BPCE Group

<h2 id="history">History</h2>

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. <a href="/facts/Fran%25C3%25A7ois_P%25C3%25A9rol/oLqCDkIb">François Pérol</a>, a senior aide to President <a href="/facts/Nicolas_Sarkozy/x6Sr6so3">Nicolas Sarkozy</a>, led the decision-making on the group's restructuring. The entity resulting from the merger of CNCE and BFBP, named BPCE, was formed on 31 July 2009. 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 <a href="/facts/Coface/lhLMNP3F">Coface</a> 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 <a href="/facts/Fidor_Bank/xtgrjIh6">Fidor Bank</a>, a Fintech challenger bank, operating in the UK and Germany,<a class="footnote-ref" id="fnref:5" href="#fn:5">5</a> but in November 2018 considered selling it again.<a class="footnote-ref" id="fnref:6" href="#fn:6">6</a>
In 2018, BPCE sold its African operations to Morocco's <a href="/facts/BCP_Group/VsB12sa9">BCP Group</a>. These included stakes of 68 percent in Banque Internationale du Cameroun pour l'Epargne et le Crédit [fr] (BICEC); 71 percent in <a href="/facts/Banque_Malgache_de_l%2527Oc%25C3%25A9an_Indien/VsB12sa9">Banque Malgache de l'Océan Indien</a> (BMOI); 100 percent in the <a href="/facts/Brazzaville/NXlVVbKk">Brazzaville</a>-based Banque Commerciale Internationale [fr] (BCI); and 60 percent of Banque Tuniso-Koweitienne [fr].<a class="footnote-ref" id="fnref:7" href="#fn:7">7</a>
In 2018–2019, BPCE fully integrated the former <a href="/facts/Cr%25C3%25A9dit_Foncier_de_France/tvKn8hJz">Crédit Foncier de France</a>'s activities into its other operations and terminated the use of the Crédit Foncier brand.<a class="footnote-ref" id="fnref:8" href="#fn:8">8</a><a class="footnote-ref" id="fnref:9" href="#fn:9">9</a> In June–July 2021, it acquired all shares of Natixis that it did not previously own, and completed the entity's delisting on 31 July 2021.
On 21 January 2025, BPCE and the Italian insurer <a href="/facts/Assicurazioni_Generali/FCtgajqK">Generali</a> announced that they have signed a non-binding memorandum of understanding to create a 50-50 owned joint venture in order combine their asset management operations,<a class="footnote-ref" id="fnref:10" href="#fn:10">10</a> which would have around €1.9tn of assets under management and include Natixis Investment Managers and its affiliates (notably <a href="/facts/Ostrum_Asset_Management/CnUF8Uk4">Ostrum Asset Management</a>).<a class="footnote-ref" id="fnref:11" href="#fn:11">11</a>

<h2 id="structure-and-operations">Structure and operations</h2>
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,<a class="footnote-ref" id="fnref:12" href="#fn:12">12</a> 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.<a class="footnote-ref" id="fnref:13" href="#fn:13">13</a>

<h2 id="leadership">Leadership</h2>
Groupe BPCE has had three chief executives (<a href="/facts/French_language/qe1DnaQh">French</a>: président du directoire) so far: 

<ul><li><a href="/facts/Fran%25C3%25A7ois_P%25C3%25A9rol/oLqCDkIb">François Pérol</a> (July 2009 - May 2018)<a class="footnote-ref" id="fnref:14" href="#fn:14">14</a></li>
<li>Laurent Mignon (June 2018 – December 2022)<a class="footnote-ref" id="fnref:15" href="#fn:15">15</a></li>
<li>Nicolas Namias [fr] (December 2022 – present)<a class="footnote-ref" id="fnref:16" href="#fn:16">16</a></li></ul>
<h2 id="controversies">Controversies</h2>
In 2010 the French government's competition authority, the <a href="/facts/Autorit%25C3%25A9_de_la_concurrence/4uaDe8MH">Autorité de la concurrence</a>, fined eleven banks, including Groupe BPCE, 385 million euros in the context of the <a href="/facts/French_check_processing_fee_controversy_of_2010/XlN6NhSw">French check processing fee controversy of 2010</a>.<a class="footnote-ref" id="fnref:17" href="#fn:17">17</a><a class="footnote-ref" id="fnref:18" href="#fn:18">18</a>

