Credit Agricole S.A.

Credit Agricole is active in the market of retail banking and related businesses. Co. provides day-to-day banking, savings products, mortgage and consumer loans, insurance, private banking, asset management, lease finance and factoring, corporate and investment banking. Its activities can be divided into six business lines: French Retail Banking - Regional Banks; French Retail Banking - LCL; International Retail Banking; Specialized Financial Services; Savings Management and Insurance; and Corporate and Investment Banking. Co.'s customers are personal customers, farmers, small businesses, companies and local authorities. As of Dec 31 2013 Co.'s total assets amounted to Euro1,536,873,000,000.
  • TickerACA
  • ISINFR0000045072
  • ExchangeEuronext Paris
  • SectorBanks
  • CountryFrance

Analysts

Alfred Glaser ...
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Delphine Brault
  • Fehmi Ben Naamane
  • Jean Sassus
  • Matthias Desmarais
  • Olfa Taamallah
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/16/2020

...

Alfred Glaser ...
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Delphine Brault
  • Fehmi Ben Naamane
  • Jean Sassus
  • Matthias Desmarais
  • Olfa Taamallah
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 16/01/2020

...

Jean Sassus ...
  • Steven Gould

Credit Agricole : SWITCH unwinding – stage 1

>Partial dismantling, as expected, of the SWITCH mechanism - CASA announced yesterday evening the unwinding of 35% of the SWITCH guarantee mechanism implemented with the Regional Banks.The SWITCH mechanism corresponds to a transfer to the Regional Banks of part of the regulatory requirements that apply to CASA in its insurance activities (RWA), in return for a fixed remuneration.Key stage with a view to simplification - This move does not come a...

Jean Sassus ...
  • Steven Gould

Crédit Agricole : Démantèlement de SWITCH – étape #1

>Démantèlement partiel, comme prévu, du mécanisme SWITCH - CASA a indiqué hier soir le démantèlement début mars 2020 à hauteur de 35% du mécanisme de garantie ‘SWITCH’ mis en place avec les Caisses Régionales.Pour rappel, le mécanisme ‘SWITCH’ correspond à un transfert vers les Caisses Régionales d’une partie des exigences prudentielles s’appliquant à CASA sur ses activités d’assurance (RWA), et cela modulo une rémunération fixe.Etape clé en vue de l...

Elisabeth Rudman ...
  • Vitaline Yeterian

European Banking: Key Themes in 2020

With prolonged ultra-low interest rates affecting European banks’ revenues, in 2020 it will be key for banks to reduce operating costs further, while maintaining necessary investments in IT, regulatory and compliance requirements. Other key themes that DBRS Morningstar considers important in 2020 include the importance of banks having adequate controls in place to manage operational risks, regulators and investors making increasing demands on banks to recognise the impact of climate change, and further reductions in non-performing loans (NPLs) in high NPL countries.

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 18/12/2019 - FedEx- FR

Fedex (Vente vs Conserver) : Nouvel avertissement sur les résultats JAB Holding : Envisage une introduction en bourse de son activité café Crédit Agricole (Achat) : Dépréciation de l'écart d'acquisition sur sa filiale LCL d’environ €600m Peugeot PSA (Achat) et Fiat Chrysler Automobiles (Achat) : Feu vert pour la fusion Takko Fashion (Conserver vs Achat) - 9M-19 : EBITDA de €132m (+25,6%) Hema (Vente) - 9M-19 : EBITDA de €70m (-3,8%) Atlantia (Conserver) : L'Etat italien prévoit de repousser à début 2020 sa décision sur la concession itali...

Credit Agricole S.A.: Update to credit analysis

Our credit view of CASA, reflecting the mutualist group's dominant retail banking and insurance franchises in France, with highly diversified sources of income.

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 12/11/2019 - Atlantia- FR

Atlantia (Achat) : EBITDA de €5,7 mds (+115%, +1% en comparable) sur les 9M-19 Telecom Italia (Achat) : Réduction de la dette, développement des services cloud en partenariat avec Google Iliad (Achat) Une offre de rachat d’actions de €1,4md, financée par une augmentation de capital Credito Emiliano - 9M-19 : RN de €158m (+4,5%) Mediobanca (Achat) : La participation de Leonardo Del Vecchio est passée à environ 9,9% BPCE (Achat) - 9M-19 :  Résultat avant impôts de €4,1 mds (-5,5%) Expedia (Achat) - 9M-19 : Résultat opérationnel de $743m (+2...

Alfred Glaser ...
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Delphine Brault
  • Fehmi Ben Naamane
  • Jean Sassus
  • Matthias Desmarais
  • Olfa Taamallah
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/16/2020

...

