Crédit Agricole Group is a French banking group that offers banking and insurance services through a network of regional, local banks and its branches.
Creditagricoleis a leading financial partner to the French economy and one of the largest banking groups in Europe.
It is sometimes called “The Green Bank”, because of its historical ties to farming. As of May 2016, the bank boasted of the market capitalization of $29.9 Billion and assets worth $ 1,661.27 Billion. The bank ranked 110 on Forbes Global 2000. Crédit Agricole Group is headquartered in Montrouge, France.
As of May 2016, the bank boasted of the market capitalization of $29.9 Billion and assets worth $ 1,661.27 Billion. The bank ranked 110 on Forbes Global 2000. Crédit Agricole Group is headquartered in Montrouge, France.
- Products and Services of Credit Agricole
- Online Banking Service
- Card Payments and Services of Credit Agricole
- Merger and Acquisitions
- Bank’s Websites of Credit Agricole
History of Credit Agricole
In the mid-1800s, France experienced a severe low production of agricultural goods. The reason was because of the lack of sufficient credit for farmers who often could not meet the bank’s normal credit requirements.
To address this situation, the government made several failed attempts to set up agricultural banks including the Societé de Crédit Agricole which folded up in 1876.
The history of Crédit Agricole Group can be traced to the enactment of the 1884 Act which established the freedom of professional association and authorized the creation of farm unions and the foundation of local mutual banks. This created an environment conducive to the emergence of suitable banks.
Drawing on this experience, an Act was enacted in 1894 to provide state-subsidized loans to farmers. The Act of 5 November 1894, which had the support of the Minister for Agriculture paved the way for the creation of Crédit Agricole’s Local Banks.
As Crédit Agricole grew in resources and capacity, it began to help not only individual farmers but also the cooperative trade movement gaining ground among agricultural groups.
These new agricultural cooperatives, which organized industries in a way similar to unions, could often not raise the money to organize, and they needed Crédit Agricole’s support.
A major phase in Credit Agricole’s history began when the government passed an act to privatize CNCA on 18 January 1988. CNCA was transformed into a public limited company, with a 90% stake sold to the Regional Banks and 10% to staff. Credit Agricole became fully independent of the government.
CNCA was listed on the stock market in 2001 under the name Credit Agricole S.A. This gave its majority owner, the Regional Banks, a listed vehicle through which to carry out major acquisitions.
Products and Services of Credit Agricole
Credit Agricole provides engages in the provision of banking and financial services. It operates through the following segments: French Retail Banking (Regional Banks); French Retail Banking (Le Credit Lyonnais Network); International Retail Banking; Savings Management and Insurance; Specialized Financial Services; Corporate and Investment Banking; and Corporate Centre.
The French Retail Banking (Regional Banks) segment provides banking and financial services for individual customers, farmers, small businesses, corporate and local authorities. The French Retail Banking (Le Credit Lyonnais Network) segment offers asset management, insurance, and wealth management products.
The International Retail Banking segment covers foreign subsidiaries and investments that are involved in retail banking. The Savings Management and Insurance segment offer asset management activities; asset servicing for institutions.
Others are life insurance and personal insurance; property and casualty insurance; credit insurance activities; and private banking activities conducted mainly by CA Indosuez Private Banking and by Crédit Agricole subsidiaries. The Specialized Financial Services segment provides consumer financing services and specialized financial services such as factoring and leasing.
Online Banking Service ( i – Bank) at credit-Agricole.fr/
The bank’s online banking services allow customers to access products and perform transactions with accounts via the Internet at any time from any computer or portable device. Customers using this service can do the following:
- Firstly, Receive information about the balances in the accounts opened with the Bank;
- Independently generate account cash flow statements;
- Make money transfers and payments in national currency to any bank details (including to the other banks);
- Replenish deposits;
- Finally, Repay loans.
To use thisFianll service, customers must register for the i-Banking system. To do this, go to this link – https://online.credit-agricole.ua/en/security/register#!/ and fill in the registration forms. Login details and Password will be sent to you via SMS and thereafter you can start enjoying the service
Cards and Payments
Crédit Agricole Cards & Payments provides all the components needed to assist customers in achieving business development objectives. Crédit Agricole Payments platform handles all payment transactions, including card systems and electronic banking, and covers the whole of the value chain for debtors and creditors.
It processes all payment flows (cards, cheques, drafts, European credit transfers, and direct debits), and cover all stages of transactions from exchange to clearing and settlement.
Merger and Acquisitions
- 2006 – Egyptian American Bank (EAB) and Calyon Bank announced their merger yesterday into Crédit Agricole Egypt (CAE).
- 2006 – Crédit Agricole acquired 100% stake in Serbian bank Meridian bank
- 2011 – Crédit Agricole acquired Lukas Group
- 2016 – Crédit Agricole Corporate and Investment acquired RBS Asia Limited