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  • 2019/10/01
  • 7 min

A new strategic plan to work every day in the interest of its customers and society

Crédit Agricole Consumer Finance, a leading player in consumer credit in Europe, is completing its medium-term plan CA CF 2020, most of whose objectives were achieved a year ahead of schedule, and is now detailing its new strategic roadmap, CA CF 2022.
CA CF 2022 is at the heart of the Crédit Agricole Group's Project and medium-term plan presented last June. Building on its achievements, accelerating and expanding its initiatives, CA Consumer Finance embodies, with its new plan, the Crédit Agricole Group's “raison d'être” (purpose), "Working every day in the interest of our customers and society."

CA CF 2020: most of the objectives achieved one year ahead of schedule

"We have reached most of the targets of our CA CF 2020 strategic plan a year ahead of schedule, even as our main markets are slowing down, said Philippe Dumont, Chief Executive Officer of CA Consumer Finance. Over the four years of our plan, our company has achieved excellent commercial and financial performance and has implemented its strategy perfectly.”

On the commercial side, outstandings managed by CA Consumer Finance increased by 27% to €90.5 billion between the end of 2015 and 30 June 2019, including €20.3 billion managed on behalf of Crédit Agricole's retail banks in France, Italy and Morocco (+48%). 

On the financial side, net banking income (including 50% of the NBI of automotive joint ventures) increased by 3.3% per year between 2015 and 2018, and net income Group share by 15.5% per year over the same period, reflecting tight control of operating expenses and a favorable trend in the cost of risk.

Finally, at the strategic level, there are several emblematic achievements: Crédit Agricole's Regional Banks gained 1.2 percentage points of market share in the consumer credit market. CA Consumer Finance has created a joint venture with Bankia, Spain's fourth largest bank. This exclusive partnership will enable it to accelerate its establishment in Spain, the fourth largest consumer credit market in the Euro zone, and to support its partners. The agreement between CA Consumer Finance and Banco BPM, Italy's third largest bank, has been renewed and extended. Signed for 15 years, it consolidates the leadership of their subsidiary Agos in Italy and gives it access to the 1,750 branches of the Banco BPM network. The partnership between CA Consumer Finance and Fiat Chrysler Automobiles has been renewed for a period ending on 31 December 2024, giving their joint venture FCA Bank all the means to pursue its profitable development. Finally, CA Consumer Finance is in the top two of the customer recommendation index in the various countries where it operates


CA CF 2022: a plan combining continuity and disruption

In a testing economic context faced with new challenges, CA Consumer Finance worked on a new strategic plan, CA CF 2022, combining continuity and disruption, building on the strengths of CA CF 2020 and aimed at responding to rapid market developments and consumer expectations.

With CA CF 2022, CA Consumer Finance is part of the Crédit Agricole Group's raison d'être or purpose ("Working every day in the interest of our customers and society") and contributes to the three projects of its strategic plan: the Client Project, the Social Project and the Human Project.


CA CF 2022: six strategic orientations to contribute to Crédit Agricole Group's projects and address CA Consumer Finance's business challenges

CA CF 2022 is organised around the three projects of the Crédit Agricole Group and three business projects.


A. Customer Project: Upgrade our customer experience through customisation, innovation & digitisation

CA Consumer Finance places its customers and those of its partners at the heart of its actions because their satisfaction is its priority. What is its objective? Be number one in customer recommendation. To do this, CA Consumer Finance aims to offer the best customer experience, capitalising on its capacity for innovation and the potential of data.


B. Social Project: Mobilise for society and the environment

As a responsible and committed company, CA Consumer Finance will continue to extend access to credit to all customers and offer them appropriate support. In particular, it will continue the personalised support it has provided since 2013 for its most vulnerable customers. CA Consumer Finance will expand its cooperation with innovative ecosystems, such as the Village by CA, and strengthen its presence in the Paris-Saclay innovation cluster. The company will support its customers' energy transition, whether it concerns their mobility or the equipment in their homes.

Objective: €1 billion in "green" financing granted in 2022.


C. Human Project: Further engage & empower our employees

CA Consumer Finance will help its 9,540 employees in its 19 countries of operation to become even more committed to their customers and partners. The company will implement many actions to become a sustainable employer of reference, simplify its organisation to empower further its employees and digitalise its HR processes.

Objective: to raise the employee Engagement and Recommendation Index 2 points above the average for the financial sector in Europe.


D. Contribute to Group retail bank leadership in consumer finance and amplify synergies

CA Consumer Finance will continue to support the growth of Crédit Agricole Group's retail banks in France, Italy, Morocco and Poland by strengthening its expertise, accelerating the digitalisation of its offers and proposing new innovative solutions that meet consumer expectations and are growth drivers for these banks. Objective: to help Crédit Agricole's retail banks in France gain one percentage point in consumer credit market share by 2022.

At the same time, CA Consumer Finance will continue to grow its insurance business, supported by Crédit Agricole Assurances.


E. Strengthen our core business and leverage on new consumer trends

CA Consumer Finance will build on its latest achievements: launch its joint-venture business with Bankia in Spain, deploy the full power of its partnerships with Banco BPM in Italy and with Fiat Chrysler Automobiles. In parallel, the company will adapt its offers and develop new ones to meet new consumer trends (use vs. ownership, convergence of payments and financing). In the automotive financing market, CA Consumer Finance will complete its product offering and distribution channels to provide even better support to car manufacturers. Target: 5 to 6 billion Euros of car rental outstandings. In e-commerce, CA Consumer Finance will launch new products and services that meet the needs of the players in this sector. 


F. Shift our operating model to be more efficient and agile, together

CA Consumer Finance aims to achieve operational excellence, controlled management of its scarce resources and increasingly diversified sources of refinancing. 
Objective: a cost/income ratio of less than 46%.


"In line with Crédit Agricole Group's positioning, this new ambitious strategic plan, based on the engagement and expertise of our employees, will enable us to continue to work every day in the interest of our customers, our partners and society," concludes Philippe Dumont.



CA Consumer Finance Press office: +33 (0)1 87 38 15 87 - presse@ca-cf.fr


About Crédit Agricole Consumer Finance:

Crédit Agricole Consumer Finance, Crédit Agricole SA's consumer credit subsidiary, distributes a broad range of consumer credit and related services (in France, principally through its commercial trademarks Sofinco, Viaxel and Creditlift Courtage) for distribution channels as a whole: direct sales, point-of-sale financing (automotive and home appliances) and partnerships. Present alongside major distribution, specialised distribution and institutional brands in the 19 countries where it operates, CA Consumer Finance offers its partners solutions that are flexible, responsible and ideally suited to their needs and those of their customers. Excellence in customer relationships, empowered teams for customers and commitment to society are the pillars that make CA Consumer Finance a group that works every day in the interest of its customers and society. At 31 December 2018, CA Consumer Finance managed €88.5 billion in outstanding loans.

Learn more: www.ca-consumerfinance.com