WORKING EVERY DAY IN THE INTEREST OF OUR CUSTOMERS AND SOCIETY - INTEGRATED REPORT - Liste des ...

Page created by Jason French
 
CONTINUE READING
WORKING EVERY DAY IN THE INTEREST OF OUR CUSTOMERS AND SOCIETY - INTEGRATED REPORT - Liste des ...
WORKING EVERY DAY IN THE INTEREST
OF OUR CUSTOMERS AND SOCIETY

2019
INTEGRATED
REPORT
WORKING EVERY DAY IN THE INTEREST OF OUR CUSTOMERS AND SOCIETY - INTEGRATED REPORT - Liste des ...
CUSTOMER-FOCUSED UNIVERSAL BANKING

   Crédit Agricole has rolled out a unique customer-focused universal banking
                                                                                                                                                    CRÉDIT AGRICOLE GROUP’S RAISON D’ÊTRE
model based on the Group’s complimentary activities. As such, its local networks
offer all customers a complete range of banking and non-banking services suited
to their needs, through all channels and created with specialised business lines,                                             WORKING EVERY DAY IN THE INTEREST
        leaders in their respective fields in France as well as internationally.
                                                                                                                               OF OUR CUSTOMERS AND SOCIETY

                                                                                                                               Crédit Agricole’s end purpose,
                                                                                                                               is to be a trusted partner to all its customers:
                                                                                                                               Its solid position and the diversity of its expertise enable CA to offer all its customers
                                                                                                                               ongoing support on a daily basis and for their projects in life, in particular by helping them
                                                                                                                               to guard against uncertainties and to plan for the long term.

                             IN FRANCE                                                                                         CA is committed to seeking out and protecting its customers interests in all it does.
                                                                                                                               It advises them with transparency, loyalty and pedagogy.
                             39 CRÉDIT
                             AGRICOLE                                       ABROAD                                             It places human responsibility at the heart of its model : it is committed to helping
                             REGIONAL BANKS                                 ∙ Crédit Agricole Italia                           all its customers benefit from the best technological practices, while guaranteeing them access
                                                                            ∙ CA Bank Polska                                   to competent, available local teams that can ensure all aspects of the customer relationship.
                                                                            ∙ CA Egypt
                                                                            ∙ Crédit du Maroc
                                                                            ∙ CA Ukraine                                       Proud of its cooperative and mutualist identity
                                                G
                                           NKIN
                                                                            ∙ CA Romania                                       and drawing on a governance representing its customers, Crédit Agricole:
                                      BA                                    ∙ CA Serbia
                                   IL                                                                                          Supporting the economy, entrepreneurship and innovation in France and abroad:
                              TA

IN FRANCE                                                                                                                      it is naturally committed to supporting its regions.
                           RE

∙ LCL                                                                                  SPECIALISED SUBSIDIARIES
∙ BforBank                                  51 MILLION                                 Crédit Agricole Capital,                It takes intentional action in societal and environment fields,
                                                                           OTHE

                                               CUSTOMERS                               Investment & Finance                    by supporting progress and transformations.
                                          Individuals, Farmers,                        (IDIA CI, SODICA CF), Uni-médias
                                                                               RS

                                   Small Businesses, Local Authorities,                                                        It serves everyone: from the most modest to the wealthiest households, from local
                                        Institutionals, Corporates                                                             professionals to large international companies.

                                           47 COUNTRIES
   LARGE                                                                                                                       This is how Crédit Agricole demonstrates its usefulness and availability
                                                                                    SPECIALISED FINANCIAL
   CUSTOMERS
                                              142,000                                                                          to its customers, and the commitment of its 142,000 employees to excellence
                                               EMPLOYEES                            SERVICES
                                                                                                                               in customer relations and operations.
   ∙ CRÉDIT AGRICOLE CIB                                                            ∙ CRÉDIT AGRICOLE CONSUMER
    Corporate and                                                                     FINANCE
    investment bank                SP                             S                   Consumer finance
                                      EC                    LI NE
   ∙ CACEIS
                                           IALIS                                    ∙ CRÉDIT AGRICOLE LEASING
    Securities and
    investor services
                                                ED BUSINESS                           & FACTORING
                                                                                      Lease financing and
                                                                                      factoring
                           ASSET GATHERING
                           ∙ CRÉDIT AGRICOLE ASSURANCES
                            Savings, life, death and disability,
                            creditor and property/casualty insurance
                           ∙ AMUNDI                                       PAYMENT SYSTEMS
                            Asset management                              ∙ CRÉDIT AGRICOLE

                                                                                                                          10 th                  1st                     1st                    1st                       1st
                           ∙ INDOSUEZ WEALTH MANAGEMENT                     PAYMENT SERVICES
                            Wealth management
                           ∙ CRÉDIT AGRICOLE IMMOBILIER
                            Global real-estate operator                                                                      bank               cooperative                 bank                   insurer               European
                                                                                                                           worldwide             worldwide               in France               in France             asset manager
WORKING EVERY DAY IN THE INTEREST OF OUR CUSTOMERS AND SOCIETY - INTEGRATED REPORT - Liste des ...
CONTENTS                                                                                                     ABOUT CRÉDIT AGRICOLE

                                                                                                                         Crédit Agricole Group includes Crédit
                                                                                                  page 2
GROUP PROFILE                                                                                                            Agricole S.A., as well as                                                     10.5 MILLION
                                                                                                                                                                                                  MUTUAL SHAREHOLDER
                                                                                                                         all of the Regional Banks and Local                                    WHO HOLD MUTUAL SHARES IN
CHAPTER 1       OUR VALUE CREATION                                                                page 14
                                                                                                                         Banks and their subsidiaries.
                                                                                                                                                                                                               2,417
CHAPTER 2       GROUP PROJECT AND 2022 MEDIUM-TERM PLAN                                           page 24                                                                                                   LOCAL BANKS

CHAPTER 3       OUR RESPONSIBLE AND COMMITTED GOVERNANCE                                          page 38

GLOSSARY        Find the definition of specific words and acronyms                                page 45

                                                                                                                                           FLOAT
                                                                                                                                            32.4%
                                                                                                                                                                                                                   39
                                                                                                                                                                                                       REGIONAL BANKS
                                                                                                                                   INSTITUTIONAL INVESTORS                              Jointly holding the majority of Crédit Agricole S.A.’s
                                                                                                                                            7.0%                                             share capital through SAS Rue La Boétie.(1)
                                                                                                                                  INDIVIDUAL SHAREHOLDERS
                                                                                                                                           4.7%                                                         ~
                                                                                                                                                                                              100%    25 %                      Political link
                                                                                                                                 EMPLOYEE SHARE OWNERSHIP
                                                                                                                                        PLANS (ESOP)
                                                                                                                                                                                             Sacam                      Fédération Nationale
                                                                                                                                           N-S(2)                                            Mutualisation              du Crédit Agricole (FNCA)
                                                                                                                                      TREASURY SHARES
                                                                                     In the Top

                             1                                                             3
                                                                                                                                       44.1%                                                                55.9%
            No.
        provider of financing                                                           companies
       to the French economy                                                      that recruit in France
          Internal source Econ Studies                                           Source Le Figaro September 2019

                                                                                                                    ASSET
                                                                                                                   GATHERING                                                                                                                      SPECIALISED
                                                                                                                                                                                                                                                  SUBSIDIARIES

            No.
       bookrunner worldwide
                             1                                                        51
                                                                                 million customers
                                                                                                                                                Polska, Egypt, Ukraine,
                                                                                                                                                Romania, Srbija

                                                                                                                                                Italia

          for green bonds                                                    of which 31 million in Retail
    all currencies in volume and market share                                    Banking in France
                Source Bloomberg                                                                                                       RETAIL                                                                     LARGE
                                                                                                                                      BANKING                                                                   CUSTOMERS

                                                                                                                                                                          SPECIALISED
                                                                                                                                                                           FINANCIAL
                                                                                                                                                                            SERVICES
              Additional information is available in the Universal Registration Document (URD).                                                                                                         (1) The Regional Bank of Corsica, 99.9%
                                                                                                                                                                                                        owned by Crédit Agricole S.A., is a shareholder
                                                                                                                                                                                                        of Sacam Mutualisation.
                                                                                                                                                                                                        (2) Non-significant.
WORKING EVERY DAY IN THE INTEREST OF OUR CUSTOMERS AND SOCIETY - INTEGRATED REPORT - Liste des ...
Editorial                                                                                                                                                                                                                                                CRÉDIT AGRICOLE S.A. — 2019 INTEGRATED REPORT

