Crédit Mutuel Group - 2018 Activity Report PERFORMANCE OF THE BUSINESS MODEL Advantages allalong the scale PEOPLE SETTHE RHYTHM A SOUND BUSINESSSETS THE KEYNOTE _ Responsible values Strong in its foundations THE COOPERATIVE SYMPHONY As a cooperative mutual bank, Crédit Mutuel makes all In 2018, Crédit Mutuel achieved another year of good fi nancial its decisions with its members and customers in mind. performance in support of its members and customers: In its development it remains true to its founding values total net profi t hit a new high of €3,578 million and fi nancial A bank near you Serving everyone of local proximity, solidarity, and social responsibility.stability was further consolidated at the highest European Crédit Mutuel’s values are the hallmarks of its identity. standards, with shareholders’ equity attributable to the They set it apart and ensure the relevance and distinctivenessgroup rising 5.6% to €54.2 billion. With 5,700 branches, 2,100 Crédit Mutuel local banks With a customer-focused policy of diversifying products of a demanding entrepreneurial model that benefi ts both The keys to this success were: strong sales momentum and 30,000 advisors, the Crédit Mutuel network is born and services, a network of local banks and branches designed people and the economy. and the commitment of the group’s 82,000 employees to of a desire to stay as close as possible to customer needs.to act as local service centers across all contact channels, genuine close relationships with members and customers. At a time when many branch networks are shrinking, this a strong brand that inspires trust, employees who undergo renewed commitment to local presence allows Crédit Mutuelcontinuous training, an effective combination of maximum Constantly adapting to needs to boost entrepreneurial momentum in the regions on a decentralization and the standardization of businesses, Backed up by local daily basis while providing excellent quality of service.Crédit Mutuel’s growth model is a showcase for the power With a long-term strategy in line with its cooperative values, of individual initiative and its collective expression: Crédit Mutuel consistently pursues a timeless business multiservice banking cooperation. plan that adapts to the changing needs of its members. A community of interests As times change, it strives to adapt and reinvent itself In an environment of profound technological and social A true community with shared objectives and interests, so that everyone moves forward together. Its primary disruption, marked by persistent low interest rates, tough objective is the quality of its member and customer conditions in the fi nancial markets and increased competition Crédit Mutuel is a partnership that does not seek to enrich relationships and service, the cornerstone for trust and and regulation, the Crédit Mutuel group is stepping up a group of shareholders but rather to provide the best growth. the transformation of its business model based on a possible service to all, anywhere in the country. diversifi cation strategy that affects all its business lines; Close to its customers, it provides a rapid response to the it is enhancing both its position as a local multiservice bank concerns of 7.9 million partner members. 95% of lending decisions and its technological transformation, so as to constantly are taken locally. improve relationships and experiences between advisors and customers. A taste for a shared future Distinctiveness as an asset The high standards and performance of its cooperative The group is engaged in its surroundings and encourages model enable the group to keep a steady course and assert virtuous behavior, particularly where it has a large climatethe distinctiveness of a business model that aims to be impact. Convinced thatcollective progress will result in the leading local relationship bank. better shared growth , it follows a clear policy in favor ofThis distinctive approach proves itself year after year (in 2018, diversity and equal opportunities, training and gender World Finance magazine chose Crédit Mutuel as “Best French equality. banking group” and “Preferred banking brand in France” forthe 11 time) and guides its ambitions for the future.th 24 25