CFM INDOSUEZ Wealth Management - 2020 Annual Report

ME S S AGE F ROM GENE R AL MANAGEMENT CFM Indosuez has had its roots in Monaco for more than 100 years, throughout which the bank has weathered several international crises. Each of these has been revelatory, and the Covid-19 crisis we faced in 2020 —and continue to face in 2021 — has again demonstrated the resilience and sustainability of our business model. This model is supported by our strategy, which was unanimously approved by our Board of Directors, whom we would like to thank for their ongoing support. We would also like to take this opportunity to thank all of our shareholders for their loyal support, and the Monegasque authorities for their trust and the interest they show in our development. Their support is invaluable in this period that we are facing together. In 2020, CFM Indosuez successfully maintained a stable net income compared to 2019, at €21.8million, factoring in the cost of risk (-€1.5million). This reflects the efforts made to keep operating expenses under control in this uncertain context. It is also the result of the dynamism and commitment of the men and women whomake up our Bank. Their responsiveness and their capacity to adapt to teleworking allowed us to strengthen the ongoing pursuit of service excellence that we aim to provide our customers. The deployment of our corporate project, Crescendo 2022, has steadily continued andnearly all theprojects initiated were carried out in a timely manner and in line with the budgets allocated. This is an important success, given the necessity of remote working throughout much of 2020. In this way, CFM Indosuez has clearly reaffirmed its ambitions in terms of sales and client positioning, our impact on society and human development: - Proactive support of an increasingly demanding and sophisticated client base, both local and international. Our objective remains to become the preferred wealth management bank of our customers; - Deployment of our corporate social responsibility (CSR) policy at three levels: developing our corporate actions to reduce our own environmental footprint, supporting the actions of our employees (notably viaCitizenDays), andhelpingour customers focus their investments on responsible financing; - Strengthening our teams’ collaborative work methodswith their counterparts in Indosuez Group and Crédit Agricole Group; - New acceleration of our digital transformation and the development of innovations, in service of our operational and commercial efficiency; - Ongoing construction of a foundation of balanced and sustainable growth while maintaining our profitability, through awell-defined common vision and strategy that draw on rigorous standards in terms of transparency, the application of regulatory standards, compliance and quality advisory services for our customers and our partners. In 2021, we will continue to carry out our ambitious strategy. Ranked as Best Bank in Monaco for the fifth year running by a leading finance magazine (Global Finance), CFM Indosuez has all the strengths we need to succeed. We are confident in our capacity to meet our challenges and to reach our objectives, thanks to a solid and responsible business model, committed employees and a client base whose loyalty reflects the responsiveness of our teams, the quality of our services and the advanced level of our expertise. J ean-Marie Sander Mathieu Ferragut Jean-Mar i e Sander Chairman Mathi eu Ferragut Chief Executive Officer MESSAGE FROM THE DIRECTORS OF CFM INDOSUEZ WEALTH MANAGEMENT 25 “THE CRISIS HAS AGAIN DEMONSTRATED THE RESILIENCE AND SUSTAINABILITY OF OUR BUSINESS MODEL.”