Integrated Report 2020-2021

Key points

2. Meeting the challenges of tomorrow

Key points

2020 will be remembered as an unexpected year, if not unpredictable, which not only called into question everything we took for granted (health safety, the free movement of persons, the rule of free trade, etc.) but also exacerbated the already rising uncertainties. It also brought its share of comforting proofs: role of the State as planner and arbitrator of the common good, the existence and resilience of local and human networks and exchange, and the widely prevailing shared values of benevolence and caring for others.

In this context, the Group demonstrated the strength of its model through its good results and positive momentum, with a return to “normal” levels of activity at the end of the year. The Group’s revenues therefore continue to grow, along with its increased cost control.

In 2020, more than ever, this strength was put to the service of customers and society, with the Group’s full participation in the effort to hold up the economy and the support it provided to each corporate or small business customer affected by the crisis.

TIER 1 CAPITAL

No. 1

bank in the European Union

In terms of Tier 1 capital as at 31 December 2019
Source: The Banker, July 2020.

Jérôme Grivet

Deputy General Manager
Group Finance

The Group, the No. 1 provider of financing to the French economy, was also its top banking support during the crisis. This support was notably reflected in the more than €30bn in State-guaranteed loans granted over the year. »

The crisis also highlighted the relevance of the Group Project defined in 2019 and built around three pillars.

  • The ability to meet customers’ needs in all possible channels, from the most traditional to the most innovative, to rapidly offer tailored solutions and provide access to a responsible and empowered human was key during the crisis and reflects the philosophy implemented by the Group in the framework of its Customer Project.
  • • All of this would not have been possible without the unfailing dedication of all of our employees, their full adherence to the common project and their day-to-day commitment. The deployment of the Human-centric Project has thus simplified and streamlined our internal organisations to empower each person and give them full autonomy.
  • Lastly, our collective awareness of the vulnerability of our societies confirms more than ever the importance of our social commitments and underpins our choice to place our Societal Project at the heart of our actions and our Raison d’Être. The Group therefore comes out of 2020 convinced more than ever of the relevance of its universal customer-focused banking model, reinforced in its development strategy and proud of its Raison d’Être and its employees.