Link to Crédit Mutuel Arkéa Press Releases: click here
Market statement - 8th February 2018
Crédit Mutuel ARKEA would like to inform its investors that the following bonds now benefit from a A3 rating from Moody’s:
CMARK 1 1/4 05/31/24 FR0013258936
CMARK 3 1/4 06/01/26 FR0013173028
CMARK 3 1/2 02/09/29 FR0013236544
CMARK 1 7/8 10/25/29 FR0013291556
For the record, Moody’s started rating Crédit Mutuel Arkéa’s EMTN programme in November 2017.
Market statement - 26th January 2018
Crédit Mutuel ARKEA takes note of the publications made this week by Moody's and Standard & Poor's, the two rating agencies, in connection with the project of consulting local branches on the creation of a cooperative and mutual banking group, distinct from Crédit Mutuel. The current ratings continue to apply at this stage despite the consultation.
Crédit Mutuel ARKEA would like to remind investors of the group's strong growth trajectory since 2008 and the quality of its fundamentals, with solvency levels exceeding regulatory requirements.
Crédit Mutuel ARKEA has already started work to identify actions to support its current ratings, so that they reflect the relevance of its business strategies and remain attractive to investors.
Market statement - January 15, 2018
Crédit Mutuel Arkéa confirms that its Board of Directors will be asked on Wednesday 17th January to give a mandate to management to undertake all actions necessary to preserve Crédit Mutuel Arkéa’s entrepreneurial freedom, by obtaining the status of an independent cooperative and mutual banking group, distinct from the rest of Crédit Mutuel.
The Board of Directors will also deliberate on the start of a voting process at the Federation and local branches level. The Board of Directors of the Crédit Mutuel de Bretagne and Crédit Mutuel du Sud-Ouest federations will be held no later than 19th January. The Crédit Mutuel du Massif Central federation will also be invited to deliberate on this process.
Following the meetings of the Boards of Directors of Crédit Mutuel Arkéa and of the federations of Crédit Mutuel de Bretagne and Crédit Mutuel du Sud-Ouest, further information will be communicated.
Market statement - October 13, 2014
On October 6, 2014, Crédit Mutuel Arkéa filed a complaint with the Paris Public Prosecutor for illegal acquisition of interests, breach of trust and deception regarding quality of services, concerning the manner in which the CNCM (Confédération nationale du Crédit Mutuel) performs its function as a central body, which function is conferred upon it by the French Monetary and Financial Code (Code monétaire et financier).
Firstly, the complaint alleges the existence of conflict-of-interest situations that prevent the CNCM from providing proper independent administrative, technical and financial supervision, given that its executive officers hold interests in structures that the CNCM is supposed to supervise.
Secondly, the complaint also alleges private use of the ‘Crédit Mutuel’ name and certification mark by entities that are not mutual structures, whereas the CNCM is supposed to ensure that it is used only by the Crédit Mutuel banks (les caisses) in accordance with objective conditions of use, and that the CNCM’s executive officers hold interests in the said entities.
This complaint was filed following a referral to the French Prudential Supervision and Resolution Authority (l'Autorité de Contrôle Prudentiel et de Résolution) by Crédit Mutuel Arkéa concerning the same matters, and an inspection by that authority focusing on the ‘operating methods and conditions under which the CNCM performs its function as a central body’.
Market statement - October 6, 2014
In view of an ongoing conflict of interests within its central body, the Confédération Nationale du Crédit Mutuel, earlier today Crédit Mutuel Arkéa referred a number of breaches to the French Competition Authority (l'Autorité de la Concurrence) and the Public Prosecutor at the Paris District Court (le Tribunal de grande instance). The matter has also been referred to the French Prudential Supervision and Resolution Authority (l'Autorité de Contrôle Prudentiel et de Résolution).