(Finance) – Credit Agricole has communicated that it has suspended all services in Russia. The French banking group had already suspended, since the beginning of the conflict, new loans to Russian companies and all commercial activities in Russia. It has now contacted its international corporate clients to define the procedures for suspending the services provided locally by Crédit Agricole CIB, with effect in the next few weeks.
In the note announcing it, it is recalled that the subsidiary Crédit Agricole CIB in Russia has 170 Russian employees, does not have a retail banking activity and last year generated a net profit of 3.7 million euros.