Lessons on keeping a high rating

Through its focus on families and companies, France-based Crédit Mutuel has been able to support the real economy, forge international alliances and maintain a high rating


Always striving to serve its member shareholders and customers – from individuals to companies, retailers, self-employed professionals or associates  – Crédit Mutuel has bolstered its position as a bank and its financial strength by encouraging growth, efficiency and risk management daily.

In 2012, the group recorded a net profit of €2.217bn. With €37.4bn in group shares and the shareholders’ equity at 12.3 percent, Crédit Mutuel’s Core Tier 1 ratio increased by 14.5 percent – a staggering feat that is currently unparalleled in France. As a result this has put the company among the top banks in Europe.

The high performance has enabled Crédit Mutuel to earn widespread recognition and appreciation among foreign investors outside of Europe, allowing it to diversify its services, including refinancing in Japan, the US and Australia.

Proximity, responsibility and solidarity
Backed by 79,000 employees and 24,000 volunteer directors, Crédit Mutuel has expanded across France and Europe, and is committed to serving the needs of the 30 million customers and member-shareholders who are its lifeblood. With a robust sales performance – combined with a strong ethos to assist its customers, Crédit Mutuel is able to stay at the forefront of technological banking – from face-to-face interaction to electronic banking, telephone banking, insurance and security – the group continues to maintain its high rating.

Placed among the top banks in France with regards to safety, Crédit Mutuel was also rated the best French bank in terms of its reputation by Baromètre Posternak-Ifop, and the leader in the general ranking of Baromètre Argus de l’Assurance and OpinionWay. These accolades recognise the values of responsibility and solidarity that the Crédit Mutuel Group practices on a daily basis, affirming its mutual banking identity and the strength of its development model.

European scale
Established as the bank for both families and companies, Crédit Mutuel was designed to serve people and society, and works actively to support the real economy. By building its future as a retail bank in Europe: it has acquired Citibank in Germany (renamed Targobank) and Cofidis. The group has also created Targobank Spain in collaboration with Banco Popular Español, forging alliances with Spanish insurance companies.The group recently entered into agreements with Mouvement Desjardins (Canada) to create two joint ventures – one in electronic banking and the other in private equity, which has opened up new opportunities in North America. The group’s international growth has also helped reinforce the positive results finalised in 2012.

As an innovative European group equipped with powerful tools, Crédit Mutuel meets the challenges of the future by adapting to economic changes, growth and risk management. To that end, it can also count on the motivation, high level of training, professionalism and key responses of its employees, who are close to its customers, attending to their needs.