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On 18 April 2008, Credit Agricole revealed that it would post $1.2 billion in losses related to subprime mortgage securities. In May 2008 Credit Agricole sought to raise €5.9 billion in equity capital from its shareholders. The shares controversially sold off from €19 to €6 over the successive period as the financial crisis escalated. [44]
Crédit Agricole Indosuez (CAI) was created in 1996 with the purchase of Banque Indosuez by Crédit Agricole. Calyon was created in May 2004 by the transfer to CAI of assets from Crédit Lyonnais's Corporate and Investment Banking division. The division was rebranded Crédit Agricole Corporate & Investment Bank (CACIB) in February 2010.
Crédit Agricole Italia S.p.A., formerly Crédit Agricole Cariparma S.p.A., is an Italian banking group, a subsidiary of French banking group Crédit Agricole. Crédit Agricole Italia was ranked as the 11th largest bank in Italy by total assets at 31 December 2015. [ 2 ]
The CAM traces its origins to the dahir or Royal Decree of 1961 that established a National Agricultural Credit Bank (French: Caisse Nationale du Crédit Agricole, CNCA) inspired by the namesake French institution (est. 1920 and under that name since 1926), the national entity of the decentralized Crédit Agricole group.