Crédit Lyonnais is a The French Republic or France ( French: République française or France) is a country whose metropolitan territory is located in western Europe, and which is further made up of a collection of overseas islands and territories located in other continents. France is a democracy organised as a... French For other uses, see Bank (disambiguation). The essential function of a bank is to provide services related to the storing of value and the extending of credit. The evolution of banking dates back to the earliest writing, and continues in the present where a bank is a financial institution that... bank. It used to be the largest French bank, and it was state-owned.

History

Founded in 1863 is a common year starting on Thursday. Events January January 1 - Abraham Lincoln delivers the Emancipation Proclamation during the second year of the American Civil War. January 1 - The first claim under the Homestead Act is made for a farm in Nebraska January 8 - Ground is broken in Sacramento... 1863 in This article is about the French city. For other usages (as Lyons), see Lyons (disambiguation). Lyon (British English Lyons) is a city in eastern-central France. Together with its suburbs and satellite towns, Lyon forms the second largest metropolitan area in France after Paris, and approximately the 20th to 25th... Lyons by Henri Germain, Crédit Lyonnais was nationalised in 1945 was a common year starting on Monday (link will take you to calendar). Events January January 5 - The Soviet Union recognizes the new pro-Soviet government of Poland. January 7 - British General Bernard Montgomery holds a press conference in which he claims credit for victory in the Battle of... 1945.

During the Events and trends Technology Explosive growth of the Internet; decrease in the cost of computers and other technology Reduction in size and cost of mobile phones leads to a massive surge in their popularity Year 2000 problem (commonly known as Y2K) Microsoft Windows operating system becomes virtually ubiquitous on IBM... 1990s it has been the subject of financial scandals, and created a huge debt of about 150 billion French The franc is the name of several currency units. The name is said to derive from the Latin inscription francorum rex (King of the Franks) on early French coins, or from the French franc, meaning free. Countries which use francs include Switzerland, Liechtenstein and most of the Francophone countries of... francs by exaggerate investing, but mostly through subsidiaries. Their motto of the time, Le pouvoir de dire oui, literally the ability to say 'yes which more or less meant we can lend you money so that you can say 'yes' to your desires has been put to the extreme.

Crédit Lyonnais notably owned the MGM logo Metro-Goldwyn-Mayer or MGM, is a large media company, involved primarily in the production and distribution of cinema and television programs. Its principal subsidiaries are MGM (Metro-Goldwyn-Mayer Studios), United Artists Corporation and Orion Pictures Corporation. The company was acquired by a partnership led by Sony... MGM movie studio for a few years. Giancarlo Parretti is an Italian financier. He used to own the MGM at the beginning of the 1990s, after buying it using money borrowed from a Dutch subsidiary of Crédit Lyonnais. During that period the movie studio released almost no movies, while Giancarlo enjoyed a Hollywood mogul lifestyle. Categories... Giancarlo Parretti was the chief of the studio at the time. Crédit Lyonnais is also involved in the Executive Life insurance scandal.

The finances have been sanitized by moving the debt into a new state-owned organism, Consortium de Réalisation (CDR).

In 2003, the bank was bought by Crédit Agricole. In 2004, the investment banking business of the bank was spun off to an existing subsidiary of Crédit Agricole, Crédit Agricole Indosuez, which was renamed Calyon is the corporate and investment banking division of the France. After the merger of CA with Crédit Lyonnais in 2003, the investment banking business of Crédit Lyonnais was merged into Crédit Agricole Indosuez. This merger took place on May 1, 2004. CLSA Calyons securities business... Calyon. Crédit Lyonnais continues to exist as a nationwide retail consumer bank.

External link

• http://www.creditlyonnais.com