Groupe Banque Populaire
|Key people||Philippe Dupont, CEO|
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
In October 2008 the group announced plans, since approved by the French government, to merge with Groupe Caisse d'Epargne. The companies merged in 2009 to form the Group BPCE 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.
- "French banks to merge in bid to weather storm". Agence France Presse (Google News). 8 October 2008. Retrieved 2008-10-17.
- Jolly, David. Parent of French Bank Agrees to Guarantee Troubled Assets. New York Times. 26 August 2009.
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