In the first half of 2019, Crédit Agricole Assurances generated premium income of €20.4 billion, up 18.7% compared with the first six months of 2018. The first six months were characterised by strong inflows in Savings & Retirement, and the continuation of sustained momentum in Property & Casualty insurance as well as in Death & Disability / Creditor / Group insurance.
Q2-19: Business lines deliver increased revenues
Accounting net income of €480m (up +5.6% vs. H1 2018)
Growth in-line with targets of 3-year plan
First measurable achievement: 16 weeks’ paid maternity leave.
The Crédit Agricole S.A. Group has signed an international framework agreement with UNI Global Union, the international trade union federation of the private service sector. This global agreement covers human rights, basic labour rights, and fostering of social dialogue. It builds on the Group’s commitments by proposing the same social standards to all its employees, regardless of where they work, and helping to improve working conditions. This agreement offers a frame of reference to Crédit Agricole S.A. Group’s 75,000 employees in all 47 countries where the Group operates.
CACEIS Bank (“CACEIS”) and KAS BANK today published a joint press release on the characteristics of CACEIS’s recommended public offer in cash for all the securities in KAS BANK (the “Offer”).
Emmanuel Sardet has been appointed Chief Executive Officer of Crédit Agricole Group Infrastructure Platform (CA-GIP) as of 1 August 2019. He will be taking over from Pierre Guillemet, who is retiring.
In June 2019, Amundi provided I.M.A.* (Industria Macchine Automatiche SpA) – an Italian processing and packaging machines manufacturer - with a EUR 50M EuroPP, in conjunction with a EUR 180M Syndicated Term Loan underwritten by UniCredit, which acted as sole Bookrunner.
Banco Santander and Credit Agricole today announced that they have signed a memorandum of understanding (MOU) to develop clients (SMEs and Midcaps) mutual referral, thanks to the strong complementarity of their domestic and international networks. The MOU was signed by Fernando Lardies, Global Trade Services Lead on behalf of the Santander Group and Didier Gaffinel, Head of Global Coverage & Investment Banking Crédit Agricole CIB, for Crédit Agricole Group.
In the spirit of its commitments in favour of the climate and energy transition, Crédit Agricole is offering new personal loans to support its clients in environmentally-friendly consumption.
The goal is to ensure better access for European companies and green projects to market financing to speed up their energy transition
This will be achieved by boosting supply and demand of green finance through:
the development of three new segments on the European green bond market, offering attractive yields to institutional investors
the creation of a European Green Transaction Network and a Scientific Committee to set and disseminate green standards
Initial EIB investment up to EUR 60m
ABANCA Corporación Bancaria S.A. (“ABANCA”) announces it has signed an agreement with Crédit Agricole Assurances S.A. (“Crédit Agricole Assurances”) under which Crédit Agricole Assurances will become, subject to certain conditions precedent, the insurance partner of ABANCA in the non-life insurance market in Spain and Portugal.
Mirae Asset Daewoo and Amundi Real Estate, on behalf of its funds, announce their joint acquisition of Majunga tower. This trophy asset is located in the heart of Paris La Défense, Europe's leading business district.
Groupama Group has entered into an agreement with CACEIS for custodian bank services on its dedicated investment funds as well as custody of assets managed by Groupama Asset Management on behalf of Groupama Group.
Crédit Agricole is uniting its employees around the issues of climate protection and the fight against plastic pollution with their first edition of Commitment Days from the 26th of June to the 3rd of July. Several activities will be organised for employees to perform concrete actions for the environment, in France and internationally.
CACEIS’s successful social network-based TEEPI platform, used by over 300 financial firms, is now being enhanced with a ‘Market Place’ feature which will facilitate European fund distribution.
As one of today’s world leaders in green bonds, and as a pioneer for climate finance for nearly 10 years, Credit Agricole believes that it is imperative to decarbonize our economies, while maintaining value creation. In order to strengthen its action and commitments in favor of energy transition, Credit Agricole adopts a Group Climate Strategy fully aligned with the Paris Agreement.
