate discussions with advisors;
• the app presents products in an intuitive
way and sets out possible choices: clients
can ask questions at any time, helping them
to get a better understanding of the products
being offered. In the end, the better clients
understand a product’s usefulness and price,
the more likely they are to sign up to it.
28
I NNOVAT I ONS
... TO ENHANCE PERFORMANCE
DIRECT
BANKING
RECEIVING PINS BY TEXT MESSAGE
With this new service introduced by LCL
in 2014, customers who have forgotten their
PIN can be sent a reminder by text message.
This is a practical, rapid and modern solution,
and 75% of LCL clients have expressed
an interest in it.
DIRECT
BANKING
DIRECT
BANKING
CLIENTS WORKING WITH ADVISERS
TO CREATE THE BEST PRODUCTS
We are more effective when we work together.
Based on that principle, CA Consumer
Finance has adopted a system through
which clients can work with Sofinco experts
to devise the best products. By combining
the expertise of Sofinco employees with
opinions provided by client panels and
comparing their points of view, Sofinco has
been able to devise high-quality, effective
products. “Garantie Auto Sofinco” is one
product that has been designed in this
innovative way. Sofinco clients told the
company what they wanted and helped design
products that are ideal for them.
DIRECT
BANKING
CUSTOMER SUGGESTIONS
AND THE BANK’S RESPONSE
Crédit du Maroc has created a new direct
banking service that has been designed
entirely in collaboration with clients. The
service allows clients to access standard
banking services online and in real time. The
service also enables clients to see the full
range of products and services that match
their profile, and allows them to correspond
with their own banking advisor through a
secure messaging service. It is the first online
banking service available in the three
languages of Arabic, French and English.
29
CUSTOMISED APP
Cariparma’s new “Nowbanking” app is the
result of teamwork between clients, bloggers
and employees. That collaboration has resulted
in a customised app that enables clients
not only to manage their accounts from
their smartphones but also access over
40 innovative functions. They include
geolocation services for ATMs and branches
and the payment of postal orders using
the smartphone’s camera.
I NNOVAT I ONS
Edwin @edwincnt • 11 july
B U S I N E S S R E V I E W 2 0 14 -2 0 15
#application #MaBanque
The new #Application#MaBanque from
@CreditAgricole is really great!
http://www.credit-agricole.fr/
applications-credit-agricole.html
NEW TECHNOLOGIES
OFFERING NEW FUNCTIONS
Our customers want more autonomy and access to banking services wherever they are.
In response, the Group launched new apps in 2014 and adjusted its digital tools to fit with
the new ways in which clients use online services.
67% 8.5 M
OF SMARTPHONE USERS
HAVE CARRIED OUT AT LEAST
ONE BANKING TRANSACTION
USING THEIR PHONE*.
THE NUMBER OF VISITS
TO CRÉDIT-AGRICOLE.FR
EVERY MONTH
* TNS Sofres survey (“Les Français, Internet et leur
banque”, 2012).
THE FULL RANGE OF BANKING SERVICES
IN YOUR HAND
CREDIT-AGRICOLE.FR: WEBSITE OF THE YEAR 2014
We revamped our website in 2014. We made it easier to browse
and more user-friendly, and introduced menus based on client
requirements, helping us to support our clients at each stage of their life.
They can visit the site wherever they may find themselves, because
it is 100% compatible with all types of mobile phones and tablets.
The results speak for themselves: Crédit-Agricole.fr won the most votes
from internet users in a recent survey* and is now the “most popular”
site in the “banking and investments” category.
All kinds of people use banking services on smartphones and tablets:
aged 18 to 69, manual workers and executives, men and women.
Mobile phones are now an integral part of clients’ day-to-day lives.
Banking app is the preferred method for managing accounts via a mobile
phone. The three most popular functions are viewing account details,
managing ordinary transactions and finding branch details.
* Over 280,000 people voted in the survey, organised by MetrixLab, across all categories.
30
I NNOVAT I ONS
2.5 M NEW DIGITAL TOOLS TO MAKE OUR CUSTOMERS’
DAY-TO-DAY LIVES EASIER
THE NUMBER OF PEOPLE USING
THE “MA BANQUE” APP MAKING IT
THE LEADING BANKING APP IN TERMS
OF USER NUMBERS.
FACTORING IN A FEW CLICKS
YOUR ADVISOR –
PERMANENTLY ACCESSIBLE
VIA YOUR MOBILE PHONE
“Ma Banque”, the Regional Banks’
account management app, was
upgraded in 2014. It is now more
practical, comprehensive and effective
than ever. New functions include the
ability for clients to see their advisors’
timetables and book an appointment
with them, and to open a current
account from their smartphone
or tablet.
MANAGING ACCOUNTS
FROM YOUR TABLET
SPECIAL SERVICES FOR
INDEPENDENT PROFESSIONALS
The LCL Mes Comptes app is now
available for tablets and features
innovative new functions designed
with the sole aim of making clients’
day-to-day lives easier. Clients can
use the app to transfer money, send
account numbers, sort codes and
IBANs by email, and manage personal
loans. The practical services that the
app provides have earned it a 4-star
rating on the AppStore.
LCL Excellence is an exclusive bank
card specifically for independent
professionals, and has been available
since September 2014. It makes
professionals’ life easier by offering
innovative services, such as
secretarial cover, a 24/7 concierge
service and personalised SMS alerts
enabling them to track payments,
particularly from abroad.
ONLINE PENSION SIMULATOR
The new “Mon assistant retraite”
app for iPad and Android gives all the
information needed to make the best
preparation for retirement: estimating
future income, finding out about
the various pension systems, reading
the latest pension news, and getting
information about products
to supplement pension and which
steps to take.
31
Crédit Agricole Leasing & Factoring
is a pioneer in the French factoring
market, and has innovated again by
launching the Eurofactor Online app,
which can be used on all mobile
devices. Companies and small
businesses can use it to manage their
cash positions and apply for financing
in a fully secure manner. On average,
each client uses the app more than
three times per week.
I NNOVAT I ONS
NEW SERVICES...
SETTING UP YOUR OWN COMPANY WITH
WWW.JESUISENTREPRENEUR.FR
The www.jesuisentrepreneur.fr website
provides budding entrepreneurs with
information about market research, legal
statuses, business plans, support and
financing. It is an educational tool for those
setting up or buying a business, offering
advice, services and tools for each stage of the
process. The site was fully revamped in 2014
to make it more interactive and accessible on
any device, and aims to give entrepreneurs the
best chance of success. It also makes it easier
to contact Regional Bank advisors and
partner networks providing help and support
with setting up a company.
ONLINE GUIDANCE FOR EMPLOYEE
SAVINGS PLANS
“We are now offering the ‘Coach
d’épargne’ (savings coach) service
to savers. Quite simply, we listened
to our clients and gave them what
they asked for. With our websites,
we want to make sure that our
digital communication is determined
by our clients, for our clients.”
Matthieu Berrivin,
Head of marketing for employee savings plans,
Amundi
Employee savings plans: a complicated
business? Not any more since Amundi
launched its new employee savings and
pensions website. All of the group’s
sites – amundi-ee.com, ca-els.com and
pacteo.com – are educational, fun and practical
to use, allowing savers to see, understand
and manage their savings. They take a more
interactive, quirky approach, including videos
and new editorial content about wealth, real
estate and pensions. Amundi is the market
leader in employee savings and pensions and
intends to maintain that position.
TAKING OUT A CONSUMER LOAN ONLINE
The innovative financing solution developed
by Crédit Agricole Consumer Finance
for its partner La Redoute allows customers,
if they so desire, to sign up for a consumer
loan directly from their PC or tablet. They can
fill in the form, download the necessary
documents and sign the contract. The
innovative aspect of the service is that
customers can sign their contract securely
online. The solution resulted in CA Consumer
Finance and La Redoute winning a marketing
innovation award in November 2014.
“This award recognises our
expertise in technological
innovation. Client satisfaction
is at the heart of our strategy,
and innovation is crucial to make
the client experience as simple
and fluid as possible.”