<h2 id="see-also">See also</h2>
<ul>
<li>Banks portal</li></ul>
<ul><li><a href="/facts/BNP_Paribas/hSo99oYW">BNP Paribas</a></li>
<li><a href="/facts/Soci%25C3%25A9t%25C3%25A9_G%25C3%25A9n%25C3%25A9rale/sQpztLSE">Société Générale</a></li>
<li><a href="/facts/Cr%25C3%25A9dit_Agricole/laJHAzIE">Crédit Agricole</a></li>
<li><a href="/facts/Cr%25C3%25A9dit_Mutuel/I1hJkAR2">Crédit Mutuel</a></li></ul>

<h2 id="references">References</h2>

<ol>
<li id="fn:1">"The world's 100 largest banks, 2021". S&P Global Market Intelligence. Archived from the original on 26 July 2021. Retrieved 13 September 2021. <a href="https://web.archive.org/web/20210726034624/https://go.snapapp.com/Top-Global-Banks-2021" target="_blank">https://web.archive.org/web/20210726034624/https://go.snapapp.com/Top-Global-Banks-2021</a> <a href="#fnref:1" class="footnote-back-ref">↩</a></li>
<li id="fn:2">"Groupe BPCE Company Profile - Yahoo! Finance". cf.us.biz.yahoo.com. Archived from the original on 18 July 2011. Retrieved 14 August 2020. <a href="https://web.archive.org/web/20110718133610/http://cf.us.biz.yahoo.com/ic/161/161356.html" target="_blank">https://web.archive.org/web/20110718133610/http://cf.us.biz.yahoo.com/ic/161/161356.html</a> <a href="#fnref:2" class="footnote-back-ref">↩</a></li>
<li id="fn:3">"The list of significant supervised entities and the list of less significant institutions" (PDF). European Central Bank. 4 September 2014. <a href="https://www.bankingsupervision.europa.eu/ecb/pub/pdf/ssm-listofsupervisedentities1409en.pdf" target="_blank">https://www.bankingsupervision.europa.eu/ecb/pub/pdf/ssm-listofsupervisedentities1409en.pdf</a> <a href="#fnref:3" class="footnote-back-ref">↩</a></li>
<li id="fn:4">"List of supervised entities" (PDF). European Central Bank. 1 January 2023. <a href="https://www.bankingsupervision.europa.eu/ecb/pub/pdf/ssm.listofsupervisedentities202302.en.pdf" target="_blank">https://www.bankingsupervision.europa.eu/ecb/pub/pdf/ssm.listofsupervisedentities202302.en.pdf</a> <a href="#fnref:4" class="footnote-back-ref">↩</a></li>
<li id="fn:5">"Home Insurance Index (2016)". www.finextra.com. 28 July 2016. Retrieved 12 October 2016. <a href="https://www.finextra.com/newsarticle/29238/groupe-bpce-agrees-to-buy-fidor" target="_blank">https://www.finextra.com/newsarticle/29238/groupe-bpce-agrees-to-buy-fidor</a> <a href="#fnref:5" class="footnote-back-ref">↩</a></li>
<li id="fn:6">"BPCE and Fidor head for breakup". 12 November 2018. <a href="https://www.finextra.com/newsarticle/32940/bpce-and-fidor-head-for-breakup" target="_blank">https://www.finextra.com/newsarticle/32940/bpce-and-fidor-head-for-breakup</a> <a href="#fnref:6" class="footnote-back-ref">↩</a></li>
<li id="fn:7">El Mehdi Berrada (18 June 2018). "Maroc : BCP s'apprête à acquérir les actifs africains de BPCE". Jeune Afrique. <a href="https://www.jeuneafrique.com/mag/575886/economie-entreprises/maroc-bcp-convoite-les-actifs-africains-de-bpce/" target="_blank">https://www.jeuneafrique.com/mag/575886/economie-entreprises/maroc-bcp-convoite-les-actifs-africains-de-bpce/</a> <a href="#fnref:7" class="footnote-back-ref">↩</a></li>
<li id="fn:8">"BPCE acte la disparition du Crédit Foncier". L'Agefi. Retrieved 1 March 2024. <a href="https://www.agefi.fr/news/banque-assurance/bpce-acte-la-disparition-du-credit-foncier" target="_blank">https://www.agefi.fr/news/banque-assurance/bpce-acte-la-disparition-du-credit-foncier</a> <a href="#fnref:8" class="footnote-back-ref">↩</a></li>
<li id="fn:9">"La deuxième mort du Crédit foncier". Le Monde. Retrieved 1 March 2024. <a href="https://www.lemonde.fr/economie/article/2019/08/16/la-deuxieme-mort-du-credit-foncier_5499922_3234.html" target="_blank">https://www.lemonde.fr/economie/article/2019/08/16/la-deuxieme-mort-du-credit-foncier_5499922_3234.html</a> <a href="#fnref:9" class="footnote-back-ref">↩</a></li>
