Introduction
In 1872, Crédit Lyonnais was founded in France, the oldest commercial bank in Europe. Its headquarters is located in the French capital Paris. As an international bank, Crédit Lyonnais has the following institutions:
-Banque Européenne pour l’Investissement (BEI)
- Banque Rhône-Alpes (BRA)
- Groupe Crédit Lyonnais (GCL)
- And a large presence in Europe, America, and Asia
History of Crédit Lyonnais
Crédit Lyonnais is the oldest and still one of the largest commercial banks in Europe. Originally founded as a cooperative of small producer banks in 1872, it was granted the full status of a bank by the French government in 1895. It has been involved in a series of successful attempts to unify the commercial banking sector in France and abroad in the late 19th and early 20th centuries.
In 1998, LCL and Caisse dEpargne merged and the new entity, Crédit Lyonnais, became the largest retail bank in France. In 2003, it became a public limited company with more than 34,000 employees. As of 2009, it is the fifth largest bank in France.
Despite its public ownership, the bank was sold to various international interests. In 2003, Crédit Agricole, the owner of Crédit Lyonnais, sold a controlling stake in the bank to the Italian bank UniCredito, who then sold its stake in the bank to the French insurance company AXA in 2005. In 2015, PNB Paribas acquired a majority stake in Crédit Lyonnais and in 2018, Crédit Lyonnais merged with another large French bank, Crédit Agricole, to form a joint entity, Groupe Crédit Lyonnais.
Business scope of Crédit Lyonnais
Crédit Lyonnais provides a full range of banking services and is divided into five main sectors. These are: Retail banking and Financial services, including retail banking, investment banking, asset management and private banking; Wholesale banking, including corporate banking, financial markets, structured and project finance and capital markets; Commercial banking and Insurance; Payment services, including credit cards and online banking; and Investment management.
The bank offers a wide range of products and services, including mortgage financing, real estate lending, automobile financing, fixed income investments, equities, mutual funds, and money market accounts. It also provides services such as payments, collection and disbursement, wealth management, international banking, capital markets, and insurance. Crédit Lyonnais also offers corporate finance services such as corporate loans, corporate bonds, structured finance, project finance, private equity, and mergers and acquisitions.
Conclusion
Crédit Lyonnais is one of the oldest and largest commercial banks in Europe, with a long and successful history in both merging the banking sector in France and abroad, and providing services to individuals and corporations. It offers a wide range of banking and financial services, including retail banking, wealth management, investment banking, corporate finance, capital markets, and insurance. With a large presence in Europe, America and Asia, Crédit Lyonnais is well-positioned to provide the highest standard of service and secure its position in the global banking landscape.
