Alberto Artoni's questions to Credit Agricole SA (CRARY) leadership • Q4 2024
Question
Alberto Artoni inquired if lower interest rates would continue to support momentum in the asset gathering business. He also asked for a view on the future competitive landscape for active fixed income products compared to the intense competition seen in active equities.
Answer
Jerome Grivet, Executive, explained that lower rates have mixed effects, creating positive valuation effects but lowering yields on new assets. He emphasized the bank's ability to adapt to any rate environment. On competition, he acknowledged it is fierce across all categories and stated that being a low-cost producer is critical, highlighting that Amundi's and Crédit Agricole Assurance's scale provides a key advantage.