AGRICULTURAL CREDIT: the AGM will be held without the physical presence of the shareholders

(hooly-news.com) – The Board of Directors of Crédit Agricole SA, after having noted the difficulties in forecasting the health status of France on May 13, 2020 and having considered, in any event, the improbable nature of a return to a normalized situation on this date, decided that the Combined General Meeting of May 13, 2020 will be held at 10:30 am without the physical presence of its shareholders.

Attentive to the fact that, in the present circumstances, the shareholders can exercise their rights in the best conditions, Crédit Agricole SA will ensure that the proposed system is in line with best practices, in particular in using the Internet for the fulfillment of formalities, to express their choices on the resolutions which will be proposed to them by postal vote and, finally, to ask questions in writing.

Crédit Agricole S.A. already invites its shareholders to regularly consult the section dedicated to the General Meeting on the company’s website www.credit-agricole.com which will be updated on the decisions taken. He recalls that, as every year and independently of the exceptional measures taken in the context of health crisis, the General Assembly will be broadcast on the company’s website.

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Finance – Banks

Life is hard for European banks! The latter are first subject to very strict regulation, which imposes capital and liquidity constraints (Basel III). American banks, which do not have these constraints, generate higher margins and dominate the lucrative niche of investment banking. In addition, low or zero interest rates weigh on profitability. Added to this is competition from Fin Tech and Gafa. Moreover, large establishments are buying fintechs to counter this technological threat. But the fight against Facebook or Google, which offer free services by paying for the use of payment data, looks very complex.