Crédito Agrícola Group
Meet your partner in Portugal
A Brief Presentation
Index
2
1
History and Ownership Structure
2
Key Financials
3
Competitive Landscape
4
Value Proposition
5
Industry Awards
6
Main Contacts
The Crédito Agrícola Group has a remarkable
century-old history in Portugal
Over 100 years of history generating value for members, customers, local communities and employees
1896
The first
agricultural
co-operative
credit law is
created to
serve farmers
seeking funds.
1929
For political
reasons, control
over agricultural
loans and other
specialized
credit was
transferred to
a State-owned
Financial
Institution.
1911
Crédito Agrícola
was formally
created in Portugal,
under a co-operative
structure. Its model,
notwithstanding
adaptations from
time to time, is still
current.
1978
The National
Federation of
Agricultural
Co-Operative
Credit Institutions
(FENACAM) was
created to support
and represent
the interests of
its members,
both national and
internationally.
1976
Following the
revolution in 1974,
all private financial
institutions were
nationalized, except
for Crédito Agrícola
and non-Portuguese
financial institutions.
1984
Caixa Central
is founded to
become the
financial head
of the Group.
1982
Crédito Agrícola
reaches autonomy
from the Stateowned Bank and
the network’s
dispersion reaches
its peak with 223
local banks.
1992
Beginning of
international
business
activity.
1991
Caixa Central
was empowered
with the mission
of supervision,
guidance
and financial
representation of
SICAM (comprising
the local banks and
Caixa Central itself).
2011
Crédito
Agrícola
celebrates
its 100th
birthday.
1994
Caixa Central
broadens its
scope of activities
(universal bank)
and invests in other
businesses (beyond
retail banking) to
provide a global
financial service.
2013/2015
Crédito Agricola
begins a
reorganization
process as part of a
corporate strategy
to reinforce the
Group’s business
and positioning
in Portugal and
abroad.
3
Comprehensive geographical coverage
Crédito Agrícola Group’s Current Network Footprint
● The Crédito Agrícola Group covers most of continental Portugal
and the Azores Islands
1.2 MILLION
CUSTOMERS
● Crédito Agrícola Group’s presence is visible in 291 out of 308 municipalities
in Portugal (94%) through a network of nearly 700 branches complemented with
automatic teller machines (ATM).
● Crédito Agrícola covers 640 Portuguese parishes out of 3,092 (21%) with
branches and complements this network with 770 ATM off-premises.
400,000
MEMBERS
4
700
BRANCHES
● In 622 parishes, Crédito Agrícola has no competition and:
- In 222, Crédito Agrícola has the only existing branch
- In 400, the only connection to the banking system is provided by
a Crédito Agrícola’s ATM.
The Group has accelerated the process of mergers
to reach the optimal scale to act in each local market
Local Banks: Number and Dimension (2003-2014)
2014
2009
2008
2005
2003 2004
67
2006
92
82
72
9
162
2007
128
117
103
6
3
125
120
115
110
105
100
Net Assets per Local Bank (EUR Million)
95
90
85
Average number of locations per Local Bank
12
80
Number of Local Banks
Some Local Banks have decided to merge in order to reach the optimal dimension, not only in terms of organizational structures (e.g. commercial,
risk, operational support), but also in terms of capital structure to finance corporate projects on a regional scale.
5
The Crédito Agrícola Group comprises 83 Local Banks,
Caixa Central, Specialized Companies and Fenacam
The Crédito Agrícola Group Shareholding Structure
Crédito Agrícola Group
SICAM
Local Bank (CCAM)
Local Bank (CCAM)
...
100%
Head of the Group
FENACAM
(Caixa Central)
Holding
(Crédito Agrícola SGPS)
CA Vida, SA
CA Imóveis, Lda
CA Seguros, SA
CA Consult, SA
CA Gest SGFIM, SA
Agrocapital SCR, SA
Participations
in Funds
Participations
in Companies
and other Funds
6
CA Serviços, ACE
CA Informática, SA
Local Banks
●
83 Local Banks (“CCAM”) represent
the core of the Crédito Agrícola
Group, with:
> 400,000 Members
> 1,200,000 Customers
Assets Management
(CA Gest SGFIM, SA)
●
Fund and Assets & Liabilities
Management
●
●
SICAM
Private Equity
(Agrocapital SCR, SA)
●
●
Sistema Integrado do Crédito
Agrícola Mútuo (“SICAM”),
develops Bancassurance
activities and sells other finantial
products and services.
