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Western EuropeJune 1 2016

Crédit Agricole shapes up to face difficult European market

Under new chief executive Philippe Brassac, Crédit Agricole has simplified its oft-criticised group structure and devised a new plan, aimed at strengthening core business lines, improving operational efficiency and transforming its digital offering. Brian Caplen reports on how these changes will affect the bank. 
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In his first year as chief executive of France’s largest bank, Crédit Agricole, Philippe Brassac has definitely made his mark. After years of analysts complaining about the complexity of the group’s structure, Mr Brassac has taken bold moves to simplify it.

He has put in place a medium-term plan that combines a big digital push with the cost cutting considered prudent against a backdrop of economic uncertainty and tighter regulation.

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