Groupe BPCE finalises the change of its overseas network
Groupe BPCE announces the disposal of all the equity interests held by BPCE International et Outre-Mer (BPCE IOM) in Banque de la Réunion, Banque des Antilles Françaises and Banque de Saint-Pierre-et-Miquelon to Caisse d’Epargne Provence-Alpes-Corse (CEPAC).
This disposal of these three banks by BPCE IOM allows Caisse d’Epargne Provence-Alpes-Corse to become a major banking player in the service of clients and overseas territories.
This transaction, initiated last October, fits into the strategic plan “Growing differently”. It allows the refocus of the Group’s presence in the overseas Eurozone around its two large retail networks: the Banque Populaire banks and the Caisses d’Epargne.
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About Groupe BPCE
Groupe BPCE is the second-largest banking group in France. Through its 100,000 staff, the group serves 35 million customers – individuals, professionals, companies, investors and local government bodies – around the world. It operates in the retail banking and insurance fields in France via its two major networks, Banque Populaire and Caisse d’Epargne, along with Banque Palatine and Oney. It also pursues its activities worldwide with the asset & wealth management services provided by Natixis Investment Managers and the wholesale banking expertise of Natixis Corporate & Investment Banking. The Group's financial strength is recognized by four credit rating agencies with the following senior preferred LT ratings: Moody's (A1, stable outlook), Standard & Poor's (A, stable outlook), Fitch (AA-, negative outlook) and R&I (A+, stable outlook).
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