Credit Agricole : To help them through the health crisis, increasing numbers of customers are applying for loans guaranteed by the French government and seeking to defer loan payments
April 22, 2020 at 11:03 am
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The activities of businesses, professionals, retailers and farmers have been strongly impacted by the ongoing health crisis. These customers are faced with cash flow problems that could have major repercussions once we enter the recovery phase. Some sectors, such as cafes, restaurants, hotels, tourism, events and local retail are particularly affected. At a time like this, customers expect their bank to do its absolute best to look after their individual needs, whatever their sector.
Since the introduction of the state-guaranteed loan scheme:
81,200 customers have applied to the Crédit Agricole Regional Banks, LCL and CACIB for €13.5 billion in loans guaranteed by the French government.
40% of the loan applications have come from artisans and SMEs, 30% from retailers and hotels, 8% from large and intermediate-sized companies and 5% from farmers.
Less than 2.5% of these applications were ineligible for the scheme. The Crédit Agricole Group is working with the customers concerned to find other solutions to help them through the crisis.
468,000 loan payment deferrals have been implemented, representing payments of €3.6 billion.
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Crédit Agricole SA published this content on 22 April 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 April 2020 10:02:08 UTC
Crédit Agricole S.A. is one of the leading European banking groups and is the leading financial backer of the French economy. Net Banking Product breaks down by activity as follows:
- retail banking (30.1%): activities in France (Crédit Lyonnais) and abroad. Furthermore, the group is present in France via its 39 regional networks of branches (making it the biggest French banking network);
- finance, investment and market banking (30.1%): standard and specialized bank financing activities (financing for acquisitions, projects, aeronautical and maritime assets, etc.), stock operations, consulting in mergers and acquisitions, investment capital, etc.;
- asset management, insurance and private banking (25.9%);
- specialized financial services (13.9%): consumer loan, leasing and factoring (No. 1 in France).
At the end of 2023, Crédit Agricole S.A. managed EUR 835 billion in current deposits and EUR 516.3 billion in current credits.
NBP is distributed geographically as follows: France (46%), Italy (20%), European Union (14.3%), Europe (7.2%), North America (6%), Japan (1.3%), Asia and Oceania (3 .5%), Africa and Middle East (1.3%), Central America and South America (0.4%).
Credit Agricole : To help them through the health crisis, increasing numbers of customers are applying for loans guaranteed by the French government and seeking to defer loan payments