Stéphane Priami,
Crédit Agricole Consumer Finance France
32
MANAGING YOUR PORTFOLIO
IN REAL TIME
In 2014, CACEIS provided its institutional
clients with a new version of its OLIS web
portal, which brings together all of its services
in one place. With one click on a PC or tablet,
clients can access a consolidated overview
of all their portfolios. They can also monitor
portfolios in real time, manage them
and customise their reporting.
I NNOVAT I ONS
... FOR GREATER SIMPLICITY
MORE SECURE TRANSACTIONS
“Electronic payments are giving rise
to new types of fraud, and in
response Crédit Agricole Cards &
Payments has obtained a high level
of expertise and effective systems
for the Crédit Agricole group, to
make all client transactions secure.
We are adjusting our systems on
an ongoing basis to deal with
the constantly changing nature
of cybercrime.”
SMART TPE: THE MOBILE
PAYMENT SOLUTION
INSURANCE CLAIMS:
REPLACING ITEMS ONLINE
After an insurance claim, policyholders can
replace items online via a dedicated web
portal. They receive compensation in the form
of an electronic wallet, which they can use to
buy replacement items from selected partners
or receive a payment card that can be used
in stores. The service is simple, quick and
economical, and allows policyholders to use
their compensation as they wish, choosing
from a wide range of goods. Crédit Agricole
Assurances is the first insurer to offer
a service of this kind.
DISTANCE-SELLING OF BANKING
PRODUCTS
In 2014, LCL introduced a new electronic
distance-selling concept to simplify clients’
day-to-day lives. After speaking with an
advisor on the telephone, a client can sign
a contract online – available in the secure area
of LCL.fr – with a few clicks. In the space of
six months, 3,000 contracts have already been
signed through this new sales channel.
33
SIGNING DOCUMENTS ELECTRONICALLY
AND IN COMPLETE SECURITY
6.4 million documents have already been
signed electronically in branches since
April 2013, and almost 35,000 tablets have
been installed within the Regional Banks.
In-branch electronic signatures mean that
paper documents can be replaced with
electronic ones. As a result, transactions
and contracts can be viewed and consulted
using tablets, and signed using a stylus.
The aim is to replace paper documents entirely
with electronic documents by 2016.
Professionals on the move wanted it, so Crédit
Agricole created it. Smart TPE is an innovative
system that allows professionals to take card
payments using their smartphone. A dedicated
app is installed on the phone, allowing it to
connect with a small, very light card acceptor
device (CAD). No cables are required, since
the two devices communicate via Bluetooth.
In three clicks, the payment is made and
a receipt is emailed directly to the client at
the end of the transaction. A simple, practical
and useful solution.
Bernard Noël,
Crédit Agricole Cards & Payments
I NNOVAT I ONS
SUPPORTING CLIENTS
DESIGNING NEW PRODUCTS AND SERVICES
We aim to offer innovative investments, support clients with their professional and personal plans and
help them to protect themselves. In 2014, our experts worked hard to meet these objectives
by designing new solutions.
PROVIDING EFFECTIVE PROTECTION
B U S I N E S S R E V I E W 2 0 14 -2 0 15
A PIONEERING COLLECTIVE HEALTH
INSURANCE RANGE
By 2016, all companies in France,
regardless of their scale or
business sector, must offer
their employees supplementary
collective health insurance.
Accordingly, in June 2014,
Crédit Agricole Assurances
introduced new products for
very small businesses and
professionals that can be tailored
to meet their requirements as
effectively as possible. In addition,
based on our experience with
supplementary company
NEW COMPREHENSIVE FARMERS’ INSURANCE
POLICIES: A CUSTOMISED APPROACH
There were major changes to Crédit Agricole Assurances’ insurance
range in 2014. The range now offers specific coverage for each area
of the farming industry, with various levels of coverage and customisable
excesses. Winegrowers in particular wanted coverage specific to their
business, and so that is what we are now offering. “Multirisque Agricole”
comprehensive farmers’ insurance also includes “prevention analysis”
to help clients anticipate the risks to which their operations are exposed.
The new range fits with Crédit Agricole’s aim of being the leading
banking and insurance partner of the farming industry, with a penetration
rate of 40% by 2020.
pensions, we are offering
innovative, distinctive new
products for small and
medium-sized businesses and
large corporations, taking a global
approach that includes the right
health, death and disability, and
pension products for their
employees. The overall aim is to
offer business leaders a comprehensive range of workforce-related
products. After a pilot phase in
2014, all 39 Regional Banks are
now distributing these products.
RENOVATING YOUR HOME AND FINANCING HOME EQUIPMENT
UPGRADING LOW-OCCUPANCY PROPERTIES IN SAVOIE
LIFELONG ACCESS TO THE LATEST TECHNOLOGY
Crédit Agricole Consumer Finance is offering owners of apartments
in the Trois Vallées ski area the chance to renovate their properties.
Crédit Agricole des Savoie and Société des Trois Vallées are behind
the initiative which innovates by covering all phases of renovation: initial
analysis, supervision of the work and financing solutions. The aim is to
bring low-occupancy properties up to modern standards, thereby also
helping to increase the region’s appeal.
Clients can have the latest tablets, smartphones and computers for
€30 per month with “Pass Location”. This new product designed
by Crédit Agricole Consumer Finance allows Fnac customers to rent
products with an option to buy. It gives customers the option of
exchanging a product for a newer model after a year, or buying it outright
after two years. Either way, customers remain up to date.
34
I NNOVAT I ONS
OFFERING INNOVATIVE INVESTMENTS
€ 50 M
TAKING ADVANTAGE OF THE NEW BENEFITS
OF EQUITY SAVINGS PLANS
In 2014, France introduced PEA-PME equity savings plans focusing
on shares in small- and mid-cap companies, and offering the same
tax advantages as traditional PEA plans. Another innovation
was that the standard PEA investment limit was increased to
€150,000 per holder. Alongside two of its leading Sicav funds,
Amundi is now offering its Amundi Actions PME small- and
mid-cap fund, which is eligible for both PEA-PME and PEA plans.
These funds are distributed by the Regional Banks and LCL.
THE AMUNDI ACTIONS
PME FUND’S ASSETS
UNDER MANAGEMENT AT
31 DECEMBER 2014,
SUPPORTING SMALL AND
MEDIUM-SIZED COMPANIES
IN FRANCE AND EUROPE.
€75,000
INVESTMENT LIMIT FOR
THE NEW PEA-PME PLAN.
AMUNDI
ACTIONS FRANCE
A selection of French stocks with
the potential for high returns over
a minimum investment horizon
of five years.
AMUNDI ACTIONS PME
A selection of listed and unlisted
companies with strong growth
potential in the eurozone, some
of which are destined to become
major corporations.
123
AMUNDI ACTIONS EUROPE
A selection of high-performance
European stocks, with a minimum
investment horizon of five years.
BOOST YOUR INVESTMENTS WITH “OBJECTIF PROGRAMMÉ”
“Objectif programmé” is a next-generation life insurance investment
plan* from Crédit Agricole Assurances. Clients can now diversify their
investments between non-unit-linked, unit-linked and “croissance/
eurocroissance”. The term, level of coverage and category can be
adjusted to the needs of the saver. In the current low-interest-rate
environment, “Objectif programmé” is a much-needed alternative
to non-unit-linked funds and offers the potential for higher returns.
It is an innovative and customisable solution that allows clients
to prepare for their future plans (studying, buying their main residence
or a second home, preparing for retirement, etc.). It is distributed
by the Regional Banks and LCL.
* Introduced by France’s 2013 Amending Finance Law.
35
I NNOVAT I ONS
ENCOURAGING INVESTMENT…
MEETING FARMERS’ IMMEDIATE
CASH REQUIREMENTS
REDUCING EXPOSURE TO CARBON RISKS
IN FINANCIAL PORTFOLIOS
MSCI Global Low Carbon Leaders. This
is the name for a group of innovative new
indexes that comprise companies whose
carbon emissions and fossil fuel consumption
are much lower than the market average. They
are the first indexes to address these two
aspects of carbon exposure. The indexes have
recently been licensed by Amundi, which was
involved in designing them. The aim is to
create index-tracking funds that support the
transition to a low-carbon economy.