This experiment, tested with customers of the Regional Crédit Agricole Bank of Touraine and Poitou, is a first in France. It will last six months, with a view to marketing in 2020. This is an illustration of Crédit Agricole's resolve to make leading edge payment solutions available to its customers.
The European Investment Bank is pleased to be able to roll-out a new energy transition partnership in France with the Crédit Agricole Group via the announcement of an agreement for a first loan instalment of 250 million euros.
Four Crédit Agricole Regional Banks located in the Occitania region*, the Occitania/Pyrenees-Mediterranean Region and the European Investment Fund (EIF) have signed a partnership under the Foster TPE-PME Agri fund (2). This operating agreement is for a total of €4.2 million (€1.97 million in regional loans and €2.23 million in EAFRD funding), making possible the mobilisation of €21 million in bank loans for agricultural and agro-food companies in Occitania over a period of 3 years.
A new Group Project
Crédit Agricole Group is formally setting out its Raison d’être: “Working every day in the interest of our customers and society”. It confirms its customer-focused universal banking model with three pillars:
Excellence in customer relations: be number one in customer satisfaction by becoming the favourite bank of individuals, entrepreneurs and corporates;
Empowered teams for customers: to accompany digitalisation by offering customers human, responsible and accessible skills;
Commitment to society: amplify our mutualism commitment to reinforce our position as the European leader in responsible investment.
A new Medium-Term Plan (2019-2022)
Raised and secured profitability targets
A strong Group, which allows for agile capital management
Target net income Group share for 2022: > €5bn for Crédit Agricole S.A.;
2022 ROTE: >11% for Crédit Agricole S.A.;
CET1 at year-end 2022 factoring in regulatory changes:
> 16% for Crédit Agricole Group
11% for Crédit Agricole S.A.
Three levers for the new Medium-Term Plan:
Growth on all our markets with the goal of being number one in customer conquest;
Revenue synergies totalling €10bn in 2022;
Technological transformation for greater efficiency with a €15bn allocation over four years.
In line with its commitment to environmental protection and biodiversity, Crédit Agricole has signed on to a 2nd consecutive year of partnership with “Rendezvous in the Gardens”. This aim of this event, organised by the Ministry of Culture, is to raise public awareness of nature conservation. Nearly 2 million visitors are expected for this 17th edition, to be held from 7 to 9 June. 2,400 gardens in France will open their doors to the public for the occasion.
On the occasion of the 8thFIFA Women's World CupTM, of which Crédit Agricole is a national supporter, and as a Major Partner of the French Women's Football Team, the bank celebrates women's sports.
A Crédit Agricole S.A. General Shareholders' Meeting was held on Tuesday, 21 May 2019 at the Centre des congrès Robert Schuman in Metz, in the presence of Chairman Dominique Lefebvre and Chief Executive Officer Philippe Brassac.
Banque des Territoires, Crédit Agricole Assurances, the leading insurance group in France and the Korian group, European leader in care and support services for seniors, announce a partnership to develop Ages&Vie homes, an alternative shared housing solution for the elderly in France.
First Quarter 2019 Results
Good performance in all business divisions
Pierre Masclet has been appointed Deputy Chief Executive Officer of Indosuez Wealth Management with effect from 1 July 2019. He will oversee the business development of the Wealth Management activities and he will join the Management Committee of the Wealth Management business line.
In 2018, the Crédit Agricole Group invested 486 million euros in capital in 239 companies in connection with buy-out, expansion and innovation capital transactions. This marked an increase of over 72% in comparison to the previous year, driven mainly by buyout transactions and investments in intermediate-sized firms (60% of amounts).
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.
