The launch of Crédit Agricole CIB in Australia shows the appeal of a fashionable market
Today’s (January 4) announcement that Crédit Agricole CIB has opened as an authorized bank in Australia is the latest example of global banks and local entrepreneurs seeing opportunities in this busy market.
Crédit Agricole is not a new name in the city: it has been present in Australia since 1982, with a niche in structured finance alongside a presence in infrastructure, real estate and energy and coverage needs. that go with it.
But the new setup as a bank suggests a different strategy. Business and investor loan solutions will be added to the mix, while an onshore presence will be developed in the telecommunications, health and renewable energy sectors in particular.
“The new configuration… serves as a platform for the future growth of [our] Australian customers – mainly local financial institutions and large corporations, which will enable the bank to provide more comprehensive services to its customers, ”said Crédit Agricole.
The French bank also hopes to be able to conduct cross-border business between Australia and its global network, with a particular focus on global multinationals in Japan and Singapore that are active in Australia.
The news follows Barclays’ decision to become a core investor in Barrenjoey Capital Partners, a new full-service financial services firm in Australia, in September.