Alfred Glaser ...
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Delphine Brault
  • Fehmi Ben Naamane
  • Jean Sassus
  • Matthias Desmarais
  • Olfa Taamallah
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 16/01/2020

...

Jean Sassus ...
  • Steven Gould

Credit Agricole : SWITCH unwinding – stage 1

>Partial dismantling, as expected, of the SWITCH mechanism - CASA announced yesterday evening the unwinding of 35% of the SWITCH guarantee mechanism implemented with the Regional Banks.The SWITCH mechanism corresponds to a transfer to the Regional Banks of part of the regulatory requirements that apply to CASA in its insurance activities (RWA), in return for a fixed remuneration.Key stage with a view to simplification - This move does not come a...

Jean Sassus ...
  • Steven Gould

Crédit Agricole : Démantèlement de SWITCH – étape #1

>Démantèlement partiel, comme prévu, du mécanisme SWITCH - CASA a indiqué hier soir le démantèlement début mars 2020 à hauteur de 35% du mécanisme de garantie ‘SWITCH’ mis en place avec les Caisses Régionales.Pour rappel, le mécanisme ‘SWITCH’ correspond à un transfert vers les Caisses Régionales d’une partie des exigences prudentielles s’appliquant à CASA sur ses activités d’assurance (RWA), et cela modulo une rémunération fixe.Etape clé en vue de l...

Alfred Glaser ...
  • Delphine Brault
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard, CFA
  • Philippe Ourpatian
  • Pierre Tegner
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 12/18/2019

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Credit Agricole: 1 director sold

A director at Credit Agricole sold 3,831 shares at 13.108EUR and the significance rating of the trade was 54/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board...

Charles Lepetitpas ...
  • Jean Sassus
  • Khaled Ben Amor
  • Louis Boujard, CFA
  • Nicolas David
  • Philippe Ourpatian
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/21/2019

...

Charles Lepetitpas ...
  • Jean Sassus
  • Khaled Ben Amor
  • Louis Boujard, CFA
  • Nicolas David
  • Philippe Ourpatian
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 21/11/2019

...

Emira Sagaama ...
  • Jean Sassus
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Olfa Taamallah
  • Oussema Denguir
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/11/2019

...

Emira Sagaama ...
  • Jean Sassus
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Olfa Taamallah
  • Oussema Denguir
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 11/11/2019

...

Fehmi Ben Naamane ...
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/06/2019

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CREDIT AGRICOLE SA sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of CREDIT AGRICOLE SA (FR), active in the Money Center Banks industry. As regards its fundamental valuation, the title now shows 2 out of 4 stars while market behaviour can be considered risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date January 10, 2020, the closing price was EUR 12.88 and its target price was estimated at EUR 11.04.

Ibrahim Firdaus

Credit Agricole

Ibrahim Firdaus

Credit Agricole

Ibrahim Firdaus

Credit Agricole

Ibrahim Firdaus

Credit Agricole

Carine Maciol

Credit Agricole : Conservative and reassuring targets for 2022

Crédit Agricole on 6 June 2019 presented its new strategic plan for 2022 and held a credit update this morning. The occasion provides an opportunity to review this solid credit. - The proposed plan is in line with the previous one, with targets that we consider conservative and therefore feasible. Revenue growth is to be driven by organic growth and intragroup synergies, whilst a firm grip will be kept on costs to offset continued IT spend. These factors will help absorb the expec...

Carine Maciol

Crédit Agricole : Des objectifs prudents et rassurants à horizon 2022

Crédit Agricole a présenté le 6 juin son nouveau plan stratégique à horizon 2022 et organisé ce matin un update crédit. L’occasion de faire un point sur cette signature solide. - Le plan proposé est dans la continuité du précédent avec des objectifs que nous estimons prudents et donc atteignables. - La croissance des revenus sera tirée par le développement organique et les synergies intra-groupes, alors que les coûts resteront maitrisés pour compenser la poursuite des investissemen...

MarketLine Department

Groupe Bpce - Mergers & Acquisitions (M&A), Partnerships & Alliances And Investments

Summary Marketline's Groupe Bpce Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Groupe Bpce since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. KeyHighlights ...

MarketLine Department

Cofidis Participations S.A. - Strategy, SWOT and Corporate Finance Report

Summary Cofidis Participations S.A. - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Scope - Detailed information on Cofidis Participations S.A. required for business and competitor intelligence needs - A study of the major internal and external factors affecting Cofidis Participations S.A. in the form of a SWOT analysis - An in-depth view of the business model of Cofidis Par...

MarketLine Department

The Credit Mutuel-Cic Group - Strategy, SWOT and Corporate Finance Report

Summary The Credit Mutuel-Cic Group - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Scope - Detailed information on The Credit Mutuel-Cic Group required for business and competitor intelligence needs - A study of the major internal and external factors affecting The Credit Mutuel-Cic Group in the form of a SWOT analysis - An in-depth view of the business model of The Credit ...

