Untitled - Groupe Crédit du Nord

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Untitled - Groupe Crédit du Nord
Contents
2 Chairman’s message
3 Management Board
4 History
5 ENTITIES OF THE GROUP
11 STRATEGY
12 Strategy and Positioning
15 Human Resources Strategy
17 MARKETS
18 Individual customers
20 Professional customers and Associations
22 Business and Institutional customers
24 Addresses
Key figures
CONSOLIDATED (in millions of euros)
2007
2006
2005
Customer deposits
18,268.3
15,863.0
16,277.7
Customer loans
24,060.1
21,629.7
20,132.9
Assets under management
34,824.4
35,517.5
32,067.6
1,597.5
1,516.0
1,381.2
Gross operating income
585.6
540.1
455.5
Earnings before exceptional items and tax
515.2
474.5
395.4
Net income
340.2
304.6
250.1
Net banking income
Photograph on cover: Marie Pecqueur, Customer Adviser - Direct Banking.
Crédit du Nord
Group
Today, the Crédit du Nord Group comprises seven banks
– Courtois, Kolb, Laydernier, Nuger, Rhône-Alpes, Tarneaud
and Crédit du Nord –, one asset management company,
Étoile Gestion, and one brokerage firm, Gilbert Dupont.
The Group’s 8,600 employees and network
of 760 branches serve almost 1.36 million individual
customers, 181,000 professional customers and associations
and 32,000 business and institutional clients.
1.57
8,600
760
AA –
million customers
branches
19 of which were opened in 2007
employees
Standard & Poor’s long-term credit rating
Crédit du Nord Group I 1
2007 proved no exception on previous years, with Crédit du Nord Group
once again delivering a sound commercial and financial performance
despite the faltering market and economic climate that dominated the
second half of the year.
We continued to develop our customer base across each of our three
markets and to retain the trust and loyalty of our existing clients, who once
again ranked us first in terms of overall satisfaction in the market surveys*
of the major French banks carried out by the consulting firm, CSA in 2007.
Backed by this loyalty and by the professionalism of its staff, our Group has
focused on stepping up its organic growth since 2002. Today, our network
has grown by close to 150 new points-of-sale in just 5 years, with 760 bank
branches nationwide now at the disposal of our customers.
To cement this growth and enhance our teams, Crédit du Nord recruited some
1,000 new employees in 2007, all of whom share our core values of listening to
the customer, providing the highest quality of service and forming close working
relationships.
Our objective for 2008 is to pursue our development with the same dynamism
and the same commitment to our customers.
Alain PY
Chairman and Chief Executive Officer
* Survey carried out by CSA between April 5 and 28, 2007 of approximately 5,000 customers of the 11 leading banks in the market; between
March 6 and 30, 2007 of approximately 3,400 customers of 10 French banks; between March 19 and April 07, 2007 of approximately
2,700 customers of the leading 10 banks in the market.
2 I Crédit du Nord Group
Management Board
Crédit du Nord Group (at March 01, 2008)
Crédit du Nord Group
Crédit du Nord Regions
Subsidiaries
1 | ALAIN PY(1)
Chairman and Chief Executive Officer
9 | BRUNO DESCHAMP
Director, Provinces du Nord Region
16 | DOMINIQUE CHASTEL
Chairman of Banque Courtois
Management Board
2 | MARC BATAVE(1)
Deputy Chief Executive Officer
and Group Chief Client Officer
10 | JOEL GIRRE
Director, Nord Métropole Region
3 | JEAN-PIERRE BON(1)
Deputy Chief Executive Officer
and Group Chief Financial Officer
4 | PATRICK RENOUVIN(1)
Deputy Chief Executive Officer
and Group Chief Information
Systems Officer
17 | JEAN DUMONT
Chairman of Banque Kolb
Management Board
11 | JEAN-LOUIS KLEIN
Director Île-de-France Region,
Business Client
18 | ARNAUD GUILLEMAIN d’ECHON
Chairman of Banque Nuger
Management Board
12 | JEAN-PASCAL LE CHARPENTIER
Director, Île-de-France Region
19 | PHILIPPE LE BOURDONNEC
Chairman and Chief Executive
Officer of Banque Laydernier
13 | FRANCIS MOLINO
Director, Provence-Alpes-Côte
d’Azur Region
5 | PIERRE BONCOURT(1)
Group Chief Human
Resources Officer
14 | HERVÉ ROGEAU
Director, Picardie Region
6 | THIERRY LUCAS(1)
Head of Risk Management
15 | GÉRARD TRECA
Director, Normandie – Haute Bretagne
20 | FRANÇOIS MULLER
Chairman and Chief Executive
Officer of Banque Rhône-Alpes
21 | JEAN LOUP TARNEAUD
Chairman and Chief Executive Officer
of Banque Taneaud
7 | GILLES RENAUDIN(1)
Head of the Legal Affairs
and Internal Control
8 | XAVIER DE BENOIST
Deputy Group Chief Client Officer
10 14
18
3
8
7
21
12
17
1
4
15 13 19
16
20
9
6
2
5
11
(1) Member of the Executive Board at 03/01/2008
Crédit du Nord Group I 3
History
The Crédit du Nord Group has its origins in the grouping
of some 80 regional banks that have been pooling
their strengths and talents for over a century.
1760
Banque Courtois, France’s oldest surviving bank,
is established in Toulouse.
1991
Banque Kolb joins the Crédit du Nord Group.
1992
Banque Courtois joins the Crédit du Nord Group.
1996
Banque Laydernier joins the Crédit du Nord Group.
1997
Crédit du Nord Group joins
the Société Générale Group.
1809
Banque Tarneaud is established in Limoges.
1848
Discounting house is set up in the Lille district.
