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Groupe BPCE

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Groupe BPCE (for Banque Populaire Caisse d'Epargne) is a major French banking group formed by the 2009 merger of two major retail banking groups, Groupe Caisse d'Épargne and Groupe Banque Populaire. As of 2021, it was France's fourth-largest bank, the seventh largest in Europe, and the nineteenth in the world by total assets.[3] It has more than 8,200 branches nationwide under their respective brand names serving nearly 150 million customers.[4] Its wholesale banking subsidiary Natixis, previously a separately listed company, was delisted and came under full ownership of Groupe BPCE in 2021.

Groupe BPCE
Company typePrivate. Cooperative
IndustryFinancial services
Founded19 December 2006; 17 years ago (2006-12-19)
31 July 2009; 15 years ago (2009-07-31) as Groupe BPCE
Headquarters
Paris
,
France
Key people
Nicolas Namias, CEO of BPCE; Stephanie Paix, CEO of Natixis
ProductsBanking and insurance
RevenueDecrease €25.7 billion (2022)[2]
Decrease €7.6 billion (2022)[2]
Decrease €5.6 billion (2022)[2]
AUMIncrease €1.079 trillion (2022)[2]
Total assetsIncrease €1.531 trillion (2022)[2]
Total equityIncrease €85.5 billion (2022)[2]
Number of employees
100,000 (2022)[2]
Websitegroupebpce.com

BPCE has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank.[5][6] It is also designated as a global systemically important bank (G-SIB) by the Financial Stability Board.

History

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François Pérol was the architect of the creation of Groupe BPCE, which he subsequently led for nearly a decade.
 
Before moving to the Tours Duo in 2022, Groupe BPCE and Natixis were headquartered respectively on 50 and 30, Avenue Pierre-Mendès-France [fr] in Paris, flanked on both ends by office buildings of the Caisse des dépôts et consignations.

In 2008 and early 2009, the French state provided around 7 billion euros of financial support to the group formed by Caisse d'Épargne, Banque Populaire and their joint venture Natixis. François Pérol, a senior aide to President Nicolas Sarkozy, led the decision-making on the group's restructuring. The entity resulting from the merger of CNCE and BFBP, named BPCE, was formed on 2009-07-31. That same day, Pérol became its CEO while Philippe Dupont [fr], previously the chairman of Groupe Banque Populaire, became non-executive chairman of BPCE.

In 2014, BPCE had Coface listed through an initial public offering, and subsequently reduced its equity stake. As of March 2021, BPCE retained residual ownership of 12.7 percent of Coface's capital.

In July 2016, BPCE announced the purchase of Fidor Bank, a Fintech challenger bank, operating in the UK and Germany,[7] but in November 2018 considered selling it again.[8]

In 2018–2019, BPCE fully integrated the former Crédit Foncier de France's activities into its other operations and terminated the use of the Crédit Foncier brand.[9][10] In June–July 2021, it acquired all shares of Natixis that it did not previously own, and completed the entity's delisting on 2021-07-31.

Structure and operations

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Despite the 2009 merger, the two networks of local banks, Caisse d'Épargne and Banque Populaire, continue to operate under separate and to an extent competing brands. BPCE is fully owned by local savings banks and popular banks, which in turn are legally owned by their customers as cooperative members.

BPCE provides various deposit and loan products to small and medium enterprises, craftspeople, franchisees, and franchisers; savings collection and management, credit, payment, and wealth management services; and real estate financing and corporate banking services. The company also offers bancassurance products, including life assurance and pensions that comprise automobile and home insurance,[11] legal protection, the guarantee of life accidents, the supplementary health care insurance, welfare professionals and the collective retirement pensions and health, as well as credit insurance and guarantees to individuals, professionals, real estate professionals, and businesses.[12]

Leadership

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Groupe BPCE has had three chief executives (French: président du directoire) so far:

Controversies

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In 2010 the French government's competition authority, the Autorité de la concurrence, fined eleven banks, including Groupe BPCE, 385 million euros in the context of the French check processing fee controversy of 2010.[16][17]

See also

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References

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  1. ^ "Un nouveau siège en toutes lettres". Groupe BPCE. 24 March 2022.
  2. ^ a b c d e f g "2022 Universal Registration Document and financial report" (PDF). groupebpce.com. Retrieved 24 March 2023.
  3. ^ "The world's 100 largest banks, 2021". S&P Global Market Intelligence. Archived from the original on 26 July 2021. Retrieved 13 September 2021.
  4. ^ "Groupe BPCE Company Profile - Yahoo! Finance". cf.us.biz.yahoo.com. Archived from the original on 18 July 2011. Retrieved 14 August 2020.
  5. ^ "The list of significant supervised entities and the list of less significant institutions" (PDF). European Central Bank. 4 September 2014.
  6. ^ "List of supervised entities" (PDF). European Central Bank. 1 January 2023.
  7. ^ "Home Insurance Index (2016)". www.finextra.com. 28 July 2016. Retrieved 12 October 2016.
  8. ^ "BPCE and Fidor head for breakup". 12 November 2018.
  9. ^ "BPCE acte la disparition du Crédit Foncier". L'Agefi. Retrieved 1 March 2024.
  10. ^ "La deuxième mort du Crédit foncier". Le Monde. Retrieved 1 March 2024.
  11. ^ "Home Insurance Index (2016)". www.shiftins.com. Retrieved 12 July 2016.
  12. ^ "Groupe BPCE: Private Company Information - BusinessWeek". investing.businessweek.com. Archived from the original on 9 October 2012. Retrieved 25 January 2011.
  13. ^ "François Pérol quitte BPCE après 9 ans à la tête du géant bancaire". Capital. Retrieved 1 March 2024.
  14. ^ "Laurent Mignon quitte la présidence de BPCE pour celle de Wendel". La Tribune. Retrieved 1 March 2024.
  15. ^ "Nicolas Namias, président du directoire de BPCE, prend la tête de la Fédération bancaire française". BFMTV. Retrieved 1 March 2024.
  16. ^ Collusion in the banking sector, Press Release of Autorité de la concurrence, République Française, 20 September 2010, retrv 2010 9 20
  17. ^ 3rd UPDATE: French Watchdog Fines 11 Banks For Fee Cartel [permanent dead link], Elena Bertson, Dow Jones News Wires / Wall Street Journal online, retr 2010 9 20
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