2020 was another strong year for sustainable finance, mostly supported by the issuance of social bonds and the rise of Sustainability-linked bonds. It was driven by 2 main factors: the Covid-19 crisis, which has highlighted the need to develop resilience to risks and shocks, including those related to climate and the environment, and the climate neutrality commitments, which are spreading in several countries, with some already backed by investment plans.
Crédit Agricole CIB has successfully coordinated and structured a USD 3,000m untied financing facility for the Kingdom of Saudi Arabia (KSA) acting through the Ministry of Finance (KSA MOF). The facility is supported by the Korea Trade Insurance Corporation (K-SURE), the Korean Export Credit Agency (ECA), under its Strategic Partnership Programme to promote Korean exports to KSA and strengthen economic cooperation between the Republic of Korea and KSA.
BNY Mellon and Amundi today announced a transatlantic collaboration to further power growth of both companies by integrating world-class complementary capabilities and establishing new integration points between the firms. This alliance immediately translates in the technological integration of BNY Mellon OMNISM, a client- and data-centric securities services platform, and Amundi’s ALTO* (Amundi Leading Technology and Operations), its portfolio management system, across multiple areas that aim to deliver significant benefits, including integrated portfolio management and risk management tools, and operational efficiencies for common clients.
In an unprecedented context of crisis, Crédit Agricole, the No. 1 bank in France for young people and one of France’s biggest private sector employers, makes a commitment to their future careers by announcing the launch of Youzful, a fully digital platform dedicated to employment and orientation.
Crédit Agricole Assurances, the leading French institutional investor in renewable energy, together with CA Vita, its Italian life insurance subsidiary, announces the acquisition of a 30% stake in the capital of EF Solare from F2i Sgr, Italy’s main infrastructure fund, which will retain ownership of the remaining 70% of the capital through its Third Fund.
The board of directors of Crédit Agricole CIB, the corporate and investment bank of the Crédit Agricole Group, took note of François Marion’s decision to resign from his position of Deputy Chief Executive Officer effective January 1st 2021, as he has decided to retire on June 30th 2021.
Crédit Agricole Group is providing significant support to the aeronautical investment fund created to bolster the capital of strategic French companies in this sector weakened by the current health and economic crisis, prepare for the post-crisis environment, assist them in their development, and contribute to the reinforcement of the sector.
In line with its strategy, Crédit Agricole S.A. announces today the signature of an agreement to sell Crédit Agricole Bank Romania S.A. to the Romanian bank Vista Bank Romania S.A. Completion of the transaction, which is subject to clearance from the relevant Romanian authorities (the National Bank of Romania and the Romanian Competition Council), is expected to occur in the first half of 2021.
This transaction has no significant impact on Crédit Agricole S.A.’s solvency ratios.
UniCredit S.p.A. and Clifford Chance Romania Law firm are CASA’s advisors in this transaction.
The capital increase of Crédit Agricole S.A. reserved for Crédit Agricole Group employees, with the subscription period running from 12 to 25 November 2020, was definitively completed on 22 December 2020.
Crédit Agricole Consumer Finance and Banco BPM announce that on 18 December 2020, they signed an Amendment Agreement, in order to further strengthen their global partnership in consumer finance in Italy of Agos Ducato (in which Crédit Agricole Consumer Finance holds 61% - Banco BPM 39%), introducing some changes to the agreements signed at the end of 2018 between Banco BPM, Crédit Agricole S.A. and Crédit Agricole Consumer Finance.
Luxembourg-based management company Axxion S.A. recently decided to extend its existing partnership with CACEIS by transferring nine of its funds to CACEIS in Germany. These funds are open-end special AIFs, regulated under German law, including assets such as equity, bonds, derivatives and target funds. CACEIS will provide depository & custody services as well as FX trading, fund execution, and execution & clearing for exchange traded derivatives; the total volume equates to some €1 billion in assets. Starting in August 2020, the migration was executed in three waves to ensure a smooth and controlled onboarding of the funds.
Taking into consideration the ever prolonged period of very low interest rates, which will weigh on Crédit Agricole Italia's interest margins and therefore on its value in use for Crédit Agricole S.A. and Crédit Agricole Group, Crédit Agricole S.A.'s Board of Directors decided today to recognise an impairment charge against the goodwill carried on Crédit Agricole Italia.
©2016 Crédit Agricole