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Credit Agricole: the mutual bank

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  1. Introduction
  2. Tax on personal income
    1. Persons subject to tax
    2. Different types of income
    3. Determining the rate and taxable income of individuals
    4. Regime of capital gains
  3. The domicile tax of French companies in Italy
    1. The different types of taxes subject to companies
    2. The different taxes companies are subject to: IRES, IRAP and VAT

Credit Agricole, a mutual bank and the first French bank created from its own funds, is a major player in economic development, particularly in the agricultural sector of the country. The group has evolved considerably since its origins to become a universal bank and international vocation. The purpose of this work is based on understanding the values that have enabled the Credit Agricole to grow and become a major player in a capitalist society. The issue remains whether the farm credit was able to retain its original value in this context of financial globalization and rise of competition. In the first part of this document, the foundations of mutualism are analyzed, before retracing the specifics of the organization of agricultural credit. In the second part, the document will examine the role and fate of values rooted in the development of Credit Agricole. Finally, it will conclude with the importance of Congress in this international banking group.

The purpose of this first part is to trace the origins of the construction of the Credit Agricole group. To fully understand the concept of mutual, before seeing its implementation at Credit Agricole it has to go back in time to its intial stages. The history of mutualism bank begins in the middle of the nineteenth century in the countries with the German Raiffeisen movement.

Friedrich Wilhelm Raiffeisen created in 1850, the first joint fund aimed at supporting rural economic development of farmers. Its action was based on the observation of rural poverty in a German company, which neededthe industrial revolution. To preserve the evils of usury in the countryside, it was to endorse the richest through borrowing by small farmers from the banks. Then, over time, the association thus formed solidarity was paid directly to farmers paid on the deposits it collects. It is from this type of association that have been built cooperatives, with two fundamental characteristics: they were mutual and local.

Over the same period, France was in full economic development, particularly with the rise of industry and commerce. These changes were strongly supported by the banking system at the time, who saw significant sources of profit.

Indeed, French agriculture, comprising at that time 17.5 million and 6 million farms, was not the center of thesame interest. Banks did not see the sources of profit as carriers than those of industry. The agricultural sector was therefore faced with development challenges. Faced with this situation of stagnation, the government, through Jules Meline (several times Minister of Agriculture), had to react.On his initiative, the Law of November 5, 1894 was passed. It provides a specific framework for the creation of Agricultural Credit Corporation (FCC).

The FCC were real local branches with a privileged status (tax exemptions, reduced red) and specific (mutual organization with limited liability and practicing a credit based on personal guarantees) based on the model of Friedrich Wilhelm Raiffensen.

Following the law of Meline in November 5, 1894, the first local bank Credit Agricole was created on February 23, 1885 in Poligny in the Jura. Then followed the creation of many local branches. Some were riding in a common, other in cantons. Very quickly, the limits of the law appeared. Indeed, the lack of organization, especially financially, and the total absence of an umbrella organization among local banks, prevented proper management and application of group policy was reflected.

Tags: Credit Agricole; mutual bank; analysis of mutual banks

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