€4.3 Bn
NEW LEASING OUTSTANDINGS IN FRANCE
AND ABROAD IN 2014, UP 5%.
9% GROWTH IN THE SMALL-BUSINESS
MARKET IN FRANCE, WITH 26,728 NEW
CONTRACTS SIGNED.
FINANCING A BUSINESS VEHICLE WITHOUT
A CASH ADVANCE
Renting a vehicle with an option to buy is a
solution offered by Crédit Agricole Leasing
& Factoring (CAL&F). It allows companies to
finance 100% of the VAT-inclusive price of
cars and light commercial vehicles, new and
used (less than six months old), for business or
mixed use. The product is flexible: clients have
the option of buying the vehicle starting in the
13th month, and they can put together their
own repayment schedule and manage
repayments themselves online.
36
Créances Services, a 100% online financing
solution offered by CAL&F, is an innovative
service for farmers. Previously available only
to small businesses, it now enables farmers
as well to cover temporary cash requirements.
The service allows them to assign receivables
of their choice via a dedicated website.
The financing is made available within
24 hours. The service is distributed only
through the Regional Banks. It supplements
traditional financing solutions and its
distinguishing feature is the rapid access
to cash it offers.
I NNOVAT I ONS
… IN THE REAL ECONOMY
HELPING THE CHINESE RENMINBI BECOME
A MORE INTERNATIONAL CURRENCY
On 8 July 2014, Bank of China, via its Paris
branch, became the first institution to issue
an offshore renminbi-denominated benchmark
bond in Paris. Crédit Agricole CIB
co-ordinated the deal, which was highly
successful. The issue raised CNY2 billion
(€237 million) and was oversubscribed
by investors from both Asia and Europe,
illustrating the currency’s increasing
international presence and the key role
that the Paris financial market plays
in the European bond market.
“This successful deal shows our
expertise in the Chinese currency,
due primarily to our Asian
distribution platform, but also our
ability to use our global network
to accompany the renminbi’s
increasing international spread.”
Benjamin Lamberg,
Joint global head of MTNs and private
placements and head of syndication in Asia,
SECURITISATION TO SUPPORT
THE REAL ECONOMY
To support and increase the financing of trade
with emerging-market countries, Crédit
Agricole CIB and IFC – part of the World Bank
group – have joined forces. IFC is providing
a first-loss guarantee on a $2 billion financing
portfolio connected with those countries,
allowing Crédit Agricole CIB to limit its risk
exposure and increase its financing capacity.
“This transaction is a clear sign
of our commitment to supporting
our clients’ activities in emergingmarket countries. We believe that
carefully structured deals like this
one can help develop our lending
and trade finance businesses.”
Régis Monfront,
37
A HISTORIC TRANSACTION IN THE SCOTTISH
MOTORWAY SECTOR
Crédit Agricole CIB has completed the
financing of a £450 million project concerning
three motorways in Scotland. It involves the
first-ever public issue of deferred-drawdown
project financing bonds. The transaction proves
Crédit Agricole CIB’s exceptional ability
to devise innovative financing structures
and to place them in the market.
I NNOVAT I ONS
DEVELOPMENT
HELPING STAFF TO GROW AT EVERY STAGE
OF THEIR CAREERS
We aim to support students and young recruits, facilitate mobility for our employees, enhance our
managerial culture in line with employees expectations and develop our employees’ potential. In 2014,
Group entities adopted new approaches and methods to achieve these common objectives.
EXPERT COACHING FOR POLISH STUDENTS
B U S I N E S S R E V I E W 2 0 14 -2 0 15
Crédit Agricole Bank Polska has launched a mentoring programme
to help students and young graduates with their career choices.
The programme uses social media, and participants can receive
advice from experts in their field of study.
4.47%
PROPORTION OF YOUNG PEOPLE EMPLOYED
ON WORK-STUDY PROGRAMMES WITHIN
THE GROUP, HIGHER THAN THE MINIMUM
REGULATORY REQUIREMENT.
TWO WORK
PLACEMENTS: DOUBLE
THE EXPERIENCE
With the Césure Master Talent
programme introduced in 2014,
the Group allows Master 1
students in France to undertake
two separate six-month work
placements in two different
entities, including LCL and
Crédit Agricole S.A.
“The Master Talents
programme is an ideal
opportunity to get to know
a banking group as a whole
by gaining experience in
two financial occupations,
but also through various
specially organised formal
and informal events during
the year. It is a starting
point for students
considering a career within
Crédit Agricole in France or
abroad.”
Nora Bojikova,
Work placement student
CARIPARMA, “BEST EMPLOYER” IN 2014
This award recognises the quality of Cariparma’s working conditions
and environment. It confirms the bank’s leadership in the field of human
resources and its constant efforts to improve its practices regarding
employment and staff development.
38
I NNOVAT I ONS
TALENT: FROM POTENTIAL TO FULFILMENT
CONSOLIDATING CAREER PROGRESS
EVE SEMINAR: A BIG SUCCESS
In 2014, Group entities jointly developed My Way, a fully online
employees development platform to assess and enhance the potential
of young employees with 2-8 years of professional experience.
In October 2014, 300 people from a range of companies, 30% of them
men, took part in the fifth EVE seminar, of which Crédit Agricole S.A.
is a founding partner. The theme of this female leadership programme
is “take action by daring to be yourself”.
A JOINT PROGRAMME IN
WHICH PARTICIPANTS
SHARE A SINGLE
FRAMEWORK
ACCESSIBLE
FROM FRANCE
AND ABROAD
55 EMPLOYEES
HAVE TAKEN PART
CRÉDIT AGRICOLE LOUISE TALLERIE PRIZE
FOR STUDENTS: A UNIQUE CHALLENGE
FOR AMBITIOUS STUDENTS
CULTIVATING DIVERSITY, AN INEXHAUSTIBLE
RESOURCE
Diversity within a company also encompasses the wealth of experience
that each person has. LCL’s Pépinières course allows students with a
graduate degree but no banking qualifications to receive training in the
various occupations within retail banking. They undertake a 9- to
18-month professional development contract depending on their position,
and alternate between practical experience and training modules. A year
of successful work experience can result in a full-time job.
In the last two years, this competition – which is exclusively for female
students – allows innovation-minded young women to demonstrate
their talent and ideas to Group managers and executives. It is a real
springboard and a unique opportunity for students to get their careers
off to a confident start.
Floria-Margaux Vieux,
2014 winner
“The “Move Forward”
programme strengthens
the gender diversity.”
“The competition made me more
self-confident and more confident
about my ability to back my own ideas
and contribute to a practical project
that addresses a real issue. I learnt
a lot about my role and position within
a team. I definitely think it was a unique
experience that is a real plus-point
for my CV.”
Christophe Gibaud,
Chief Financial Officer and Chief
Actuary,
La Médicale de France,
Crédit Agricole Assurances group
39
32
FUTURE EXECUTIVES, OF WHICH
77% WOMEN, TOOK PART
IN THE “MOVE FORWARD”
LEADERSHIP AND DIVERSITY
PROGRAMME IN 2014.
STRONGER LINKS BETWEEN
STAFF, MANAGERS
AND HUMAN RESOURCES
I NNOVAT I ONS
FACILITATING MOBILITY
MOBILI’DAYS 2014 IN FIGURES
BOOSTING GROUP CAREERS
• 2,000 employees
• Around 20 participating entities
• Over 35 conferences
• 577 HR workshops
With its Mobili’days events, Crédit Agricole S.A.
encourages employees transfers between
Group entities. Mobili’days events cover a range
of occupations and involve operational
and HR staff, enabling employees to get to
know the Group better and identify their skills
through workshops. The aim is to equip
them with all the tools they need to make
the most of their career.
B U S I N E S S R E V I E W 2 0 14 -2 0 15
“I went to Mobili’days to look
for ideas, I wanted to move from
a human resources job to a more
operational role.”
