Crédit Agricole has been named Western Europe’s best bank, in Euromoney’s Awards for Excellence for 2020. Its partnership approach to cross-border expansion in Europe put it at the forefront of regional banking-industry consolidation.
“Under Philippe Brassac – and more than any other bank – Crédit Agricole and its subsidiaries have already proved attractive partners for other European banks with capital problems or product inefficiencies,” the magazine said.
This partnership approach advanced strongly over the last year, allowing the group to further strengthen its product factories, and to boost income at a time when negative rates were crippling net interest margins in Europe. Crédit Agricole was also France’s best bank.
BNP Paribas won the best investment bank, as it demonstrated its increasing importance to capital markets across the continent, even as it stepped up its transformation plan and took a hard look at costs.
It was, in addition, the region’s best bank for financing, as it made progress in both equity and debt capital markets and continued the build-out of its sustainable finance franchise.
BNP Paribas also won best bank for corporate social responsibility, and France’s best investment bank.