Groupe Banque Populaire

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Groupe Banque Populaire
Semi co-operative
IndustryBanking
Founded1878
HeadquartersParis, France
Key people
Philippe Dupont, CEO
Number of employees
34,500
SubsidiariesNatixis
Websitewww.banquepopulaire.fr

Groupe Banque Populaire is a French group of cooperative banks. The federal union is controlled by 15 independent regional banks and also operates under the CASDEN and the Crédit Coopératif subsidiaries.

In 2006, Groupe Banque Populaire created Natixis with another French cooperative banking group, Groupe Caisse d'Epargne. This new Investment Bank is the result of the spin-off of the two former Investment Banks of both groups : Banque Populaire's Natexis and Caisse d'Epargne's IXIS Corporate and Investment Bank.

Then in 2009, Banque Populaire and Caisse d'Epargne groups decided to fully merge into a single company, BPCE, which became the 2nd largest banking group in France.

As of December 2008, Banque Populaire had:

  • 3,460,000 shareholders
  • 9,400,000 customers
  • 3,391 branches in France
  • a 70 countries presence

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 Groupe 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]