0,566
MYJOBS ACCOUNTS CREATED BY EMPLOYEES
BY MID-DECEMBER 2014, LESS THAN
TWO MONTHS AFTER LAUNCH.
ALL GROUP OCCUPATIONS IN ONE TOOL
MyJobs aims to raise the profile of all
occupations within Crédit Agricole
subsidiaries and boost mobility. It is a new
HR IT system resulting from work done
by around 60 sector specialists.
Marie-Gwendoline Audebert,
Head of Regional Bank Accounts,
Crédit Agricole Cards & Payments
DIRECT
BANKING
DIRECT
BANKING
40
I NNOVAT I ONS
SHARING A COMMON CULTURE
CARIPARMA: COMMITTED TO WOMEN
For years, Cariparma has sought to make
the most of its female talent. The resulting
commitment to diversity, which adds real
value, is central to Cariparma’s policy.
That commitment is shown by the Artemisia
project, which brings together Cariparma’s
initiatives and new ways of meeting women’s
needs more effectively within the group.
A Leadership & Gender training course has
been launched, and other projects are
underway. Internally, for example, the Maam
project aims to support female employees
before, during and after maternity leave.
In June, the “Making a difference” white paper
was presented to the Italian parliament
and distributed to all Cariparma employees.
RESPONSIBLE, RESPECTFUL MANAGEMENT
As part of the “Agir pour la performance”
initiative, 18 executives took part in joint
development workshops in 2014. In particular,
they worked together on building a more open
managerial culture that meets the expectations
of employees.
A FUN WAY OF CREATING MANAGERIAL
CONNECTIONS
EXCHANGES IN 2014 THROUGH
“DESTINATIONS À L’INTERNATIONAL”,
A NOVEL PROGRAMME OF EXPERT
ASSIGNMENTS AND EXCHANGES BETWEEN
RETAIL BANK NETWORKS IN FRANCE
AND ABROAD. JOINT AMBITION: TO BE
THE EUROPEAN LEADER IN UNIVERSAL
CUSTOMER-FOCUSED BANKING.
“Actes RH” is a one-day training course that
the Credit Agricole Leasing & Factoring’s
HR department offers to its managers.
Uniquely, the course involves a game based
on Trivial Pursuit. Participants win wedges
by meeting targets relating to raising
awareness, professionalism and motivation
among managers regarding the HR dimension
of their managerial actions. The question cards
feature questions and situations taken from
managerial experiences. The game-based
approach makes learning easier: participants
get involved in the game and are encouraged
to discuss tips and best practice.
41
“The format and innovative hosting of
CACEIS’ ‘being a manager’ seminar
encourage valuable, practical
discussions between participants.
The seminar deals with the main
managerial themes without
constraint. The flexible organisation
and freedom to speak mean that
participants can discuss things that
are normally left unsaid, and address
issues that they encounter on a
day-to-day basis. We see some
particularly interesting discussions
about CACEIS’ fundamentals, which
encourages people to apply the
group’s core values in their work and
to make progress as managers.”
Arnaud Misset,
Head of Products, CACEIS group
CACEIS’ “BEING A MANAGER” SEMINAR:
“VALUABLE, PRACTICAL DISCUSSIONS”
PA R T 0 3
ACTIONS
Being the leading universal customer-focused bank means acting
at the heart of the real economy in any way possible. In 2014, once
again, that aim was realised through initiatives in each of our business lines and
in our HR policy. It also resulted in a more solid financial position for the Group
and a greater focus on CSR in our governance.
ACTIONS
ACTING
ON A DAILY BASIS
€58,000
B U S I N E S S R E V I E W 2 0 14 -2 0 15
COLLECTED BY CRÉDIT AGRICOLE GROUP
EMPLOYEES DURING COMMUNITY DAYS.
CRÉDIT AGRICOLE ASSURANCES HAS MOVED
UP TO FIRST PLACE AMONG FRENCH
INSURANCE GROUPS IN TERMS OF REVENUE,
WHICH TOTALLED €21.8 BILLION IN 2013.
IT MOVED UP TWO PLACES COMPARED
WITH PREVIOUS YEAR.
€2.3 M
OF GRANTS MADE BY THE CRÉDIT
AGRICOLE-PAYS DE FRANCE FOUNDATION
ALONGSIDE THE REGIONAL BANKS.
SODICA: A GREAT VINTAGE
CACIF subsidiary SODICA specialises
in acquisitions, disposals and financial
engineering, and with “SODICA Millésime”,
it advises small- and mid-cap companies
valued at over €5 million and operating
in wine production and distribution.
LCL WON THE “CORBEILLE
D’OR 2014” AWARD
for the best-performing Sicav range over one
year, with no fewer than seven funds rated.
EUROFACTOR, THE SINGLE
TRADING NAME OF
CRÉDIT AGRICOLE LEASING
& FACTORING (CAL&F)
for all of the Crédit Agricole group’s factoring
solutions. At end-2014, CAL&F’s leasing
and factoring outstandings totalled
€20.3 billion.
AMUNDI AND THE ECB
Amundi was selected by the European Central Bank to support its programme of purchasing
asset-backed securities (ABSs) in the markets, with the aim of getting credit flowing more freely
in the eurozone and stimulating its economy.
44
ACTIONS
CRÉDIT AGRICOLE S.A. –
A MEMBER OF SIX
BENCHMARK CSR INDEXES
In 2014, Crédit Agricole became part
of the STOXX Global ESG Leaders indexes,
which feature the world’s best-performing
companies in terms of ESG (environmental,
social and governance) criteria. The Group
is now an “industry leader”, which means
that it is among the top 5% of all companies
based on ESG ratings.
FARM: A THINK TANK FOCUSING ON THE REALITIES
OF DEVELOPING COUNTRIES
FARM (Fondation pour l’Agriculture et la Ruralité dans le Monde) seeks to advance the debate
about agricultural development, for example via the “Agriculture neglected: breeding ground
for insecurity” conference held at the OECD on 16 December 2014. The foundation is also
increasing its work on the ground through pilot projects in West and North Africa.
CRÉDIT AGRICOLE PRIVATE
BANKING
In 2014, over 2.3 billion SEPA transactions
were handled by the Crédit Agricole Cards
& Payments platform. Since 1 August 2014,
all domestic direct debits and credit transfers
were replaced by SEPA direct debits (SDDs)
and SEPA credit transfers (SCTs).
This European project has involved all
Crédit Agricole group entities, particularly
those in the Payment business.
is setting up a wealth management unit
in Milan, Italy, under the CA Indosuez
Wealth Management brand, as part of efforts
to grow its business in Europe.
NUMEROUS AWARDS FOR
CRÉDIT AGRICOLE CIB
In 2014, Crédit Agricole CIB was named
Bank of the Year for rail and airport financing
by Global Transportation Finance, and Bank
of the Year in project financing bond issues
by Project Finance International.
LE SUCCÈS DU LIVRET
SOCIÉTAIRE DES
CAISSES RÉGIONALES
SEPA PROJECT: MOBILISING
THE WHOLE GROUP
“DOSSIER FAMILIAL”:
FRANCE’S LEADING
MONTHLY MAGAZINE
This magazine, published by Uni-éditions,
had a paid circulation of 1,061,000* in 2014.
* Source: OJD 2014, paid circulation in France.
7,4 milliards d’euros : c’est le montant de la
45
307,000
HOMES MANAGED BY CRÉDIT AGRICOLE
IMMOBILIER AND SQUARE HABITAT
AS PART OF THEIR PROPERTY
ADMINISTRATION ACTIVITIES.
otal,
ont
taux
ACTIONS
CA CONSUMER FINANCE
IS DIVERSIFYING ITS
FINANCING SOURCES
CACEIS EXPANDING ITS RANGE OF SERVICE
for institutional investors: execution and clearing services, along with a global product range
for managers of real-estate, private equity, infrastructure and debt funds.
€2.6 BILLION
of revenue for international retail banks
in six main countries (Italy, Poland, Ukraine,
Serbia, Morocco and Egypt), a 5.3%*
year-on-year increase.
