These advances were used to finance loans to farmers. However, with the launch of five-year notes in the 1940s and the regular issue of notes by the Caisse Nationale, Crédit Agricole was able to fund itself by drawing on French people’s savings. In 1963, Crédit Agricole became financially independent and no longer called on government financing.
Over the course of this decade, Crédit Agricole changed profoundly. With a growing network and employees gaining expertise in the bank’s businesses, it was on the front line in financing the modernisation of farming. The possibility of granting housing loans to all people in rural areas also made it a key player in local areas and in the fight against rural depopulation.
The 1960s were also important for the diversification of Crédit Agricole’s activities. With the aim of meeting the needs of all players in the agri-food sector, it created its first subsidiaries to acquire stakes in various companies (Sofidéca in 1962, Union d’études et d’investissements in 1967). These new companies served as the basis for its corporate and investment banking business.
In 1969, Crédit Agricole entered the equipment and real estate leasing market with the creation of subsidiaries Unimat and Unicomi to meet the equipment needs of professional farmers
With the aim of meeting the needs of
the various players in the
agri-food sector, Crédit Agricole
created its first subsidiaries to
acquire stakes in various companies
(Sofidéca in 1962, Union d’études et
d’investissements in 1967).