LOCAL CUSTOMER-FOCUSED TEAMS
AND UNIVERSALITY: WHAT DRIVES US
Among the highlights of Crédit Agricole Group in 2019,
one exceeds the others by its strength and scope:
it is the expression of a Raison d’Être, not statutory,
but that commits us both internally and with respect                                            Accompanying
to our stakeholders. Much more than a roadmap,
our Raison d’Être, unveiled last June, expresses
                                                                                                the energy transition and                                                                                                    Our goals, to pursue our commitment to inclusion and to make

the true meaning of our activities.                                                             monitoring the impacts                                                                                                       sustainable finance one of the keys to the Group’s growth are con-
                                                                                                                                                                                                                             crete and responsible. They are concrete because, when it comes
It is the link between our history, our values and the                                          of our financing combine                                                                                                     to inclusion, we rely on a comprehensive range of offers that takes
                                                                                                                                                                                                                             into account the needs of all our customers, including the most
Group Project. It fuels the responsible relationship-based                                      social and environmental                                                                                                     vulnerable. Concerning climate, we are amplifying our approach
banking model that characterises us.                                                            considerations.”                                                                                                             to help customers transition towards a cleaner economy. We are
                                                                                                                                                                                                                             also strengthening our tools to measure the environmental impacts
                                                                                                                                                                                                                             of our financing and investment decisions. The financing of large-
                                                                                                                                                                                                                             scale renewable energy projects will be amplified.
                                                                                                Dominique Lefebvre                                                                                                           These goals are also responsible because they link our corporate
                                                                                                Chairman of the Board of Directors
                                                                                                                                                                                                                             interest to that of our environment. Ensuring that our banking ser-
                                                                                                                                                                                                                             vices, in terms of pricing and physical or digital accessibility, are
                                                                                                                                                                                                                             within the reach of all, combines corporate interest and responsibil-
What is the particular importance                                                                                                                                                                                            ity toward our fellow citizens. Accompanying the energy transition
of the Group’s Raison d’Être?                                                                                                                                                                                                and monitoring the impacts of our financing combine corporate
D. L.: The Raison d’Être drives our commitment to our customers                                                                                                                                                              and environmental interest.
and society as a whole. It is both our compass for the future and
the synthesis of the values that are the strength of Crédit Agricole
and the basis for its usefulness for more than 125 years. It places                                                                                                                                                          The addition of geopolitical, social and health risks, with
our project in a virtuous dynamic where each individual decision is                                                                              This is about shifting                                                      their effects on the global economy, rates and markets,
made in the common interest.                                                                                                                                                                                                 are transforming the banking business environment.
                                                                                                                                                 from added responsibility to                                                How does the Group react to this environment?
P. B.: The Raison d’Être is the cornerstone of our Group Project,
which is divided into three pillars that reinforce each other. The
                                                                                                                                                 integrated responsibility,                                                  P. B.: Our Group has strengths that allow it to deal with an adverse
                                                                                                                                                                                                                             environment. We are the tenth largest bank in the world, one of the
Societal Project aims to finance a greener economy and for the                                                                                   at the heart of our activities                                              strongest in the European Union.
Group to be a useful player committed to enabling inclusive devel-                                                                                                                                                           Our universal customer-focused banking model is robust and
opment in each and every region. These topics are already known
                                                                                                                                                 and ambitions.”                                                             diverse, and our social commitment, at the heart of our Medi-
to us, but the challenge is to change the scale and take them into                                                                                                                                                           um-Term Plan, is our strength, in times of crisis and beyond.
account: it is to move from an added responsibility to an integrated                                                                                                                                                         Our level of capitalisation and our liquidity reserves are considera-
responsibility, at the heart of our activities and ambitions.                                                                                    Philippe Brassac                                                            ble. This strength allows us, during these uncertain times, to sup-
The Customer Project and the Human-centric Project are closely                                                                                   Chief Executive Officer                                                     port all our customers, individuals, SMEs and small businesses,
linked to reach excellence in customer relations: digital transforma-                                                                                                                                                        and corporates. Our priority is to work in favour of the economic
tion allows women and men of the Group to bring all their added                                                                                                                                                              development of all and of all regions, and then to contribute to the
value to customers, in order for them to benefit from excellence in                                                                                                                                                          recovery of the economy. That is our Raison d’être.
customer relations and direct access to an empowered relationship
manager.                                                                                                                                         When will we be able to assess                                              The global health crisis we are experiencing is an unprec-
                                                                                                                                                 the good conduct of the Group Project?                                      edented phenomenon for our modern societies, the long-
                                                                                                                                                 What is its trajectory?                                                     term effects of which we do not yet know, whether they
What strategic orientation have you implemented                            that are useful to a global response to the needs of its customers.   D. L.: The strength of Crédit Agricole allows it to project itself in the   are health-, social- or economy-related. The rate at which
to serve this ambition?                                                    The Group participates in international banking consolidation, not    future in any context. Although the Group Project does not fit into a       it has spread, having turned global in a few weeks, should
P. B.: The results of the year are positive in terms of activity, opera-   through cross-border banking mergers, but through the signing of      defined timetable, we can nevertheless assess its relevance at dif-         make us question our ability to take coherent and collective
tional efficiency and performance. In addition to the above, another       partnerships, through business lines, with other players in Europe    ferent times: in the assessment that will be carried out for the 2022       action, not only in the face of health and economic crises,
factor of satisfaction is the fact that 2019 has strengthened the          and Asia. In 2019, we signed or strengthened many distribution        Medium-Term Plan, and later at more distant times, in 2030, in par-         but also in the face of other global challenges, including cli-
recognition of our relationship-based banking model. This model            agreements in France, Italy, Spain and China. The sustainability of   ticular, which is the time frame of many environmental and societal         mate crises. This crisis is a warning, we must draw the con-
is based on the aggregation over time of all the business lines            this process is based on its effectiveness.                           commitments made at national and international levels.                      sequences of it, collectively.

6                                                                                                                                                                                                                                                                                                    7
WORKING EVERY DAY IN THE INTEREST OF OUR CUSTOMERS AND SOCIETY - INTEGRATED REPORT - Liste des ...
Group profile                                                                                                                                                                                                                                         CRÉDIT AGRICOLE S.A. — 2019 INTEGRATED REPORT

A GROUP
IN FULL-GROWTH MODE                                                                                                                                        A presence in

                                                                                                                                                           47 COUNTRIES
                                                                                                                                                                                                          FRANCE

The tenth largest bank in the
world today, Crédit Agricole was                                               AMPLIFICATION AND ACCELERATION                                                                                 €  2,425m  Net income*
                                                                                                                                                                                                                                                        EUROPE
                                                                                                                                                                                                                                                   EXCLUDING FRANCE
created more than 125 years ago                                                     Group Project and 2022 Medium-Term Plan                                      AMERICAS

                                                                                                                                                                                              104,600
                                                                               2019 Expression of the Raison d’Être of the Group
to meet the financing needs of
                                                             2017–2019                                                                                                                                                                             1,646m
                                                                                    Merger of CACEIS and Santander
farmers. The Group has always
developed with two guiding                                                     2018
                                                                                      Partnership of CACF with Bankia and Banco BPM                          € 225m
                                                                                                                                                                 Net income*
                                                                                                                                                                                                employees                                      €
                                                                                                                                                                                                                                                       Net income*
                                                                                      Partnership of CAA with Creval, Novo Banco
principles. Utility through the
great transformations of society,                                              2017
                                                                                      Amundi’s acquisition of Pioneer Investments                             1,300                                                                                28,900
                                                                                                                                                                                                                                                    employees
                                                                                      Integration of Banca Leonardo and three Italian banks                    employees
and the Universal reach of its
business lines, offers, regions
and customers.                                                             SIMPLIFICATION
                                                     2011–2016

                                                                                  Completion of the Eureka transaction to simplify the Group’s capital
                                                                           2016   structure
                                                                                  Presentation of the 2020 Strategic Ambition Medium-Term Plan

                                                                           2015   Amundi IPO

                                                             DIVERSIFICATION
                                                             2010        Creation of CACF, CAL&F and CACIB. New head office in Montrouge
                                       2002 – 2010

                                                             2009        Launch of BforBank, creation of CAA and Amundi
                                                             2006        Acquisition of Cariparma, CA Egypt, CA Ukraine and Emporiki
                                                             2005        Creation of CACEIS
                                                             2003        Acquisition of Crédit Lyonnais (renamed LCL in 2005) and acquisition of Finaref                                            AFRICA
                                                                                                                                                                                                AND MIDDLE EAST
                                                                                                                                                                                                                                                           ASIA & OCEANIA

                                            REINFORCEMENT                                                                                                                                      €   158m                                                   €  390m
                       1986 – 2001

                                                                                                                                                                                                      Net income*
                                            2001     CNCA renamed Crédit Agricole S.A., IPO on 14 December 2001
                                                                                                                                                                                                                                                               Net income*
                                            1990     Creation of Pacifica (property and casualty insurance)
                                                     Act organising the transfer of ownership of CNCA, which became a public company,
                                                                                                                                                                                                 5,200
                                                                                                                                                                                                  employees                                                2,400
                                            1988                                                                                                                                                                                                            employees
                                                     to the Regional Banks.
                                            1986     Creation of Predica (life insurance)

                     CREATION AND DEVELOPMENT                                                                                                                                    THE GROUP
                     1959      Order allowing Crédit Agricole to distribute housing loans, in rural areas, to non-farming households
                                                                                                                                                                               IN THE WORLD
        1885 –1985

                     1945      Creation of Fédération Nationale du Crédit Agricole (FNCA), the sounding board for the Regional Banks
                     1899      Viger Act (Articles of Association of the Regional Banks) which allowed the creation of the Regional Banks
                     1894      Birth certificate of Crédit Agricole, the Méline Act, allowing the creation of the first Local Banks                                             * Net income Group share published in 2019 in millions of euros.

                     1885      Creation of the first Local Bank in Poligny (Jura)

8                                                                                                                                                                                                                                                                                                 9
WORKING EVERY DAY IN THE INTEREST OF OUR CUSTOMERS AND SOCIETY - INTEGRATED REPORT - Liste des ...
Group Profile                                                                                                                                                                                                                         CRÉDIT AGRICOLE S.A. — 2019 INTEGRATED REPORT

WE ARE ADOPTING                                                                                                                         OUR EXCHANGES
“SMART COMPLIANCE”                                                                                                                      WITH STAKEHOLDERS

The goals of our compliance policy are to protect Crédit Agricole Group                                                                 Through regular dialogue and at all levels with stakeholders,
with respect to regulations, to place ethics and loyalty at the heart                                                                   Crédit Agricole listens to their expectations
of the relationship with our customers, to provide them with services                                                                   to provide value-creating responses.
and organisations with the best standards. These issues are presented
in the “Smart Compliance” programme.

