Groupe BPCE, Natixis and La Banque Postale reached a major milestone in deepening and expanding their business partnership including plans to create a major player in insurance-related asset management in Europe
Groupe BPCE and La Banque Postale have been continuing their discussions on the various aspects of the expanded business partnership between the two groups, announced in June 2019. The agreements concerning CNP Assurances (extension of commercial agreements and shareholders’ agreement) were signed and the main terms of the contemplated combination of asset management activities have been defined.
Groupe BPCE, the second-largest banking group in France, includes two independent and complementary cooperative commercial banking networks: the network of 14 Banque Populaire banks and the network of 15 Caisses d’Epargne. It is also active in real estate financing through Crédit Foncier. It is a major player in asset management, insurance, corporate and investment banking and specialised financial services with Natixis. Through its 106,500 employees, Groupe BPCE serves a total of 31 million customers and enjoys a strong presence in France with 7,800 branches and 9 million cooperative shareholders.
The Group’s long-term senior preferred debt is rated by four financial rating agencies: Moody’s (A1, stable outlook), S&P (A+, stable outlook), Fitch (A, stable outlook) and R&I (A, stable outlook).
La Banque Postale, a subsidiary of Groupe La Poste, operates in the retail banking, insurance and asset management markets. As a bank whose mission is to work in the best interest of the community, it supports its customers by offering a sustainable banking relationship with a comprehensive range of reasonably priced and accessible products and services. As a local bank providing a public service, La Banque Postale meets the needs of each and all: private individuals, businesses, professionals and the local public sector. It serves its customers through the Post Office network, on-line and over the telephone as part of a fully multi-channel relationship.
La Banque Postale at a glance:
- 5,570 billion euros in NBI
- 10.3 million active customers
- close to 365,000 legal and local public entity customers
- 8.2 million bank cards
Figures at end-2018
Press Relations, Natixis
+33 1 58 32 01 03
Head of Press Relations and Social Media, Natixis
+33 1 58 19 10 40