Our target is to provide the full-range support to the multinational segmented clients of the Crédit Agricole Group in Russia. In this respect we closely cooperate to the Senior Bankers and Coverage Officers at Crédit Agricole CIB in France, to the Liaison Desk International Network as well as to Caisses Régionales de Crédit Agricole and LCL. The core client base traditionally comes from France; however the local team has made strong efforts to develop relations with the customers from Germany, Japan, the Nordic countries and Italy. We will improve our cooperation with the Senior Bankers from the United States and the United Kingdom. Since the beginning of 2010, we have emphasised Cash Management and Fixed Income Markets products, especially Foreign Exchange and Interest Rates Derivatives.

Our set-up in Russia includes two coverage teams in Moscow, one in charge of the relations with French clients and the other with non-French multinationals. There is also a coverage team in St. Petersburg. Day-to-day operations are supported by Customer Desk officers located in both cities.

Our Bank is well recognised on the Russian market where we have operated during more than 17 years; we have elaborated a very strong local expertise. Since the beginning of 2008 we have seen significant increase of competition between banks. Banks from Germany, France and United Kingdom are very present. Scandinavian banks have increased their presence on the market. This growing competition makes us even more concentrated on the quality of our products and service. We implement further investment into operational systems and strengthen our front office and back office teams.