Calyon renamed Credit Agricole Corporate and Investment Bank

MANILA, Philippines - Calyon, one of the very active banks in the Philippines providing financial services to the country’s top companies and financial institutions, has been renamed Credit Agricole Corporate And Investment Bank (Credit Agricole CIB).

While the formal change of name was launched in Europe on Feb. 6, 2010, the Philippines launch of Credit Agricole CIB will be held on Thursday, March 11, 2010, at the Rigodon Ballroom of The Peninsula Manila.

To welcome government luminaries, clients from the country’s top corporations and financial institutions are deputy director general Gilles De Dumast, chief executive officer Patrice Couvegnes for Asia and senior country officer for the Philippines, Princess Banal.

Credit Agricole CIB is the corporate and investment banking arm of the Credit Agricole Group, the world’s ninth largest, Europe’s third largest, and France’s largest bank, based on Tier 1 capital.

The name change from Calyon to Credit Agricole CIB is part of the bank’s global strategy to strengthen the international market’s awareness of the Credit Agricole name. It also provides the opportunity for Credit Agricole CIB to ratify the strategic decisions it made in 2008 aimed at focusing on its traditional expertise to meet its clients’ requirements and serve the real economy.

The Credit Agricole Group is present in 50 countries and has more than 162,000 employees worldwide. Meanwhile, Credit Agricole CIB is in 57 locations around the world, and has more than 13,000 employees worldwide.                                          

In the Philippines, Calyon Manila offshore branch, which will now be called Credit Agricole CIB Manila offshore branch provides vital financial support and services to power generation, transmission and distribution, oil and gas, air transport, water infrastructure, ports, tollroads, telecommunications, electronics manufacturing, mining, manufacturing, food and beverage, consumer and retail services, banking and financial institutions among others.

The original stockholder base of The Credit Agricole Group were French farmers who pooled their resources together to become the seed capital for one of the world’s most impressive conglomerates.