1871
Discounting house is named Crédit du Nord.
1889
Crédit du Nord opens in Paris to coincide
with the World Exposition held in the capital.
2000 Dexia Group takes a 20% stake in the Crédit du Nord
Group alongside with Société Générale (80%).
1890
Banque Kolb is established in Mirecourt,
in the Vosges.
2002 Banque Lenoir et Bernard (Amiens) is absorbed
by Crédit du Nord.
1891
Banque Laydernier is established in Annecy.
1924
Banque Nuger is established in Clermont-Ferrand.
2004 The Group opens a new chapter in its network
development with the plan to open a hundred
new branches over 3 years.
1927
Crédit du Nord moves its head office
to 59 boulevard Haussmann in Paris.
1951
Banque Tarneaud opens its capital to former
investment bank, Banque de l’Union Parisienne,
which becomes the majority shareholder in 1966.
1974
Merger of Crédit du Nord and Banque de l’Union
Parisienne.
1977
Crédit du Nord takes a stake in Banque Nuger.
1988
Paribas becomes the sole shareholder
in Crédit du Nord.
Creation of Banque Rhône-Alpes following
the merger of Banque Nicolet Lafanechère
et de l’Isère (BNLI) with local branches of Crédit
du Nord in the Rhône-Alpes and Burgundy regions.
4 I Crédit du Nord Group
2005 Banque Kolb extends its network in the East of France
following the integration of the 11 Crédit du Nord
branches in the Champagne-Ardenne region.
2006 With 54 branch openings in 2006, the Group
strenghtens its position in high-potential regions,
in particular Île-de-France.
2007 The Group continues to expand its network
and strengthen its team, opening
new branches and recruiting close
to 1,000 new members of staff.
Xavier Delforge
E NTITIES
OF THE
G ROUP
Branch Manager - Individual
and Professional Customers
Entities of the Group
Clients of the Crédit du Nord Group benefit fromall the advantages of a human-scale
regional bank, backed by the expertise of a nationwide Group.
Every client is first and foremost a customer of one of our regional banks, which are structured
as genuine SMEs.
The various Crédit du Nord Group entities enjoy a very large measure of autonomy
in their business management which makes for quick decision-making and the capacity
to respond rapidly to client needs.
CRÉDIT DU NORD GROUP I 5
Our six Crédit du Nord regions
Crédit du Nord
Crédit du Nord
Crédit du Nord
Île-de-France
Nord Métropole
Normandie Haute Bretagne
110 branches
1,300 employees
221,260 clients
66 branches
621 employees
184,500 clients
47 branches
400 employees
92,970 clients
The Île-de-France region includes
the Ile-de-France, and the south
of Oise and Loiret departments.
There are 110 branches, 11 business
centres, 1 branch for large
institutional customers and
1 private banking centre.
The Nord Métropole region,
the historical birthplace of Crédit
du Nord, has 621 employees
and breaks down as follows:
57 branches dedicated to individual
and professional customers;
5 corporate business centres;
1 branch devoted to institutional
clients; 1 private banking centre;
1 Benelux Desk for business
customers, 1 regional real estate
financing centre.
Crédit du Nord has been present
in Normandie since 1905.
With a customer base of 167,300
individuals, 12,200 professionals,
2,114 businesses, 310 institutions,
and 2,620 associations, Crédit du
Nord is a major force in the Lille area.
Its 400 employees are responsible
for 80,240 individual customers,
10,410 professional customers
and 2,320 business customers.
In total, more than 1,300 employees
serve 190,000 individual customers,
25,000 professional customers,
5,450 business customers and
810 institutional customers.
The region continued the ambitious
network expansion project launched
in 2005.
Some thirty new branches are
to be opened by the end of 2007,
primarily in the inner and outer
suburbs of Paris.
6 I Crédit du Nord Group
The region currently boasts
43 individual and professional
customer branches and 4 business
centres dedicated to business
and institutional customers.
The network spans the 5 departments
in the Normandie region, the Sarthe,
the Mayenne and the Ille et Vilaine.
In 2007, the region continued its
development policy and opened
a second branch in Rennes (Ille et
Vilaine) and in Le Mans (Sarthe).
Crédit du Nord
Crédit du Nord
Crédit du Nord
Picardie
Provence-Alpes
Côte d’Azur
Les Provinces
du Nord
49 branches
444 employees
132,100 clients
54 branches
546 employees
125,600 clients
76 branches
773 employees
262,740 clients
Crédit du Nord’s presence in Picardie
dates back more than 100 years
and extends from the Baie de
Somme to Thiérache and, through
its branch in Château-Thierry,
expands for the first time in its
existence into the Aisne
wine-growing region.
Crédit du Nord’s presence
in Provence-Alpes-Côte d’Azur
is rooted in a 140-year history
of mergers and takeovers among
the region’s banking institutions:
the Compagnie Algérienne de Crédit
et de Banque, Crédit Marseillais,
Banque de l’Union Parisienne,
brokerage firm Édouard Delanglade
and Banque Arnaud Gaidan
The Provinces du Nord region began
life in the Nord-Pas-de-Calais area,
the bank’s historical birthplace.
Within its network of 42 branches,
5 business centres, 1 regional real
estate financing centre and 1 regional
wealth management centre,
the employees of the Picardie
region serve 121,000 individual
customers, 9,400 professionals
and 1,700 business and institutional
clients.
Thanks to its long-established roots,
Crédit du Nord Provence-Alpes-Côte
d’Azur has won over a franchise
of almost 125,600 clients, including
17,000 professionals and 2,100
business and institutional customers.
The region’s 546 employees
in 54 branches, 3 business centres,
2 wealth management units
and 1 private banking centre
contribute to the bank’s dynamism
and development.
