Matthew Rosso's questions to Credit Agricole SA (CRARY) leadership • Q4 2024
Question
Matthew Rosso asked about the assumptions behind the provisions taken for the U.K. motor finance issue, particularly regarding the upcoming Supreme Court ruling. He also questioned if similar regulatory actions on discretionary commissions are expected elsewhere in Europe.
Answer
Executive Jerome Grivet characterized the provision as preliminary, noting the limited number of claims received and the U.K. government's call for moderation. He expressed confidence the issue will not be major for the group due to its small market share, a loss-sharing agreement with Stellantis, and a history of compliance. He added that the bank does not currently foresee similar disputes arising in other areas.