Our Compliance business lines have been
meeting the need for increased protection for
                                                                                                                                                                                             PUBLIC AUTHORITIES
15 years: combating money laundering and                                                                                                                                                       & REGULATORS
terrorist financing, complying with interna-
                                                                                                                                                                                          Government, international
tional sanctions, protecting customers and                                  SMART COMPLIANCE                                                           PARTNERS
                                                                                                                                                                                         and national bodies, regions                          CIVIL SOCIETY
their personal data, preventing fraud and cor-
                                                                                                                                                                                     • Relations with supervisory and regulatory           & THE GENERAL PUBLIC
ruption, promoting ethical values within the                           ROADMAP FOR THE NEXT THREE YEARS                                               Suppliers,
                                                                                                                                                  partner companies                    banking and financial authorities
Group.                                                                                                                                                                                                                                         NGOs, media, etc.
                                                               IN CONNECTION WITH THE MTP OF CRÉDIT AGRICOLE GROUP                                                                   • Participation in the industry consultations
                                                                                                                                            • Signing of commercial, technical
                                                                                                                                                                                                                                     • Regular dialogue with NGOs,
The main challenge is to accompany the                                                                                                        and distribution partnerships
                                                                                                                                                                                                                                       notably on climate strategy
                                                                                                                                            • Creation of joint ventures
Group’s business lines on a daily basis for the                                                                                                                                                                                      • Completion of a bi-annual CSR barometer
                                                                                                                                            • Responsible purchasing policy
Compliance culture to be “natively” integrated                                                                                                                                                                                       • Participation in trade shows
                                                                                              4                                             • Co-construction with our suppliers
                                                                                                                                                                                                                                     • Press and Media Relations
into behaviours and processes, so that it can                                              PILLARS                                          • Local purchasing
create value.

                                                   REGULATIONS               IMAGE                QUALITY/              LOYALTY
                                                                                                PERFORMANCE

                                                       Protect            Accompanying                                     Making
The Compliance business line is                       the Group             the Group,             Increasing          Compliance a
cross-functional to all entities                    and anticipate         subsidiaries           efficiency in        differentiator                                                            EMPLOYEES
                                                  future regulations       and Regional        business networks     and a know-your-
                                                                                                                                                                                                 Employee
                                                       Priority              Banks in               as well as           customer                                                          representative bodies
                                                      on OFAC*            risk reduction          in back and              factor                                                                                                              SHAREHOLDERS
                                                                            and brand                                                                  CUSTOMERS                    • Measuring employee engagement (ERI –
                                                   * Compliance with US                          middle offices                                                                       Engagement and Recommendation Index)
                                                                                                                                                                                                                                                & INVESTORS
                                                       obligations.         protection                                                            Farmers, individuals,             • Social dialogue at local, national and           Investors, analysts, individual
                                                                                                                                              SMEs and small businesses,              international levels (Consultation             shareholders, rating agencies, etc.
95%       of employees
                                                                                                                                               entrepreneurs, corporates,
                                                                                                                                           associations, local authorities, etc.
                                                                                                                                                                                      Committee, Group Committee, European
                                                                                                                                                                                                                                     • Investor and analyst meetings
                                                                                                                                                                                      Works Council)
trained in Compliance                                                                                                                                                                                                                  (roadshows and conferences,
                                                                                                                                         • Strengthening processes to listen
requirements                                                                              3                                                to customers, monitoring customer                                                           Governance and ESG roadshows)
                                                                                                                                           satisfaction through the Net Promoter                                                     • Exchanges with rating agencies
                                                                                       LEVERS                                                                                                                                        • Dialogue with individual shareholders
                                                                                                                                           Score (NPS)
                                                                                                                                         • Consideration of expectations                                                               (Shareholder Club, Liaison Committee,
                                                                                                                                           (barometers, marketing studies,                                                             shareholder meetings, monthly
                                                                                                                                           co-construction workshops)                                                                  newsletters)
                                                                                                                                         • Development of an innovation ecosystem                                                    • Annual General Meeting
                                                                                                                                           (Villages by CA, Data Lab, La Fabrique
Creation of the Compliance                                                                                                                 by CA, partnership with CEA and
Valley Community, composed of                         ORGANISATION,                  PEOPLE AND                    INNOVATION,             Breega Capital, innovation management
                                                                                                                                           companies)
Group employees, to stimulate                        GOVERNANCE AND                   TRAINING                     TECHNOLOGY
innovation                                           COMMUNICATION                                                   AND DATA

10                                                                                                                                                                                                                                                                               11
WORKING EVERY DAY IN THE INTEREST OF OUR CUSTOMERS AND SOCIETY - INTEGRATED REPORT - Liste des ...
Group profile                                                                                                                                                                                                                                     CRÉDIT AGRICOLE S.A. — 2019 INTEGRATED REPORT

OUR ACTIONS IN FAVOUR                                                                                                                                                                                                                I find that Crédit Agricole S.A.’s

OF STAKEHOLDERS                                                                                                                                                                                                                communication with its shareholders
                                                                                                                                                                                                                                 is accessible and detailed, and that
                                                                                                                                                                                                                                     the company strives to educate
                                                                                                                                                                                                                                      about its strategy and results.”
                                                                                                                                                                                                                                                          J. Duparchy, individual shareholder,
The needs of stakeholders are multiple, complex, and constantly evolving.                                                                                                                                                                                    member of the Liaison Committee
Through its new Medium-Term Plan, Crédit Agricole S.A. provides and adapts
its short-, medium- and long-term responses to build lasting relationships
with each of the players.

                                                                                                                    SHAREHOLDERS                                                                        PUBLIC AUTHORITIES                                  CIVIL SOCIETY
                   CUSTOMERS                                      EMPLOYEES                                                                                         PARTNERS
                                                                                                                     & INVESTORS                                                                          & REGULATOR                                   & THE GENERAL PUBLIC

 ISSUES & EXPECTATIONS IDENTIFIED                  ISSUES & EXPECTATIONS IDENTIFIED                ISSUES & EXPECTATIONS IDENTIFIED                 ISSUES & EXPECTATIONS IDENTIFIED           ISSUES & EXPECTATIONS IDENTIFIED                ISSUES & EXPECTATIONS IDENTIFIED
• Offers accessible to all                        • Empowering work organisation                  • Transparency, reliability and clarity          • Sustainable and balanced relationships   • Respecting regulations                        • Financing the economy
• Innovation and efficiency                       • Strengthened training and support               of information                                 • Respect for the interests of suppliers   • Compliance                                    • Transparency and ongoing dialogue
• Excellence in financial advice and services     • Amplified diversity policy                    • Profitability                                  • Financial equity (payment terms)         • Transparency                                  • Local coverage in the regions
• Ease of use, personalisation and availability   • Quality social dialogue                       • Responsible governance                         • Steering of supplier relations                                                           • Positive impact on the environment
• Value-added pricing                             • Compensation and benefits                     • Risk management                                 and development of mediation                                                               and society

• Secure payment instruments                                                                                                                       • Developing inclusive purchases                                                           • Supporting inclusion

• Data security and confidentiality

 OUR ANSWERS                                       OUR ANSWERS                                     OUR ANSWERS                                      OUR ANSWERS                                OUR ANSWERS                                     OUR ANSWERS
• Offers adapted to all, from entry-level         • Agreement/Charter of telecommuting            • Investor roadshows and conferences             • Establishment of commercial or capital   • Publication of results and press releases     • Climate strategy and gradual exit from coal
     products to wealth management                 within the entities                            • Governance and ESG roadshows                    partnerships                              • Publication of a Universal Registration       • Steering toward a more sustainable economy
• Partner of choice for large corporates          • 2,313,929 hours of training completed         • Publication of results, Universal              • Charter of responsible purchasing         Document                                        (ESG approach)
     and institutions                             • 18 gender diversity networks within Crédit      Registration Document, Integrated Report,       integrated in calls for tenders           • Publication of the fourth Integrated Report   • Adherence to the Principles for Responsible
• Monitoring satisfaction with                     Agricole S.A. and its subsidiaries, of which     Shareholder’s Guide                            • Supplier Relationship and Responsible                                                     Banking
     the Net Promoter Score                        8 are in France and 10 abroad, accounting      • Toll-free number for individual shareholders    Purchasing Label                                                                          • Support for culture, sport and solidarity
• 100% human 100% digital accessibility            for more than 2,600 members, of which                                                           • “Responsible purchasing” e-learning                                                       with sports sponsorship, and the “Sport as
                                                                                                  • Balanced distribution policy
• Support toward sustainable economic              almost 20% are men                                                                               training                                                                                   a school of life program”
     and social models                            • Signing of an International Framework                                                          • Integration of CSR performance                                                           • Program for 300 students (14 to 15 years
• Steering of actions to improve excellence in     Agreement, providing a common social                                                             of suppliers                                                                               of age) from priority education areas for their
     customer relations (Customer Champions,       foundation for all employees                                                                                                                                                                workplace internship
                                                                                                                                                   • Action on payment terms
     Academy for Excellence in customer           • Capital increases reserved for employees                                                                                                                                                  • Fondation Grameen Crédit Agricole
                                                                                                                                                   • Annual Supplier Survey
     relations, customer survey process)                                                                                                                                                                                                       for the economic development of rural areas
                                                                                                                                                   • Third edition of CSR dedicated
• Development of e-marketing                                                                                                                                                                                                                   in emerging countries
                                                                                                                                                    Supplier Meetings
     and analytical models                                                                                                                                                                                                                    • A renewed partnership with Plastic Odyssey
• Steering innovation                                                                                                                                                                                                                          to combat plastic pollution in the oceans

 MAIN SDGS* CONCERNED                              MAIN SDGS* CONCERNED                            MAIN SDGS* CONCERNED                             MAIN SDGS* CONCERNED                       MAIN SDGS* CONCERNED                            MAIN SDGS* CONCERNED

