Development of car lending, comprehensive service for IT and even more social initiatives

Column by Oleksandr Kurkin, Board Member at Credit Agricole

If I was asked about Credit Agricole’s 2023 results and the bank’s ambitions for 2024, I would respond as follows: support of employees and customers, special focus on car lending and services for IT customers, even more social initiatives and contribution to the economy of Ukraine. Being a reliable partner for our customers is Credit Agricole’s main objective. Our stability and comprehensive expertise enable us to offer our customers daily support and help them build plans and develop projects even in the context of war and uncertainty.

Certainly, symbiosis of digital technologies and face-to-face communication with customers, personalized approach and search for solutions are what customers value the most now and what sets us apart from the competitors on the market. Thanks to continued investment in digital and coherent team work, we keep supporting our customers and uninterrupted operation of processes within the bank.

Last year, Credit Agricole was included in the list of systemically important banks, which is a key milestone in our growth and an even higher standard of responsibility before the society. Recently Credit Agricole was recognized as the most resilient bank in the rating by Dragon Capital and «NV» magazine. Thanks to our customers, support from the Group and effective management, the bank’s net financial results for 2023 equalled UAH 2.8 billion, while the total amount of taxes and contributions paid is UAH 3.3 billion. Through its successful operations, the banking sector boosts the economy of Ukraine, as per the IMF requirements, 50% of the net profit is allocated to the state budget of Ukraine. This is how we contribute to the stability of the country in the wartime. Also, Credit Agricole is the bank of good deeds: since the war broke out, we allocated nearly UAH 100 million to charity.

We grant loans on favourable terms and help make car dreams of our customers a reality

Car lending is among our strategic segments, in which we traditionally occupy one of the leading positions. Our market share in car lending is 26%. The Ukrainians are buying cars on a loan increasingly often and Credit Agricole is among the few banks on the market that is currently offering loans. We issued nearly UAH 2 billion worth of car loans in 2023.

The customers choose us for various reasons and the key ones include our 15 years of market experience and the ISO 9001 certificate in automotive lending. In practice this translates into the high level of expertise of our managers who will find a personalized solution for everyone, well-established processes and the guarantee of the high-quality service. No hidden commissions or payments. We are cultivating our relationship with customers and partners on the principles of transparency, loyalty and ethics.

We are offering a wide range of lending programs and exclusive programs with the official dealers of the most popular brands: Peugeot, Citroen, DS, Jeep, Opel, Toyota, etc. That is why people of diverse professions and age groups from all over Ukraine come to us to have their financing needs met.

As of now we have reached nearly 70% of the pre-war sales and we keep progressing.

Code of Trust is the comprehensive solution for IT customers

We want the IT professionals to take the maximum advantage of service by Credit Agricole, so we have adopted a complex approach to their needs. At the end of 2023 we launched the “Code of trust” 一 the comprehensive solution for IT customers that addresses the needs of IT companies as well as individual developers, accountants and business owners in Ukraine or abroad. We offer a full range of products and solutions: online on-boarding for PEs, payment card delivery overseas, modern internet banking CA+ Pro, which we developed with private entrepreneurs in mind. The СА+ Pro enables our customers to do their daily banking anywhere they find convenient – at home, in a coffee shop, co-working space or workshop. Among its highlights is the option to get electronic signature directly in the СА+ Pro and the payment import function, which considerably facilitates the work of an accountant or a trusted person.

We are aware that the time is valuable and we do not want our customers to have to waste it on routine financial tasks. We are offering the convenient mobile app СА+ for managing one’s own funds. By the way, it is among the top three market leaders based on App Store and Google Play Store user feedback.

In 2023, we also expanded our network of partners and like-minded people, there has been a lot of networking with IT companies. We started partnership with Kharkiv IT Cluster, Kyiv IT Cluster and IT Dnipro Community, as well as continued our cooperation with Lviv IT Cluster. Jointly with our partners, we held a number of engaging events, namely business breakfasts, networking events and lectures.

In France, Credit Agricole Group has established itself as a reliable partner for the IT industry. The Group makes significant investments in the development of innovations and start-ups, in particular it has its own in-house accelerator Le Village by CA. And we envision expanding our partnership with IT companies and implementing the best international practices in Ukraine.

Network development

Maintaining personal contact with customers is paramount for us, so we invest in the network, rebuild outlets on the de-occupied territories as well as those damaged by the shelling. For instance, we have restored our outlet in Borodianka and would love to do the same in Kherson and Kupiansk when it is safe to do so.

We are getting ready to present a new 2-storey outlet in Kyiv. Its team will be ready to serve all customer segments: individuals, premium and IT customers, businesses.

Over 50 of our outlets are connected to the Power Banking network that can keep operating even during blackouts. As a socially responsible business, we also work on the principle of inclusion. Half of all outlets of the bank’s network are accessible via ramps and even in the wartime we keep investing to increase this number.

Emphasis on social responsibility and our contribution to the recovery of Ukraine

We have yet again confirmed our leading positions in the agrarian lending, which is essential for the economy of Ukraine and world food security. We have been working with the agrarian business for 15 already, the bank’s market share in Ukraine is 8%. Recently Credit Agricole was recognized as the best bank for agribusiness according to “TOP-100. Ratings of the Largest” and Delo.ua rating.

The bank signed agreements with the EBRD and IFC to increase financing of the Ukrainian economy by another EUR 90 million. We work on attracting foreign investments to Ukraine.

One of our important areas of activity is charity. In the wartime, the Credit Agricole Ukraine and the Group have allotted nearly UAH 100 million for various charitable projects, primarily for the procurement of medical equipment for hospitals with the assistance of Your Support charity foundation. This amount is one of the largest among banks, it was used for buying 70 units of medical equipment for 20 hospitals and 2 ambulances for providing intensive care. The bank has recently donated UAH 5.6 million worth of medical equipment to three regional hospitals in Vinnytsia, Lviv and Dnipro. Credit Agricole is working for the benefit of its customers and society.