* Excluding items recognised by Cariparma in its local 2013 financial
statements and by Crédit Agricole S.A. in 2014.
GRAMEEN CRÉDIT AGRICOLE
FOUNDATION: 35 NEW
FINANCING ARRANGEMENTS
in the form of loans, guarantees and equity
investments for microfinance institutions
and social business enterprises. Since
the foundation was created, 144 financing
arrangements have been approved,
totalling €91 million.
46
CA Consumer Finance had €69 billion
of credit outstanding at end-2014. As part
of its strategy to diversify its financing sources,
it increased its self-funding rate to 59%,
ranking itself second in Europe for ABS,
partly through further securitisation deals
and partly by increasing savings deposit
inflows from consumers in Germany.
22.8%
CRÉDIT AGRICOLE REGIONAL BANKS’
SHARE OF THE FRENCH HOME LOANS
MARKET IN 2014.
+4%
INCREASE OF LCL’S HOME LOANS IN 2014.
ACTIONS
THE REGIONAL BANKS’
“LIVRET SOCIÉTAIRE”
SAVINGS ACCOUNT: A BIG HIT
The Group has become the main shareholder, alongside the Ramsay group, in Générale de Santé S.A.,
France’s leading private-hospital operator. The Group is also continuing its efforts to support
France’s ageing population by taking a 35% stake in Cogedim Résidences Services, which
operates senior residences.
LE SUCCÈS DU LIVRET
SOCIÉTAIRE DES
CAISSES RÉGIONALES
7,4 milliards d’euros : c’est le montant de la
collecte du livret sociétaire proposé par les
Caisses régionales de Crédit Agricole. Au total,
ce sont plus d’un million de sociétaires qui ont
opté pour ce livret innovant qui propose un taux
avantageux et contribue au développement
de leur territoire grâce à l’accumulation
The deals carried out by Crédit Agricole CIB
de Tookets, monnaie solidaire.
in 2014 included the stockmarket flotation
of Elior, support for Numericable in its
acquisition of SFR and the $1.5 billion
with the acquisition of the asset-management
unsecured bond issue for Ford. It was
subsidiary of Austrian bank BAWAG P.S.K.
also involved, via a public-private partnership,
Invest. Amundi has also opened a subsidiary
in arranging one of the largest ever financing
in Poland and offices in Switzerland,
deals in the UK rail infrastructure sector
the Netherlands, Thailand and Mexico.
for Hitachi/John Laing.
MAJOR TRANSACTIONS
FOR CRÉDIT AGRICOLE CIB
7,000
NUMBER OF NEW FARMING AND FOOD
CLIENTS FOR THE GROUP’S INTERNATIONAL
RETAIL BANKS.
AMUNDI IS BOLSTERING ITS
INTERNATIONAL POSITIONS
47
CRÉDIT AGRICOLE ASSURANCES IS ENHANCING ITS
HEALTH INSURANCE SKILLS
€7.4 billion of deposits in “livret sociétaire”
mutual shareholder savings accounts offered
by Crédit Agricole’s Regional Banks. Overall,
more than a million mutual shareholders have
opened these innovative accounts, which offer
a preferential interest rate and support local
development by allowing savers to accumulate
Tookets, a community currency.
ACTIONS
PROGRESSING
TOGETHER
40,000
2,500
30%
EMPLOYEES IN 54 COUNTRIES.
OVER
B U S I N E S S R E V I E W 2 0 14 -2 0 15
EMPLOYEE TRANSFERS*.
INCREASE IN THE NUMBER OF EMPLOYEES
RECEIVING A PROMOTION**.
MEASURING EMPLOYEE
COMMITMENT
In 2014, the Group created its “Commitment
and Recommendation” index (known as
the “IER”), in order to make the commitment
shown by employees and managers a strategic
part of its HR policy. The aim is to encourage
them to show their commitment to the
company, its values and its development.
The IER is directly inspired by methods used
to improve customer satisfaction based
on Customer Recommendation Indexes.
The Group wanted to apply the same process
to employees based on the concept of
“symmetry of attention”, which states that if
you look after your employees, they will look
after your customers. Long-term customer
satisfaction is not possible without committed
staff. The final objective of the IER is therefore
to make staff more motivated and to enhance
the commercial performance of Group entities.
EMBODYING GROUP VALUES
We are developing an “employer offering”
across the Group to make our fundamental
values a reality in the day-to-day work of our
employees. A career with Crédit Agricole is
an opportunity to pursue various occupations,
develop skills and take on responsibility.
In 2014, a common HR policy based on these
principles was defined for the whole Group.
That policy will now be rolled out within
the Group and publicised externally.
985
37%
CANDIDATES FOR THE GROUP CONTROL
AND AUDIT COMPETITION*.
OF PEOPLE GIVEN PERMANENT CONTRACTS
WERE PREVIOUSLY ON FIXED-TERM
CONTRACTS OR WORK-STUDY CONTRACTS,
AN INCREASE OF 3 POINTS YEAR-ON-YEAR*.
Pierre Deheunynck,
Head of Group Human Resources
“In accordance with the Group’s values –
solidarity, responsibility, local presence,
innovation, customer satisfaction and
long-term performance – it is vital that
all employees and candidates associate
Crédit Agricole with common HR principles
that are shared by the Regional Banks and
all subsidiaries. Developing a common
employer offering and brand will enable us
to further enhance employee commitment
and attract new talent.”
* Scope: Crédit Agricole S.A. and its subsidiaries in 2014.
** In 2014 relative to 2013, Crédit Agricole S.A. and its subsidiaries.
48
ACCELERATED RECRUITMENT
On 14 October 2014, LCL organised a
recruitment day in Paris, with the aim of hiring
400 people on permanent contracts, both
recent graduates but also experienced workers.
The day included speed-recruiting, networking
events and round-table discussions.
Over 1,000 candidates attended, well above
the target.
ACTIONS
ENSURING EQUAL
OPPORTUNITY
WELCOMING NEW TALENT
TRAINING EUROPEAN
STUDENTS
Charles Pacini, EM Lyon conference
of 22 January 2015, member
of the Graduate Programme
“I have been working at Crédit Agricole S.A.
for five months now, and I already have
a good overview of Crédit Agricole and its
challenges. I joined the finance department
and I was very quickly given responsibility,
taking part in the production of financial
information. The programme really
accelerates your career because of the
quality of work you are given.”
For the ninth consecutive year and as part
of the Copernic programme, CA Consumer
Finance and Crédit Agricole S.A. offered
work placements to students from universities
in Central and Eastern Europe who were
also given the chance to study at elite
French “Grandes Écoles” (Sciences Po,
Mines Paris Tech, etc.).
Thanks to all the mentors
at @Asso_NQT
NQT @Asso_NQT · 27 nov.
ODYSSÉE
This is the name given by participants
and mentors to the recruitment programme
launched by Amundi in 2014. Ten young
graduates from prestigious French schools and
universities, who were already on work-study
programmes with Amundi, were recruited and
followed a specific integration programme.
Today, the Crédit Agricole group
is supporting the fifth equal
opportunities event organised
by @asso_NQT ! #RNQT2014
Crédit Agricole RH @GroupeCA_RH · 27 nov.
49
Graduate Programme is aimed at Masters-level graduates who want to join the Group on a
permanent contract and take on two positions of responsibility within four years, with international
exposure. In 2014, Crédit Agricole S.A., Crédit Agricole CIB, LCL and Crédit Agricole Assurances
welcomed nine graduates, who have since been discovering the Group’s diversity and strategic
plans, as well as following a high-level training programme.
The Group has teamed up with two charities
that work to promote equal opportunity and
diversity. Since 2008, the Group has been a
partner of the “Nos quartiers ont du Talent”
programme, offering young graduates the
chance of being mentored by senior executives.
As part of this programme’s fifth annual event
in France, 22 Group employees provided
coaching to 182 young people. Under the
“Mozaïk RH” programme, Amundi, Crédit
Agricole S.A., Crédit Agricole CIB, LCL,
CA Consumer Finance, CAL&F and CACEIS
recruited 11 people on work-study contracts
and CACEIS Bank Luxembourg took on two
young people on work placements.