                                                                                                                                                                                                                                              * Sustainable Development Goals.
12                                                                                                                                                                                                                                                                                           13
WORKING EVERY DAY IN THE INTEREST OF OUR CUSTOMERS AND SOCIETY - INTEGRATED REPORT - Liste des ...
CRÉDIT AGRICOLE S.A. — 2019 INTEGRATED REPORT

        CHAPTER 1

                                ADAPTING
                                                                                                      ADAPTING TO BIG CHANGES

                                                                                                 ECONOMIC
                                  TO
                                    MAJOR
                                  CHANGES
                                            A NEW WORLD ORDER

                                            • Erosion of the dynamics of                    Opportunities
                                                                                                                                                             OUR ACTIONS
                                              globalisation, economic fragmentation         • Positions that can be expanded in Asia
                                              and geopolitical tensions                                                                                     – Launch in November 2019
                                                                                            Risks                                                             of a Panda bond issue,
                                            • Deterioration of multilateralism
                                                                                            • Significant market volatility                                   denominated in Chinese yuan,
                                              and challenging of institutions
                                                                                            • Increase in legal risks due to the growing number               to diversify our sources of financing
                                              and international agreements
                                                                                              of regulations
      OUR VALUE                             • Strengthening of regional growth hubs,                                                                          and support the development
                                              with a shift towards Asia                                                                                       of CACIB in China

      CREATION
                                            AN UNCERTAIN FINANCIAL ENVIRONMENT

                                            • Increased volatility of financial variables   Opportunities
                                                                                                                                                             OUR ACTIONS
    Society is undergoing                   • Context of lasting low interest rate          • Development of credit solutions to support people
                                              environment                                     launching new projects                                        – Diversification of our services with
      profound changes                      • Complex market valuation of new risk          • Recomposition of business models                                the creation of non-banking offers
                                              factors (geopolitical, health-related           and differentiation of revenue sources                        – Help to create a business with
     in all its dimensions:                   and non-financial)                                                                                              Jesuisentrepreneur, a complete
                                                                                            Risks
   the political and social                                                                 • Bank balance sheet exposure to the risk of a sharp
                                                                                                                                                              platform created to inspire
                                                                                                                                                              and support entrepreneurs
                                                                                              increase in interest rates
context, ecology, the regions                                                               • Decline in retail banking margins                             – Life insurance: broadening
        and the financial                                                                   • Reduced attractiveness of savings products                      the range of offers in unit-linked
                                                                                                                                                              contracts
                                                                                              and life insurance funds in euros
       environment, etc.;
     all of these changes                   MULTI-FACETED COMPETITION
 challenge the trajectories
                                            • Presence of new players and diverse           Opportunities
                                                                                                                                                             OUR ACTIONS
  of the banking industry                     models (aggregators, FinTech                  • Assertion of our position as a trusted third party
                                              companies, Google, Amazon,                    • Using new technologies and artificial intelligence            – Merger of CACEIS and Santander
  and lead us to respond                      Facebook and Apple, etc.)                       to provide more personalised and effective support            – Strengthening consumer finance
      to new challenges.                    • Steady roll-out of new technologies
                                              that challenge the traditional banking
                                                                                            • Development of commercial and distribution partnerships         partnerships between CACF
                                                                                                                                                              and Banco BPM
                                                                                            Risks
                                              model                                                                                                         – Signature of an insurance partnership
                                                                                            • Eroding revenues and market share
                                            • Growing number of participants
                                                                                            • Disintermediation (customer relationship, payments,             between CAA and Abanca in Spain
                                              in the value chain
                                                                                              data, etc.)
                                            • New fee models, such as freemium
                                                                                            • Decoupling of offerings and limited opportunities
                                              and low-cost offers, that increase
                                                                                              for cross-selling
                                              pricing pressure
                                                                                            • Difficult development in relation to FinTech companies

                                            SUSTAINED REGULATORY REQUIREMENTS

                                            • Stronger protection for customers             Opportunities
                                                                                                                                                             OUR ACTIONS
                                              and investors                                 • Confirmation of our role as provider of financing
                                            • Fight against money laundering                  to the economy                                                – €310.9bn assets under
                                              and financing of terrorism                    • Continuous improvement in the Group’s processes                 management using ESG criteria
                                            • Multiple regulatory authorities                 and ethical framework                                         – Signature of the Principles
                                              and tighter prudential rules                  • Continued management of new risks                               for Responsible Banking
                                            • Transparency requirement
                                                                                            Risks
                                            • Taking into account climate
                                                                                            • Higher capital requirements and stricter liquidity
                                              and ESG risks
                                                                                              management
                                                                                            • Increase in compliance and operating costs (HR, IT, etc.)
                                                                                            • Distorted competition with new, less-regulated players

 14                                                                                                                                                                                                   15
WORKING EVERY DAY IN THE INTEREST OF OUR CUSTOMERS AND SOCIETY - INTEGRATED REPORT - Liste des ...
Our value creation                                                                                                                                                                                                                                                                CRÉDIT AGRICOLE S.A. — 2019 INTEGRATED REPORT

                                                               ADAPTING TO BIG CHANGES                                                                                                                                        ADAPTING TO BIG CHANGES

                                                             SOCIETAL                                                                                                                                         ENVIRONMENTAL
NEW CUSTOMER BEHAVIOURS AND NEW TECHNOLOGIES

• Search for immediacy, fluidity                  Opportunities                                                               OUR ACTIONS
  and ease                                        • Positioning as a truly multi-channel bank with a tightly
• Desire for personalisation,                       woven regional presence                                                  – Globe Trotter offer from Regional
  responsiveness and advice                       • Diverse range of expertise and services offered to                         Banks for the 18-to-30 age group
• Security of personal data                         customers                                                                  offering a no-fee card abroad
  and cybersecurity                               • Information systems performance that enhances                            – Biometric card, available in 2020
• Excellence of tools and services                  cybersecurity and ensures customers’ data is safe                          for contactless payments of over
                                                                                                                               €30 thanks to its digital fingerprint
                                                  Risks                                                                      – A strong new authentication
    MAIN SDGS* CONCERNED                          • Decrease in branch traffic/profitability                                   service for online payments by
                                                  • Failure to move swiftly in adapting internal processes,                    individual customers
                                                    distribution and services

GEOGRAPHIC DIVIDES AND A RISE IN SOCIAL TENSIONS

• Regional divides within countries               Opportunities                                                               OUR ACTIONS
  creating inequality                             • Broad regional coverage through the Group’s different
• Jobs and growth concentrated                      networks                                                                 – Access to essential services
  in urban areas                                  • Development of banking, social and entrepreneurial                         through a network of more
• Loss of purchasing power of                       accessibility                                                              than 8,400 Crédit Agricole and
  the middle class                                                                                                             LCL branches in France,
• Instability of social cohesion                  Risks                                                                        supplemented by 5,900 Relais CA
                                                  • Decline in banking margins in certain geographic areas                     in rural areas
    MAIN SDGS* CONCERNED                                                                                                     – LCL, a partner in the APELS
                                                                                                                               program to promote the
                                                                                                                               integration through sport of young      AN ENVIRONMENTAL IMPERATIVE
                                                                                                                               people with few qualifications
                                                                                                                             – Offers accessible to all                • Global commitment to combat climate       Opportunities
                                                                                                                                                                                                                                                                                         OUR ACTIONS
                                                                                                                               with EKO and LCL Essentiel                change and preserve biodiversity          • Development of investment and financing solutions to
                                                                                                                                                                       • Growing number of regulatory and            support institutional customers, corporates, SMEs and              – Definition of our climate
                                                                                                                                                                         fiscal initiatives to reduce greenhouse     small businesses in adopting a low-carbon trajectory                 strategy in 2019
LIFE’S UNCERTAINTIES                                                                                                                                                     gas emissions                             • Additional products and services to help consumers                 – New offers of
                                                                                                                                                                       • Urgent need to limit the scope of           adapt their behaviors to an economy that consumes                    green mobility and housing loans
• In Western countries:                           Opportunities                                                               OUR ACTIONS                                climate change and adapt behaviours         less energy, in line with the Paris Agreement. These                 to finance low-polluting
– ageing populations                              • Highlighted positioning as a trusted third party that                                                                and business models to the new              include solutions for green mobility, energy efficiency              vehicles or work to achieve
– an increasing dependence                          supports its customers locally, over the long term and                   – Inclusive finance set-ups:                situation, notably in high CO2-emitting     upgrades and specific insurance                                      energy savings
– a diversification of family models and            at all of life’s milestones: education, first job, marriage,               Points Passerelle to support              business sectors such as energy,          • Financial innovation to address the new business                     in one’s housing
  types of employment                               business creation, retirement, etc.                                        customers in financial difficulty         transport, building and public works,       models
                                                                                                                               and prevent over-indebtedness                                                                                                                            – Continued issuance of Green
• Unexpected events and more variable                                                                                                                                    and farming
                                                                                                                               at CACF and LCL                                                                     Risks                                                                  bonds in 2019:
  career and life paths                           Risks
                                                                                                                                                                                                                   • Higher costs and economic losses due to the
                                                                                                                                                                                                                                                                                          > €1bn by Crédit Agricole S.A.
                                                  • Perceived lack of support from the bank                                  – First Internship/first Job System:       MAIN SDGS* CONCERNED
    MAIN SDGS* CONCERNED                                                                                                                                                                                                                                                                  > €1,25bn by Crédit Agricole Home
                                                  • Higher credit/delinquency risk                                             contribution to the employment                                                        consequences of climate change, both directly,
                                                                                                                                                                                                                                                                                            Loan SFH*
                                                  • Incomplete risk assessment models                                          of young people by connecting                                                         related to bank transactions, and indirectly, related to
                                                                                                                               them with the companies that are                                                      customers’ activities
                                                                                                                               recruiting                                                                          • Uncertainty over the nature and timetable of the
                                                                                                                                                                                                                     unavoidable transition to a low-carbon economy
                                                                                                                                                                                                                   • Delays in the deployment of offers in relation
                                                                                                                                                                                                                     to customer needs

               In 2015, the United Nations Member States adopted the 2030 Agenda for Sustainable Development and its 17 Sustainable
               Development Goals (SDGs), which provide a blueprint for achieving a better and more sustainable future for all. The SDGs address                                                                                                                                 * Housing financing company (Société de financement
               major global challenges related to poverty, inequality, climate change, environmental deterioration, prosperity, peace and justice.                                                                                                                              de l’habitat) of Crédit Agricole Group.