Stretching from Dunkerque through
Arras to Maubeuge, the network
currently employs 773 people in
76 branches, serving more than
238,700 individual and 19,300
professional clients, 11 business
centres catering to 1,922 companies
and 336 institutional clients;
and 1 private banking centre.
Following the opening of a second
branch in Boulogne-sur-Mer in 2006,
another new branch was opened
in 2007, Boulevard Robert Schumman
in Arras.
Crédit du Nord Group I 7
Our six banking subsidiaries
Banque
Banque
Banque
Courtois
Kolb
Laydernier
83 branches
665 employees
140,600 clients
41 branches
285 employees
53,000 clients
40 branches
350 employees
72,970 clients
Banque Courtois, France’s oldest
bank, was set up in Toulouse in
1760. Today, it boasts a network
of 83 branches stretching
from Bordeaux to Montpellier
and from Biarritz to Perpignan.
Banque Kolb was established
in 1890 in Mirecourt (Vosges) by
a family who came from Colmar.
With a track record of 118 years
of service to its customers,
it is the Crédit du Nord Group’s
subsidiary in eastern France.
On March 16, 1891, Léon Laydernier,
an employee of the Banque
de France d’Annecy, set up
the Banque Commerciale d’Annecy
which, five years later, became
the Banque Commerciale d’Annecy,
Laydernier et Cie. In 1996, Banque
Laydernier joined the Crédit du Nord
Group following its privatisation.
The bank’s 665 employees take part
of the region’s life. Accordingly, they
are able to respond quickly and
appropriately to the needs of more
than 123,000 individual customers.
In addition, some 15,000 professionals
entrust their business development to
Banque Courtois and, with more than
2,600 business customers, the bank
also ranks as a benchmark partner
for SMEs and local authorities across
the south of France.
Moreover, regional associations
and institutions, particularly those
within the legal profession, value
the specialist expertise of Banque
Courtois which manages their assets
and structures financial packages
on their behalf.
8 I Crédit du Nord Group
The bank’s customers appreciate
its local presence and awareness
of local issues as well as its strong
interpersonal skills, human scale,
reactivity and professionalism.
Banque Kolb, with 285 employees
in forty or so units, has more
than 44,000 individual customers
and serves some 9,000 professional,
business and institutional clients.
Today, Banque Laydernier’s network
of 40 branches and 4 business
centres in the departments
of Haute-Savoie, Savoie, Ain
and Isère serves 64,500 Individual,
7,400 Professional and
1,070 Business customers.
Thanks to its proximity to its
customers, its in-depth
understanding of the regional
economic fabric and, above all,
the tireless efforts of its 350
employees, Banque Laydernier
continued to expand in 2007,
opening a new branch in Belley
in the Ain department and recruiting
29 new members of staff.
Banque
Banque
Banque
Nuger
Rhône-Alpes
Tarneaud
21 branches
165 employees
28,760 clients
78 branches
626 employees
120,000 clients
62 branches
600 employees
114,300 clients
Established more than 80 years ago
now, Banque Nuger has constantly
sought to develop its ties with the
region and to build close working
relationships with its customers
by providing the highest quality
of service.
Banque Rhône-Alpes was
established in 1988 following
the merger of Crédit du Nord and
Banque Nicolet Lafanechère
et de l’Isère (BNLI).
Jean-Baptiste Tarneaud set up
the Banque Tarneaud in Limoges
in 1809. Since then, it has developed
by gradually extending its scope
of business to cover 14 departments
in France’s Central, Western
and Atlantic Coast regions whilst
maintaining its regional stronghold.
It became a subsidiary of Crédit
du Nord Group in 1996.
Banque Nuger now has a network
of 21 branches spread over
5 departments in Central France:
Puy-de-Dôme, Allier, Haute-Loire,
Cher and Nievre. In 2009, the bank
will continue its network expansion
in Cantal’s area.
Banque Nuger’s 165 employees
serve more than 23,300 individual,
4,700 professional and 760 business
clients.
Banque Rhône-Alpes had
626 employees and was present
in 9 departments through its
78 branches network, including
5 business centres.
At the end of 2007, 99,500 individual,
17,200 professional and 3,300
business customers called upon
the services of Banque Rhône-Alpes.
Banque Rhône-Alpes continued
to expand with the creation of
3 new branches and the recruitment
of 45 people, while maintaining
its strategy of a regional bank with
a close relationship with its customers.
Currently headed up by Jean-Loup
Tarneaud, the bank is continuing
to expand by opening new branches
every year (3 in 2008) and establishing
a network that will soon include
65 branches, with 600 employees
in the service of more than 95,000
individual, 14,000 professional,
2,800 business clients and
2,500 institutional customers.
Crédit du Nord Group I 9
Our asset management
company
Our brokerage
firm
Etoile Gestion, Crédit du Nord Group’s asset
management company, manages funds in
excess of 19 billion euros, and ranks among
France’s top ten asset managers.
Brokerage firm Gilbert Dupont
specialises in the French mid-cap market.
Étoile Gestion manages assets on behalf of an extensive
customer base comprised of institutional investors,
companies, management professionals and individuals
who subscribe to its funds through the Group’s banks.
Étoile Gestion offers a comprehensive, varied range
of more than 170 UCITS, providing clients with access
to all asset classes (including equities, bonds and money
market instruments).The range is designed to address
investors’ differing needs in terms of security, investment
horizon and sums invested.
With just over 50 employees, Etoile Gestion is a
human-scale business, which makes for reactive
and flexible asset management which is fully
adapted to meet clients’ expectations. Étoile Gestion’s
products and performance are often rated among
the best in their class by international ratings
agencies such as Morningstar, Lipper Leader
by Reuters and Europerformance.