ACTIONS
DELIVERING SUSTAINABLE
PERFORMANCE
REVENUES
GROSS OPERATING INCOME
NET INCOME GROUP SHARE
€ 5.9 €4.8 €2.3
B U S I N E S S R E V I E W 2 0 14 -2 0 15
Billion
Billion
Billion
RESULTS IN LINE WITH
OUR PROJECTIONS
In 2014, net income Group share totalled €2,340 million. Adjusted
for non-recurring items – relating to BES and accounting items
in particular – income amounted to €3,350 million. These earnings
were driven by a resilient performance in French retail banking,
growth in other business lines, a further reduction in expenses
and a sharp drop in the cost of risk, all against the background
of a still-weak operating environment.
STRONG COMMERCIAL
ACTIVITY
ON-BALANCE SHEET DEPOSITS (IN € BN)
LOANS OUTSTANDING (IN € BN)
RETAIL BANKING IN FRANCE
RETAIL BANKING IN FRANCE
+2.6%
+0.9%
433
2013
444
2014
491
487
2013
2014
50
ASSETS UNDER MANAGEMENT (IN € BN)
+9.8%
1,144
2013
1,256
2014
ACTIONS
CONFIRMATION OF
THE GROUP’S SOLID FOUNDATIONS
In 2014, we strengthened our balance sheet by improving solvency and
liquidity, both at the Crédit Agricole S.A. and Crédit Agricole group levels.
All indicators and results from the Asset Quality Review (AQR) and Stress
Tests show that we are one of the most solid European banking groups.
Active capital management (e.g. the issuance of hybrid debt), firm profits,
the Group’s unique business model (with over 85% of dividends being
paid out in the form of shares) and a firm grip on risk-weighted assets
resulted in a significant improvement in capital adequacy ratios. As a
result, Crédit Agricole S.A.’s Common Equity Tier 1 ratio rose from
8.5% to 10.4% year-on-year, and that of the Crédit Agricole group
increased from 11.3% to 13.1%. Both entities’ leverage ratios are already
higher than the minimum requirement in 2018. As regards liquidity, the
Group’s surplus of long-term funding resources over long-term
applications of funds rose sharply to €101 billion, and the Group ended
2014 with €246 billion of liquidity reserves, more than twice its level
of gross short-term debt. With Liquidity Coverage Ratios of over 110%,
both Crédit Agricole S.A. and the Crédit Agricole group are complying
with the target level of at least 100%.
SIGNIFICANT INCREASE
IN EQUITY GROUP SHARE
+18.4%
€40.2
€42.3
Bn
€50.1
Bn
2012
2013
2014
Bn
+6.9%
+13.6%
€71.4
€76.3
Bn
€86.7
Bn
2012
2013
2014
Bn
FULLY-LOADED CET RATIOS HIGHER
THAN THE SOLVENCY REQUIREMENTS*
LEVERAGE RATIOS BEYOND
THE 2018 REGULATORY REQUIREMENT*
4.2 %
10.4%
+5.2%
13.1%
5.2 %
Regulatory
requirements
at 1st January
2018 (3%)
Crédit Agricole Group
Crédit Agricole Group
* As at 31/12/2014
51
ACTIONS
CRÉDIT AGRICOLE S.A. SHARE PRICE UP
MORE THAN 15% IN 2014
140
130
120
110
100
90
80
CAC 40
STXE600BK
31/12/2014
factors: the strengthening in its balance sheet, the completion of
refocusing transactions (disposals of Bulgarian businesses and the Nordic
subsidiaries of CACF in particular) and earnings growth (excluding BES).
2012
DIVIDEND PER SHARE
Number shares in issue*
OWNERSHIP STRUCTURE
AT 31 DECEMBER 2014
30/11/2014
Share price (base 31/12/2013 = 100).
In 2014, Crédit Agricole S.A.’s share price rose by 15.6%, outperforming
the CAC 40 (-0.5%) and the DJ Stoxx 600 Banks index (-3.0%). The rise
in Crédit Agricole S.A.’s share price was driven by company-specific
€0.35
31/10/2014
30/09/2014
31/08/2014
31/07/2014
30/06/2014
31/05/2014
30/04/2014
31/03/2014
28/02/2014
31/01/2014
31/12/2013
B U S I N E S S R E V I E W 2 0 14 -2 0 15
70
2013
2014
2,498,020,537 2,501,589,997 2,576,365,774
Stock market capitalisation at 31/12
(in billions of euros)
15.2
23.3
27.7
Dividend per share (in euro)**
None
0.35
0.35
Distribution rate
None
35%
43%
Earnings per share (EPS) (in euros)
-2.58
1.01
0.83
Net asset value per share (NAVPS)
(in euros)
16.1
16.9
18.0
High (during trading day)
6.56
9.50
12.22
Low (during trading day)
2.84
5.95
9.14
Final (closing price at 31 December)
6.08
9.31
10.76
Share prices during year (in euros)
56.5%
29.5%
9.8%
4.0%
0.2%
SAS Rue La Boétie
Institutional investors
Individual shareholders
Employees (employee mutual funds)
Treasury shares
Change over the year
39.5%
52.9%
15.6%
CAC 40 change
15.2%
18.0%
-0.5%
* At 31 December 2014, Crédit Agricole S.A.’s share capital amounted to €7,729,097,332, made up of 2,576,365,774 shares with par value
of €3 each.
** The Board of Directors has decided to propose a dividend of €0.35 per share to shareholders in the 20 May 2015 AGM. There will be
two dividend payment options: payment in cash or shares. Shareholders qualifying for the loyalty dividend will receive a dividend of €0.385
per share.
52
ACTIONS
REGULAR INTERACTION WITH CRÉDIT AGRICOLE S.A.
SHAREHOLDERS
With 1.1 million individual shareholders and 29.5% of its shares owned by
institutional investors, Crédit Agricole S.A. makes every effort to address
shareholder queries through an information and communication system
focusing on direct contact. In 2014, the individual shareholder relations
team dealt with over 1,500 emails and almost 3,900 phone calls.
Information events across France, mostly led by members of executive
management, attracted 3,500 individual shareholders. The investor
relations team led a number of roadshows following the presentation of
results and the medium-term plan, to meet and strengthen relationships
with numerous asset managers and analysts.
EVENTS FOR INDIVIDUAL SHAREHOLDERS
Montrouge
Marne-la-Vallée
Paris
Reims
Nancy
Lille
Paris
Caen
Salon Actionaria
Saint-Brieuc
Laval
Angers
Poitiers
M*
INDIVIDUAL SHAREHOLDERS
THE LEADING CAC 40 COMPANY BY NUMBER
OF INDIVIDUAL SHAREHOLDERS
Dijon
Montluçon
Aix-les-Bains
Limoges
Clermont-Ferrand
Montpellier
Nice
Annual General Meeting
* Figures as at 31/12/2014
2014
2015
MEETINGS WITH INSTITUTIONAL INVESTORS
29.5
%*
OF SHARES HELD BY INSTITUTIONAL
INVESTORS, MAINLY IN EUROPE,
NORTH AMERICA ET ASIA
Europe:
Dublin, Edinburgh, Frankfurt, Geneva, Helsinki, London, Lugano, Luxembourg, Madrid,
Miami, Milan, Munich, Oslo, Paris, Rotterdam, Stockholm, The Hague, Zurich
Asia:
Hong Kong, Singapore, Tokyo
* Figures as at 31/12/2014
North America:
Denver, Fort Lauderdale, Houston, Kansas City, Los Angeles, Montreal, Newport, New York,
Philadelphia, San Diego, San Francisco, Santa Fe, Stamford, Toronto, Wilmington
53
.
Lille
Amiens
Rouen
ACTIONS
DECIDING
FOR THE FUTURE
B U S I N E S S R E V I E W 2 0 14 -2 0 15
Crédit Agricole S.A. is mostly owned by the Crédit Agricole
Regional Banks. Its governance model draws both upon
the mutualist values that form the basis for the Group, and on
the rules applied by major European listed companies.
