Soundness of our company
Crédit Mutuel Alliance Fédérale's financial strength and the excellent results obtained through various stress tests attest to its ability to deal with emergency situations.
The Group's performance in 2019 once again ranks it among the strongest banks in Europe.
What sets Crédit Mutuel Alliance Fédérale apart is its high level of equity, €47.1 billion in 2019, and a Common Equity Tier 1 (CET1) ratio of 17.3%, much higher than regulatory requirements, which attests to its very high solvency.
Fitch Ratings, Moody's and Standard & Poor's recognize its financial soundness and the relevance of its business model.
This soundness, which reflects the strength of its networks, the relevance of its model and its ability to support regional economies, ensures service continuity for its customers and members, whether individuals, professionals, companies, associations, etc.
Our insurance Group : Groupe Assurances du Crédit Mutuel (GACM) subsidiary is one of the strongest players in the market, with a Solvency II ratio of 242% and a dividend level of €5,507 million, i.e. 7.2% of in-force business, at the end of 2019.
Crédit Mutuel Alliance Fédérale group's liquidity ratio, 142.8% (average LCR for the year), at December 31, 2019, one of the best among French banks.
Crédit Mutuel Alliance Fédérale's total liquidity reserves stood at €134.6 billion at the end of 2019. They easily cover market resources due at 12 months.
With regard to our business continuity procedures
Involved people protection
Since the arrival of COVID-19 in France, Crédit Mutuel Alliance Fédérale has taken all necessary measures to protect its directors (or elected directors), employees, members, customers and service providers.
These measures are in line with the general policy of the public authorities and are regularly updated.
While taking all necessary steps to protect its employees - as all companies in France that must continue their essential activities based on the guidelines of the public authorities are doing - Crédit Mutuel Alliance Fédérale has adopted a set of measures to ensure business and service continuity. These include :
- activating Emergency and Business Continuity Plans (EBCP) for various business lines, particularly the most sensitive ones;
- systematically choosing remote tools (teleconferences and video conferences) for all meetings;
- distributing teams among different sites for some business lines;
- teleworking for employees for whom this is possible or necessary;
- postponing or canceling all non-essential events;
- reducing external personnel's access to sites and registered offices;
- suspending national and international travel.
For their day-to-day operations and to limit contact, customers of the Crédit Mutuel and CIC networks are encouraged to use remote banking tools or ATMs.
If necessary, appointments can be kept either remotely or in person under conditions that ensure maximum protection.
Crédit Mutuel Alliance Fédérale continues to actively support all its business and corporate customers at this difficult time and to offer them appropriate solutions, with the proximity characteristic of its model.