Brokerage firm Gilbert Dupont offers three main
types of service:
• financial analysis and consultancy and processing
of stock exchange orders on behalf of an extensive
clientele of French and foreign institutional investors,
• a full range of issuer services from floatations to capital
increases and market maker contracts,
• the receipt and transmission of stock exchange orders
for the banks in the Crédit du Nord Group and other
financial institutions (more than 3 million orders
processed in 2007).
The firm’s human scale allows it to focus on serving its
local customer base quickly and efficiently whatever
the type of service required.
Crédit du Nord
Picardie
Crédit du Nord
Les Provinces du Nord
Crédit du Nord
Île-de-France
Crédit du Nord
Nord Métropole
Crédit du Nord
Normandie-Haute
Bretagne
Banque Kolb
Banque Rhône-Alpes
Banque Tarneaud
Banque Courtois
Banque Laydernier
Banque Nuger
Crédit du Nord
Provences-Alpes-Côte d’Azur
10 I Crédit du Nord Group
STRATEGY
Charles de Reboul
Head of Credit Risk
Strategy
Crédit
CRÉDITduDUNord
NORD Group
GROUP I 11
Strategy and positioning
Laurent Billard
Branch Manager - Individual
and Professional Customers
The expertise of a customer-driven bank focused on close
relations with its client base, on professionalism and on innovation.
The strategy of the Group’s banks
centres on three core aims:
• to continue to rank as a benchmark
bank in terms of customer relations;
• to develop a high level of individual
and collective professionalism;
• to offer our customers the most
sophisticated services and technologies.
In 2007, independent market research
companies conducted a further 10 surveys,
including customer satisfaction surveys,
market surveys, new customer surveys,…
The results of these surveys give to the
Group a broad picture of what its customers
like about the bank, but also of points to
watch and areas to improve.
A strategy centered
on customer satisfaction
Increasing our customer satisfaction
ratings is branches’ main annual
performance target.
For more than 160 years now,
Crédit du Nord Group banks have built
up their expertise as customer-driven
banks focused on close relations
with their client base, on professionalism
and on innovation.
In addition, market surveys1 carried out by
CSA among customers of the main French
banking groups rank Crédit du Nord Group
as the number one bank for individual,
professional and business customer
satisfaction.
For over ten years now, the Group
has carried out exhaustive annual
satisfaction surveys among its individual,
professional and business customers.
An original model that sets
us apart from the rest
The Group’s banks are all structured
as genuine SMEs.They all benefit from
a considerable degree of autonomy
in terms of their decision making and
are all managed by staff that have
an intimate knowledge of the local
economic fabric.
For many years now, each bank has been
committed to building strong, individual
links with its customers, so that each
becomes a partner in a trusting,
long-term relationship.
Market surveys:
Crédit du Nord Group maintains its winning streak
The market surveys carried out by consulting firm, CSA, enable us to see how we rate
in relation to our competitors when it comes to customer satisfaction.
1 - Survey carried out by CSA between April 5 and 28, 2007
of approximately 5,000 customers of the 11 leading banks in
the market; between March 6 and 30, 2007 of approximately
3,400 customers of 10 French banks; between March 19
and April 07, 2007 of approximately 2,700 customers
of the leading 10 banks in the market.
12 I Crédit du Nord Group
2007 once again saw our customers confirm their satisfaction1, with Crédit du Nord Group
rated first amongst France’s leading banks on each of its three markets–individual, professional
and business customers–not only in terms of overall satisfaction but also within a number
of specific categories (advisers, branches, image, etc.). The results of these surveys reflect
the quality of the relations we strive to build with our customers every day.
100%
of our customers have a dedicated
account manager who can be contacted
directly by telephone or e-mail.
Adeline Varoqui
Customer Adviser - Wealth
Management
This customer-driven vision of the bank
implies a number of concrete commitments.
This is why:
• 100% of individual and professional
customers have a dedicated customer
adviser;
• 100% of high net worth customers
benefit from a two-man team comprising
a wealth management adviser
and customer adviser;
• 100% of business customers are
followed up by a two-man team
including a business customer adviser
and a sales assistant;
• 100% of the banks advisers can be
contacted directly by telephone or e-mail.
What is more, Crédit du Nord banks have
opted not to route customer calls through
centralised call centres, and to propose rather
than impose that customers use the Group’s
Internet and telephone banking services.
Finally, all Group banks have a cashier service
in their branches whose opening hours are
tailored to matchcustomer visiting times.
Cutting-edge products
and technologies
A powerful, up-to-the-minute IT system
shared by all Group banks means customers
can carry out all transactions from any branch.
Crédit du Nord Group also boasts
a multi-market, multi-banking and
multi-channel IT system and has equipped
its employees with workstations that are
consistent with its customer-driven strategy.
Accordingly, advisers can open an account,
purchase products and services, or take out
a personal loan or mortgage on behalf
of their customer in real time, with the latter
able to simultaneously follow each stage of the
transaction. At the end of the meeting, contracts
are drawn up and given to the customer and
accounts become operational immediately.
Priority access to high-quality
partners
As part of its commitment to providing its
clients with the best products and services,
Crédit du Nord Group has developed a
policy of partnerships, linking up with
companies who are leaders in their field.
Accordingly, over the past few years, the
Group has established partnerships with:
• American Express (leading global provider
of credit cards for a discerning clientele).
Group customers can now subscribe
for the American Express Personal,
Gold, and, since November 2007,
Platinum cards, giving them access
to American Express’ range of services
and offers wherever they are in the world.
