By Lionel Laurent
PARIS, Dec 10 (Reuters) - When French bank Credit Agricole (CAGR.PA) last unveiled a strategic plan in 2005, it promised international growth far beyond its humble agricultural origins and a big push in the glitzy investment banking business.
Five years on, with these ambitious dreams shattered by the financial crisis and its share price cut in half, the bank's new management is seen winding back the clock to less risky times as it prepares a 10-year outlook due to be unveiled on Dec. 15.
New Chief Executive Jean-Paul Chifflet has already rung in some key changes, replacing the head of Credit Agricole's crisis-scarred investment bank with a green-fingered executive trained in agricultural engineering -- a sign that sleepy, domestic banking is very much back in fashion.
"This is about a group of farmers going back to what they do best," a London-based bank analyst said, citing strong retail and asset management activities that helped Credit Agricole double profits ib the first nine months of 2010.
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