Crédit Agricole and Worldline announce the creation of their joint venture in the field of electronic payment services for merchants in France. The two groups have received unconditional authorization from the European Commission.
During the first Board of Directors meeting, held on March 19, 2024, Laurent Bennet, Chief Executive Officer of Crédit Agricole des Savoie, was elected Chairman of the Board and Meriem Echcherfi was appointed Chief Executive Officer. The joint venture's brand name will be unveiled shortly.
The joint venture aims to become a major player in electronic payment services for merchants in France.
The joint venture is owned 50% plus one share by Worldline, and will therefore be fully consolidated. Crédit Agricole holds 50% of the capital less one share and will supervise the joint venture.
' Our joint venture, which combines Worldline's technological expertise in the acceptance business with the commercial performance and dynamism of the banks in the Crédit Agricole Group, reflects our shared ambition to offer the best payment solutions to our merchant customers," said Jean-Paul Mazoyer, Crédit Agricole S.A.'s Deputy Chief Executive Officer in charge of Technologies, Digital and Payments.
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Crédit Agricole S.A. is one of the leading European banking groups and is the leading financial backer of the French economy. Net Banking Product breaks down by activity as follows:
- retail banking (30.1%): activities in France (Crédit Lyonnais) and abroad. Furthermore, the group is present in France via its 39 regional networks of branches (making it the biggest French banking network);
- finance, investment and market banking (30.1%): standard and specialized bank financing activities (financing for acquisitions, projects, aeronautical and maritime assets, etc.), stock operations, consulting in mergers and acquisitions, investment capital, etc.;
- asset management, insurance and private banking (25.9%);
- specialized financial services (13.9%): consumer loan, leasing and factoring (No. 1 in France).
At the end of 2023, Crédit Agricole S.A. managed EUR 835 billion in current deposits and EUR 516.3 billion in current credits.
NBP is distributed geographically as follows: France (46%), Italy (20%), European Union (14.3%), Europe (7.2%), North America (6%), Japan (1.3%), Asia and Oceania (3 .5%), Africa and Middle East (1.3%), Central America and South America (0.4%).