Crédit Mutuel has both a sound financial position and a long-term growth strategy and is its customers' banking partner of choice.
A cooperative and mutual Group
Crédit Mutuel Arkéa is not listed on the stock exchange. It is owned by its customer shareholders, who are both shareholders and customers. It continues to grow while remaining faithful to its model as a local and regional bank serving the real economy. As both a producer and distributor, it is able to offer its customers – whether individuals, businesses or institutional clients – a comprehensive line of banking, financial and insurance services. It also develops private label banking services for financial and payment institutions, telephone operators, mass market retailers, and so on.
Its own strategy
Crédit Mutuel Arkéa develops its own strategy and uses its own information system.
“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’ ”.
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).