16                                                                                                                                                                                                                                                                                                                                    17
WORKING EVERY DAY IN THE INTEREST OF OUR CUSTOMERS AND SOCIETY - INTEGRATED REPORT - Liste des ...
Perspective stable
                                                                                                                                                                                                                                                                                                       A+
                                                                                                                                                                                                                                                                                                      A+              Persp
Our value creation                                                                                                                                                                                                                                                                    Perspective stable
                                                                                                                                                                                                                                                                   CRÉDIT AGRICOLE S.A. — 2019 INTEGRATED REPORT
                                                                                                                                                                                                                                                                                                                         Pe
                                                                                                                                                                                                                                                                                   Perspective stable                Persp

                                                                                                                                                                                                                                                                                                      A+
                                                                                                                                                                                                                                                                                  NOTATIONS EXTRA-FINAN
CRÉDIT AGRICOLE’S
                                                                                                                                                                       FINANCIAL RATINGS
                                                                                                                                                                       AT 01/03/2020
                                                                                                                                                                                                                                        NON-FINANCIAL RATINGS
                                                                                                                                                                                                                                        AT 01/03/2020                               Perspective stableA+AU 01/03/2019   Per

                                                                                                                                                                                                                                                                                   Perspective stable                   Pers
STRENGTHS                                                                                                                                                                                   A+       Stable outlook                                           A                 NOTATIONS EXTRA-FINAN         A
                                                                                                                                                                                                             NOTATIONS FINANCIÈRES                                             NOTATIONS EXTRA-FINANC
                                                                                                                                                                                                                                                                                                              AU 01/03/2019
                                                                                                                                                                                           AA3 Stable outlook NOTATIONS  FINANCIÈRES
                                                                                                                                                                                                                     AU 01/03/2019   63                                                                   AU 01/03/2019
                                                                                                                                                                                                              NOTATIONS
                                                                                                                                                                                                                      AU FINANCIÈRES
                                                                                                                                                                                                                                                                                                         AC
                                                                                                                                                                                                                         01/03/2019
                                                                                                                                                                                                              NOTATIONS
                                                                                                                                                                                                                      AU FINANCIÈRES
                                                                                                                                                                                                                                  A+                                    A1
                                                                                                                                                                                                                         01/03/2019
In an environment facing deep changes, and a banking sector under
                                                                                                                                                                                                                                                                                                         A
                                                                                                                                                                                            A+       Stable outlook                 Prime
                                                                                                                                                                                                                                       AU 01/03/2019
regulatory and competitive pressures, Crédit Agricole has major assets
                                                                                                                                                                                                                                   A+                                    A1
in terms of stability and solidity, the backbone of which is its Raison d’Être.                                                                                                             AA                   Perspective
                                                                                                                                                                                                     Stable outlook               A+
                                                                                                                                                                                                                                  stable           Perspective positive
                                                                                                                                                                                                                                                         Referenced
                                                                                                                                                                                                                                                                         A1
                                                                                                                                                                                                                                  A+                                     A1
                                                                                                                                                                                            (Low)
                                                                                                                                                                                                                 Perspective stable                    Perspective positive
                                                                                                                                                                                                                 Perspective stable                    Perspective positive
                                                                                                                                                                                                                                                                        AA                               C
                                                                                                                                                                                                                                  A+
                                                                                                                                                                                                                 Perspective stable                    Perspective positive
                                                                                                                                                                                                                                                                         AA                              C
                                                                                                                                                                                                                                   A+
                                                                                                                                                                                                                                  C R É D I T A G R I C O L E S.A. – R A P P(Low)

                                                                                                                                                                                                                                                                        AA
                                                                                                                                                                                                                                                                             O R T I N T É G R É 2018 -2019

                                                                                                                                                                                                                Perspective stable
                                                                                                                                                                                                                                  A+                                  (Low)
                                                                                                                                                                                                                                                        Perspective stable
                                                                                                                                                                                                                                                                        AA
                                     A COOPERATIVE AND
                                     MUTUALIST IDENTITY
                                                                                         This diversified business model ensures
                                                                                         secure and sustainable revenue develop-
                                                                                                                                                   managed assets portfolios for the benefit of
                                                                                                                                                   the energy transition. Crédit Agricole was the
                                                                                                                                                                                                              Perspective stable
                                                                                                                                                                                                              Perspective stable
                                                                                                                                                                                                                                  A+               Perspective stable
                                                                                                                                                                                                                                                   Perspective stable
                                                                                                                                                                                                                                                                       (Low)
                                                                                                                                                                                                                                                                      (Low)

                                                                                         ment and provides long-term organic growth                world’s first commercial bank to announce                NOTATIONS
                                                                                                                                                                                                              PerspectiveEXTRA-FINANCIÈRES
                                                                                                                                                                                                                           stable
                                                                                                                                                                                                                        C R É D I T A G R I C O L E S.A. – R A P P O Rstable
                                                                                                                                                                                                                                                  Perspective           T INTÉGRÉ          2018 -2019
                                     More than 10 million mutual shareholders            capacity for the Group.                                   the exit from thermal coal financing in 2030 in           NOTATIONS EXTRA-FINANCIÈRES
                                                                                                                                                                                                                             AU 01/03/2019
Nearly 30,000
                                     form the basis of the cooperative organisa-                                                                   the EU and the OECD and in 2040 in the rest
                                                                                                                                                                                                             NOTATIONS
                                                                                                                                                                                                                                       AWARDS & PRIZES
                                                                                                                                                                                                                          EXTRA-FINANCIÈRES
                                                                                                                                                                                                                     C R É D I TAU
                                                                                                                                                                                                                                 A G01/03/2019
                                                                                                                                                                                                                                     R I C O L E S.A. – R A P P O R T
                                                                                                                                                                                                                                                   I N T É G R É 2018 -2019
                                     tion of Crédit Agricole and make it the world’s     A WIDE TERRITORIAL NETWORK                                of the world.
directors                                                                                                                                                                                                    NOTATIONS EXTRA-FINANCIÈRES
                                                                                                                                                                                                                                    A                                   62
                                                                                                                                                                                                                               AU 01/03/2019

                                                                                                                                                                                                                                                                          No.1
                                     largest cooperative and mutualist group.
who bring their expectations                                                                                                                                                                                                           AU 01/03/2019
to the heart of the Group
                                                                                         As close as possible to its customers, Crédit             FINANCIAL STRENGTH
                                                                                                                                                   AND MUTUAL GUARANTEE                                                  Upgrade of  A                                   62
                                                                                                                                                                                                                                    A                                    62
                                     The mutual shareholders own the capital of          Agricole relies on a regional foothold and a
                                     the 2,417 Local Banks in the form of mutual         territorial network covering rural areas, urban                                                                                the long-term                                 financial company
PRESENT
IN 47 COUNTRIES
                                     shares; these Local Banks in turn hold the
                                     capital of the 39 Regional Banks.
                                                                                         centres and large cities, to be accessible to
                                                                                         all.
                                                                                                                                                   In terms of solvency, Crédit Agricole Group
                                                                                                                                                   ranks with the best-in-class among compa-
                                                                                                                                                                                                                          by Moody’s
                                                                                                                                                                                                                                    A
                                                                                                                                                                                                                        credit rating*                                in62
                                                                                                                                                                                                                                                                         France in terms
                                                                                                                                                                                                                                                                          of diversity
                                     According to the democratic vote “1 person
                                                                                         SOCIAL AND ENVIRONMENTAL
                                                                                                                                                   rable European banks, with a CET1 ratio of
                                                                                                                                                                                                                                    C
                                                                                                                                                                                                                             * Regional Banks,                          Prime to the Financial Times
                                                                                                                                                                                                                                                                       according