Crédit Agricole S.A. and Santander enter into a Memorandum of Understanding with a view to combining their custody and asset servicing operations
Crédit Agricole S.A. and Santander would hold 69.5% and 30.5% respectively of the combined entity that will keep the name CACEIS
Combination of Santander Securities Services (“S3”) in Spain and Latin America (Brazil, Mexico and Colombia) with CACEIS
S3 Latin American activities would be jointly controlled by the new CACEIS and Santander
The combined entity would be among the major players worldwide and in Europe with EUR 3,343 bn in assets under custody and EUR 1,833 bn in assets under administration
The Crédit Agricole - Pays de France Foundation is becoming involved in the fundraising initiative to rebuild the Cathedral Notre-Dame de Paris.
On Saturday, 13 April from 2:00 p.m. to 7:00 p.m., the Crédit Agricole S.A. group will organise a "Family Day" on both of its campuses. Employees working on the "Evergreen" campus in Montrouge (Hauts-de-Seine) and the "SQY Park" campus in Saint-Quentin-en-Yvelines (Yvelines) are invited to participate in this event with their spouses and children. Nearly 6,000 people, including 3,000 children, are expected to be participating in this new edition.
Crédit Agricole sponsors "Plus fort grâce au sport” (“Stronger Thanks to Sport”), a short program that promotes sport as a vehicle for social and professional growth and integration. This program presents a series of testimonials from amateur and professional athletes for whom sport has resulted in a change of outlook on life as well as self-realization. It will be broadcast every Sunday on TF1 before the 8:00 p.m. television news programme from 7 April 2019, for nearly 6 months.
Amundi Real Estate announces the acquisition of a portfolio of five core office assets in Germany from Warburg-HIH Invest’s “Deutschland Top 5” investment fund.
CACEIS has extended the scope of services it provides to Frankfurt-based Renell Wertpapierhandelsbank AG. Already a Clearing & Settlement Agent for Renell Bank’s OTC fund business, CACEIS gradually took over support in late 2018 for Renell's complete fund, equity and fixed income range. For the funds, this also included the settlement of exchange transactions relating to German regional stock exchanges in Düsseldorf, Berlin and Frankfurt (XETRA T7 and XETRA 2) as well as various segments of the Swiss Stock Exchange (SWX, SFS). CACEIS will provide comprehensive support for Renell Bank in its role as market maker for all the aforementioned asset classes.
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.
In accordance with the second Payment Services Directive (PSD2), the Crédit Agricole regional banks are making their API available to payment services providers (PSPs), in order to comply with PSD2’s Regulatory Technical Standard (RTS).
On Wednesday 27 February, Bienvenue à la Ferme (Welcome to the Farm) and Crédit Agricole signed a partnership agreement during the 2019 Salon International de l’Agriculture trade fair. The agreement aims to provide farmers with the support and tools needed to develop their agritourism and short-circuit food sales activities and comes at a time of increasing connectivity and rapid changes in consumer behaviour.
On the occasion of the Salon International de l’Agriculture trade fair, the European Investment Bank and the Crédit Agricole group formalised the release of the third and final tranche of the Crédit Agricole SME and Mid-Cap Agriculture II financing programme. Launched in 2016, this €300 million package, divided into three tranches of €100 million, is intended to provide loans at attractive terms to small and medium-sized enterprises in the agricultural, forestry and fisheries sectors over three years.
Crédit Agricole is teaming up with Samsung Electronics France to offer the Samsung Pay mobile payment service. This simple and secure solution means that customers of Crédit Agricole’s regional banks who have a Samsung smartphone and a Mastercard can now make purchases with their smartphone in stores with a contactless terminal. The payment limit is the same as on the card.
Samsung Pay will gradually become available to all Crédit Agricole customers by April 2019. More than half of French cardholders will then be eligible for Samsung Pay.
