The government-sponsored merger of
Caisse d’Epargne and Banque Populaire, to form the country’s
third-largest retail bank after Crédit Agricole and La Banque
Postale, is on target for a 3 August launch.

The new bank, to be known as BPCE, taking the
initials of Banque Populaire and Caisse
d’Epargne in capitals, will be 20
percent state-owned and have around 34 million customers, around
8,200 branches, (exceeding both BNP Paribas and Société Générale),
110,000 employees and over 7 million members.

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BPCE will also have deposits of around €480
billion ($675 billion), 22 percent of total French banking
deposits, revenue of about €17.5 billion and Tier 1 capital of
€36.5 billion.

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