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Crédit Mutuel Arkéa* signs a protocol agreement regarding the split of the Crédit Mutuel Massif Central federation
Crédit Mutuel Arkéa signed today a protocol agreement with Caisse Fédérale de Crédit Mutuel and the Crédit Mutuel Massif Central federation defining the terms of the separation of the Crédit Mutuel Massif Central federation, which will take place on 1st January 2020.
The signature of this protocol is the result of the negotiation process initiated last February with Crédit Mutuel Alliance Fédérale and the Crédit Mutuel Massif Central federation, in compliance with the fundamental principle of the decision-making autonomy of local savings banks, since Crédit Mutuel Massif Central's local savings banks have expressed their desire to change their inter-federal bank.
This negotiation process took place in a respectful climate and in good faith. It reflects the constructive relations that the Arkéa group wishes to establish with the Confédération Nationale du Crédit Mutuel, as part of the forthcoming discussions on the Arkéa group's independence process, once the discussions with supervisors have been finalised.
Crédit Mutuel Arkéa and Discover® Global Network sign an agreement
Discover Global Network, the payments brand of Discover, and Arkéa have signed an acquiring agreement that will allow merchant clients of Arkéa group's distribution networks to accept Discover, Diners Club International and alliance partner cards from physical POS terminals, via mobile terminals, and online from payments webpages. Arkéa group’s ATMs will also accept cards that are part of Discover Global Network for cash withdrawals.
The Arkéa group continues its development and confirms its high financial strength
The Group's Board of Directors approved the financial statements for the first half of 2019. The Arkéa group is continuing its development and is once again performing very well and showing remarkable financial strength. These results confirm the relevance of its cooperative and collaborative banking model in serving its members and clients.
The Administrative Court of Rennes confirms that the ARKEA group can use the ARKEA brand in its communication actions
The ARKEA group welcomes the decision of the Administrative Court of Rennes on 24 June 2019, which rejects the requests of the Confédération Nationale du Crédit Mutuel (CNCM). The court had been seized by the CNCM in order, in particular, to prohibit the ARKEA group from using the name "ARKEA" or "ARKEA group" without adding the words "Crédit Mutuel" for all its communications. The court found that the CNCM's request is unfounded. The ARKEA group will thus be able to continue its institutional communication and sponsorship activities under the ARKEA brand. In particular, the Court points out that that name is not likely to cause any confusion. On the commercial level, only the Crédit Mutuel ARKEA brand is used and will continue to be used until independence. The group's products and services are also distributed under the brands of federations and subsidiaries.
Arkéa confirms its first-rate financial strength and the efficiency of its model
“In 2018, the Arkéa group achieved remarkable financial and commercial performances. Arkéa has once again demonstrated its ability to produce steady, profitable and balanced growth," said Chairman Jean-Pierre Denis at the end of the Board of Directors' meeting that approved the financial statements for 2018. In line with a benchmark 2017 financial year, the cooperative banking group maintained its performance at the highest level and set new records, with net income group share at €437 million, up 2.1%, up 30% over the past two years. These very good overall performances confirm the intrinsic solidity of a diversified group that has capitalized on its territorial roots, the agility conferred by its intermediate size and its recognized technological expertise to build an original development model which is adapted to the rapid changes in the banking industry.