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02.20.2013 / SPECIAL REPORTS


A look back at 2012: a year for adaptation

In 2012, Crédit Agricole CIB implemented the adaptation plan announced on 14 December, 2011, in response to regulatory constraints on liquidity, risk-weighted assets and capital. This plan aimed to refocus Crédit Agricole CIB on its areas of excellence, serving a portfolio of strategic clients (large corporates and financial institutions) and in leading financial markets that represent 85% of global GDP. Let's look back at this year of adaptations.


Key events

In 2012 equity derivatives and commodities activities were discontinued; equity brokerage activities were sold. Accordingly, Crédit Agricole CIB completed the sale of CLSA to CITICS and signed the sale of CA Cheuvreux to Kepler. These transactions are due to be finalised in 2013 after the usual agreements are obtained from regulatory authorities. Lastly, in December 2012, Crédit Agricole CIB and Société Générale announced the restructuring of Newedge. The separation of execution and clearing businesses is due to take effect in 2013.

In 2012, a new “Distribute to Originate” model was introduced, with the creation of the Debt Optimisation and Distribution business line. Over a year marked by difficult economic conditions in Europe, Crédit Agricole CIB came up with innovative solutions to finance the real economy and to assist its clients with their expansion. Crédit Agricole CIB has become the European leader in green bonds, by arranging four socially responsible bonds.
 



The business lines

Despite an even weaker macroeconomic environment and strong liquidity and capital constraints, structured finance, one of Crédit Agricole CIB’s areas of excellence, maintained its leadership in 2012.
Major rewards were received, confirming Crédit Agricole CIB’s position as one of the world’s leading players:

Debt Optimisation and Distribution, a new business line at the heart of the new “Distribute-to-Originate” model proved its effectiveness. Crédit Agricole CIB is the third bookrunner for corporate syndicated loans - EMEAEurope, the Middle East and Africa (Thomson Reuters) and number one in France (Thomson Reuters).

In investment banking, mergers and acquisitions teams won major advisory mandates, like for Danone (acquisition of a stake in Centrale Laitière du Maroc), ranking Crédit Agricole CIB number one in public takeover offers in the French market in 2012 (Thomson Reuters). In Equity Capital Markets, the Bank finalised benchmark operations: capital increases (Alstom) or convertible bond issues (Faurecia).

In tough conditions, capital markets posted a strong performance in all its activities, notably in debt capital markets:





FReD, our CSR policy

FReD, our CSR policy

Regional and local authorities / medium-sized companies: innovative financing

Regional and local authorities / medium-sized companies: innovative financing

2012 corporate video

2012 corporate video


Website: a new version

Website: a new version


Jean-Paul Chifflet, President

2012 was a year of transformation and refocusing. We reshaped the economic model of Crédit Agricole CIB, our Corporate and Investment Bank, with the main objective to accompany our clients.

Jean-Yves Hocher, Chief Executive Officer

2012 was a year of transition and a year of satisfaction: we took a first step, the implementation of our new business model. We now need to continue our efforts to make Crédit Agricole CIB a profitable CIB servicing Crédit Agricole group and the real economy.