Crelan was introduced as the bank brand after the merger of ''Landbouwkrediet'' / ''Crédit Agricole'' and ''Centea''. It is a
Belgian bank with roots in
agriculture. It is part of Crelan Group, which was 50 percent owned by the
Crédit Agricole Group. At the time, KBC and BNP Paribas were the other main shareholders. The arrival of a new bank brand will strengthen the group, in particular the group’s online banking and the “Customer Protection” area. Through this acquisition, the new group intends to address the segment of the Belgian population that currently uses unbranded, incomplete financial services. In June 2015 Crelan became again a 100% Belgian cooperative bank, owned by its clients. In 2018 Crelan Group had 919.887 customers and +/- 600 branches, and made a net profit of €66 million.
History
Its
retail banking
Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking. Banking servi ...
and commercial enterprises have grown to equal its agricultural interests. In 2006, the bank reported a growth rate of 49%, according to
International Financial Reporting Standards (IFRS) with a net result of
€52 million. In recent years it acquired and
Keytrade Bank (sold in 2016 to CM ARKEA). Landbouwkrediet was officially recognized as a bank insurance company in 2007, further strengthening its market position.
In 2019, Crelan announced its intention to acquire AXA Bank Belgium, the Belgian banking business of French insurer
AXA
Axa S.A. (styled as ''AXA'' or GIG in the Middle East) is a French multinational insurance company. The head office is in the 8th arrondissement of Paris, France. It also provides investment management and other financial services.
The Ax ...
, for 620 million euros ($688.51 million). The acquisition, which closed in December 2021 makes Crelan Belgium's fifth-largest lender.
[Benoit Van Overstraeten (October 25, 2019)]
French insurer AXA to sell its Belgian bank for $689 mln
'' Reuters''.
Sponsoring
Since 2001 the bank has sponsored several professional
cycling team
A cycling team is a group of cycle sport, cyclists who join a team or are acquired and train together to compete in bicycle racing, bicycle races whether amateur or professional – and the supporting personnel. Cycling teams are most important i ...
s, which hosted two world champions, Sven Nys, Wout Van Aert and Sanne Cant.
References
External links
*{{official website, http://www.crelan.be/
Banks of Belgium