A year after acquiring Banque Sanpaolo, the French unit of Italian bank Sanpaolo, French banking group Caisse d'Epargne is moving ahead with plans to make it its small- and medium-sized enterprise (SME) arm.
Banque Sanpaolo, which is to be renamed by the end of the year, will be responsible for factoring, long-term rental and leasing activities.
The group is targeting companies with between 200 and 500 employees which generate about Ђ100m in turnover.
Customer relations with businesses with revenue of less than Ђ450m will be Banque Sanpaolo's responsibility, while wholesale banking division CDC Ixis will take over in the case of companies with bigger workforces.
Source: Les Echos
