Groupe BPCE

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Banques Groupe BPCE
logo
Country FranceFrance France
Seat Paris
legal form Corporation
founding July 31, 2009
Website www.groupebpce.fr
Business data 2018
Employee 106,500
Offices 7,800
management
Board Laurent Mignon ( chairman )
Supervisory board Michel Grass (Chairman), Nicolas Plantrou (Vice-Chairman)

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The Groupe BPCE is one of the largest banking groups in France , created on July 31, 2009 from the merger of the Groupe Banque Populaire (Volksbank) and Groupe Caisse d'Epargne (Sparkasse).

The bank is one of 30 major banks , which by the Financial Stability Board (FSB) as "systemically important financial institution" ( systemic financial institution were classified).

Key figures

On December 31, 2009, the newly created institute had around 37 million customers (including 7 million members), had around 8,200 branches and employed around 127,000 people. The equity was 37.6 billion euros and the balance sheet total 1.029 trillion euros. The group had a 20 percent market share in retail banking in France.

Corporate structure

Bank BPCE started its business activities on July 31, 2009 after the extraordinary general meetings of the Groupe Caisse d'Epargne (Sparkasse) and Groupe Banque Populaire (Volksbank). With a value of 16 billion euros, BPCE is the central organ of the new group, which will be controlled by the two networks for five years. The French government holds preferred shares but has no voting rights.

Groupe Caisse d'Epargne and Groupe Banque Populaire will continue to exist within the BPCE and sell the products under their own brand. The legal form of the BPCE is that of a stock corporation with a management board and a supervisory board . The latter has 18 members, including 7 from Groupe Caisse d'Epargne and 7 from Groupe Banque Populaire. The state has 4 representatives on the board of directors, while the employees have 2. The chairman is Laurent Mignon.

Business areas

BPCE is active in the following areas:

Acquisitions

On July 28, 2016, the takeover of the German FinTech company of the Fidor Group with the associated direct bank Fidor Bank was announced.

criticism

In September 2010, BPCE, along with ten other banks, was fined € 381.1 million by the Conseil de la Concurrence . The banks had made an agreement according to which they would charge their customers 4.3 cents check fees per check from January 2002 to July 2007 in order to generate extra profits. This affected 80% of the checks used in France. Check transactions in France were free until 2002. After the intervention of the banking regulator, which called the profits "illegal", this practice was stopped. The banks in this cartel were also fined for excessive fees totaling 3.8 million euros. According to the Conseil de la Concurrence, BPCE played a leading role in the cartel, which is why their penalty was 10% higher. It was increased by a further 20%, as BPCE had already been sentenced to a penalty in 2000 for obstructing competition.

Web links

Individual evidence

  1. ↑ in brief - Groupe BPCE groupebpce.fr, accessed on February 19, 2019 (English)
  2. ↑
  3. ^ BPCE: history
  4. ^ Policy Measures to Address Systemically Important Financial Institutions. In: Financial Stability Board (FSB) of November 4, 2011 (PDF file; 105 kB)
  5. ↑ BPCE: Key figures ( Memento of the original from July 2, 2010 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.bpce.fr
  6. ↑ [1]
  7. ↑ BPCE: [2]
  8. ^ Collusion in the banking sector . Press release of the Autorité de la concurrence of September 20, 2010, accessed on February 9, 2011
  9. ↑ French banks are supposed to pay millions in: Handelsblatt of September 21, 2010, accessed on February 9, 2011