Galaxy S10e, S10, S10+, Note9, Note8, S9, S9+, S8, S8+, S7, S7 Edge, A9, A8, A7, A6, A6+, A5 2017
19 regional banks are compatible as of 6 March: Alsace-Vosges, Aquitaine, Brie-Picardie, Centre-Est, Centre-France, Centre-Ouest, Côtes-d'Armor, Languedoc, Nord-de-France, Nord Midi-Pyrénées, Nord-Est, Paris et Île-de-France, Provence et Côte d'Azur, Pyrénées-Gascogne, Savoie, Sud-Méditerranée, Sud-Rhône-Alpes, Toulouse, Touraine-Poitou
This award strengthens Crédit Agricole CIB’s global leading position as an arranger in the green and social bond market
CACEIS’s servicing portal, OLIS, has been redesigned in order to bring to clients greater clarity, fluidity and better controls over their data. The CACEIS’s Innovation Lab, a collaborative platform shared with clients, allowed CACEIS to better understand their needs and expectations.
As the leading bank for farmers, Crédit Agricole is a partner of all types of farming. With this in mind, it is structuring its specific approach around organic farming with the aim of meeting the needs of farmers whether they are transitioning, setting up or already established in organic farming.
The Crédit Agricole Group has announced the creation of CA Transitions, the first fund dedicated to the transition of energy, agriculture and agri-food systems launched by a bank in its own name. This will consolidate its position as the leading bank supporting the transition across its local areas.
Today, CACEIS and KAS BANK published a joint press release announcing a conditional agreement on a recommended all-cash offer by CACEIS for KAS BANK.
Crédit Agricole aims at optimising its capital structure by filling the AT1 bucket at 1.5% of RWA at Crédit Agricole S.A. level. In this context, on 20 February 2019, Crédit Agricole S.A. seized favourable market conditions to issue its first AT1 Notes since January 2016. The new AT1 issue bears the lowest reset spread amongst Crédit Agricole’s outstanding AT1 securities.
An Amundi Real Estate fund has acquired INK Hotel Amsterdam. INK Hotel Amsterdam, MGallery by Sofitel, which Principal purchased in 2012 in a sale-and-leaseback agreement with Accor Hotel, sold it to Amundi Real Estate’s OPCI fund (a French real estate investment scheme) in December 2018.
Fourth quarter and full year 2018 results
Very good results, solid and balanced
Crédit Agricole CIB today announces three senior appointments
Amundi announces the appointment of Christine Todd as Head of US Fixed Income. Christine Todd will be based in Boston (USA).
€3.8 bn of net new assets over 2018, bringing total AUM to €38.6 bn1
With increasing market share, Amundi is now Europe’s fourth largest ETF provider1
Growth higher than European market since 2016, driven by increased capabilities in meeting asset allocation needs of investors
Like the 18 million French people who volunteer, many employees of Crédit Agricole are committed to promoting projects with a social impact. For the past 11 years, Crédit Agricole has supported their efforts. Now, Crédit Agricole S.A. is organising an association day on its Montrouge campus.
Five years after it was incorporated, FEIH (Futures Energies Investissements Holding), co-owned by ENGIE (50%) and Crédit Agricole Assurances (50%), has tripled its initial portfolio, today reaching 1.5 GW of solar and wind capacity.
Pascal Duval is appointed Head of Retail Solutions. He is a member of the Executive Committee
Julien Fontaine is appointed Head of Partnerships. He is member of Executive Committee
Professional experience is key to facilitating young people’s integration into the job market, but finding an internship can be difficult for students raised in communities with few professional connections.
As part of its broad social commitment, Crédit Agricole is opening its doors to students from middle schools in priority education networks (Réseau d’Éducation Prioritaire - REP or REP+) to help them find quality internships.
To enable all its clients to choose the best options in order to build, grow or protect their wealth according to their plans in life, Crédit Agricole has launched “Trajectoires Patrimoine”. This innovative, free and personalised advisory approach concerns all assets, as from the first euro.
In 3 years, two-thirds of Regional Bank clients will benefit from this personalised advice, i.e. 14 million people.