• Aviva (one of Europe’s leading life
insurance and pensions specialists) offers
its expertise to Group customers through
its life insurance subsidiary, Antarius, which
is half-owned by Aviva and half-owned
by Crédit du Nord Group. Antarius offers
life insurance and savings policies, mutual
funds, provident plans and tax-efficient
private pension schemes (PERP).Group
customers are thus able to choose from
an exhaustive range those investments
that are best suited to their needs
and budgets. Since 2002, Crédit du Nord
Group has also offered car and multi-risk
home insurance through its partnership
with Eurofil, as well as legal protection via
its partnership with La Paix, both of which
are Aviva subsidiaries.
• Boursorama (France’s leading online
provider of stock market information).
Crédit du Nord Group’s partnership
with Boursorama provides those
customers that use the Group’s web
services with access to comprehensive
economic and financial information
on a website which allows them
to switch from content to dealing
page at the click of a button.
Crédit du Nord Group I 13
Strategy and positioning
Sylvie Amézieux-Mounes
Private Banker
A new market
in Private Banking
Crédit du Nord Group now offers private
banking services to its very high net worth
customers. Present in the Group’s regional
branches, our private bankers are on hand
to advise their clients and to define bespoke
wealth management solutions and oversee
their implementation.
Our private banking specialists offer expert
advice in a number of areas:
• asset allocation and portfolio management;
• property investments and their individual tax
implications;
• standard and complex financial packages;
• family law;
• preparing for retirement and the organisation
and handing down of private or professional
estates;
• management of stock option plans.
In the increasingly sophisticated world of
finance and faced with what is often a complex
array of criteria, our private bankers devote
their time exclusively to the management and
development of their clients’ estates.
Today, Crédit du Nord’s private banking
services are available in four regions (Île-deFrance, Nord Métropole, PACA, Les Provinces
du Nord) and two banking subsidiaries (Banque
Courtois and Banque Rhône-Alpes) and are
soon to be on offer in all Group entities.
14 I Crédit du Nord Group
• Russell (global leader in fund manager
selection). In 2000, Crédit du Nord Group
broke new ground with its Étoile Multi
Gestion offer, a range of 5 funds invested
in international markets. In 2003,
the Group launched Étoile Multi Gestion
Europe, a multi-style, multi-manager
fund eligible for the French PEA tax-relief
wrapper. In 2006, the Group broadened
its range of multi-management funds
with Étoile Multi Gestion Croissance
which invests in the world’s fastest
growing economic regions.
A model with a proven
track record
Sinces 1997:
• the individual, professional and business
customer bases have grown respectively
by an average 2.5%, 3.9% and 2.1%
each year;
• net banking income has increased
by 5.4% on average each year
(excluding PEL/CEL and Euronext
in 2007);
• gross operating income has advanced
by an average 11.2% each year
(excluding PEL/CEL and Euronext
in 2007).
At December 31, 2007 the cost/income
ratio stood at 63.3% and the ROE at 21.4%.
The quality and sustainability of Crédit
du Nord Group’s results afford it a high
degree of recognition as reflected
in the Group’s AA - long-term credit rating
from Standard & Poor’s.
Bolstered by its excellent financial
performance and its very high customer
ratings, it was at the end of 2004 that
the Group set itself the objective of around
100 new branches by 2007. In fact,
at the end of 2007, it had opened close
to 120 new branches in high-potential
areas (three-quarters of which are regional
branches and one quarter of which are
branches in the Île-de-France region) taking
its total network to 756 points-of-sale.
The branch at the heart
of each relationship
Transactions, services, advice: everything
linked to you and your accounts is brought
together in a single location, your branch, close
to your home and managed by the same
long-term contacts.The Crédit du Nord Group’s
emphasis on close relations with its customers
is an everyday reality.
Human Ressources Strategy
1,000
new employees in 2007
250
work experience contracts
each year
Cyril Barreau
Human Resources
Specialist
Over 100 professions to fulfil your full
potential in a human-scale company
To accompany its development
and strengthen its teams in the face
of current demographic trends,
Crédit du Nord Group has established
an active recruitment policy: after
recruiting 757 new employees
on permanent contracts in 2007,
the Group is planning further
recruitment in excess of 700 in 2008.
Our vision
of Human Resources:
• personality counts for more than
qualifications;
• decision-making processes and hierarchical
structures are kept to a bare minimum,
giving free rein to autonomy, responsibility
and responsiveness;
• potential, initiative and creativity are
strongly encouraged;
• professional development is possible
at many different levels and mobility
is encouraged.
This recruitment drive is being
undertaken throughout
all the Group’s banks
Most of the jobs on offer are branch
positions:
• sales advisers;
• individual, professional and business
customer advisers;
• branch managers;
• wealth management advisers.
Many other positions are also available
amongst the100 professions employed
by the Group, notably in marketing, IT,
finance and human resources.
Posts are open to young people who
have completed at least two years’higher
education; to banking professionals as
well as to men and women with experience
in other sectors which they can contribute
to their work in the Group.
Work experience contracts:
a first step in the Group
In 2008, we aim to integrate over 250 young
people on work experience contracts.
The first and foremost aim of the Group’s
banks is to help these young people obtain
their diplomas and to provide them with training
in their future careers.
Whether in a branch or in one of our corporate
departments, young trainees benefit from
high-quality training and close supervision
throughout their placement. A training manager
or supervisor is on hand to oversee their first
steps on the professional ladder, and to ensure
their work experience gives them every
opportunity to assert their talents and develop
their professional skills.
Work experience contracts with Crédit du Nord
Group offer trainees a first and fulfilling
professional experience as well as potential
access to the broad range of careers to be
had within the Group’s different banking sectors
subject to availability.
In 2007, 70% of graduates on work experience
contracts chose to pursue their careers within
the Group’s banks and were recruited
on open-ended contracts.
