Financial Times FT.com

Global financial crisis

Merger shakes up French mutuals

By Scheherazade Daneshkhu in Paris

Published: July 13 2009 23:33 | Last updated: July 13 2009 23:33

The name may not be the catchiest but in a few weeks, BPCE, the result of France’s biggest banking merger since 2002, should be up and running.

The tie-up between Groupe Banque Populaire and Caisse d’Epargne, two of France’s largest privately held mutual banks, will create the country’s second-biggest retail lender.

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