2018 was another strong year for the Green, Social and Sustainability Bonds market. According to Dealogic data, a total amount of €149bn equivalent was issued from more than 300 individual issuers, led by China (16%), the USA (14%) and France (11%).
The Crédit Agricole Group's strategy in the wine sector is atypical. It is the leading provider of finance for the industry in France, the owner-operator of several vineyards in Bordeaux and Burgundy and it is a minority shareholder of companies in the sector. “Crédit Agricole is at the centre of issues related to the production, management and marketing of wines, in the same way as the clients that it supports” explains Jack Bouin, CEO of Crédit Agricole Aquitaine.
Alongside 12 other major groups, Crédit Agricole is committed to making day-to-day life easier for the French public. This is in addition to the previously-announced price freezes for 2019 and the capping of fees at €25 for all vulnerable clients.
Amundi, a recognised player in the Private Debt market, announces the successful closing of its third and largest ever senior debt fund, with €880 million raised twelve months after launch. This strategy, dedicated to the financing of European mid-cap companies, attracted capital from around twenty institutional investors. Half of the funds initially raised have already been invested in fifteen transactions.
Milan, December 5, 2018 – Supporting and speeding up the young and innovative entrepreneurial initiatives is the aim of the network made up of 28 Villages by Crédit Agricole; these ones are real innovation hubscreated by the proximity bank leader in France and Europe. The headquarters infrastructure of this 28th Village by CA, the 1st in Italy, will be in the very city center of Milan, inside a monastery built during the XIII Century and close to Porta Romana area. A 2700 square meters area is going to host from 40 to 50 startups with 200 work placements.
Crédit Agricole Consumer Finance, a leading consumer finance group in Europe, and Banco BPM, the third largest bank in Italy, signed today a binding Memorandum of Understanding aimed at strengthening their global partnership in the consumer finance sector in Italy for the next 15 years.
Crédit Agricole S.A. successfully completed today its first Green Bond with a benchmark issue of €1 billion. The issue is a 5 year Senior Preferred bond. Structured by Crédit Agricole CIB, this issue met a lot of interest from investors, as reflected by the depth and quality of the order book. In geographical terms, the bulk of interest came from France, Germany, the United Kingdom and the Netherlands. The proceeds will be used to fund in all our territories energy and ecological transition projects of Crédit Agricole's financing entities: the Crédit Agricole Regional Banks, Crédit Agricole CIB, LCL and UNIFERGIE.
With this new service, available via the Ma Carte app, mobile money transfers are now a reality for Credit Agricole customers.
Credit Agricole CIB has been recognised by the mtn-i Asia Pacific 2018 Awards as ‘Best Asian Private Placements Dealer’ during the October 18th 2018 ceremony. This is the top line recognition of all the awards and illustrates the breadth and expertise of the Bank’s MTNs & Private Placements franchise in the region.
Stéphane Priami has been appointed Group Chief Compliance Officer, reporting to Philippe Brassac, Chief Executive Officer of Crédit Agricole S.A.
He takes over from Jean-Pierre Trémenbert, who is retiring.
Stéphane Priami will join the Executive Committee of Crédit Agricole S.A.
Crédit Agricole CIB is the first French bank and one of only three commercial banks in the world to be accredited by the Green Climate Fund, whose goal is to facilitate and promote the development of products aimed at cutting greenhouse gas emissions and responding to the impact of climate change in developing countries. With this accreditation, Crédit Agricole CIB can now offer the Green Climate Fund to take part in its clients green projects, through different formats.
Crédit Agricole S.A.’s annual general meeting of shareholders was held on Thursday 19 May 2016 at the Maison de la Mutualité (Paris), in the presence of Chairman Dominique Lefebvre and CEO Philippe Brassac.