Insurances
(CA Seguros, SA / CA Vida, SA)
●
Non-life and Life Insurance
companies use the Group´s
retail network to distribute their
offer which is widely recognized
in the market.
Private equity company that
manages risk capital funds
invested in industries such
as agriculture and forestry.
FENACAM
●
Federação Nacional
das Caixas de Crédito Agrícola
Mútuo, was the first structure
with national coverage aiming to
preserve the Local Banks (“CCAM”)
interests and to represent them
in Portugal and internationally.
Head of the Group
(Caixa Central)
●
C
aixa Central de Crédito
Agrícola Mútuo, CRL,
is a co-operative bank with
responsibility regarding the
Group’s coordination and joint
banking strategy development,
institutional representation
(including domestic clearing and
capital markets), supervision
and guidance (as empowered
by the Central Bank), Group’s
treasury and liquidity
management, shared services
provision and retail bank for the
Lisbon and Oporto markets.
Software & IT /
Communications
(CA Informática, SA /
CA Serviços, SA)
●
Responsibility for providing
software development services
and IS/IT and communications
equipment purchasing services
provision (shared services).
7
SICAM is represented by Caixa Central, upon which powers were
conferred in the areas of oversight, intervention and guidance of banks
0.10%
(1) FENACAM
100%
FCR Central Frie
FCR Agrocapital 1
Crédito Agrícola
SGPS
100%
96.72%
Agrocapital SCR
79.20%
32.66%
CA Vida
SICAM
Caixa
Central
100%
100%
100%
100%
CA Seguros
CA Informática
20.25%
0.58%
86.15%
CA Serviços
12.27%
60.74%
FII Imovalor CA
39.26%
13.97%
FII CA Arrendamento
Habitacional
86.03%
0.98%
10.00%
27.78%
(1) FENACAM owns 98.77%
of its own shares > total GCA = 99.98%.
8
57.26%
28.57%
3.33%
66.67%
Caixas
Associadas
100%
CCAM Gestão
de Investimentos
Unipessoal Lda.
(2) CA Finance
1.11%
0.68%
CA Imóveis
CA Gest
7.13%
FII CA Imobiliário
92.77%
CA Consult
(2) In dissolution process.
Full consolidation
method
Equity
method
Updated to 30.04.2015
Index
1
History and Ownership Structure
2
Key Financials
3
Competitive Landscape
4
Value Proposition
5
Industry Awards
6
Main Contacts
9
Crédito Agrícola is one of the leading Portuguese financial groups,
with net assets over EUR 15 Billion
Crédito Agrícola Group’s Key Financials
(In EUR Million; as of 31st Dec)
Resources from customers (on & off balance)
… of which Deposits
… of which Funds and Capitalization Insurance (a)
Loans to Customers (gross)
Loans to Customers (net)
Total Net Assets
Net Equity
Common Equity Tier 1
Core Tier 1 Capital Ratio (Basel II) (b)
Solvent Ratio (Basel II) (b)
Net Loans to Deposits Ratio
Financial Margin
Commissions (net)
Insurance Technical Margin
Gross Income (Operating Profit)
Net Profit
Efficiency Ratio (%)
Return on Equity (%)
Return on Net Assets (%)
Local Banks (#)
Branches (#)
10
2010
2011
2012
2013
2014
10,927
9,939
988
8,606
8,041
14,224
1,122
n.a.
12.7%
13.4%
80.9%
335
93
5
478
36
68.3%
3.2%
0.2%
85
689
10,944
9,821
1,123
8,587
7,914
14,241
1,047
n.a.
12.5%
12.7%
80.6%
381
97
10
505
55
65.4%
5.3%
0.4%
84
686
11,413
10,113
1,300
8,365
7,660
15,113
1,100
n.a.
11.6%
10.9%
75.7%
367
102
-4
493
45
67.0%
4.1%
0.3%
84
686
11,763
10,123
1,640
8,199
7,472
14,621
1,141
n.a.
11.9%
10.8%
73.8%
307
101
-9
486
-3
68.2%
-0.3%
0.0%
83
683
12,513
12,537
1,976
8,147
7,261
15,051
1,211
13.1%
n.a.
13.1%
68.9%
307
101
-21
577
27
57.5%
2.2%
0.2%
82
683
(a) Includes mathematical
provisions and financial
liabilities under insurance
contracts, within SICAM
perimeter, considered for
accounting purposes.
(b) Note that ratios were
calculated according to
the applicable accounting
principles (PCSB for 2002
to 2006; NCA for 2007;
NIC and Basel II from 2008
onwards).
