Crédit Agricole Group launched a new Group Project and a new 2022 Medium Term Plan jointly drafted by the Regional banks and Crédit Agricole S.A.
For the first time, the Group Project spells out Crédit Agricole’s Raison d’être. It serves as the basis of its unique relationship model and lies at the heart of its customer-focused universal banking model. Forward-looking and true to the daily expression of the Group’s usefulness, this Raison d’être guides the Group’s transformation and development while promoting its values of usefulness and universality. It can be summarized as, “Working every day in the interest of our customers and society”.
Through three pillars, the Crédit Agricole Group confirms its customer-oriented universal bank model:
- 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.
Excellence in customer relations at the centre of the Customer Project
The Group aims to be the favourite bank of individuals, entrepreneurs and corporates.
- mobilising all business lines around customer satisfaction by managing it at the highest level, putting the net promoter score (NPS) in the assessment of employees, managers and senior executives, and creating an Academy for Excellence in Customer Relations;
- installing a zero-defect culture (creating a “customer champion” function to solve customer pain points and a “process manager” to streamline banking processes).
The Group aims to increase the number of customers using its digital applications in France and Italy by 20 points by offering an exceptional digital customer experience.
- tools and applications at the highest standards, across all our markets;
- products and services adapted to new customer habits including access-offers to all our services, simple and transparent pricing;
- leverage data to better know our customers and be their trusted third party;
- innovation, with the opening of 17 new Villages by CA in France and Italy;
- and customer journeys natively designed for digital use.
The Group is investing in an innovative strategy of banking and extra-banking services platforms operated directly or with partners.
- rollouts planned in Regional banks: platforms for business creation, for the management of non-profits, for car financing, and for healthcare services from 2019, and in 2020, platforms offering support for job finding, for housing, as well as a digital data vault.
Empowered teams at the centre of the Human Project
Men and women who make up Crédit Agricole are key to the success of the Group Project. In an increasingly digital society, the direct responsibility that a company’s empowered employees can offer its customers is crucial. The Group is placing this empowerment at the centre of its Human Project, to reinforce the amplification of the Customer Project.
The Group will stand apart by always offering its customers a direct access to an empowered relationship manager. Relationship managers will be required to show discernment and their responsibilities will be strengthened, in order to quickly address the specific needs of customers.
- relationship managers’s appraisals based on Net Promoter Score (NPS) and, for managers at Crédit Agricole S.A., assessments based on Engagement and Recommendation Index (ERI) objectives,
- a clear delegation framework (80% of decisions will be taken locally within our retail banking networks in France),
- additional customer-facing time, thanks to native integration of compliance in tools and decisions,
- relationship managers trained in both behavioural and digital skills.
These far-reaching changes require transformations in terms of management and organisation, to empower teams and bring them closer to customers.
- 100% of Group Executives trained in our new leadership model,
- “entrepreneur” managers,
- shorter decision-making chains,
- agile ways of working and working spaces,
- show loyalty towards employee to ensure mutual commitment between employees and the company.
The Group intends to be the best company to work for in financial services in France, and Top 5 in Europe.
A strong commitment to society at the centre of the Societal Project
Crédit Agricole Group will pursue its mutualist commitment to inclusive development and it will continue to make green financing one of its key growth drivers.
Pursuing the mutualist commitment to inclusive development
The Group will draw upon its strong local coverage, in particular via the presence of the Regional banks in the regions, to promote fairer economic development by:
- developing a range of affordable offers for all such as Eko and LCL Essentiel,
- supporting entrepreneurship: Cafés de la Création and Villages by CA,
- preventing and resolving over-indebtedness.
It will also develop social impact financing, by:
- increase significantly investments in the social and solidarity companies (SSC),
- strengthening CACIB’s leadership in the arrangement of social bonds,
- taking action for the economic development of rural populations in emerging countries (via the Crédit Agricole Grameen Foundation).
And it will reinforce societal ties locally, by:
- organising massively work experience placements for middle-school students from deprived areas,
- supporting local associations (culture, sports and solidarity), alongside projects conducted by the Regional banks,
- strengthening the role of its Foundations.
Green finance – one key growth drivers for the Group
- commit all the Group’s entities to a common climate strategy, in line with the Paris Agreement, its implementation will be certified by an independent body and published in 2020 based on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD),
- strengthen our commitments to financing the energy transition: exiting from thermal coal production in EU and OECD countries by 2030 (no new business relations with companies for which thermal coal accounts for over 25% of their revenues except those that have announced plans to close their thermal coal activities or which intend to announce such plans by 2021.
- No business relations with companies developing or planning to develop new thermal coal capacity), financing one in three renewable energy projects in France, doubling the size of our green loans portfolio to €13 billion by 2022,
- promote clean and responsible investment policies: incorporating ESG criteria in all funds managed by Amundi and all new investments by Crédit Agricole Assurances, reach €6bn of the Group’s liquidity portfolio in socially responsible investments (SRI) financial products,
- assigning a transition rating to large corporate customers to structure dialogue with them on their energy transition roadmap.
The Group intends to be the European leader in responsible investment.
A whole bank just for you
Thanks to its universal customer-focused banking model – based on close cooperation between its retail banks and its specialised business lines – reaffirmed by its new “A whole bank just for you” brand signature, Crédit Agricole helps its customers to realise all their personal and business projects. It does so by offering them an extensive range of services consisting of day-to-day banking, loans, savings products, insurance, asset management, real estate, leasing and factoring, corporate and investment banking, issuer and investor services.
Serving 51 million customers worldwide, it also stands out on account of its distribution model, multi-channel customer-focused banking, and the efforts of its 141,000 employees, who make Crédit Agricole the Customer Relationship-based bank.
Built on its strong cooperative and mutual foundations and led by its 9.3 million members and almost 31,000 directors of its Local and Regional Banks, Crédit Agricole’s organisational model gives it stability and staying power. It also draws its strength from its values of transparency, customer focus, accountability and openness to the world and from local communities, which it has cultivated over 120 years.
Crédit Agricole’s corporate social responsibility policy lies at the heart of its identity as a helpful and responsive bank over the long term. It is reflected in its products and services and informs the actions of all its business lines. It is a key factor contributing to overall performance and a powerful innovation driver.
Crédit Agricole Group extends its leadership year after year. It is the number one provider of financing to the French economy and the number one insurer in France. It is also the first bancassurer in Europe, the first European asset manager and the world’s second-largest provider of green financing.
- A presence in 47 countries
- 51 million customers worldwide
- 141,000 employees in France and abroad
- 1 bancassurer in Europe
- 1 European asset manager
- The world’s second-largest provider of green financing
- Among the European Top 3 in Consumer Credit
 Scope of French and international retail banking, Crédit Agricole Consumer Finance and Crédit Agricole Bank Polska consumer finance customers.
 Based on the value of outstanding deposits and loans as of 31/12/2016. Source: Bank, French retail banking.
 In terms of premium income. Source: l’Argus de l’assurance published on the 16 December 2016 and La Tribune de l’assurance published on the 16 November 2016.
 In terms of premium income. Source: l’Argus de l’assurance published on the 16 December 2016, data at end-2015.
 N°1 of all management companies who have their main Office in Europe – Source: IPE “Top 400 Asset managers” published in June 2016, based on assets under management at December 2015.
 Source: Bank.