{"id":363,"date":"2026-04-25T10:50:07","date_gmt":"2026-04-25T09:50:07","guid":{"rendered":"https:\/\/www.andp-cci.org\/?p=363"},"modified":"2026-04-26T10:50:26","modified_gmt":"2026-04-26T09:50:26","slug":"le-credit-agricole-devrait-tourner-la-page-ep5","status":"publish","type":"post","link":"https:\/\/www.andp-cci.org\/index.php\/2026\/04\/25\/le-credit-agricole-devrait-tourner-la-page-ep5\/","title":{"rendered":"Le Cr\u00e9dit Agricole devrait tourner la page [ep5]"},"content":{"rendered":"\n

\u00c9pisode 5 <\/h3>\n\n\n\n

Champion de l\u2019ESG \u00e0 Paris, le Cr\u00e9dit Agricole est au dernier rang en province (1\/2)<\/h4>\n\n\n\n

On a vu la semaine pass\u00e9e que les Caisses r\u00e9gionales (CR) du Cr\u00e9dit Agricole se financent gr\u00e2ce \u00e0 des parts sociales, des Certificats Coop\u00e9ratifs d\u2019Associ\u00e9s (CCA) r\u00e9serv\u00e9s aux clients, et des Certificats Coop\u00e9ratifs d\u2019Investissement (CCI) r\u00e9serv\u00e9s aux investisseurs. CCI et CCA sont en tous points identiques, en droits juridiques comme en droits financiers. Enfin, en th\u00e9orie, car en pratique, il n\u2019en est rien. <\/p>\n\n\n\n

    \n
  1. Une transparence limit\u00e9e\u00a0<\/li>\n<\/ol>\n\n\n\n

    En effet, les 9 CR qui ont \u00e9mis des CCA organisent des bourses internes entre leurs clients qui peuvent ainsi s\u2019\u00e9changer entre eux des CCA, sur la base d\u2019un prix fix\u00e9 par la CR et r\u00e9sultant, \u00e0 la demande de l\u2019AMF, d\u2019un rapport d\u2019un expert ind\u00e9pendant. Ce rapport n\u2019est pas rendu public. Vous avez beau \u00eatre client d\u2019une CR ayant \u00e9mis des CCA, vous ne pouvez pas obtenir communication de ce rapport d\u2019\u00e9valuation sur la base duquel vous achetez et vendez des CCA. On trouve mieux en mati\u00e8re de transparence\u00a0!\u00a0
    <\/p>\n\n\n\n

    2. Des traitements in\u00e9galitaires<\/p>\n\n\n\n

    Mais si ce n\u2019\u00e9tait que cela\u00a0!
    Vous r\u00e9sidez \u00e0 Wassigny (Aisne) et \u00eates client de la CR Nord Est. En ce moment, vous pouvez c\u00e9der vos CCA \u00e0 80% environ des capitaux propres consolid\u00e9s. Mais votre m\u00e8re qui r\u00e9side \u00e0 12 km de l\u00e0, au Cateau-Cambr\u00e9sis (Nord) est cliente de la CR Nord de France qui n\u2019a pas \u00e9mis de CCA, mais des CCI cot\u00e9s en Bourse. Comme ce sont des titres qui ont exactement les m\u00eames caract\u00e9ristiques, la logique voudrait qu\u2019ils aient la m\u00eame valeur. Eh bien non\u00a0! Si votre m\u00e8re veut c\u00e9der ses CCI, en tous points identiques \u00e0 vos CCA que vous pouvez c\u00e9der \u00e0 80%, sa CR les lui rach\u00e8tera au cours de Bourse, soit \u00e0 25% environ des capitaux propres consolid\u00e9s.
    Waouh\u00a0! 3 fois moins que pour les CCA, pour un \u00e9cart de 12 km\u00a0! Vous avez int\u00e9r\u00eat \u00e0 ne pas vous tromper de CR quand vous devenez client du Cr\u00e9dit Agricole en province\u00a0! Comment ce que l\u2019on n\u2019observe pas dans un groupe capitaliste cot\u00e9 en Bourse peut-il l\u2019\u00eatre dans un groupe mutualiste\u00a0cot\u00e9 en Bourse ? C\u2019est une bonne question.
    <\/p>\n\n\n\n

    3. Des rachats d\u2019actions tr\u00e8s offensifs\u00a0<\/p>\n\n\n\n

    Depuis quelques mois, toutes les CR se sont mises \u00e0 racheter avec une d\u00e9cote moyenne de 75% et certaines, fr\u00e9n\u00e9tiquement, leurs CCI cot\u00e9s en Bourse, dans la limite maximum autoris\u00e9e par l\u2019AMF de 25% des transactions quotidiennes. Ainsi, la CR du Nord de France a rachet\u00e9 5,7% de ses CCI en circulation sur les 12 derniers mois. Le rythme annuel moyen est 0,7% pour les groupes du CAC 40, d\u2019o\u00f9 mon adjectif fr\u00e9n\u00e9tique. La derni\u00e8re qui manquait \u00e0 l\u2019appel, la CR de Normandie Seine s\u2019est mise au rachat d\u2019actions avec tout l\u2019ardeur des n\u00e9ophytes : 8% des CCI en circulation en rythme annuel depuis d\u00e9cembre 2025.

    On verra la semaine prochaine que les d\u00e9faillances dans la gouvernance des Caisses r\u00e9gionales du Cr\u00e9dit Agricole ne se limitent malheureusement pas \u00e0 des traitements aussi scandaleusement in\u00e9quitables entre ceux qui les financent.<\/p>\n","protected":false},"excerpt":{"rendered":"

    \u00c9pisode 5 Champion de l\u2019ESG \u00e0 Paris, le Cr\u00e9dit Agricole est au dernier rang en province (1\/2) On a vu la semaine pass\u00e9e que les Caisses r\u00e9gionales (CR) du Cr\u00e9dit Agricole se financent gr\u00e2ce \u00e0 des parts sociales, des Certificats Coop\u00e9ratifs d\u2019Associ\u00e9s (CCA) r\u00e9serv\u00e9s aux clients, et des Certificats Coop\u00e9ratifs d\u2019Investissement (CCI) r\u00e9serv\u00e9s aux investisseurs. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"templates\/template-full-width.php","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-363","post","type-post","status-publish","format-standard","hentry","category-billets-linkedin"],"yoast_head":"\nLe Cr\u00e9dit Agricole devrait tourner la page [ep5] - Site de l\u2019Association Nationale de D\u00e9fense des Porteurs de CCI du Cr\u00e9dit Agricole (ANDP-CCI)<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.andp-cci.org\/index.php\/2026\/04\/25\/le-credit-agricole-devrait-tourner-la-page-ep5\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Le Cr\u00e9dit Agricole devrait tourner la page [ep5] - Site de l\u2019Association Nationale de D\u00e9fense des Porteurs de CCI du Cr\u00e9dit Agricole (ANDP-CCI)\" \/>\n<meta property=\"og:description\" content=\"\u00c9pisode 5 Champion de l\u2019ESG \u00e0 Paris, le Cr\u00e9dit Agricole est au dernier rang en province (1\/2) On a vu la semaine pass\u00e9e que les Caisses r\u00e9gionales (CR) du Cr\u00e9dit Agricole se financent gr\u00e2ce \u00e0 des parts sociales, des Certificats Coop\u00e9ratifs d\u2019Associ\u00e9s (CCA) r\u00e9serv\u00e9s aux clients, et des Certificats Coop\u00e9ratifs d\u2019Investissement (CCI) r\u00e9serv\u00e9s aux investisseurs. 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