Credit Agricole eyes Canada expansion

摘要

Credit agricole is looking to expand its corporate and investment banking franchise after years of cuts, with plans to open an office in Canada and possibly to increase its physical presence in Asia over the next few years. It is only a couple of years since the French bank exited more than 20 countries in CIB and cut billions in risk-weighted assets in an effort to cut costs and improve its capital ratio, after taking a number of losses at group level - not least linked to its Greek subsidiary. CIB chief Jean-Yves Hocher told IFR that the firm was now focused on its core businesses of France, Italy, Spain, Germany, the UK and the US - but added that there were possibilities they would open branches in new countries this year.