Crédit Agricole in Italy

Crédit Agricole has been present in Italy, the second Group domestic market, since 1972. It has been deploying a Universal Proximity Banking strategy since 2007 with the acquisition of Cariparma and Friuladria, followed by Carispezia in 2011.

The Proximity Banking activity in Italy includes the historical networks of the Gruppo Bancario Crédit Agricole Italia (“CA Italia”) namely CA Cariparma, CA Friuladria and CA Carispezia (the latest was fully merged with CA Italia in July 2019), and the three banks (Cassa di Risparmio di Cesena, Rimini and San Miniato) acquired in Dec. 2017 and successively merged with CA Italia.

All the networks operate under the brand Crédit Agricole, recognized as a strong stable international bank on Italian market.

CA Italia is present in 11 Italian regions which represent 73% of the country population and generating more than 80% of national GDP.

Recognized for its customer-centric positioning, CA Italia is a Proximity Bank covering all market segments (Private Individuals, Entrepreneurs, SMEs, Corparate, Agri-Agro, Private banking) with a wide and integrated product offer.

All the Group business lines are present in Italy: consumer finance, leasing and factoring, corporate and investment banking, asset management, investor services, wealth management, Insurance.

In 2019, CA Italia confirmed structural growth based on a sustainable model resulting in a significant increase of market share, a dynamic customer acquisition and a strong financial performance with a continued decline of cost of risk (-8,7% vs 2018) resulting in a 10 year net result high.

Italy : 59.11 million inhabitants

More than 2,7 M customers 1120 branches 12 180 employees   Total asset : 96.2 bn€

Highlights - Prizes and Awards

• Completion of the integration of Credito Valtellinese (CreVal).
• Expansion of the Le Village ecosystem: opening of a third facility in Padua (Triveneto region), specifically focused on ESG.
• Launch of the first two ESG-linked products dedicated to the agri-food sector (Agri Energia and Agri Blu); creation of a team dedicated to the NRRP (National Recovery and Resilience Plan); Ecobonus.
• Individual clients and companies support to deal with tyhe risong energy costs, including the suspension of loan repayments (up to 12 months) and the granting of reduced rate loans (16 billion ceiling for all these actions).
• Digital offering: streamlining and strengthening of remote non-life insurance sales; new savings management features for using bank account liquidity.
• Acceleration of intra-group synergies to develop cross-selling. Several examples of strategic projects with Crédit Agricole CIB (joint management of a group of corporate customers selected for a high-end offering); with CAA for non-life bancassurance and CAIWI for savings management.
• Doubling of parental leave for fathers from 2023.
• Ranked No 2 (among universal banks in Italy) on the Strategic Net Promoter Score with strong growth of its customer base in 2022 (150,761 new customers).

Rating

Moody’s: Baa1, stable
Fitch : BBB-
(Ratings as of Q1 2021)

Source: BPI/Fin – Data at 12/31/2020

MTP 2022 Strategic ambition: sustainable development in line with the global Group strategy

• Develop a model based on proximity to local economy and customers, promote sustainable development, support entrepreneurship in particular Agri-Agro sector;
• Boost customer acquisition;
• Develop a distinctive and differentiated model of service to meet specific needs of customers,  reinforce the distribution of high value-added products (Wealth Management, insurance, trade finance, advisory);
• Improve operational performance: digitalization of key processes using agile method to increase efficiency and client impact, simplification of legal entities, retail network optimization;
• Close collaboration and continued expansion of synergies with other Group business lines.

Italy is the Crédit Agricole Group’s second domestic market.

All of the Group’s business lines are present in the country: commercial banking, consumer credit, corporate and investment banking, asset management, insurance, and services dedicated to wealth management, which complement the whole range of products. Close collaboration and developed synergies between the commercial network of banks and business lines makes it possible for Crédit Agricole to bring a vast and comprehensive range of offers to Italy, serving all economic players.

source : Insee FMI, ECO (Data at end 2020)