This page is dedicated to providing an introduction to the French banking group, the Credit du Nord. Its main focus will be on explaining a little about the history of the Credit du Nord and will lead on to a summary of Credit du Nord banking services.
The Credit du Nord has its headquarters in Paris, France and is one of the most well—known financial institutions in the country. As privately held bank with an operating subsidiary status, the Credit du Nord is large organization employing to 10,000 people.
History of Credit du Nord
Credit du Nord began life in 1848 in Lille. After acquiring a number of banks, it was itself acquired by Paribas between 1972 (35 per cent owned) and 1988 (100 per cent owned) but remained its operation as a separate banking network. In the succeeding years, a number of regional French banks were brought into the group while retaining their names.
Some time in the year 1997, the whole network of Credit du Nord and the associated banks were acquired by Societe Generale from Paribas. At the start of 2000, Credit du Nord was eighty per cent owned by Societe Generale and twenty per cent by Dexia.
The Credit du Nord Family
Credit du Nord is a French retail banking network. Generally, Credit du Nord consists of the following banks:
- Banque Courtois, Toulouse, Aquitaine (the oldest existing bank in France which was founded in 1760)
- Banque Kolb, Alsace, Lorraine
- Banque Laydernier, Savoy
- Banque Nuger, Massif Central
- Banque Rhône-Alpes, Lyon
- Banque Tarneaud, Limoges
- Crédit du Nord itself in the rest of France
- Gilbert Dupont, a stock brokerage.
Credit du Nord is mainly owned by Societe Generale but has a segregate operation from Societe Generale’s own French banking network. Credit du Nord specializes in small business and professional customers, serving about 1.5 million customers in more than 700 branches as of 2006.
Credit du Nord Services
Through its group, the Credit du Nord provides banking and financial services to its customers. Credit du Nord offers services such as lending, depository, and other related financial services. Credit du Nord is also involved in activities such as providing investments and related services, acts as a broker, provides insurance policy cover for buildings and their contents and loss or damages to valuable items.