To consult and apply online for the training
placements on offer with the Group’s banks
around the country, go to:
www.recrut.credit-du-nord.fr/alternance
Crédit du Nord Group I 15
Human Ressources Strategy
Eliane Long
Human Ressources
Specialist
Recruitment:
a special phase
of our relationship
Relationships are a very important part
of our Group’s culture. We place the same
importance on welcoming our new employees
as we do on welcoming our customers:
a personal welcome in a convivial, professional
environment, with rapid decision-making.
Candidates will meet a specialist in human
resources and managers who will give them
practical information on their assignments
and answer any questions.
• a welcome day;
• a training and personalised introduction
programme;
• an induction day for meeting
the management team.
Join us at
www.recrut-credit-du-nord.fr
Right from its home page, our recruitment
site offers precise information for students,
young graduates, banking professionals
as well as applicants with experience
in other sectors.
main banking business lines as well as
its HR processes (recruitment, induction,
training, mobility, etc.).
Job and placement offers can be consulted
by type or geographic location, and a
sophisticated applications management
system enables candidates to apply
for jobs at the click of a button.
In addition, a magazine section is devoted
to Group news, with a diary giving
the dates and locations of the recruitment
forums at which the Group’s banks will
be present.
An original induction programme
Upon joining one of the Group banks, new
employees follow a personalised induction
programme enabling them to acquaint
themselves with their position and working
environment and to acquire the expertise
necessary for their profession.
The website provides a dynamic
and complete overview of the Group’s five
A proper welcome to new employees
is essential
We base successful induction around
a programme which helps new employees
rapidly assimilate the Group’s mind set
and its values, rolled out in several stages:
Customer satisfaction revolves around the expertise of our employees, which is why
we allocate a large budget to training every year.
16 I Crédit du Nord Group
Personalised training
Joining one of our Group banks gives an access to a wide range of specially adapted
and personalised training programmes throughout its professional career.
Whether they choose to undergo the Group’s exhaustive training cycles which review all
of the skills needed to master a given profession or its training to perfect their knowledge,
Crédit du Nord’s programmes enable each individual to acquire the expertise they need
for the job and to develop new skills for new assignments.
MARKETS
Philippe Kowalczuk
Group Director
Markets
Crédit
CRÉDITduDUNord
NORD Group
GROUP I 17
Individual customers
Thomas Granry
Customer Adviser - Individual
and Professional Customers
A relationship based on listening to and advising customers.
A dedicated customer
adviser with a direct telephone
line and e-mail address
Personalised advice
for tailored asset
management solutions
In all Crédit du Nord Group banks,
individual customers have a designated
adviser who is responsible for their
account on a day-to-day basis as
well as any issues linked to it.
Customers of Crédit du Nord Group
banks have access to a wealth
management adviser on hand to help
customers manage their assets and
offer advice, services and expertise
tailored to their individual situation.
Each adviser can be contacted directly.
Customers are given their e-mail address
and direct telephone number and calls
to branches are not rerouted
to call centres.
Moreover, Crédit du Nord Group
stopped paying advisers commissions
on sales some ten years ago now,
allowing them to orient customers towards
those products and services that best
meet their needs with complete objectivity.
Following an assessment of the customer’s
assets, the wealth management adviser
devises – in conjunction with the customer
– a global strategy and determines the
steps that need to be taken to ensure that
the individual targets of the customer are
met.
Help in facing the growing
risk of the need
for long-term care
With Antarius Dépendance, the Crédit du Nord
Group banks are able to offer their customers
a solution that is particularly well-suited
to the financial implications of long-term care.
For Group customers, Antarius Dépendance
is a solution that enables them to avoid going
into care for longer, to avoid having to be
dependent on their loved ones and to avoid
having to break into their estates.
Antarius Dépendance covers partial
and complete dependence or complete
dependence alone. Subscribers benefit
from three complementary services depending
on their degree of dependence, namely:
• a monthly income for life to help with
the recurrent costs of long-term care;
• a lump-sum payment to enable them
to adapt and equip their homes;
• additional forms of assistance.
Antarius Dépendance can be subscribed
to up to the age of 75 on simple presentation
of a clean bill of health.
18 I Crédit du Nord Group
Key figures at 12/31/07
1,355,997
individual customers
544,354
securities account
A quest for constant
innovation
Ever attentive to the needs of their
customers, 2007 saw the Crédit du Nord
Group banks launch new products
and services in the following areas:
+2.8%
increase in the customers base
18.9
million
connections to the individual
customers website
Libertimmo 3 Cap-1: a risk-free variable-rate loan
whose primary rate can only drop
Libertimmo 3 Cap-1 gives Group banking customers all the security that goes
with a fixed-rate loan and all the potential advantages of a variable-rate loan.
Its rate is revised each quarter in line with the 3-month Euribor but cannot exceed
the primary rate. Group banking customers can therefore take advantage of the market’s
downside potential by up to 1 point below the primary rate.
• financial savings, with the launch of two
guaranteed funds: Etoile Top 2007
and Etoile Garantie 2007– 2013.
These funds, which offer a performance
and capital guarantee at maturity,
enable investors to benefit from
the advantageous tax conditions linked
to French PEPs (PEA) and life insurance
vehicles. They can also be subscribed
to via an ordinary securities account;
With Libertimmo 3 Cap-1, Crédit du Nord Group’s banks are able to offer their customers
an innovative form of property loan.
• long-term care insurance, with the launch
of Antarius Dépendance, an insurance
contract designed to avoid subscribers
being dependent on their friends or family
or having to break into their estate should
they require long-term care;
The 21st edition of the “Trophées SICAV et Fonds 2007” from the magazine, Le Revenu,
saw Crédit du Nord Group’s sound equity management strategies win the silver award
in the best range of sectorial equities over 3 years (retail banking category).
