In the unprecedented context of the health crisis, the Board of Directors focused on business continuity while ensuring the safety of employees. An exceptional mobilisation resulting in support measures by the government and initiatives specific to the Group.
Thanks to its financial strength, as one of the most solid European banks, and with its motto, the Group’s Raison d’Être, “Working every day in the interest of our customers and society”, its action was guided by the desire for the Group to play its role to the fullest in the strategy to move forward from an economy halted for health protection reasons to a normalised economy deployed by the public authorities.
At the same time, the Board has endeavoured to learn the lessons of the crisis, notably with regard to the accelerations and changes it has caused in the behaviour and needs of customers, with special attention to the digital offer and remote services, while preserving a physical access to account managers. It pursued its efforts to continue work on the societal and environmental pillars of the Medium-Term Strategic Plan with, for example, its support in the creation of a Crédit Agricole Group solidarity fund for the elderly, the mutual gesture for the operating losses of business customers, and actions in favour of a fair and inclusive environmental transition.
In an environment marked by the short and medium-term uncertainty, the ongoing discussions between the Board and General management reflected the same desire on both sides for a balance between the vital support to the economy and the control of risks. In 2020, the Board held 12 plenary meetings, including a seminar dedicated to the impacts of Covid for its main business lines. The Risk Committee met 14 times, including 8 times jointly with the Audit Committee.