On December 2014, Crédito Agrícola’s market share accounts
for 6.47% of deposits and 3.88% of granted loans
Crédito Agrícola’s Market Shares
Geographic Market Share - Deposits
CA Group
Market Share: 6.47%
Geographic Market Share - Granted loans
CA Group
Market Share: 3.88%
Source: Portuguese Central Bank (Banco de Portugal); December 2014
11
Index
12
1
History and Ownership Structure
2
Key Financials
3
Competitive Landscape
4
Value Proposition
5
Industry Awards
6
Main Contacts
In 2014, Crédito Agrícola ranked 3th in terms of number of branches in
Portugal, had the lowest liquidity ratio and the highest CET1 ratio
Benchmark among the 8 major Financial Groups in Portugal – 2014
Branches in Portugal (#)
Common Equity Tier 1 (BIS III) - phase in
2nd
3th
1st
695
683
720
637
12.0%
631
611
13.1%
15.1%
10.5%
10.2%
436
8.4%
10.8%
9.6%
Minimum:
7%
223
A
B
C
D*
E
F
G
A
B
Loans to Deposits Ratio (%)
109%
117%
106%
108%
106%
C
D*
E
F
G
Return on Equity (%)
95%
126%
69%
Indicative
Liquidity
Ratio Cap:
120%
2.2%
8.4%
1.4%
-3.6%
-6.3% -7.2%
-8.4%
-36.8%
A
B
C
D*
E
F
Source: Bank’s results by December 2014
G
A
B
C
D*
E
F
G
* Reference to June 2014.
13
Crédito Agrícola shows a lower-than-average cost-to-income ratio,
being the sole bank to maintain its retail network (# of branches)
Cost-to-Income Ratio (2014)
Retail Banks in Portugal (# branches)
Bank
88.3%
75.5%
70.9%
51.6%
47.3%
A
66.8%
B
46.7%
44.6%
C
D*
E
* Reference to June 2014.
14
F
G
Average
Cost-to-Income
Ratio: 61.6%
Dec. 13
Dec. 14
Variation
A
774
695
-79
B
683
637
-46
SICAM
683
683
0
C
625
611
-14
D
456
436*
-20
E
295
223
-72
F
737
720
-17
G
643
631
-12
TOTAL
4,896
4,636
-260
In 2014, the 8 major Banks in Portugal closed
260 branches.
Index
1
History and Ownership Structure
2
Key Financials
3
Competitive Landscape
4
Value Proposition
5
Industry Awards
6
Main Contacts
15
As a universal bank, Crédito Agrícola offers a wide range of financial
products and services to individuals and corporations
Savings and
Checking
Accounts
Corporate accounts
(Euro or foreign currency)
● Direct debits
● Standing orders
● Payment management
●
Cash deposits
Fixed and variable rate Savings
● Structured deposits
Support service
for payments
and receipts
Transfers
Payments of wages and suppliers
● Salary management
● Direct Debit Systems
●
●
●
Deposits
Investment
Accounts
Electronic
Payments
Systems
16
●
Custodian operations and Market orders
Structured products
● Mutual investment funds
● Portfolio management
Mortgage loans
Consumption credit
● Cash advances / Overdrafts
● Credit for investment
● Commercial paper issuing
● Current-account credit facility
●
Loans / Credits
(individuals and
corportate)
●
Leasing &
Invoicing
discounting
●
●
●
Debit & credit cards
Corporate credit cards
● Co-branded and private labels
● POS & ATM
●
●
Vehicle leasing
Equipment leasing
● Real Estate leasing
● Invoice discounting
●
NON - EXHAUSTIVE
Trade Finance
Correspondent Banking
● International payments
● Emigrant remittances
● Tax-efficient investments
Asset
Management
Life and Health insurance
Retirement / education insurance
and savings & pension funds
● Property and casualty insurance
● Professional and personal responsibility
Management
& Financial
Advisory
●
International
Business
●
●
Life & Non-life
Insurances
●
Cash management
Money and capital markets
● Financial instruments
● Foreign Exchange
● Securities brokerage and custody
● Commodities risk management
●
Specialized
Financial
Services
●
Structured products
Securities investment Funds
● Real Estate investment Funds
● Integrated asset management
●
●
Business & corporate strategy
Mergers & acquisitions
● Corporate finance
● Organization & governance
● Internationalization
●
●
Operational management:
Mandates:
- FCR Central – FRIE
- FCR Agrocapital 1
Co-management:
- FEII Floresta Atlântica
● Other financial instruments
●
Venture
Capital &
Vehicles
(mandates)
17
Crédito Agrícola Group’s Corporate Mission, Core Values
and Development Strategy
Corporate Mission
Development Strategy
To be the driver for the sustainable development of
local communities, through long-term relationships
with customers based on proximity and wich
contribute to fulfil their financial and protection needs
and expectations (“one stop shopping”).
