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The Postal Bank continues its transformation

2022-03-01T18:31:48.077Z


The young public bank is preparing to buy the minority shareholders of CNP Assurances for 5.7 billion euros.


“We are going to file in the coming days with the AMF the offer to buy back CNP Assurances shares”,

announces Philippe Heim, chairman of the management board of La Banque Postale (LBP).

More than two years after the integration of CNP Assurances, of which it has owned 79% since December, the subsidiary of La Poste should withdraw from the stock market, in May or June, this French heavyweight in life insurance (1.55 billion euros in profits in 2021).

The takeover of CNP Assurances' minority interests, a project announced at the end of October, will cost it a total of 5.7 billion euros.

Read also

The Postal Bank wants to be a bank like the others

The young public bank, which was created 16 years ago, is accelerating its transformation at full speed to become a universal bank.

“The acceleration of our diversification is necessary

, argues Philippe Heim.

The trap would have been to remain locked in retail banking activities in France, when interest rates are very low.

In addition to insurance, La Banque Postale, which claims 20 million…

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Source: lefigaro

All business articles on 2022-03-01

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