18
RUSSIA - FRANCE
I
n 1991, Crédit Agricole CIB AO
was the first foreign bank to get a
banking licence in Russia. Could
you tell us about themain steps in this
process?
The history of our activities in Russia
is closely linked to the establishment
of Crédit Lyonnais, which started
here in 1879. The Russian head
office of the Bank was in Saint
Petersburg even before the French
head office was transferred from
Lyon to Paris in 1883.
Russia was already a major country
for a bank that was specialized in
international commerce, with the
trade of raw materials between
Russia and Europe and from Asia to
Europe through Russia. These activities
were interrupted by the creation
of the Soviet Union. Crédit Lyonnais
was one of the first banks to open
a representative office in Russia, in
1972, followed by other European
banks.
Shortly after the fall of the Berlin
Wall in November 1989, Crédit
Lyonnais applied for a licence for a
fully-fledged banking activity in Saint
Petersburg. Six years later, in 1995,
the Moscow branch opened.
In 2003, after the Crédit Agricole
acquired the Crédit Lyonnais (which
later became LCL), this activity was
taken over by Calyon, which later
became Crédit Agricole CIB, the
finance and investment bank of the
Crédit Agricole Group. Today, the
head office of Crédit Agricole CIB AO
is located in Saint Petersburg: most
of the people working there are in
sales, while most of our staff mem-
bers are in Moscow. A total of 180
people work in the two locations.
What are its main fields of operations
today and who are its clients?
Historically, the mission of the Bank
after its arrival in 1972 was to
support the clients of the Crédit
Lyonnais in their projects in Russia,
mainly in their sales operations
and industrial investments in the
country.
Today, our basic strategy has not
changed: we support our non-
Russian clients in their development
in Russia. Due to the history of the
Crédit Agricole Group, our corporate
clientele consists of major interna-
tional corporations and SMEs & SMIs
that are supported in France by LCL
or by Crédit Agricole’s regional
banks. Due to our worldwide covera-
ge and the presence of Crédit
Agricole CIB in 34 countries, our
clientele also includes non-French
compan i es , such as German ,
Spanish, Italian, Japanese and
American clients.
We mainly support them in their
cash management, their short-term
and medium-term financing and
their currency management with
simple hedging products. And, natu-
rally, our clients ask us to advise
them during acquisitions.
We also support major Russian
corporate clients in their growth and
Formany years, Crédit AgricoleCIBAO, which is a recognized corporate and investment
bank in Russia, has been known for its close relations with its clients, both foreign
companies and its Russian corporate clientele.
Erik KOEBE,
Senior Country Officer of Crédit Agricole CIB in Russia
©DR
‘Our clients identify their needs
and we provide them with customized
support’
©DR
>
The first establishment of the Crédit Agricole Group inMoscow in 1879, with Crédit Lyonnais.