AWARDS
“Trophées SICAV et Fonds 2007” (2007 mutual fund
and fund trophies) from the magazine, Le Revenu
• property loans, with Libertimmo 3
Cap-1, a variable-rate loan indexed
to the 3-month Euribor whose primary
rate can only drop.
Crédit du Nord Group I 19
Professional customers
and Associations
Key figures at 12/31/07
159,783
professional customers
47.3%
customers with both private
and professional accounts
Deborah Demousseau
Customer Adviser Professional Customers
Private or professional banking:
a single, dedicated contact.
Whether customers are retailers,
independent professionals, tradesmen,
entrepreneurs or associations,
Crédit du Nord Group is the ideal
partner to assist their development.
Crédit du Nord Group’s new partnerships,
like the one signed with the FNAIM in 2006,
and its tailored offers are what enable it
to meet the very specific needs of certain
professions like those working in realestate, bailiffs, accountants, lawyers, etc.
A single, dedicated
contact person
Professional customers and associations
have access to a dedicated customer
adviser at their branch who takes
the necessary time to grasp the specifics
of their particular business so as to better
assist them building their future.
Financing, transactions, services, saving,
advice: all the requirements of professional
customers and associations – whether
20 I Crédit du Nord Group
of a personal or professional nature –
are dealt with at the same branch
and by the same contact person.
A mark of our commitment is to listen
to our customers and provide high
quality services.
Their intimate knowledge of the local
economic fabric and the specificities
of customer’s business means that
the accounts managers at the Group
banks can provide made-to-measure
solutions to their requirements.
Moreover, all the Group banks have
a cashier service in their branches,
notably to facilitate cash deposits.
TPE ADSL
We have enriched the range of TPEs
(electronic payment terminal) that we lease
with a new ADSL terminal that links up directly
to the Internet Box of our retailer customers
and to their ADSL networks.
As a result, we are able to streamline
our collection processes and thus meet
the needs of our retailer customers
for fixed-rate communication costs
and time savings.
+7.1%
increase in the customers base
7.5
million connections
to the professional customers website
Rino Candusso
Employee Savings and Asset
Management Specialist
Local specialists
The Group’s banks offer professional
customers and associations access
to local specialists able to provide rapid
and effective solutions in specific areas
such as a electronic payment systems
and telephony, business financing
and employee savings schemes, etc.
In addition, all professional customers
of Crédit du Nord Group have access
to a wealth management adviser on hand
to listen and advise them on managing,
optimising and transferring their assets.
A specific offer
for Associations
21,014 associations are now customers
of the Crédit du Nord Group. These
include cultural, sporting and religious
organisations, professional training bodies,
condominium associations and works
councils, etc.
The Group’s banks have developed
a series of customised products such
as the Compte sur livret Associations
(a cash investment with no ceiling,
which is tax-free under certain conditions),
or Sécurité Bleue Associations (a unique
insurance policy covering the loss,
theft or fraudulent use of bank cards,
with the added advantage of legal
and practical advice by telephone).
Closer ties
with the franchise sector
Crédit du Nord Group has added three new names to its network of franchise partners,
taking the total to 45 nationwide brands across a multitude of sectors including optics,
retailing, hairdressing, catering, etc; all of which benefit from privileged relationships
with their respective branches.
A team of experts in your region
To ensure you receive the best possible advice on complex issues, your designated contacts
are able to call on specialist advisers based in your region. This innovative structure guarantees
reactivity and fast decision-making. In addition, a first-rate wealth engineering team is
permanently on hand to assist our wealth management advisers in specialist areas,
such as estate transfer and inheritance issues.
The team is based in Paris and includes tax, life insurance and investment specialists,
wealth engineers, and legal and property experts.
Crédit du Nord Group I 21
Business
and Institutional customers
28,712
business customers
3
million
connections to the business
customers website
Estelle Molin
Branch Manager Business Customers
A dedicated two-man team: customer adviser
and sales assistant serve each client.
Crédit du Nord Group banks are situated
regionally, close to their customers.
Thanks to the advice and expertise of their
specialist business teams, Crédit du Nord
Group banks make for dynamic, effective
partners in the development of their clients’
domestic and international operations.
Sales assistants work alongside
the customer advisers in managing
the accounting and finance services
offer to businesses in order to best meet
their needs and ensure the smooth
administrative management of accounts
and processing of operations.
Personalised, day-to-day
support from a dedicated
two-man team
These two-man teams guarantee
to business customers fast and effective
solutions as well as high quality services
via personalised, lasting relationships.
Each client has a two-man team comprised
of a customer advisor and a sales assistant
at their disposal.
Customer advisers oversee relations
with their clients and ensure their different
needs are taken on board and met.
With a strong background in banking,
the advisers are able to grasp the different
facets of their clients’ activities
and recommend viable, coherent
and effective business solutions.
Specialist support
in the management of flows,
financing and services
Alongside this dedicated two-man team,
business and institutional clients of
the Crédit du Nord Group banks also
benefit from the support of specialists
to guide them through the complexities
of asset management, employee savings,
real estate and equipment lease financing,
foreign trade, equity capital transactions
and electronic payment and telephony
solutions, etc.
An answer to each individual project
Crédit du Nord Group is permanently on hand to help at every stage in your company’s
development.
We can not only assist with your day-to-day needs, but are also here to advise you
on more sophisticated issues such as the securitisation of flows, asset management, foreign
transactions the financing of client receivables or the optimisation of you payroll policy.