6
99%
ATTENDANCE RATE
AT BOARD
30
INDEPENDENT
DIRECTORS
MEETINGS OF THE BOARD
AND COMMITTEES
21 DIRECTORS
1
6
10
1
1
2
10
1
6
Directors who are Chairmen or Chief Executive
of Crédit Agricole Regional Banks
Regional Bank Chairman representing
SAS Rue La Boétie
Directors from outside Crédit Agricole Group
1
1
Regional Bank employee
Director representing professional agricultural
organisations, appointed by joint decree
of the Ministry of Finance and the Ministry
of Agriculture
54
2
Directors elected by the employees
of Crédit Agricole S.A.
ACTIONS
4 SPECIALISED COMMITTEES
AUDIT AND RISKS
COMMITTEE
STRATEGIC AND CORPORATE
SOCIAL RESPONSIBILITY
COMMITTEE*
COMPENSATION
COMMITTEE
APPOINTMENTS AND
GOVERNANCE COMMITTEE
9
92%
4
100%
5
96%
5
97%
Meetings
Attendance
rate
Meetings
Attendance
rate
Meetings
Attendance
rate
Meetings
Attendance
rate
*New name since February 2015.
SPLIT GOVERNANCE STRUCTURE
WITH CLEARLY DEFINED ROLES
In line with Crédit Agricole’s founding mutualist
values and co-operative principles,
Crédit Agricole S.A. has adopted a governance
structure that involves a clear separation
between executive responsibilities and
control and supervisory responsibilities.
The Chairman of the Board of Directors
does not have an executive role, and
the Chief Executive Officer and deputy CEOs
are not directors of the Company. This
separation of functions makes governance
more effective.
CORPORATE SOCIAL RESPONSIBILITY: AN
INTEGRAL PART OF THE GROUP’S STRATEGY
Corporate social responsibility (CSR) is now a
central concern for Crédit Agricole S.A. and all
of its stakeholders. Energy transition, employee
commitment and the creation of a responsible
procurement policy are some of the issues
being given strategic priority for the company
and the Group as a whole. Accordingly, in early
2015, the Board of Directors decided to
increase the powers of its Strategy Committee,
which will now be called the “Strategy and
Corporate Social Responsibility Committee”.
ASSESSING THE BOARD OF DIRECTORS’
WORK
The Board has assessed its operating
procedures with the help of an external
consultancy and under the guidance
of the Appointments and Governance
Committee. The guidelines resulting from
that assessment will be implemented
throughout 2015 and have four main aims:
• organising the Board’s work and operating
procedures,
• increasing transparency regarding strategic
discussions within the Board,
55
• training and informing directors,
• enhancing governance, taking into account
new guidelines resulting from CRD IV
(European Capital Requirements Directive),
particularly regarding risk management
and prudential supervision (separation
of the Audit and Risks Committee into
two separate committees).
Through these measures, Crédit Agricole S.A.
is aiming to achieve the highest governance
standards.
A COLLEGIAL BODY SERVING
ALL SHAREHOLDERS
ACTIONS
THE BOARD
OF DIRECTORS
B U S I N E S S R E V I E W 2 0 14 -2 0 15
A S AT 17 F E BRU A R Y 2 015
01
02
03
04
05
06
09
10
11
07
12
01 - Jean-Marie Sander
Chairman of the Board of Directors
Chairman of the Caisse régionale Alsace Vosges
04 - Roger Andrieu(1)
Chairman of the Caisse régionale des Côtes d’Armor
08 - Jean-Louis Delorme
Chairman of the Caisse régionale de Franche-Comté
—
—
—
05 - Pascale Berger
Representing Crédit Agricole Regional Banks employees
09 - Laurence Dors
Director associated Anthenor Partners
Non-executive independent Director
02 - Dominique Lefebvre
Deputy Chairman of the Board of Directors
Chairman of the Caisse régionale Val de France
Chairman of Fédération Nationale du Crédit Agricole (FNCA)
and SAS Rue La Boétie
—
06 - Caroline Catoire
Chief Financial Officier of Métalor
—
—
03 - Philippe Brassac
Deputy Chairman of the Board of Directors
Chief Executive Officer of the Caisse régionale Provence
Côte d’Azur
Secretary General of Fédération Nationale du Crédit
Agricole (FNCA)
Deputy Chairman of SAS Rue La Boétie
07 - Pascal Célérier
Chief Executive Officer of the Caisse régionale de Paris
et d’Île-de-France
(1)
Co-opted by the Board of Directors on 17 February 2015. This
co-optation will be subject to ratification by the Crédit Agricole S.A.
General Meeting of Shareholders.
56
08
—
10 - Daniel Épron
Chairman of the Caisse régionale de Normandie
—
11 - Véronique Flachaire
Chief Executive Officer of Caisse régionale du Languedoc
—
12 - Jean-Pierre Gaillard
Chairman of the Caisse régionale Sud Rhône Alpes
ACTIONS
“SERVING THE INTERESTS
OF ALL STAKEHOLDERS
IN ACCORDANCE WITH GOOD
GOVERNANCE RULES.”
JEAN-MARIE SANDER
CHAIRMAN OF THE BOARD OF DIRECTORS
13
21
15
16
17
18
19
22
23
24
13 - Françoise Gri
Corporate Director
17 - Christian Streiff
Deputy Chairman of the Safran Group
21 - Christian Moueza
Representing the employees (UES - Crédit Agricole S.A.)
—
—
—
14 - Monica Mondardini
Deputy Director of CIR S.p.A.
Deputy Director of Gruppo Editoriale L’Espresso 18 - François Veverka
Corporate Director
22 - François Macé
Non-voting Board Member
Chief Executive Officer of Caisse régionale Nord de France
—
19 - Xavier Beulin
Representing the professional agricultural organisations
Chairman of the FNSEA (Fédération nationale des syndicats
d’exploitants agricoles)
—
15 - Gérard Ouvrier-Buffet
Chief Executive Officer of the Caisse régionale Loire
Haute-Loire
—
—
—
16 - Jean-Louis Roveyaz
Chairman of the Caisse régionale de l’Anjou et du Maine
20 - François Heyman
Representing the employees (UES - Crédit Agricole S.A.)
24 - Bernard de Drée
Representing of the Works’ Council
—
57
23 - François Thibault
Non-voting Board Member
Chairman of the Caisse régionale Centre Loire
20
14
ACTIONS
THE MANAGEMENT COMMITTEE
AND THE EXECUTIVE COMMITTEE
B U S I N E S S R E V I E W 2 0 14 -2 0 15
A S AT 17 F E BRU A R Y 2 015
01
02
05
06
THE MANAGEMENT COMMITTEE
01 - Jean-Paul Chifflet
Chief Executive Officer
—
02 - Jean-Yves Hocher
Deputy Chief Executive Officer, Responsible for Corporate
and investment banking and private banking
—
03 - Bruno de Laage
Deputy Chief Executive Officer, Responsible for French
retail banking, Specialised financial services and Group
Payments
03
04
07
05 - Xavier Musca
Deputy Chief Executive Officer, Responsible for International
retail banking, asset management and insurance
10 - Olivier Gavalda
Head of the Regional Banks division
—
11 - Jérôme Grivet
Chief Executive Officer of Crédit Agricole Assurances
06 - Joseph d’Auzay
Secretary General of Crédit Agricole S.A.
—
07 - Pierre Deheunynck
Head of Group Human Resources
—
—
—
12 - Yves Nanquette
Chief Executive Officer of LCL
—
08 - Bernard Delpit
Group Chief Financial Officer
13 - Yves Perrier
Head of Asset management, securities and investor
services
—
—
—
04 - Michel Mathieu
Deputy Chief Executive Officer, Responsible for Group
Central Functions
09 - Philippe Dumont
Chief Executive Officer of Crédit Agricole Consumer Finance
14 - Hubert Reynier
Head of Group Risk Management and Permanent Controls
58
ACTIONS
“TOGETHER, WE HAVE GOT
THE GROUP BACK INTO GOOD
WORKING ORDER. TODAY,
CREDIT AGRICOLE IS ONE OF
EUROPE’S MOST SOLID BANKS.
