Business Strategy and Outlook| Johann Scholtz |
Credit Agricole S.A. is, in many ways, unique among European banks. It has a more diverse mix of operations. Its lower reliance on traditional banking activities reduces its exposure to credit and interest-rate risk, which could support greater earnings stability. But, it also means Credit Agricole S.A. stands to gain less from the return to positive interest rates. The relationship with its parent, the Credit Agricole Group, is a double-edged sword. It creates cross-selling opportunities but makes Credit Agricole S.A. a complex bank to understand.