Groupe BPCE facts for kids
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Tours Duo in Paris, where Groupe BPCE has its main office since 2022
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| Private. Cooperative | |
| Industry | Financial services |
| Founded | 19 December 2006 31 July 2009 as Groupe BPCE |
| Headquarters |
Paris
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France
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Key people
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Nicolas Namias, CEO of BPCE; Stephanie Paix, CEO of Natixis |
| Products | Banking and insurance |
| Revenue |  €25.7 billion (2022) |
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Operating income
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€7.6 billion (2022) |
| €5.6 billion (2022) |
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| AUM |  €1.079 trillion (2022) |
| Total assets | €1.531 trillion (2022) |
| Total equity | €85.5 billion (2022) |
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Number of employees
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100,000 (2022) |
Groupe BPCE (which stands for Banque Populaire Caisse d'Epargne) is a very big French banking group. It was created in 2009 when two large banking groups, Groupe Caisse d'Épargne and Groupe Banque Populaire, joined together.
In 2021, it was the fourth largest bank in France. It was also the seventh largest in Europe and the nineteenth largest in the world based on its total assets. Groupe BPCE has more than 8,200 branches across France. These branches operate under their original names and serve almost 150 million customers.
Natixis, which is a part of Groupe BPCE, used to be a separate company. However, in 2021, Groupe BPCE took full ownership of Natixis. Because BPCE is such an important bank, the European Central Bank directly supervises it.
History of Groupe BPCE
In 2008 and early 2009, the French government provided about 7 billion euros to help the banks that would form Groupe BPCE. François Pérol, a senior advisor to President Nicolas Sarkozy, helped make the decisions about how to restructure the group.
The new bank, named BPCE, was officially formed on July 31, 2009. On that same day, François Pérol became its CEO.
In 2014, BPCE helped a company called Coface become publicly traded. This means Coface's shares could be bought and sold on the stock market. BPCE later reduced its ownership in Coface. By March 2021, BPCE still owned 12.7 percent of Coface.
In July 2016, BPCE announced that it would buy Fidor Bank. Fidor Bank was a new kind of online bank, known as a Fintech challenger bank, operating in the UK and Germany. However, in November 2018, BPCE decided to consider selling it again.
Between 2018 and 2019, BPCE fully brought the activities of a former bank called Crédit Foncier de France into its other operations. They stopped using the Crédit Foncier name. In 2021, BPCE bought all the shares of Natixis that it didn't already own. Natixis was then removed from the stock market on July 31, 2021.
How Groupe BPCE Works
Even after joining in 2009, the two main networks of local banks, Caisse d'Épargne and Banque Populaire, still operate separately. They even compete with each other to some extent. Groupe BPCE is fully owned by these local savings banks and popular banks. These banks, in turn, are legally owned by their customers, who are like cooperative members.
BPCE offers many different banking products and services. These include:
- Savings accounts and loans for small and medium-sized businesses.
- Services for craftspeople, people who own franchises, and people who sell franchises.
- Managing savings, offering credit, processing payments, and helping people manage their wealth.
- Financing for real estate and banking services for large companies.
The company also provides insurance products, known as bancassurance. These include:
- Life insurance and pensions.
- Car and home insurance.
- Legal protection.
- Insurance for accidents.
- Extra health care insurance.
- Welfare for professionals and group retirement plans.
- Credit insurance and guarantees for individuals, businesses, and real estate professionals.
Leadership
Groupe BPCE has had three chief executives since it was formed:
- François Pérol (July 2009 - May 2018)
- Laurent Mignon (June 2018 – December 2022)
- Nicolas Namias (December 2022 – present)
See also
In Spanish: Groupe BPCE para niños
- BNP Paribas
- Société Générale
- Crédit Agricole
- Crédit Mutuel
