Crédit Agricole CIB has successfully structured the first Green Export Credit Agency (ECA) Loan for the Kingdom of Saudi Arabia, acting through the Ministry of Finance (KSA MOF), in respect of public transport equipment. It is also Crédit Agricole CIB’s first ever Green ECA Loan.
Icade has today announced the signing of a five-year €150 million solidarity-based revolving credit line with Crédit Agricole CIB and Crédit Agricole d’Ile-de-France. It includes a mechanism by which both banks waive part of their remuneration. These funds, combined with those donated by Icade for the same amount from June 2020, will be allocated to research on Covid-19 vaccines carried out by Institut Pasteur.
Of the 1.7 billion adults worldwide who are unbanked, women are overrepresented: about 980 million do not have an account, 56% of the world’s unbanked (World Bank). That is the target population of the microfinance sector, which provides a set of financial products and services to people excluded from the banking system.
Following an evaluation period in 2019, Crédit Agricole CIB has announced that it is entering a pilot phase on the Marco Polo Network, one of the largest and fastest growing trade and working capital finance networks in the world, focusing on bringing significant efficiencies in trade, receivables and supply chain financing.
Crédit Agricole CIB joined the Hydrogen Council, a global initiative on hydrogen energy which brings together more than 80 players in the energy, transport, industrial and financial sectors. This participation allows the Bank to contribute, by supporting its clients, to the development of this transitional source of energy and thereby to reach Crédit Agricole Group’s climate goals, in line with the Paris Agreement.
Today, Crédit Agricole CIB presents the details of its targets for 2022, which form part of the Group project and Crédit Agricole Group Medium Term Plan 2022.
Crédit Agricole CIB is a corporate and investment bank which has chosen to focus more on financing activities and corporate clients, and which is based on a powerful and well-coordinated international network.
Its resilient, profitable and conservative business model is based on:
A client-focused organisation, with an automated and systematic measure of the profitability,
High value-added financing activities generating a strong RONE(1),
Market activities which complement the financing activities for its clients,
A low risk profile, supported by an expert and conservative approach on its exposures.
Within the framework of the MTP 2022, the targets for 2022 combine:
A RONE remaining above 10%;
Contained RWA(2) , with an RWA target of €123bn in 2022;
A revenue growth of +3% on average per year by 2022, driven by all business lines:
Development of the transactional commercial bank (accounting for ~25% of the revenue growth between 2018 and 2022)
Priority given to eight key sectors (revenue growth of +5% on average per year),
Revenue growth of +€300m for FICC,
Doubling the size of the green loan portfolio.
A low cost/income ratio (less than 55%), with a cost reduction of €190m enabling to keep investing,
The above being based on the assumption of a normalisation of the cost of risk: 20 to 25 bp.
Crédit Agricole CIB is also going to roll out several cross-functional projects, including:
A human-centric project aiming at building the future by onboarding the new generation of experts, at empowering the employees and at significantly communicating the values of the Group,
Continuously strengthening the expertise of the business lines - the core of the resilience of the model,
Implementing a three-year data project, which forms the foundation of the digital strategy,
Consolidating its role as a leader in green and sustainable finance, extending its offering of sustainable solutions to all business lines.
corresponding to an RWA allocation of 9.5%
stable RWA excluding regulatory, BSF and FX impacts
In the context of the AXA “Climate Impact Day” taking place today in Paris, Crédit Agricole CIB is pleased to announce the issuance of a EUR 100 million Transition Bond, as a Private Placement subscribed by AXA IM, on behalf of AXA Group. Listed on the Luxembourg Stock Exchange, the bond has a 10 year maturity and will pay a coupon of 0.55%.
Following the disclosures made on 15th March 2019 and 29th April 2019, Crédit Agricole Corporate & Investment Bank announces today that, following the exercise by RAM Holdings I Ltd, an investment vehicle controlled by Ripplewood Advisors LLC (“Ripplewood”) of its right to purchase a 6.0% equity stake in Banque Saudi Fransi (BSF) at a price of 30.00 Saudi Riyals per share, it has completed the disposal of this 6.0% stake in BSF in respect of which all regulatory approvals have been obtained.
The Crédit Agricole Grameen Foundation and Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB) are teaming up to aid and fund Indian microfinance institutions supporting the business plans of populations excluded from the traditional banking system. Through this partnership, Crédit Agricole Group is putting its expertise to work for inclusive finance in India, and has earmarked funding of €12 million to that end.
Crédit Agricole group steps up its support for small, medium and intermediate-sized companies expanding abroad becoming the only French partner of the Trade Club Alliance.
The Trade Cl [...]
Following the disclosure made on 15 March 2019, Crédit Agricole Corporate & Investment Bank announces today the completion of the disposal of a 4.9% stake in Banque Saudi Fransi (BSF) in respect of which all regulatory approvals were obtained.
Today, Crédit Agricole Corporate & Investment Bank S.A. (Crédit Agricole CIB) announces the sale of a 4.9% equity stake in Banque Saudi Fransi (BSF) at a price of 31.50 Saudi Riyals per share, for a total consideration of approximately 1.86 billion Saudi Riyals, equivalent to approximately 440 million euros.
This award strengthens Crédit Agricole CIB’s global leading position as an arranger in the green and social bond market
Crédit Agricole Corporate and Investment Bank (CACIB) announces that the Deferred Prosecution Agreements (Agreements) CACIB entered into with the United States Attorney’s Office for the District of Columbia (USAO) and the District Attorney of the County of New York (DANY) in relation to U.S. economic sanctions compliance have come to an end.
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