Moreover, this range of services is regularly enhanced thanks to new partnerships
that have been carefully chosen in answer to specific needs such as export assistance
or commercial information for example.
22 I Crédit du Nord Group
Key figures at 12/31/07
+ 4.1%
increase in the customers base
3,317
institutional clients
Christophe Penanguer
Assistant Sales
Adviser - Business
Customers
Overseas support
Accompanying our business clients in
their operations overseas is just one
of the Crédit du Nord Group’s recognised
areas of expertise.
This expertise draws upon a highperformance organisation which includes
the presence, within each region,
of “foreign trade” specialists on hand
to advise customers on the optimisation
and security of their commercial
transactions.
Solicited by one in six SMEs involved
in export, the Group operates in over
120 countries, manages accounts in
23 currencies and maintains active
relations with a network of more than
1,500 partner banks.
All of our correspondents are chosen
according to an objective selection process
that takes account of their reliability,
quality of service and competitive rates.
Equity capital
transactions
The Group’s banks provide their business
customers with an exhaustive offering that
is tailored to their needs and advise them
in various areas such as managing
exchange rate risk, client risk and country
risk, optimising supplier payments abroad,
financing export operations or developing
their activities overseas.
Crédit du Nord Group covers the full gamut
of equity capital services to bring you tailored
advice when it comes to:
• M&A operations;
• investment capital;
• structured finance;
• wealth engineering;
• market transactions.
Specialised financing
Whether you need to finance a major investment or a project backed by a long-term contract,
Crédit du Nord Group offers you all the expertise of a team that specialises in the design
and implementation of tailored financing: creation of ad hoc entities, tax or equity optimisation,
financing of complex investments through loans or lease-financing, etc.
Crédit du Nord Group I 23
Addresses
CRÉDIT DU NORD
ILE-DE-FRANCE
CORPORATE CLIENT
DEPARTMENT
55, boulevard Haussmann
75008 Paris
Tel.: +33 (0)1 40 22 47 06
ILE-DE-FRANCE REGIONAL
DEPARTMENT
55, boulevard Haussmann
75008 Paris
Tel.: +33 (0)1 40 22 25 44
CRÉDIT DU NORD
NORD MÉTROPOLE
HEAD OFFICE
28, place Rihour
BP 569
59023 Lille Cedex
Tel.: +33 (0)3 20 40 30 40
CRÉDIT DU NORD
NORMANDIE-HAUTE
BRETAGNE
HEAD OFFICE
9, rue du Donjon
BP 679
76008 Rouen Cedex
Tel.: +33 (0)2 32 76 48 50
CRÉDIT DU NORD
PICARDIE
HEAD OFFICE
29, rue des Trois-Cailloux
80011 Amiens Cedex 1
Tel.: +33 (0)3 22 22 50 00
BANQUE COURTOIS
BANQUE RHÔNE-ALPES
HEAD OFFICE
33, rue de Rémusat
BP 615
31001 Toulouse Cedex 6
Tel.: +33 (0)5 61 10 84 84
www.banque-courtois.fr
REGISTERED OFFICE
20-22, boulevard Édouard-Rey
38000 Grenoble
BANQUE KOLB
REGISTERED OFFICE
1-3, place du Général-de-Gaulle
BP 1
88501 Mirecourt Cedex
HEAD OFFICE
5, rue Saint-Léon
54000 Nancy
Tel.: +33 (0)3 83 98 89 60
www.banque-kolb.fr
BANQUE LAYDERNIER
HEAD OFFICE
10, avenue du Rhône
74997 Annecy Cedex 9
Tel.: +33 (0)4 50 33 42 00
www.banque-laydernier.fr
BANQUE NUGER
HEAD OFFICE
7, place de Michel-de-l’Hospital
63000 Clermont-Ferrand
Tel.: +33 (0)4 73 42 73 42
www.banque-nuger.fr
HEAD OFFICE
235, cours Lafayette
69006 Lyon
Tel.: +33 (0)4 72 75 86 86
www.banque-rhone-alpes.fr
BANQUE TARNEAUD
HEAD OFFICE
2 et 6, rue Turgot
BP 402
87011 Limoges
Tel.: +33 (0)5 55 44 58 58
www.tarneaud.fr
ÉTOILE GESTION
COMMERCIAL HEAD OFFICE
170, place Henri-Régnault
92043 Paris-la-Défense Cedex
Tel.: +33 (0)1 56 37 81 00
www.etoile-gestion.com
GILBERT DUPONT
HEAD OFFICE
50, rue d’Anjou
75008 Paris
Tel.: +33 (0)1 40 22 46 00
www.gilbertdupont.fr
CRÉDIT DU NORD
PROVENCE-ALPESCÔTE D’AZUR
HEAD OFFICE
10, place de la Joliette
BP 97614
13567 Marseille Cedex 02
Tel.: +33 (0)4 96 11 44 00
CRÉDIT DU NORD GROUP
CRÉDIT DU NORD
LES PROVINCES DU NORD
HEAD OFFICE
28, place Rihour
59000 Lille
HEAD OFFICE
58, boulevard Carnot
BP 605
62029 Arras Cedex
Tel.: +33 (0)3 21 21 78 23
GENERAL MANAGEMENT
59, boulevard Haussmann
75008 Paris
Tel.: +33 (0)1 40 22 40 22
www.groupe-credit-du-nord.com
24 I Crédit du Nord Group
Design and realisation:
– Illustrations, Credits: Jean-Marie Cras, Sam Bellet, Pascal Boy, Publishing/DARRY,
Bernard Leroy, Denis Mousty, Denis Pourcher, Patrick Richard, Getty Images.
Crédit du Nord, a French corporation with a share capital of €740 263 248 – RCS Lille Siren 456 504 851 – May 2008.

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