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Credit Agricole tops the social responsibility rating among banks according to Standard-Rating

04 October 2022

Credit Agricole has been ranked first in the social responsibility rating of the banking sector, created by Standard-Rating based on the 2022 half-year results. The rating agency commended the bank’s contribution to the economy of Ukraine. The bank has paid UAH 100 million in taxes in advance, while issuing UAH 1.2 billion in loans under the “Affordable loans 5-7-9%” state program, the majority of which went to the agrarian businesses. On the whole, Standard-Rating noted over 20 initiatives from Credit Agricole to support Ukrainians during the war.

We direct our collective efforts towards supporting the customers, employees and society in the time of war. Being the strategic partner of the agrarian business, we continue issuing loans to our customers: we supported them during the spring sowing and now we are financing the harvesting of crops. Under the corporate social responsibility program We Care! we allocated almost UAH 20 million for various charity projects, primarily for the procurement of medical equipment for hospitals and to support those affected by the war. It is a record amount in the history of the bank’s operation on Ukrainian market. As a responsible employer, we guaranteed work places to all our staff members, as well as payment of salaries and social benefits in full, offered assistance with evacuation to those who needed it. We keep doing the good deeds, as we believe that this is the way to advance the peaceful future in Ukraine”, comments Stephane Fallick, Member of the Management Board at Credit Agricole Bank.

When compiling the rating of social and corporate responsibility of banks, Standard-Rating considered formal indicator such as banks’ corporate income tax expenses, their participation in the market of the wartime domestic government bonds, as well as informal indicators of social activities reported by banks themselves: terms for borrowers during the war period, participation in the social projects, humanitarian missions, financing of projects associated with strengthening the defense of cities and relocation of the forced migrants. Learn more about the rating results here

Credit Agricole has significantly increased the amount of charitable aid for Ukraine this year due to the war. The Bank allocated almost UAH 20 million to support the hospitals and assist those affected by the war. All the good deeds are done by Credit Agricole under the corporate social responsibility program We Care! that encompasses charity, volunteering, eco initiatives and care of the employees. More about We Care! here

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