Crédit Mutuel Arkéa reveals its new strategic plan "Transitions 2024".
On 28 January the Board of Directors of Crédit Mutuel Arkéa unanimously adopted the group's strategic plan for 2024. Four major areas of development have been identified to ensure that the banking group will pursue its growth trajectory with confidence, in line with its commitment to its stakeholders to support the vitality of its regions. Crédit Mutuel Arkéa unveils a strategy aligned with its purpose, seeking overall performance that takes into account both financial and non-financial objectives.
Transitions 2024, which sets out the group's roadmap for the next four years, takes place in a world heavily impacted by unprecedented environmental, social and economic challenges. It is a world undergoing rapid and major changes, with rapidly evolving needs, expectations and ways of consumption.
It is the concrete implementation of the commitments made through the Group's purpose, expressed in 2019 and adopted at the Annual General Meeting in May 2020.
Crédit Mutuel Arkéa takes note of the adoption today by the Board of Directors of the Confédération Nationale du Crédit Mutuel of the "decision of a general nature relating to the reinforcement of the cohesion of the Crédit Mutuel Group", against the advice of Crédit Mutuel Arkéa.
Crédit Mutuel Arkéa deplores that the Confédération Nationale du Crédit Mutuel has remained indifferent to its requests to withdraw this decision of a general nature.
Crédit Mutuel Arkéa takes note of the information received this afternoon from the Confédération Nationale du Crédit Mutuel regarding the postponement to February 2 of the examination with a view to its adoption of the draft “general decision on strengthening cohesion" initially scheduled for January 25. It is also noted that the CNCM is considering a possible revision of this draft.
Our determination remains intact and we reaffirm our firm opposition to any imposed measure that would be likely to hinder the expression of our specificities, the control of our strategic choices, our development choices and our entrepreneurial freedom.
Crédit Mutuel Arkéa remains fully mobilized and will be particularly vigilant to the implications of any new draft decision of a general nature.
The Board of Directors of Crédit Mutuel Arkéa requests the withdrawal of the draft "general decision on strengthening cohesion" presented by the Confédération Nationale du Crédit Mutuel
This project, if adopted, would constitute a new stage of centralisation by the central body and would be in total opposition to the principle of subsidiarity. It comes moreover in the midst of the Covid crisis and recovery plan, where banks must fully focus on supporting their individual, professional and corporate clients.
An exceptional meeting of Crédit Mutuel Arkéa's Board of Directors was held today and unanimously called for the immediate withdrawal of this project. In the case this request was not satisfied, the Board of Directors also gave a mandate to the executive management to take all measures to protect the group's interests. This could lead to legal action being taken before the various competent courts, even though the group has been stepping up initiatives to calm relations within Crédit Mutuel over the past few months under the aegis of regulators and supervisors.
The authorities of governance of the federations of Crédit Mutuel de Bretagne and Crédit Mutuel du Sud-Ouest, also meeting today on an exceptional basis, equally unanimously adopted resolutions strongly condemning this draft decision and opposing its implementation.