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The Crédit Lyonnais (French: [kʁedi ljɔnɛ], "Lyon Credit [Company]") was a major French bank, created in 1863 and absorbed by former rival Crédit Agricole in 2003. Its head office was initially in Lyon but moved to Paris in 1882. In the early years of the 20th century, it was the world's largest bank by total assets. [1]
LCL S.A. is a major French banking network that is part of the Crédit Agricole group, with registered office in Lyon and administrative head office in Paris, France. [2] It was established in 2005 from its predecessor the Crédit Lyonnais, and its name LCL refers to "Le Crédit Lyonnais".
The Crédit Lyonnais headquarters (the headquarters of the French bank Crédit Lyonnais, now LCL) is a Haussmannian style building located in the 2nd arrondissement of Paris. It is on the block formed by Boulevard des Italiens , rue de Gramont , rue du Quatre-Septembre and rue de Choiseul .
In 2005 he became the CEO of Crédit Agricole and LCL S.A. [1] He also became the Chairman of Calyon in 2007. [4] In 2008 he became the Chairman of the French Banking Federation. [1] He also represents permanently Crédit Lyonnais for the Fondation de France and Crédit Agricole SA on the Supervisory Board of Fonds de Garantie des Depôts. [1]
LCL S.A., the new name of Crédit Lyonnais, a French bank; League of Legends Continental League; Lee County Library (Georgia) Liberal and Country League, a political party in Australia; Lincoln City Libraries, the public library system of Lincoln, Nebraska; Loblaw Companies Limited, a food retailer in Canada
On 18 April 2008, Credit Agricole revealed that it would post $1.2 billion in losses related to subprime mortgage securities. In May 2008 Credit Agricole sought to raise €5.9 billion in equity capital from its shareholders. The shares controversially sold off from €19 to €6 over the successive period as the financial crisis escalated. [44]
Germain founded Crédit Lyonnais on 6 July 1863. [2] [3] It became the first bank in France to offer savings accounts with interest. [2]The first shareholders were Saint-Simon followers like Paulin Talabot (1799–1885), Barthélemy Prosper Enfantin (1796–1864), Arlès-Dufour, and Michel Chevalier (1806-1879). [2]
[2]: 78 In 1929, the CIC created a central body for its regional banks, the Union de banques régionales pour le crédit industriel. By then, it was the fifth-largest French bank by assets, behind the Crédit Lyonnais, Société Générale, Comptoir national d'escompte de Paris, and Banque Nationale de Crédit.