Groupe Banque Populaire
Encyclopedia
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:
, 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.
Cooperative banking
Cooperative banking is retail and commercial banking organized on a cooperative basis. Cooperative banking institutions take deposits and lend money in most parts of the world....
. 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
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
cooperative banking group, Groupe Caisse d'Epargne
Groupe Caisse d'Epargne
Groupe Caisse d'Epargne is a French semi-cooperative banking group, founded in 1818, with around 4700 branches in the country. The group is active in retail and private banking, as well as holding a significant stake in the publicly traded investment bank Natixis.-Operations:The group's most...
in order to create Natixis
Natixis
Natixis is a French corporate and investment bank created in November 2006 from the merger of the asset management and investment banking operations of Natexis Banque Populaire and IXIS ....
. 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 FranceFranceThe French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
- a presence in 70 countries
Merger
In October 2008 the group announced plans, since approved by the French governmentGovernment of France
The government of the French Republic is a semi-presidential system determined by the French Constitution of the fifth Republic. The nation declares itself to be an "indivisible, secular, democratic, and social Republic"...
, to merge with Groupe Caisse d'Epargne
Groupe Caisse d'Epargne
Groupe Caisse d'Epargne is a French semi-cooperative banking group, founded in 1818, with around 4700 branches in the country. The group is active in retail and private banking, as well as holding a significant stake in the publicly traded investment bank Natixis.-Operations:The group's most...
. The companies merged in 2009 to form the Group BPCE and retain their separate retail banking brands and branch
Branch (banking)
A branch, banking center or financial center is a retail location where a bank, credit union, or other financial institution offers a wide array of face-to-face and automated services to its customers....
networks. Banque Populaire's chief executive officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
Philippe Dupont has been nominated to head the enlarged company.