                                                                                                                                                                                                                                    C
                                     = 1 vote”, each mutual shareholder has the                                                                    15.9% at 31 December 2019. This greatly                            Crédit Agricole S.A. and CACIB                    Diversity Leaders 2020 ranking
                                     same weight in voting in Local Bank Annual          COMMITMENTS                                               exceeds the minimum regulatory requirement                                                                            Prime
                                     General Meetings, regardless of the amount                                                                    of 9.7 % at 31/12/2019.
                                                                                                                                                                                                                                    C                                    Prime
                                     of mutual shares held.
                                     Nearly 30,000 directors elected each year
                                                                                         Crédit Agricole Group, with the will to inscribe
                                                                                         its societal utility natively in all of its activities,   In accordance with the French Monetary                                           C                                    Prime
In France, with close to             bring their expectations within the Group’s         business lines and processes, has developed               and Financial Code, Crédit Agricole S.A. is
                                                                                                                                                                                                                                             CACIB                             AMUNDI
8,400 branches                       bodies, and ensure good knowledge and               its Group Project and 2022 Medium-Term                    responsible for taking all the necessary meas-
                                                                                                                                                                                                                                                                           2019 PRI Award
of Crédit Agricole and LCL           consideration of customer needs.                    Plan on the backbone of its Raison d’être.                ures to ensure
                                                                                                                                                               C R Éthe
                                                                                                                                                                     D I T liquidity
                                                                                                                                                                             A G R I C and
                                                                                                                                                                                       O L E solvency    P P O R T I N T É G R É 2019
                                                                                                                                                                                              S.A. – R Aof                        2 0 1 8 - Global
                                                                                                                                                                                                                                            2019   Capital
                                     The pooling of these experiences is the heart                                                                 each member of the Crédit Agricole network                                            SRI Awards
                                                                                                                                                                  C R É D I T A G R I C O L E S.A. – R A P P O R T I N T É G R É 2 0 1 8 - 2 0 1 9                   “Real World Impact
                                     of the mutualist model, which promotes cus-         The Group wishes to strengthen its coop-                  and of its affiliated members, chief among                         Best worldwide
                                                                                                                                                                  C R É D I T A G R I C O L E S.A. – R A P P O R T I N T É G R É 2 0 1 8 - 2 0 1 9
                                                                                                                                                                                                                                                                    Initiative of the Year”
                                     tomer-focused action.                               erative footprint by consolidating the “living            them the Regional     Banks and Crédit Agricole
                                                                                         together” aspect of the regions and promot-                             C RÉDIT AG
                                                                                                                                                   Corporate Investment           R I C O(CIB).
                                                                                                                                                                                 Bank      L E S.A.Crédit             Green/SRI bank
                                                                                                                                                                                                     – R A P P O R T I N T É G R É 2018 -2019
                                                                                                                                                                                                                                                                   for the Amundi Planet Emerging
                                                                                                                                                                                                                        of the year                                         Green One fund
                                     A UNIVERSAL AND                                     ing solidarity and inclusive actions. All Group           Agricole S.A. also acts as the central body
                                     CUSTOMER-FOCUSED MODEL                              entities have committed to promoting inclu-               for the Regional Banks and in this capacity
                                                                                         sion with entry-level offers, working against             can intervene when refinancing is necessary.
                                     Thanks to its resilient universal banking           over-indebtedness and encouraging entre-                  In addition, the Regional Banks guarantee all
In Italy, with close to              model, Crédit Agricole makes a comprehen-           preneurship.                                              of Crédit Agricole S.A.’s obligations towards
1,000 branches                       sive range of banking, specialised financial                                                                  third party creditors under an agreement                                                       CRÉDIT AGRICOLE ASSURANCES

                                                                                                                                                                                                                                                 93%
                                     and insurance services available to all its indi-   A world leader in green bonds, a pioneer in               on a joint and several basis, and they also
                                     vidual customers, farmers, SMEs and small           climate finance, Crédit Agricole is convinced             cross-guarantee each other in the event of an
                                     businesses, large corporates and institutions.      of the urgency of decarbonising the economy               asset shortfall at Crédit Agricole S.A. in the
                                                                                         while preserving value creation. In order to              course of its bankruptcy or dissolution.                                             customer satisfaction
                                     With the deployment of new business or cap-         strengthen its action and commitments to
                                     ital partnerships, and the increase in collab-      the energy transition, in 2019 Crédit Agricole                                                                                                  in non-life insurance
                                     orations between its subsidiaries, the Group        adopted a proactive Group climate strategy,                                                                                               Source “Baromètre sinistres Pacifica 2018-IARD –
In other countries, with more than                                                                                                                                                                                                    a study conducted by Kantar TNS in 2019”
                                     is strengthening its expertise in France and        aligned with the Paris Agreement, applied
1,000 branches                       internationally to meet the expectations and        by all its entities, which allows for a gradual
                                     needs of its customers.                             reallocation of its financing, investment and

18                                                                                                                                                                                                                                                                                                              19
Our value creation                                                                                                                                                                                                     CRÉDIT AGRICOLE S.A. — 2019 INTEGRATED REPORT

TO BE A PLAYER
                                                                                                                                                                         “Working every day in the interest of our
IN A SUSTAINABLE SOCIETY                                                                                                                                                 customers and society” is our Raison d’Être.

                                                                                                                                                                                    CUSTOMERS

      OUR DNA             OUR TALENTS         OUR                                                                                                                                   • #1 provider of financing to the French economy
                                              GOVERNANCE                                                                                                                              (€650bn loans outstanding in retail banking)
      A mutualist                                                                                          SUPPORTING      PROVIDING
      and cooperative
                         142,000              A solid majority                                          AND ADVISING       FINANCING,
                                                                                                                                                                                    • #1 European asset manager
                                                                                                                                                                                      (€1,653bn assets under management)
      group at           employees            shareholder                                              OUR CUSTOMERS       SAVINGS AND
                         of Crédit Agricole                                                                                                                                         • #1 insurer in France
      the service                             ensuring a                                                 DURING THEIR      INSURANCE
      of everyone.       Group.               long-term                                                  LIFE MOMENTS      SOLUTIONS
                                              commitment.
                                                                                                                                                                                                   SHAREHOLDERS AND INVESTORS

                                                                                                                                                                                                  • Crédit Agricole Group revenues: €33.8bn (1)
                                                                                                                                                                                                  • Crédit Agricole S.A.market capitalisation: €37.2bn
                                                                                                                                                                                                  • Crédit Agricole S.A.net income: €4.6bn (2)
   OUR                                                                                                                                                                     OUR                    • Payout to shareholders: €2.0bn (3)
                                                                              OUR                                                                                         VALUE
RESOURCES                                                                  BUSINESSES                                                                                    CREATION
                                                                                                               CRAFTING    PROPOSING
                                                                                                             INVESTMENT    COMPLEMENTARY                                                                    EMPLOYEES (4)
                                                                                                              SOLUTIONS    FINANCIAL SERVICES                                                              • ERI survey: 77% participation rate
           OUR GEOGRAPHIC                     OUR CAPITAL                                                                  Payment services, real estate, etc.
           FOOTPRINT                                                                                                                                                                                       • 11,101internal mobilities worldwide
                                              Shareholder’s Equity                                                                                                                                         • 6,181 hired on permanent contracts
           In France:                         Group Share:
           • 39 Regional Banks, LCL           • Group: €115.0bn
             and BforBank                     • Crédit Agricole S.A.:                                                                                                                              FOR PUBLIC AUTHORITIES
           • 8,400 retail banking              €62.9bn                                                                                                                                             AND PARTNERS
             branches
                                                                                                                                                                                                  • Group purchases: €7.5bn (5)
           Abroad:                                                                                                                                                                                • Group taxes and social security
           • 47 countries                                                                                                                                                                           expenses: €7.1bn (6)
           • 52% of Crédit Agricole S.A.
             employees
                                                                                 OUR FOUNDATION                                                                                     FOR CIVIL SOCIETY AND THE ENVIROMENT
                                              OUR MULTI-                         THE REGIONAL BANKS
                                              PARTNERSHIP                                                                                                                           • World’s leading bookrunner for green bond issues (7)
                                              MODEL                                                                                                                                 • Green financing portfolio: €7.1bn
                                                                                                                                                                                    • Social and solidarity-based impact funds: €256m
           OUR TECHNOLOGICAL                  An organic growth model                                                                                                               • Over 147,000 subscriptions to bottom-of-the-range
           CAPITAL                            reinforced by external                                                                                                                  offers (mainly Eko and LCL Essentiel)
                                              expertise and distribution           SOLID COMMITMENTS                                   OUR 3 STRATEGIC PILLARS
           A single centre of IT expertise    partnerships in France                                                                                                                 2019 data. (1) Underlying revenues. (2) Underlying net income Group share.
           serving all of the Group’s         and abroad.                                                                                                                            (3) Distribution planned for the 2019 reporting period-end, cancelled by
           business lines.                                                  • Utility at the service of everyone                                                                     the Board of Directors on 1 April 2020, following the recommendation
                                                                                                                                                Excellence in customer               of the ECB. (4) Crédit Agricole S.A. scope. (5) External expenses.
                                                                            • A sound and diverse range of expertise
                                                                                                                                                                                     (6) Excl. the impact of Emporiki. (7) Source: Bloomberg.
                                                                            • Protecting our customers’ interests                               relations
                                                                              and assets
                                                                            • Human responsibility at the heart
                                                                              of our model                                                      Empowered
                                                                            • Supporting the economy and social                                 teams
                                                                              cohesion
                                                                            • Supporting the transition to other sources                        Commitment to society
                                                                              of energy

20                                                                                                                                                                                                                                                                21
Our value creation                                                                                                                                                                                                                                                                               CRÉDIT AGRICOLE S.A. — 2019 INTEGRATED REPORT

MAKING OUR DIRECT
CONTRIBUTION TO SOCIETY

                REVENUES                                                      REDISTRIBUTIONS OF FINANCIAL FLOWS                               SOCIETAL IMPACTS                                                                                                      NET INCOME GROUP SHARE
            STATED REVENUES          (1)
                                                                                                                                                                                                                                                                   REVENUES – TOTAL REDISTRIBUTIONS
                                                                                                                                               For Crédit Agricole S.A.                                                                                       = STATED RESULTS (NET INCOME GROUP SHARE)
                                                                          .
                                                      UP            S.A
                                                 RO            CA
                                                                                                                                               73,000 employees

