LCL S.A.

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LCL S.A.
Type Subsidiary
Industry Financial services
Predecessors Crédit Lyonnais
Founded July 6, 1863
Headquarters Registered office: Lyon, France
Head office: Paris, France
Key people Henri Germain
Products Retail, corporate and investment banking; asset management
Revenue 6.57 billion (2008)[1]
Profit Increase €897 million (2008)[1]
Employees 20,900 (2013)[2]
Parent Crédit Agricole
Website www.lcl.com

LCL S.A. is a major French financial services company, with its registered office in Lyon, France and its administrative head office in Paris, France.[3] LCL is an abbreviation which means Le Crédit Lyonnais, the former name of the bank. Since 2003, LCL is owned by Crédit Agricole but still operates as a separate entity in all of France.

It serves about 6 million customers in 2000 branches in France (2005).

History[edit]

Main article: Crédit Lyonnais

Controversy[edit]

In 2010 the French government's Autorité de la concurrence (the department in charge of regulating competition) fined eleven French banks, including LCL S.A., the sum of 384,900,000 Euros for colluding to charge unjustified fees on check processing, especially for extra fees charged during the transition from paper check transfer to "Exchanges Check-Image" electronic transfer. [4] [5]

See also[edit]

References[edit]

  1. ^ a b "Rapport Aannuel 2008". Crédit Lyonnais. May 2009. 
  2. ^ "LCL recrute: Nos métiers" (in French). 
  3. ^ "Mentions légales". lcl.com. 
  4. ^ "Collusion in the banking sector". Press Release of the Autorité de la concurrence. 2010-09-20. 
  5. ^ Elena Bertson (2010-09-20). "3rd UPDATE: French Watchdog Fines 11 Banks For Fee Cartel". The Wall Street Journal. Archived from the original on 2010-11-01. 

External links[edit]