Crédit Agricole, a Fortune 500 company, was founded in 1920 as a financial, commercial and legal unified but decentralized decision-making group, a bridge between the state and agricultural credit organizations, under the dual leadership of the French Ministry of Agriculture and the Ministry of Finance and Economy
Crédit Agricole is a semi-official agricultural credit institution of mutual aid and cooperation in France, and is the largest bank in France with a capital of nearly $100 billion. Founded in August 1920 on the basis of the French local credit cooperatives and regional coffers, it was originally known as the "National Agricultural Credit Administration", in 1926 it was renamed the "National Agricultural Credit Bank", and in 1947 it was renamed the current name. The head office is located in the capital Paris.
In 1885, in order to solve the problem of short-term capital turnover, French farmers established a local treasury of agricultural credit of mutual aid. In 1920, the French government established the National Agricultural Credit Administration, which was renamed the National Agricultural Credit Bank in 1926. Crédit Agricole has a pyramidal structure, with 3,009 local coffers on the ground floor, 94 regional coffers (1 per department) in the middle, and the national crédit agricole clutches on the upper floor. The National Agricultural Credit Bank is an official institution and a bridge between the State and agricultural credit organizations, under the dual leadership of the French Ministry of Agriculture and the Ministry of Finance and Economy.
Crédit Agricole is a mutual company, both a financial, commercial and legal unified group with decentralized decision-making, and a cooperative group with a three-tier organizational structure. CNCA is the central banking institution of Crédit Agricole and is at the heart of the Group's management and supervision, and its main shareholders are 48 regional banks. The 2,672 branches of the regional bank (all of France) are also the main shareholders of the regional bank. Regional bank and group relationships are carried out through the coordinating body FNCA.
Participate in the formulation of national policies on agricultural credit; control and coordination of regional vault operations; specific management of excess funds in the coffers of each region; Issuing short-term treasury bills and long-term bonds through subordinate institutions to provide financial facilities for regional treasuries to issue medium and long-term loans; Issuing long-term loans and handling state credit business on their own.
Crédit Agricole was initially financed by loans from the Banque de France, but has since raised more and more money from its own deposits and bond issuances, far exceeding its own needs to make loans.
