La Banque Postale and Societe Generale have signed a memorandum of
bringing together the development and operational use of their
systems. By mutualising investments, maintenance and operating costs, La
Postale and Societe Generale aim to share their expertise while reducing
Current and future IT processing will be centralized by a joint venture
led equally by the two
institutions. Management of the transaction systems for bank card
payments, retail operations and
ATMs will be shared, thereby reducing investment, maintenance and
Both La Banque Postale and Societe Generale will maintain their autonomy
in terms of
commercial, pricing policy and client relationship management.
The joint company will be headquartered in Paris with teams in
Strasbourg and Paris.
The operational launch is scheduled on 1 April 2008.
La Banque Postale and Societe Generale are two major players in
electronic payment systems in
France with a combined volume of 10 million cards in use, more than
100,000 retailer contracts
and 10,000 ATMs.
Patrick Werner CEO La Banque Postale said, “as part of our development
strategy in electronic
payment, the partnership with Societe Generale is an answer to the
challenges of SEPA (Single
European Payment Area) and the technological evolutions in this area.”
Daniel Bouton, Chairman and CEO Societe Generale, said “by adding La
expertise to ours, we are anticipating clients’ needs while optimizing
our investments in electronic
Societe Generale is one of the leading financial service groups in the
euro area. With 120,000 people around the world, its
activity is based around three major businesses:
ÃÂ§ Retail networks and Financial Services which account for 27.6 million
private customers in France and abroad.
ÃÂ§ Assets management and Investor Services, areas in which the Group is
one of the leading banks of the euro area,
with -ÂÂ¬2,585 billion, with some -ÂÂ¬450.1 billion under management at the
end of September 2007.
ÃÂ§ Finance and Investment, Societe Generale Corporate & Investment
Banking is ranked as one of the long-term
European and World leaders in the euro capital market, derivatives, and
Societe Generale is one of the five major international players of
La Banque Postale (www.labanquepostale.fr)
La Banque Postale, the banking subsidiary of the La Poste Group, was
created on 1 January 2006, and now has 29
million clients. Loyal to its values of trust, accessibility and
proximity, La Banque Postale represents a unique business
model in the French retail banking sector, guided by the simple
principle of a welcome for all, and a simple approach:
providing, for each of its clients irrespective of their financial
position, the banking and insurance products and services
that best suit their needs.
La Banque Postale consists of:
– 29.3 million customers
– 11.2 million post office current accounts
– 9 million customers having La Banque Postale as first banking provider
– 4,955 ATMs (third-largest network in France)
– 5,270 financial advisers and 1,350 specialised property and asset
portfolio advisers 17,043 outlets