I AM PROUD OF WHAT WE HAVE
ACCOMPLISHED.”
JEAN-PAUL CHIFFLET
08
10
11
12
13
14
THE EXECUTIVE COMMITTEE IS COMPOSED
OF THE MEMBERS OF THE MANAGEMENT
COMMITTEE, PLUS:
Jean-Christophe Kiren
Head of Group Payments
Jérôme Brunel
Head of Public Affairs
Giampiero Maioli
Head of Crédit Agricole S.A. Group’s in Italy
—
—
Philippe Carayol
Chief Executive Officer of Crédit Agricole Leasing & Factoring
Jean-Paul Mazoyer
Head of Group IT and Industrial Projects
—
—
Christophe Gancel
Head of Private Banking
Marc Oppenheim
Head of International Retail Banking
—
—
Isabelle Job-Bazille
Head of Economic Research
59
09
REGISTRATION
DOCUMENT
ANNUAL REPORT 2014
B U S I N E S S R E V I E W 2 0 14 -2 0 15
R EG I S T R AT I ON DO C U M EN T
A N D A N N U A L R E P O R T 2 0 14
CRÉDIT AGRICOLE S.A. – BUSINESS REVIEW 2014-2015
FIND OUT MORE ABOUT OUR ACTIVIT Y
IN 2014
@Credit_Agricole
@Credit_Agricole
#USEFUL
TODAY AND
TOMORROW
THE UNIVERSAL
CUSTOMER-FOCUSED
BANK
BUSINESS REVIEW
KEY FIGURES
2014 KEY FIGURES
BUSINESS REVIEW 2014-2015
TO FIND OUT MORE:
www.credit-agricole.com/en/Investor-and-shareholder
ACKNOWLEDGEMENTS
Farid Adou, Elise Akopcan, Olivier Allou, Corinne Amedeo, Xavier Amouroux, Valérie d’Arcangues, Marie-Gwendoline Audebert, Joseph d’Auzay, Elsa Arpin, Eugénie Aurange,
Françoise Badal, Patricia Baradeau, Wilfrid Bardin, Jean-Yves Barnavon, Angela Bartoli, Thomas Benaïm, Perrine Bénichou, Alain Benoiston, Francesca Benucci, Matthieu Berrivin,
Alain Berry, Alicia Blacquière, Joëlle Bonalumi, Stéphanie Bonnet, Bernard Bordas, Clare Brennen, Valérie Broustail, Vincent Buchart, Claire Bussac, Julie Bureth, Brigitte Cachon,
Eric Campos, Oriane Cante, Valérie Carlet, Massimo Censi, Marie-Charlotte Chapalain, Catherine Chaumont, Sandra Chuchu, Isabelle Collignon, Sophie Collot, Emanuela Contini,
Emilie Couderc, Pascale Crab, Sophie Dano, Noëlle Dautzenberg, Annie Debourgogne, Pierre Deheunynck, Bernard Delpit, Sabine Depreux, Eric Dérobert, Olivier Desjardins,
Anne-Sophie Drané, Jean-Christophe Droguet, Franco Duc, Thomas Dutot, Fatima El-Moukhtafi, Pascale Fabris-Suarnet, Laurent Falala, Fabien Fernandez, Fabrice Ferrero,
Rodolphe Fleuriance, Alessio Foletti, Catherine Fournier, Bernard Fraisse, Maria Franco, Sophie François, Pauline Gabory, Hervé Gachen, Jérôme Gaine, Célestine Gene, Christophe Gibaud,
Michel Goutorbe, Philippe Guichandut, Eric Guttierez, Françoise Haegel, Romain Hamard, Raphaële Hamel, Caroline Hang-Deschamps, Anne Herjean, David Hervé, Fanny Hugomard Roche,
Xavier Isaac, Elodie Jacquard, Zélie Jacquemin, Magali Jacquet-Lagreze, Angeline Julien, Frédérique Julien, Sophie Kamech, Denis Kleiber, Michèle Korchia, Frédéric Labordère,
Christian Lacombe, Fanny Lagier, Chloé Lallemand, Myriam de Lamarlière, Benoît Lambaré, Benjamin Lamberg, Tristan Lamy, Anne Lauthe, Rachel Lavabre, Alexandra Lebourg,
Guillaume Lefebvre, Mélanie Lehalle, Joseph Lesne, Anne Le Stum, Martine Lévêque, Valérie Locher, Cécile Marcorelles, Marie-Laure Madelin, Aude Margoil-Voisin, Alessandra Mariotti,
Denis Marquet, Sandrine Mas, Emmanuelle Marteau Fernandez, Rémi Michel, Arnaud Misset, Guy Modica, Régis Monfront, Aurore Monod-Broca, François Moury, Brigitte Neige,
Marie-Elisabeth Nicoleau, Julien Nique, Bernard Noël, Charles Pacini, Jean-Pierre Paviet, Michele Pedemonte, Marie Pelpel, Marie Petracco, Sylvie Pierret, Laurence Plainfossé,
Laurence Plessis, Muriel Plessis, Christian de Portzamparc, Jean-Luc Pothet, Stanislas Pottier, Catherine Pouliquen, Pascal Preteseille, Stéphane Priami, Sébastien Proust,
Laurence Pugnale, Dolly Ratefinjanahary, Benjamin Reboul, Claudine Revolio, Salvatore Ricco, Jean-Luc Rigaut, Anne Robert, Guillaume Roesch, Pascal Roulleau, Barbara Sbuttoni,
Sabrina Schmalstieg, Jean-Michel Soufflet, Olivier Tassaint, Silvia Tragni, David Valet, Véronique de Villepin, Pascale Voillot, Christine Walczak.
DESIGN AND PRODUCTION:
– P R I N T: ANR Services Épône
P H O T O C R E D I T: ©ACDP, Amundi, Crédit Agricole CIB/ Valérie d’Arcangues, Crédit Agricole S.A./Capa Pictures/Gilles Bassignac, Nora Bojikova, Crédit Agricole S.A./CAPA Pictures/
Rudy Burbant, CIR S.p.A, Crédit Agricole du Languedoc, Crédit Agricole Normandie, Crédit Agricole S.A., Crédit Agricole S.A./CAPA Pictures, Jérémie Croidieu, Arnaud Février,
Jean Chiscano, Alain Goulard, Alexandre Guirkinger, Cédric Helsly, Michel Labelle, Gilles Leimdorfer / Interlinks image, Andrew Mc Leish / Interlinks image, Bérangère Lomont,
Crédit Agricole S.A./Capa Pictures/Julien Lutt, CACEIS/Yves Maisonneuve, ANDRY Malalan’Ny Aina, Cameroun, Concours photo FARM 2014, Patrick Messina, @NQT, Crédit Agricole S.A./
CAPA Pictures/François Moura, Crédit Agricole S.A./Capa Pictures/Pierre Olivier, Crédit Agricole S.A./CAPA pictures/Christel Sasso, Philippe Schlienger, Laury Skander Photographe,
Hervé Thouroude, Edyta Tolwinska, Uni-éditions, Floria-Margaux Vieux, Dave Yoder, x.
I L L U S T R A T I O N S : Created by Simple Icons from the Noun Project, Created by factor(e) design initiative from the Noun Project, Created by Nicolo Bertoncin from the Noun Project,
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This document was printed in a workshop that employs people with disabilities, and has Imprim’Vert accreditation (produced using plant-based inks and 100% recycled paper).
60
Ref. 2.7379.1 - DCF/2015
A French limited company with a share capital of 7,729,097,322 euros
Nanterre Trade and Company Registry No. 784 608 416
12 place des États-Unis
92127 Montrouge cedex – France
Tel.: +33 (0)1 43 23 52 02

@Credit_Agricole BUSINESS REVIEW 2014-2015

Transcription

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