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Introduction of Credit Agricole

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2017-05-31 6,274




1. Introduction of Credit Agricole.

Crédit Agricole SA is a leading global bank ranked #10 in the world by asset size serving 55 million clients through 140,000 employees and a global presence in 52 countries.  Its Moody’s rating of A1 and S&P’s rating of A rank it as one of the highest rated banks in the world. 

In Korea, only the corporate and investment banking entity, Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB, formerly Calyon) have a presence.  CACIB is active in a broad range of capital markets, investment banking and financing activities.  Our client base in Korea may be divided into four segments:  major conglomerates (e.g., Hyundai and Samsung), state owned companies (e.g., KEPCO), multinational companies in Korea, and financial institutions. 

Last December of 2016, CACIB Korea acquired RBS Securities to expand its business scope and client base and grew from 90 employees to 120 employees at the Korea branch.





2. Why did you invested in Korea?

We entered the Korean market as the first French bank in 1974 to support the many
infrastructure projects that French multinationals were undertaking to assist in the rebuilding of Korea.  Since its inception, CACIB in Korea has focused on Structured Finance activities, which include Export Finance, Asset-based Finance (Project Finance, Aircraft and Ship Financing) as well as trade finance activities.  One recent large project was the USD 3 billion ECA-backed financing for the Korea Train Express (KTX). 

With its strong capability in the global markets, CACIB Korea offers clients hedging solutions for foreign exchange and interest rate risk.  Through this comprehensive range of products and services, CACIB Korea has been a buttress in Korea’s economic growth through the good and bad times, such as the IMF Crisis of 1997. 

CACIB Korea looks forward to many more years of supporting Korea and its economy.






3. Evaluate Korea’s Global Competitiveness and investment environment compared to other Asia countries

Korea is an interesting country to say the least.  The rapid growth of the economy is
the fastest with the smallest population in the history of the modern world.  Furthermore, since the 1960s, South Korea transformed from a recipient country of official development assistance to significant donor as a Development Assistance Committee (DAC) member. 

Therefore, Korea is one of the most flexible and changing business environments not just in Asia, but in the world.  The Korean population is also very well educated and the roots of the country allow a cohesive working environment. 

In terms of the financial industry, Korea is one of the most heavily regulated countries in the region and this makes it a challenging business environment for any institution.






4. What support do you want from the Korean government?  Also, what is the obstacle of investment activities and business activities?

The Korean government has already provided support for our business and we’re very
grateful to the Korean government and its staff.  The greatest obstacle would be the heavily regulated environment, but the Korean government has been very accommodating and helpful.





5. What is the reason for a multinational’s success in Korea?
Team.  Our local team is the strength of the organization and through a global platform and teamwork we find success.  A strong platform and infrastructure gives the necessary tools for our employees to strive for excellence.





6. What are your management plans in 2017?

Recently, we acquired a securities firm and established Credit Agricole Securities Asia LTD.  We will use 2017 to make it a robust platform while developing our existing strengths in capital markets, trade finance, export finance, project finance, and debt financing. Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB, formerly Calyon) is Crédit Agricole's corporate and investment banking entity. 

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