Groupe Banque Populaire

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Groupe Banque Populaire
Type Semi co-operative
Industry Banking
Founded 1878
Headquarters Paris, France
Key people Philippe Dupont, CEO
Employees 34,500
Website www.banquepopulaire.fr

Groupe Banque Populaire is a French group of cooperative banks. It is controlled by 18 regional banks, the CASDEN Banque Populaire and the Crédit Coopératif.

In 2006, Groupe Banque Populaire created a new company with another French cooperative banking group, Groupe Caisse d'Epargne in order to create Natixis. The new Investment Bank is the result of the spin-off of the two Investment Banks of the two groups : Banque Populaire's Natexis and Caisse d'Epargne's IXIS Corporate and Investment Bank. Natixis is equally controlled by the two groups.

As of December 2008, Banque Populaire had:

  • 3,460,000 sociétaires (shareholders)
  • 9,400,000 clients
  • 3,391 branches in France
  • a presence in 70 countries

Merger[edit]

In October 2008 the group announced plans, since approved by the French government, to merge with Groupe Caisse d'Epargne.[1] The companies merged in 2009 to form the Group BPCE[2] and retain their separate retail banking brands and branch networks. Banque Populaire's chief executive officer Philippe Dupont has been nominated to head the enlarged company.[1]

References[edit]

  1. ^ a b "French banks to merge in bid to weather storm". Agence France Presse (Google News). 8 October 2008. Retrieved 2008-10-17. 
  2. ^ Jolly, David. Parent of French Bank Agrees to Guarantee Troubled Assets. New York Times. 26 August 2009.

External links[edit]