                                             G
                                                  29%    28%                   EMPLOYEES AND SOCIAL PROTECTION                                 including 53.4% women,                                                                                                                                            SHARE OF RETAINED
                                                 €9,589 €5,647                 = Gross salaries, incentive plans, profit sharing and amounts   1,876 work-study participants                                                                                                                                     INCOME
                                                           m          m
              18%                                                              allocated to employee pensions.                                 and 1,251 trainees
                                                                                                                                               are among the average monthly                                                                                                                          83%       Crédit Agricole Group:
                                       57%                                                                                                     workforce in France.                                                                                                                                             allows the Group to
                  CRÉDIT AGRICOLE                                                                                                                                                                                                                                                                               support its host regions’
                      GROUP                                                                                                                                                                                                                                RESULTS FOR                                          development and strengthen
                                                                                                                                                                                                                             TOTAL                                                                              its capital structure.
     17%    €33,297m                                                                                                                           1,684 suppliers of Crédit Agricole S.A.
                                                                                                                                                                                                                        REDISTRIBUTIONS
                                                                                                                                                                                                                            GROUP
                                                                                                                                                                                                                                                            THE GROUP
                                                                                                                                                                                                                                                                                                      49%       Crédit Agricole S.A.:
                                                                                                                                               had an EcoVadis score (3) at 31 December
                                                                                                                                                                                                                                                               22%                                              reflects a commitment to
                                                                                                                                                                                                                           €26,099m
                                                                               EXTERNAL SERVICE PROVIDERS
                                                                               = External and operating expenses.
                                                                                                                                               2019, and 596 are being assessed, i.e. 59%                                                                  €7,198m                                              strengthening its capital
                                                                                                                                                                                                                                                                                                                structure while maintaining
             8%                                                                                                                                of suppliers approached. The volume of
                                                                               Crédit Agricole is one of France’s leading contract givers.                                                                                                                                                                      an attractive payout rate for
                                                                                                                                               purchases entrusted to the sheltered and
                                                  18%           19%                                                                                                                                                                                                                                             all investors.
                                                                                                                                               disability-friendly sector represents €5.3m.(4)
                                                                               Volume of purchasing from VSBs/SMEs in 2019: €1.8bn (2).
                                                 €6,217        €3,749
                                                           m          m                                                                        Corporate philanthropy activities
                                                                                                                                               in the areas of fight against poverty                                                                                                                            SHAREHOLDERS
                                                                               PATRONAGE                                                       and exclusion, support for cultural initiatives                                                                                                                  & MUTUAL
     BUSINESS LINES’ CONTRIBUTION                                              €29.6m of expenses subject to a tax                             and environmental protection.
                                                                                                                                                                                                                                                                                                                SHAREHOLDERS
                                                                               deduction (5) for Crédit Agricole Group.                        Crédit Agricole S.A. is notably a partner of
                   Retail Banking                                                                                                              the National Museum of Natural History to                                                                 RESULTS FOR                                 €1,114
                                                                                                                                                                                                                             TOTAL                                                                         m    Crédit Agricole Group:
           Specialised Financial Services                                                                                                      support scientific research on biodiversity.                                                           CRÉDIT AGRICOLE S.A.                                      estimated total amount of
                                                                                                                                                                                                                        REDISTRIBUTIONS
                 Large customers                                                                                                                                                                                                                                                                                interest to be paid to mutual
                  Asset Gathering                                                                                                                                                                                           CA S.A.                              24%                                            shareholders, and dividends
                                                                                                                                                                                                                           €15,309m
                                                                                                                                                                                                                                                           €4,844m                                              to be paid to holders of CCA
                                                                                                                                                                                                                                                                                                                and CCI certificates and
                                                                               PUBLIC AUTHORITIES
                                                  18%           14%            = Corporate income tax, other taxes and duties (6), employer    Crédit Agricole is a major tax contributor                                                                                                                       Crédit Agricole S.A.(7) holders
                                                                               contributions and payroll taxes. Does not include the cost of   in France with an income tax charge of                                                                                                                           of non-controlling interest.
                                                 €6,018        €2,774
                                                           m          m        non-recoverable VAT incurred by the Group.                      €1,736m in 2019.                                                                                                                                     €2,019      Crédit Agricole S.A.:
                                                                                                                                                                                                                                                                                                           m    estimated amount of
       29%                            31%                                                                                                                                                                                                                                                                       dividends to be paid to its
                                                                                                                                                                                                                                                                                                                shareholders, excluding
              CRÉDIT AGRICOLE S.A.                                                                                                                                                                                                                                                                              Crédit Agricole Group (8):
                                                                               COST OF RISK                                                                                                                                                                                                                     €890m.
                                                                                                                                               For Crédit Agricole S.A., the cost of credit
            €20,153m                              5%            6%             = New provisions and reversals for all risks during
                                                                               the financial year, as well as the corresponding losses
                                                                                                                                               risk recorded a gradual return to a normal
                                                 €1,757        €1,256                                                                          level with an increase of +25.5%/–€254m
                                                           m          m        not covered by provisions.                                      compared with 2018 at –€1,256m.
                                    13%                                                                                                        It reflects the bank’s ability to deliver
                                                                                                                                               responsible lending solutions for each type
                27%
                                                                                                                                               of customer: €650bn in loans outstanding
                                                                               MINORITY INTERESTS                                              (French Retail banking).
                                                                               = Share of the net income of subsidiaries controlled
                                                       2%        3%            by Crédit Agricole (less than 100%) attributable to holders
                                                 €506m          €614m          of non-controlling interests.

                                                                                                                                               The percentages on this page have been rounded.
                                                                                                                                               (1) Revenue breakdown in percent by business line excluding the Corporate Centre.
                                                                               OTHER                                                           (2) Entrusted by Crédit Agricole Group.
                                                                                                                                               (3) EcoVadis is an independent third party specialised in assessing suppliers’ CSR performance. Data at 31 December 2019.
                                                  6%             6%            = Depreciation and amortisation, share of net income            (4) France scope of Crédit Agricole S.A.
                                                 €2,012         €1,269         of equity-accounted companies, changes in the value             (5) In accordance with France’s Act no. 2003-709 of 1 August 2003 Data at 14/02/2020.
                                                           m          m        of goodwill and gains or losses on other assets.                (6) Excluding provisions for tax disputes and expense transfers. Excluding tax surcharge.
                                                                                                                                               (7) Subject to approval by shareholders at the Annual General Meetings of the Local Banks, Regional Banks and Crédit Agricole S.A.
                                                                                                                                               (8) Distribution planned for the 2019 reporting period-end, cancelled by the Board of Directors on 1 April 2020, following the recommendation of the ECB.

22                                                                                                                                                                                                                                                                                                                                            23
CRÉDIT AGRICOLE S.A. — 2019 INTEGRATED REPORT

         CHAPTER 2

                                  2022 FINANCIAL TARGETS

 GROUP PROJECT
      AND
                                  >€5bn
                                  Growth in Crédit Agricole S.A.’s net income
                                                                                                                                 OUR STRATEGY:
MEDIUM-TERM PLAN
                                                                                                                 ACCELERATE
   2022
                                  PROFITABILITY              > 11%

                                                                                                                   AND
                                                                                                                       AMPLIFY
                                  for return on equity (1)

                                        STRENGTH
                                  With a capital ratio(2) of 11%
                                  for Crédit Agricole S.A. and 16%
                                  for the Group
    An ambitious new joint
project based on three pillars
                                        SECURITY
                                                                                                                                                  ER                     H
        of development.

                                                                                                                                     C U ST O M

                                                                                                                                                                          UM
                                  Net income secured by diversified mix
                                                                                                                                                    OUR
 Our ambition is to be useful
                                  of revenues and an annual growth of                                                                          RAISON D’ÊTRE:

                                                                                                                                                                             A
  to all, which is why we put     +2,5%

                                                                                                                                                                                N
                                                                                                                                            WORKING EVERY DAY
     human responsibility,                                                                                                                    IN THE INTEREST
    commitment to society,                                                                                                                  OF OUR CUSTOMERS
                                                                                                               Excellence in                                                       Empowered teams
 and excellence in customer                                                                                                                    AND SOCIETY                           for customers
                                  100% HUMAN, 100 % DIGITAL                                                  customer relations
     relations at the heart                                                                                                                                                            Increase individual
                                                                                                               Be the favourite
          of our model.                                                                                                                                                            responsibility in customer
                                                                                                              bank of individuals,
                                                                                                                                                      SO
                                                                                                                                                         CIETAL
                                  Through a unique relational model, the Group
                                                                                                                entrepreneurs                                                   relationships in a strengthened
                                  aims to bring real added value to its customers
                                  by investing in new technologies to be at the                                and corporates.                                                      trust-building framework.
                                  forefront of digital, and to be human-centric                                        —                                                                        —
                                  through empowered relationship management.

                                  THREE LEVERS OF SUCCESS
                                                                                                                                                       Commitment
                                      Growth on all                Synergy              Technological
                                                                                                                                                        to society
                                      our markets                of revenues           transformation                                                Continue our mutualist
                                                                                                                                                    and societal commitment
                                                                                                                                                  and be the European leader
                                       No.1                     €10bn                   €15bn                                                      in responsible investment.
                                 in customer acquisition             in 2022        allocated over 4 years                                                     —

                                  (1) RoTE. (2) CET1.