MarketLine Department

Credit Du Nord Sa - Strategy, SWOT and Corporate Finance Report

Summary Credit Du Nord Sa - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Scope - Detailed information on Credit Du Nord Sa required for business and competitor intelligence needs - A study of the major internal and external factors affecting Credit Du Nord Sa in the form of a SWOT analysis - An in-depth view of the business model of Credit Du Nord Sa including a breakdown a...

MarketLine Department

BPCE SA - Strategy, SWOT and Corporate Finance Report

Summary BPCE SA - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. KeyHighlights BPCE SA (BPCE) is bankig group that offers a range of commercial banking, insurance, corporate finance, investment management and financial solutions. It provides loans and credits, demand deposits, savings accounts, regulated home savings products, life and non life insurance products, debit and pre...

Charles Pinel

Crédit Agricole - Assemblée générale des actionnaires du 21 mai 2019

Comme chaque année, la société propose l'approbation de chaque nouvelle convention réglementée dans des résolutions spécifiques, ce qui permet aux actionnaires de les approuver une par une. En revanche, les anciennes qui continuent de poursuivre leurs effets ne sont pas soumises au vote des actionnaires alors que l'assemblée générale doit statuer sur le rapport spécial selon le Code de commerce, ce qui est regrettable. Le faible taux d'indépendance d'un conseil trop nombreux nous empêche de soutenir le renouvellement des mandats de trois administrateurs. Cependant, la séparation des fonctions...

Expert Corporate Governance Service (ECGS)

Crédit Agricole - AGM and EGM 21 May 2019

Disclaimer: ECGS does not provide any service to the Company, except assistance on managing their voting guidelines (provided by Proxinvest, the French partner of ECGS).  As in previous years, the Company proposes the approval of each new regulated agreement in specific resolutions, which allows shareholders to approve them one by one. However, ECGS regrets that the former ones that continue to have an effect are not submitted to the vote of shareholders.  Given the size and lack of independence on board, ECGS will not support the re-appoints of: Véronique Flachaire, Jean-Pierre Gaillard and...

Crédit Agricole – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Charles Pinel

Proxy Report - 16/05/2018

Related party agreements (resolutions 4-8): We appreciate that each new agreement is submitted in a separate resolution giving shareholders the flexibility to vote for or against resolutions without having to reject the report in its entirety. However, the Company does not submit previously approved agreements to a vote, which is contrary to best practices. Remuneration (resolutions 19-24): Chairman of the Board: Quantum is reasonable compared to the median non-executive Chairman in the CAC40 Index. CEO and Deputy CEO: Remuneration 2017: Although qualitative criteria weighting for the bo...

Charles Pinel

Proxy Report - 16/05/2018

Comme chaque année, la société propose l'approbation de chaque nouvelle convention réglementée dans des résolutions spécifiques, ce qui permet aux actionnaires de les approuver une par une. En revanche, les anciennes qui continuent de poursuivre leurs effets ne sont pas soumises au vote des actionnaires alors que l'assemblée générale doit statuer sur le rapport spécial selon le Code de commerce, ce qui est regrettable. En ce qui concerne les rémunérations du Président du conseil et des deux dirigeants mandataires sociaux, six résolutions sont proposées. Pour le Président, les montants demeure...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

EU and UK Financials remain actionable Our outlook on global equities (both the MSCI ACWI and ACWI ex-US) remains positive and we continue to expect higher equity prices going forward. Below we highlight several new developments which give us additional confidence in our outlook, including but not limited to continued price and RS improvements for UK/European Financials. • Actionable Sector: Financials. Today's stock recommendations go beyond UK and European Financials, however these regions are the primary focus due to a plethora of attractive setups. In today's report we reiterate our 3/21...

Matthieu DRIOL

Short term view - CREDIT AGRICOLE : The movement goes on.

The background trend is clearly bearish. The movement goes on. The next target is at €11.105, then €10.598. Passing €13.120 would question the continuation of the fall.

Matthieu DRIOL

Analyse court terme - CREDIT AGRICOLE : Le mouvement se poursuit.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 11,105 €, puis 10,598 €. Le franchissement de 13,120 € remettrait en cause la suite de la baisse.

Matthieu DRIOL

Analyse court terme - CREDIT AGRICOLE : Le mouvement se poursuit.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 11,105 €, puis 10,598 €. Le franchissement de 13,120 € remettrait en cause la suite de la baisse.

Matthieu DRIOL

Short term view - CREDIT AGRICOLE : The movement goes on.

The background trend is clearly bearish. The movement goes on. The next target is at €11.105, then €10.598. Passing €13.120 would question the continuation of the fall.

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