To be recognized as a role model in the financial
industry among members, customers, regulatory bodies,
partners, employees and the other stakeholders.
To satisfy customers’ financial and protection
needs, as well as to fulfil their financial aspirations
Core Values
To focus on targeting business opportunities
that are expected to return on-going profitability
and enhance the co-operative values
Soundness
Trust
Proximity
Simplicity
Co-operative values
18
To promote the local communities development
To leverage sustainable investment projects
To improve relationship with customers through
lean processes that support an excellent service
To focus on targeting business opportunities that
are expected to return on-going profitability and
enhance the cooperative values
Crédito Agrícola Group’s communication strategy is focused
on transparency and simplicity to customers and members
19
Beyond its 683 branches, the Crédito Agrícola Group
offers state-of-the-art electronic interfaces in the digital world
683 Branches
CA On-line / CA Imóveis
20
> 1.400 ATM and B24
CA Mobile
Call Center 808 20 60 60
www.creditoagricola.pt
Facebook / Instagram
The Crédito Agrícola Group is enhancing its international
presence through investment and commercial agreements
CA geographical footprint (2015)
Domestic network
Representative Offices
EUROPE
Agents
Germany
IFI / SFE
AFRICA
AMERICA
Portugal
Angola
Canada
Belgium
United Kingdom
South Africa
U.S.A.
Partnerships
France
Switzerland
Cape Verde
Venezuela
Bank (Planned)
Luxembourg
Mozambique
21
Index
22
1
History and Ownership Structure
2
Key Financials
3
Competitive Landscape
4
Value Proposition
5
Industry Awards
6
Main Contacts
Recognition of Crédito Agrícola Group’s excellence
by the banking and insurance industries
Portuguese Industry Awards for Crédito Agrícola Group
Awarded by EXAME:
(Portuguese economic magazine)
Most Profitable
Bank in its
Segment
Best Major Life
Insurance
Company
Best Non-Life
Insurance Company
in its Segment
• in Exame 2012
• in Exame 2012, 2006
• in Exame 2013, 2010
2009, 2008
23
Crédito Agrícola:
a positive reputation in the global banking industry
“
Based on 2013 Balance Sheet, Crédito Agrícola is ranked by The Banker
as 493rd in the World by Tier One Capital, 544th by Assets, 394th in the
World by Soundness of Capital/Assets ratio and, in relation to Portugal
only, the 2nd by Soundness of Capital/Assets ratio, 4th by ROA, 4th by
Profits on Capital, 7th by Tier One Capital size and 8th by Assets.
Source: The Banker, July 2014 “Top 1000 World Banks 2014” special issue
“
24
Based on the 2013 Balance Sheet and strictly by Assets, Crédito Agrícola
ranks 726th in the World and 6th in Portugal.
Source: Accuity Bankers’ Almanac On-Line
Crédito Agrícola:
natural partner for the development of local communities
In over 100 years of activity, Crédito Agricola has contributed to
economically, socially and culturally develop the regions where
Local Banks are integrated (co-operative principles and values
being an intrinsic feature).
25
Index
26
1
History and Ownership Structure
2
Key Financials
3
Competitive Landscape
4
Value Proposition
5
Industry Awards
6
Main Contacts
Contacts:
Caixa Central – Caixa Central de Crédito Agrícola Mútuo, C.R.L.
Rua Castilho, 233/233A, 1099-004 Lisbon, Portugal
www.creditoagricola.pt
International Business
Compliance
Financial
Tel.: (00) 800 11 17 11 17
Tel.: (+351) 21 380 56 33
Fax: (+351) 21 380 56 32
Tel.: (+351) 21 380 55 35
Fax: (+351) 21 387 45 86
Mr. João Barata Lima
Department Head
[email protected]
Mrs. Helena Aparício
Department Head & Compliance Officer
[email protected]
Mr. Manuel Moreira Lima
Department Head
[email protected]
Mr. Duarte Vidal
Correspondent Banking
& Trade Finance
[email protected]
27
Crédito Agrícola Group
Your banking choice in Portugal