                                                                                                                                                                                                                                  25
Group Project and 2022 Medium-Term Plan

                CUSTOMER PROJECT                                                                            OUR 2022 TARGET NUMBERS

                EXCELLENCE IN CUSTOMER                                                                      No.1 in NPS
                RELATIONS AT THE HEART OF
                                                                                                            (retail banks in France)
                                                                                                                                                                                   They are available and listen
                                                                                                            1 million                                                              to our concerns, they are very
                OUR ORGANISATION                                                                            additional customers in France and Italy
                                                                                                            in net new customers
                                                                                                                                                                                   accessible; I’ve been with
                                                                                                                                                                                   Crédit Agricole for a long time
                                                                                                                                                                                   now, there is a relationship
                                                                                                            +20pt         in digital                                               of trust, they know us well.”
                                                                                                            use rate by 2022
                                                                                                                                                                                   Extract from the 2019 NPS survey

                                          1
Our new Customer Project                  AMBITION   COLLECTIVELY MANAGING
reaffirms the place we give                          EXCELLENCE IN CUSTOMER
it within the Group. Our ambition                    RELATIONS
                                                                                                            OUR ACHIEVEMENTS
is to become the preferred bank                      • By mobilising all business lines around
in France in all customer                              one goal: customer satisfaction
                                                                                                            CUSTOMER SUPPORT                                                  DIGITAL AND INNOVATIONS
segments.                                            • By driving this goal at the highest level by using
                                                       the Net Promoter Score (NPS) in the assessment       • Thanks to the EKO offers of the Regional Banks                  • The “Ma Banque” app of the Regional Banks exceeded
                                                       of employees, managers and senior executives          and LCL Essentiel offering banking services                        5.1 million users in 2019 – “LCL Mes comptes” was voted
 HOW?
                                                     • By installing a zero-defect culture                   at €2/month to individual customers, the Group obtained            Best Banking App for the third consecutive year*
Through the collective                                 and implementing a system to target pain points       more than 147,000 subscriptions
                                                                                                                                                                              • Crédit Agricole Group ranks second among retail banks in
mobilisation of the entire                                                                                  • Crédit Agricole offers, and LCL will soon offer, Trajectoires    France on digital performance by the D-Rating rating agency
Group around the satisfaction                                                                                Patrimoine, certified and personalised advising-based
                                                                                                                                                                              • On social networks (Facebook, Twitter, Instagram),
                                                                                                             wealth management starting from the 1st euro, supported
of our customers, the further                                                                                                                                                  with almost 1 million subscribers, Crédit Agricole is first

                                          2
                                                                                                             by a new digital tool shared by the customer and the advisor
development of digital services           AMBITION   BECOMING A BEST-IN-CLASS                                                                                                  among French banks in number of fans

and the enhancement of our                           DIGITAL BANK                                           • Due to the historical link between Crédit Agricole
                                                                                                                                                                              • The “Ma Santé” app, from Crédit Agricole Assurances,
                                                                                                             and farmers, loans in this market increased by more
                                                                                                                                                                               offers employees of the policyholder company a set of
banking and non-banking                              • Bringing all our tools and apps to the highest        than 10% in 2019
                                                                                                                                                                               services at each event of their healthcare journey: digitised
                                                       standards across all our markets
services.                                                                                                   • LCL makes its 17,300 employees customer satisfaction             contract management, telemedicine visit, health coaching
                                                     • Being present where our customers are, where          players with the launch of an “I ♥ Mon Client” charter,           programs, etc.
                                                       they need it: e-commerce sites, social networks,      comprising 10 strong commitments
                                                                                                                                                                              • Crédit Agricole continues to support innovation and start-ups
                                                       search engines
                                                                                                            • New positioning of CA Italia closest to its                       with the opening of four new Villages by CA in 2019
                                                     • Capitalising on data to better serve our customers    customers, “la banca al passo con la tua vita”:
                                                                                                             the bank that follows the rhythm of your life                    * 2020 Bank Trophies organised by Meilleurebanque.com.

                                          3
                                          AMBITION   OFFERING CUSTOMERS                                                      NET PROMOTER SCORE (NPS)
                                                     A BROAD RANGE OF BANKING                                 It is measured by subtracting the number of customers
                                                                                                              who are detractors from the number of customers who
                                                     AND NON-BANKING SERVICES                                 are promoters in response to the question “would you
                                                                                                              recommend your main bank to your family, a friend or
                                                                                                                                                                                THE CUSTOMER ACQUISITION STRATEGY
                                                     • Adapting our offerings to new customer
                                                                                                              a colleague?”. It is obtained by means of a survey by an          The Group’s gross acquisition is very dynamic
                                                       behaviours and societal concerns
                                                                                                              independent institute.                                            in France and Italy, with 1,800,000 individual
                                                     • Providing services and utility to customers                                                                              customers and entrepreneurs, and the business
                                                       for a range of needs                                                                                                     fund grew by 370,000 customers in 2019, including
                                                                                                                                                                                280,000 individual customers.

26                                                                                                                                                                                                                                              27
Group Project and 2022 Medium-Term Plan                                                                                                                                                                                 CRÉDIT AGRICOLE S.A. — 2019 INTEGRATED REPORT

                HUMAN-CENTRIC PROJECT                                                                               OUR 2022 TARGET NUMBERS

                ACCOUNTABLE TEAMS HAVE                                                                              Preferred employer in the top
                                                                                                                    in Europe in financial services
                                                                                                                                                           5                                   Even when the system seems to
                                                                                                                                                                                               work properly, we can miss our
                BECOME A NECESSITY                                                                                  100%       of our executives trained in our new
                                                                                                                                                                                               target. With discernment, initiative
                                                                                                                    leadership model                                                           and responsibility, we can avoid
                                                                                                                                                                                               this. It is what is specifically human
                                                                                                                    Engagement and Recommendation
                                                                                                                    Index (ERI): increase in the participation rate
                                                                                                                                                                                               that makes the difference.”
                                                                                                                                                                                               Extract from the 2019 ERI survey

                                          1
                                                                                                                    OUR ACHIEVEMENTS
Our Human-centric Project is,             AMBITION   EMPOWERING TEAMS
de facto, our main lever for us                      WITH A DEEP MANAGEMENT
                                                     TRANSFORMATION                                                 A NEW MANAGEMENT MODEL                                                 AN ORGANISATIONAL TRANSFORMATION
to achieve all of our ambitions.
                                                                                                                    A managerial transformation for more autonomy                          Providing our customers with direct access to an empowered
It focuses on empowered teams                        • Managers who provide a framework of trust and help
                                                                                                                    and engagement:
                                                       their teams move forward through the decision-making                                                                                relationship manager is achieved internally through greater cross-
to provide customers with ongoing                      authority that they take on
                                                                                                                    • Executives who embody the managerial transformation                  functionality and collective agility while at the same time adapting
access to a trained, independent                                                                                    • Entrepreneurial managers who disseminate                             to the digital disruption that is changing the way we work. This
                                                     • Autonomous women and men who foster a new bond                the new codes of conduct                                              simplified organisational structure results in:
point of contact with the authority                    of trust between themselves and the customers.               • Employees who are involved in their careers and                      • a flatter reporting structure
to take action.                                                                                                      who are trained in digital, behavioural and cross-functional skills   • greater responsibility and greater cross-functionality
Our ambition: to become the                                                                                                                                                                • faster decision-making
                                                                                                                    Action

                                          2
                                                                                                                                                                                           • new workspaces and more and more teleworking
preferred employer in the Top 5           AMBITION   TRANSFORMING THE ORGANISATION
                                                                                                                    Crédit Agricole S.A., corporate entity, has built, in partnership
                                                                                                                    with IFCAM, the managerial program “Responsibility, Trust,             Action
in Europe in financial services.                     FOR MAXIMUM RESPONSIVENESS                                     Initiative” for all Crédit Agricole S.A. managers. It aims to          CA Consumer Finance’s continuous “In the customer’s shoes”
                                                                                                                    transform leadership and management to move toward more                improvement approach: the entire management circle
                                                     • An organisation that strengthens individual responsibility
 HOW?                                                                                                               individual and collective responsibility, trust and initiative.        of the Human Development Direction (HD) went to meet with its
                                                     • Delegation of decision-making authority to reduce                                                                                   internal customers through visits to listen to them and gather
By the power of the collective.                                                                                                                                                            feedback.
                                                       bureaucracy
By women and men who are
committed and proud to work                                                                                         A STRENGTHENED FRAMEWORK OF TRUST
for Crédit Agricole.                                                                                                It results in:
                                                                                                                                                                                             LISTENING TO OUR EMPLOYEES

                                          3
By a coherent social pact.                AMBITION   STRENGTHENING THE SOCIAL PACT                                  • Social dialogue built on transparency and partnership
                                                                                                                                                                                             AND ENCOURAGING COMMITMENT
                                                     TO CREATE A FRAMEWORK OF TRUST                                 • Strong commitments in terms of social and gender diversity
                                                                                                                      and integration                                                        Carrying out the fourth campaign on the Engagement
                                                     THAT DRIVES INITIATIVES                                                                                                                 and Recommendation Index (ERI):
                                                                                                                    Action                                                                   This year, the scope included the 20 Crédit Agricole S.A.
                                                     • An amplified social pact for greater trust
                                                                                                                    Crédit Agricole S.A. and UNI Global Union negotiated                     entities in France and abroad, as well as 25 entities in the
                                                       among all stakeholders in the Group
                                                                                                                    an International Framework Agreement at the end of July 2019             Regional Banks scope, i.e. more than 100,000 employees
                                                     • Diversity that mirrors our diverse customer base and         with the aim of providing the same social foundation for all             in 47 countries.
                                                       encourages working as a team and seizing the initiative      Group employees.                                                         The areas that have shown improvement over the past four
                                                                                                                    The agreement includes the establishment of a 16-week paid               years are:
                                                                                                                    maternity leave for all employees of the Group.                          • the growing attachment to Crédit Agricole Group
                                                                                                                                                                                             • the knowledge and understanding of the strategy that builds
                                                                                                                                                                                               trust in our senior executives
                                                                                                                                                                                             • the increased convergence between the scope of the
                                                                                                                                                                                               Regional Banks and that of the entities

                                                                                                                                                                                             Action
                                                                                                                                                                                             The organisation of work, the tools and the means available
                                                                                                                                                                                             to employees are areas for improvement for which action
                                                                                                                                                                                             plans are being implemented.

28                                                                                                                                                                                                                                                                 29
28
You can also read