This which would make the number seven in Europe

Sometimes, you need to know change horses in the Ford. Historical shareholder of AmbroVeneto, ancestor of Intesa for sixteen years, Credit Agricole had accompanied the Group during the long March had led him, by successive, to become the second Italian bank bailouts. But, first, always minority shareholder, the French could only be marginalized by the merger with Sanpaolo IMI. The Green Bank has therefore adopted a strategy of promising alternative.

Controlled more than 50 by regional banks to retain their majority, the group must adapt its ambitions to its both financial and human resources. Follower of the adage, "It must be strong at home before venturing outside", Credit Agricole had paved its positions in France before getting to conquer foreign markets. After the successive acquisitions of Indosuez, Sofinco, BancWest and spectacular recovery of Crédit Lyonnais, who have doped his activities in retail banking in France and in the global investment bank, the Green Bank has opted for a targeted expansion. In the "retail", unlike its larger competitors, BNP Paribas and Société Générale, the group is interested in the United States or Asia or Eastern Europe. It focuses on medium-sized acquisitions in the euro area and the Mediterranean basin, where it can also develop in the credit to the consumer, asset management and insurance.

Preferring to have its own network rather than a jump in the number one of the peninsula, the Crédit Agricole therefore negotiated the purchase of several pieces of the new transalpine empire. The most attractive is the highly profitable Bank in Parma, Cariparma, who will become the new head of Italy bridge. Reinforced Northeastern FriulAdria and two hundred agencies of Intesa Bank, the new set will have a network of 654 agencies. Used to manage and federate regional structures in France, the Green Bank is especially comfortable to build a true Cariparma group.

If its position is small at the national level (2 market share), Georges Pauget, General Manager of Credit Agricole SA, prefer to capitalize on its strengths by developing a few regional anchors in half north of the country, which is home to the richest regions of Italy and around Naples. Thus incorporated banking platform will have the critical size in 13 provinces with a market share of more than 5, including five over 10. To improve the profitability of the whole, the group will exploit synergies related to optimization of computer tools and back-offices, cross-sales and marketing of "retail" and developed by the Credit Agricole Group corporate products. In addition to its retail network, the Green Bank benefits in Italy of the implementation of its bank financing and investment Calyon, its strong presence in Fidis and Agos consumer credit, and its activities in asset management. A key area that could be doped by the creation of a European platform bringing together of Intesa Sanpaolo and Crédit Agricole activities in this area. This which would make the number seven in Europe. Failure of the negotiations in progress on this issue, each will resume its logs in Italy.

By aligning the overall performance of Cariparma cultural proximity and the quality of the teams, Georges Pauget has take advantage of the fact that from a certain market share (5-8), profitability is growing faster than the volume of business. A phenomenon that will be accentuated by the opening of hundreds of agencies in areas key (Emilia-Romagna, Tuscany, Veneto) to densify the network again.

The Italian scheme is not reproducible in all countries, but the Crédit Agricole has two models available, its parallel experience of integration and management of a centralized network of Crédit Lyonnais. It is this method that will be applied in Greece, where the Green Bank has taken control of Emporiki, which holds 10 of the local market but whose profitability is not brilliant. To be successful these settlements, the group must also rely on men. A challenge of its strong growth and the success achieved in recent years to identify more easily. If the Director General of the new subsidiaries is local, the Green Bank could thus find expatriates (half of which come from regional banks) to perform the essential financial functions such as risk management.

With a relatively modest investment across the group, of about 10 billion euros, Casa has therefore built in Italy, Greece and Portugal by its partnership with the family Espirito Santo, a network in southern Europe who puts in a good position to achieve its goal to achieve 50 of its activity internationally in 2008. It lacks an implantation in Spain so that the device is full. Targets are identified and rather expensive, but there was no emergency, because the group must first Digest its recent acquisitions. In the meantime, it will always carry out small operations, because the capital increase scheduled for the beginning of next year and the "financialization" of the residual in Intesa give it some leeway.

In the financing and Investment Bank, challenges abound also. Attached to a greater regularity of performance due to its "regional" shareholders, Casa does not wish to allocate more than 30-35 of its assets to these very volatile activities. The Bank can therefore compete with its large French or foreign competitors. The Group merely assert its presence in some key trades where he can keep his rank.

After many hiccups that followed the integrations of Indosuez and Crédit Lyonnais Investment Bank, the Calyon new seems to have regained a measure of managerial stability. But it must still move forward and improve its profitability. At the same time, the group must remain vigilant on his original profession, retail banking in France, which has strength and allowed its development. After have, in recent years, preferred the margin on the market share, especially in real estate, the Bank is therefore passed recently on the offensive to preserve the dynamic, which is the key to the growth of the group.