Credit Cooperatif in deal over its factoring and venture capital businesses
French bank Credit Cooperatif has acquired a 2 per cent stake in the capital of the national bank that heads French banking group Banques Populaires, for 65m euros.
French bank Credit Cooperatif has acquired a 2 per cent stake in the capital of the national bank that heads French banking group Banques Populaires, for 65m euros.
Philippe Zamaron, vice-chairman of the board of management at Eurofactor in France spoke to BCR to explain why Eurofactor has suffered a substantial drop in profit into the red.
Eurofactor, the factoring subsidiary of French credit-insurance group Euler & Hermes, has seen its profits plunge into the red, down from a profit of 5.7m euros in 2001 to a loss of 4.5m euros in the first half of 2002.
Jean Philippe Guillaume has been appointed managing director of French factoring company Compagnie Generale d'Affacturage (CGA), which is part of French bank Societe Generale.
The European Commission said it cleared under EU merger regulation the acquisition by Natexis Banques Populaires of control of Compagnie Francaise d'Assurance pour le Commerce Exterieur, Coface.
Gils Berrous has been appointed chairman of the management board of Factorem, the factoring subsidiary of French banking group Natexis Banques Populaires. His previous posts include that of managing director of the Banque de Credit Liegeois.
Swiss Life/Rentenanstalt said it would acquire the French life insurance operations of Fortis, the Dutch/Belgian financial-services conglomerate, at a price of 150m to 200m.
The Paris-based credit insurer and international financial services group, Euler, has recorded a dramatic acceleration of the amount of its total net income from its interest in factoring operation, Eurofactor.
Transfact, the factoring subsidiary of French rural bank Credit Agricole, has announced the launch of Immedians, an online financing service aimed at small businesses.
The credit insurer and provider of other diverse financial and management services, Euler group, has recorded a rise of 15% in their consolidated first half turnover for 2001 to 647.7m.