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presented by October France



24 months


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Le Relecq-Kerhuon, France




Presentation of the company

Arkéa is composed of the federations of Crédit Mutuel de Bretagne, Sud-Ouest and Massif Central, as well as some thirty specialised subsidiaries (Fortuneo, Monext, Arkéa Banque Entreprises et Institutionnels, Arkéa Investment Services, Suravenir…).

With more than 10,000 employees, 3,500 directors, 4.4 million members and customers in “bankinsurance” and more than 132 billion euros in total assets, Arkéa ranks among the top banking institutions headquartered in the region.

A pioneer and innovator, Arkéa has a known and recognized technological culture, particularly in online banking and insurance services. On the strength of this expertise, the group has forged very strong links with the players in the digital ecosystem with whom it is developing various forms of cooperation, whether technological, commercial or capital-intensive. In a rapidly changing environment, in an ultra-connected world that is shaking up all established models, these partnerships with start-ups and fintechs enable it to remain at the forefront of technology, consumer habits and cultivate its agility.

Arkéa pursues an original development strategy, with the ambition of establishing itself as the financial services hub model that best meets the aspirations and lifestyles of today and tomorrow.

Ronan Le Moal has been Chief Executive Officer since 2008.

Project Description

As part of the Grow Together initiative, Arkéa wishes to borrow €100,000 over 24 months.

October, in partnership with 11 major groups (AccorHotels, The Adecco Group, Allianz France, Arkéa, Edenred, ENGIE, Iliad, JC Decaux, SUEZ, Unibail-Rodamco-Westfield and Webhelp), is launching the Grow Together communication campaign to highlight a recent source of financing for SMEs: the lending platform.

Unlike SMEs, large groups have diversified sources of financing and are used to borrowing outside the banking system. They have simple and easy access to credit.

Since October 2014, the end of the banking monopoly has also enabled SMEs to borrow directly from individuals and institutions, in addition to their banks. SMEs can now do like the "big ones".

Arkéa participates in the Grow Together operation with the objective of creating value for its VSE/SME ecosystem by providing it with:

  • a source of financing complementary to bank financing,
  • the possibility of borrowing up to €1,000,000 each, without administrative costs.

This project, which is part of the Grow Together operation, is only available to individual investors on the platform. Unlike all the other projects presented on the platform, institutional investors and October’s management cannot lend on the projects of this campaign. 

Analyst’s Opinion

The borrower’s financial analysis was carried out on the basis of the consolidated financial statements (closed at 31/12/2017), which reflect the Group’s performance.

With net banking income of €2.1 billion in 2017 and an experienced team, the group has a good track record combined with excellent profitability. The increase in business and profitability is linked to Arkéa’s diversification strategy, the continued growth of its customer portfolio and the reduction in the cost of risk.

During the first half of 2018, growth continued with 110 billion euros in outstanding savings, 53 billion euros in outstanding loans and still an excellent level of profitability.

In addition, the Group has a solid financial structure: Arkéa is subject to prudential rules relating to credit institutions, insurance companies and financial conglomerates (Basel III). The group complies with regulations and had the highest solvency ratio in the French banking market at the end of 2017.

The analysis of the project leads to a credit rating of A+ and an annual interest rate of 2.5%.

The expert opinion is given for information purposes on the basis of the information provided by the project leader and information from our databases (Scores & Decisions, Corporate Banking File). This opinion is only an element of reflection in the decision making of a lender to participate in the financing of a project.

Strong points:

  • Good historical performance based on a diversified customer base.
  • A major player in bancassurance in France.

Points of caution:

  • Risk of systemic crisis.