French banking group BNP Paribas has acquired a controlling stake in Financiere des Paiements Electroniques’ (FPE) French online bank Compte-Nickel, following receipt of regulatory approval.
The terms of the deal, which was announced in April 2017, have not been disclosed.
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BNP has now bought an 89.1% stake in Compte-Nickel, with plans to increase the holdings to 95% by the year-end. The remaining interest will be owned by Confederation des Buralistes de France.
The deal will complement BNP’s existing offering from its branch network and its digital bank Hello bank!
“The synergies created by this merger will enable Compte-Nickel to go further and faster in its drive to attract new customers, with a target of two million accounts by 2020,” the French banking group said in a statement.
Meanwhile, Compte-Nickel has extended its alliance with the Confederation des Buralistes de France for 10 years.
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By GlobalDataSince Compte-Nickel’s inception three years ago, over 630,000 accounts have been opened. The latest acquisition will enable the bank to expand its customer base and open two million accounts by 2020.
