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Mutual banks are king in France

2021-02-11T19:46:15.299Z

They continue to gain market share in retail banking. The large French mutual banks have more or less withstood a year 2020 full of dangers. Crédit Agricole SA, the listed entity of the Green Bank thus recorded a profit group share of 2.69 billion euros, down 44.4% compared to 2020. But this decrease is largely due to an unfavorable base effect (an exceptional profit in 2019) and the massive depreciation (900 million euros) of the Italian subsidiary



The large French mutual banks have more or less withstood a year 2020 full of dangers.

Crédit Agricole SA, the listed entity of the Green Bank thus recorded a profit group share of 2.69 billion euros, down 44.4% compared to 2020. But this decrease is largely due to an unfavorable base effect (an exceptional profit in 2019) and the massive depreciation (900 million euros) of the Italian subsidiary CA Italia.

The Green Bank has increased sharply (1.35 billion euros), the provisions should allow it to deal with bad credit.

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BPCE (Banque Populaire, Caisse d'épargne, Natixis) was forced to more than double the amount of its provisions for bad debts (3 billion euros).

This greatly weighed on its profits, which were halved last year (1.6 billion euros).

The bank is preparing to withdraw its Natixis subsidiary from the Stock Exchange in the near future.

Territorial anchoring

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Source: lefigaro

All business articles on 2021-02-11

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