<li id="fn:10">"BPCE and Generali to Create the Largest Asset Manager in Europe by revenues and a Major Player Worldwide". 21 January 2025. <a href="https://newsroom-en.groupebpce.fr/news/bpce-and-generali-to-create-the-largest-asset-manager-in-europe-by-revenues-and-a-major-player-worldwide-dfa31-53927.html" target="_blank">https://newsroom-en.groupebpce.fr/news/bpce-and-generali-to-create-the-largest-asset-manager-in-europe-by-revenues-and-a-major-player-worldwide-dfa31-53927.html</a> <a href="#fnref:10" class="footnote-back-ref">↩</a></li>
<li id="fn:11">"Natixis and Generali poised to announce asset management tie-up". 17 January 2025. <a href="https://www.ft.com/content/ae786579-c98f-4b49-9696-481363c0f169" target="_blank">https://www.ft.com/content/ae786579-c98f-4b49-9696-481363c0f169</a> <a href="#fnref:11" class="footnote-back-ref">↩</a></li>
<li id="fn:12">"Home Insurance Index (2016)". www.shiftins.com. Retrieved 12 July 2016. <a href="https://www.shiftins.com/homeowners-insurance-california/" target="_blank">https://www.shiftins.com/homeowners-insurance-california/</a> <a href="#fnref:12" class="footnote-back-ref">↩</a></li>
<li id="fn:13">"Groupe BPCE: Private Company Information - BusinessWeek". investing.businessweek.com. Archived from the original on 9 October 2012. Retrieved 25 January 2011. <a href="https://web.archive.org/web/20121009184444/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=111588627" target="_blank">https://web.archive.org/web/20121009184444/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=111588627</a> <a href="#fnref:13" class="footnote-back-ref">↩</a></li>
<li id="fn:14">"François Pérol quitte BPCE après 9 ans à la tête du géant bancaire". Capital. Retrieved 1 March 2024. <a href="https://www.capital.fr/entreprises-marches/francois-perol-quitte-bpce-apres-neuf-ans-a-la-tete-du-geant-bancaire-1285309" target="_blank">https://www.capital.fr/entreprises-marches/francois-perol-quitte-bpce-apres-neuf-ans-a-la-tete-du-geant-bancaire-1285309</a> <a href="#fnref:14" class="footnote-back-ref">↩</a></li>
<li id="fn:15">"Laurent Mignon quitte la présidence de BPCE pour celle de Wendel". La Tribune. Retrieved 1 March 2024. <a href="https://www.latribune.fr/entreprises-finance/banques-finance/laurent-mignon-quitte-la-presidence-de-bpce-pour-celle-de-wendel-932963.html" target="_blank">https://www.latribune.fr/entreprises-finance/banques-finance/laurent-mignon-quitte-la-presidence-de-bpce-pour-celle-de-wendel-932963.html</a> <a href="#fnref:15" class="footnote-back-ref">↩</a></li>
<li id="fn:16">"Nicolas Namias, président du directoire de BPCE, prend la tête de la Fédération bancaire française". BFMTV. Retrieved 1 March 2024. <a href="https://www.bfmtv.com/economie/entreprises/assurance-banque/nicolas-namias-president-du-directoire-de-bpce-prend-la-tete-de-la-federation-bancaire-francaise_AD-202307170412.html" target="_blank">https://www.bfmtv.com/economie/entreprises/assurance-banque/nicolas-namias-president-du-directoire-de-bpce-prend-la-tete-de-la-federation-bancaire-francaise_AD-202307170412.html</a> <a href="#fnref:16" class="footnote-back-ref">↩</a></li>
<li id="fn:17">Collusion in the banking sector, Press Release of Autorité de la concurrence, République Française, 20 September 2010, retrv 2010 9 20 <a href="http://www.autoritedelaconcurrence.fr/user/standard.php?id_rub=368&id_article=1472" target="_blank">http://www.autoritedelaconcurrence.fr/user/standard.php?id_rub=368&id_article=1472</a> <a href="#fnref:17" class="footnote-back-ref">↩</a></li>
<li id="fn:18">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 <a href="https://www.wsj.com/article/BT-CO-20100920-709855.html" target="_blank">https://www.wsj.com/article/BT-CO-20100920-709855.html</a> <a href="#fnref:18" class="footnote-back-ref">↩</a></li>
</ol>

BPCE Group open-in-new

BPCE Group