CA Indosuez (Switzerland) SA - 2018 Annual Report

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CA Indosuez (Switzerland) SA

1.1.2. Scope of consolidation

The scope of consolidation of CA Indosuez (Switzerland) SA consists of owned “active” companies for which ownership interest (direct or indirect) exceeds 50%.

None of these companies is publicly listed. At 31 December 2018, the scope of consolidation included:

Company name

Head office

Share capital

Ownership interest

Lugano

CHF 1 800 000

100%

CA INDOSUEZ FINANZIARIA SA

Beirut LBP 2 000 000 000

100%

CA INDOSUEZ SWITZERLAND (LEBANON) SAL

100% (via CA Indosuez Finanziaria SA)

Lugano

CHF 1 300 000

LEONARDO SWISS SA

The share capital of the Local Banks, in turn, is owned by 10.1 million cooperative shareholders. Free float shares represent 43.7% of Crédit Agricole SA's share capital. The Regional Banks together own, via SAS Rue La Boétie, the majority of the share capital of Crédit Agricole SA. Crédit Agricole SA coordinates, together with its specialist subsidiaries, the strategies of the Group's various business lines in France and abroad. Crédit Agricole Group is the world's 13 th largest banking group by Tier 1 capital (The Banker, July 2018). There are no pending agreements whose future implementation could result in a change in the control structure of CA Indosuez (Switzerland) SA.

As indicated in note 4.2.1 to the financial statements, the Bank has not prepared consolidated financial statements since 2014 because its subsidiaries are no longer quantitatively significant. However, these entities do fall within the scope of consolidated supervision for regulatory and prudential purposes.

1.2.

Major shareholders

CA Indosuez (Switzerland) SA is 100% owned by CA Indosuez Wealth (Group), the holding company that unites the various wealth management entities of Crédit Agricole Group at an international level. CA Indosuez Wealth (Group) is 100% owned by Crédit Agricole Corporate and Investment Bank, the entity of Crédit Agricole Group responsible for capital markets and corporate and investment banking. Crédit Agricole Corporate and Investment Bank is 97.33%owned by Crédit Agricole SA, a member- owned cooperative company whose listed stock is owned by shareholders. Thirty-nine Regional Banks own together, via SAS Rue La Boétie, the majority of the share capital (56.26%) and voting rights (56.34%) of Crédit Agricole SA, which is thus protected from takeover bids. The cooperative Regional Banks deliberate the Group's major strategies within the Fédération Nationale du Crédit Agricole. The majority of the 39 Regional Banks’ share capital is owned by 2 432 Local Banks.

1.3.

Cross-shareholding

No cross-shareholding interest exceeds 5% of the total voting rights or share capital of CA Indosuez (Switzerland) SA.