Crédit Agricole is announcing two appointments at its Major Clients division, which encompasses Crédit Agricole CIB, CACEIS and Indosuez Wealth Management and is supervised by Jean-Yves Hocher, Deputy CEO of Crédit Agricole S.A. and CEO of Crédit Agricole CIB.
Véronique McCarroll joins Credit Agricole CIB as Head of Strategy and Business Transformation.
Jean-François Balaÿ is appointed Head of Risks and Permanent Control. Previously, he was Head of Debt Optimisation & Distribution.
Jamie Mabilat is appointed Head of Debt Optimisation & Distribution. He was previously Global Head of the Infrastructure division.
Arnaud Chupin is appointed Head of Credit Agricole CIB’s Internal Audit. He reports operationally to Michel Le Masson, Head of Group Audit, and functionally to Jean-Yves Hocher, Credit Agricole CIB’s Chief executive officer. Previously, he was Senior Country Officer for the United Kingdom.
Daniel Puyo is appointed Senior Country Officer for the United Kingdom. He was previously in charge of Risks and Permanent Control.
The Solvency II Directive, in force since 1 January 2016, enables French institutional investors to expand their securities lending activities. CACEIS provides customised, secure and legally-sound solutions so that mutual insurance societies, pension providers and insurance companies can benefit from the performance opportunities offered by the securities lending market.
STRATEGIC AMBITION 2020:
An ambitious Medium Term Plan combining prudence and performance
A reaffirmed universal customer-focused banking model
A customer-focused development plan in response to the digital revolution
Priority on organic growth and strong synergy development
An important cost reduction plan
An investment programme commensurate with our ambitions
Bénédicte Chrétien has been appointed Head of Group Human Resources of Crédit Agricole SA, reporting to Crédit Agricole SA's Deputy Managing Director in charge of Operations and Transformation. Bénédicte Chrétien's appointment will take effect on 14 March 2016. She will join the Executive Committee.
P101, a venture capital firm specialising in investments in digital and technology-driven companies, has appointed CACEIS in Italy as depositary and administrator for its Programma 101 SICAF S.p.A., the first third-party managed SICAF authorised by the Bank of Italy.
Laurent Bennet has been appointed Head of Agriculture, Agrifood and Business Services, reporting to Crédit Agricole S.A.'s Deputy Managing Director in charge of the Development, Client and Innovation function. His appointment will take effect on 14 March 2016, and he is joining the expanded Executive Committee.
CACEIS has completed the migration of all Crédit Agricole Assurances portfolios to its new central European accounting platform. This operation represents €250 billion in assets administered on behalf of the Crédit Agricole Assurances group and is part of its strategy to align its accounts with GAAP and IFRS standards.
The management company, Haas Gestion, has selected CACEIS as the global Asset Servicing partner for its first Luxembourg UCITS SICAV with multiple sub-funds, named “HAAS UCITS”, through which the ABSOLUTE ALL ROADS sub-fund was launched on 5th January.
Crédit Agricole Private Banking, one of the world’s leading international wealth managers, announces that its operations across Europe, the Middle East, Asia-Pacific and the Americas will henceforth be united under a new organisational structure and a unique worldwide brand Indosuez Wealth Management, which will become the global wealth management brand of Crédit Agricole group.
On 21 December 2015, CA Consumer Finance – the Crédit Agricole group subsidiary specialised in consumer credit – and Banco Popolare signed a double refinancing and distribution agreement regarding Agos.
ACOFI Gestion has selected CACEIS as the depositary, registrar and settlement bank for two securitisation funds, one of which qualifies as a fund for direct lending to the economy.
After a consultation period, QUAERO Capital (France) selected CACEIS to provide middle-office, depositary and accounting services for its first French professional private equity fund (Fonds Professionnel de Capital Investissement – FPCI). QUAERO European Infrastructure Fund is a private equity fund dedicated to the financing of infrastructure projects. Ultimately it aims to raise € 200 million.
Appointments at Crédit Agricole S.A.
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