France: Banque Postale/Société Générale merge monetics

Publié le 9 juillet 2007 par Les Echos

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French banks Banque Postale and Société Générale plan to merge their monetics divisions via the creation of a 50:50 subsidiary. The merger will include the development activity and the IT systems. The new entity will bring together some 200 staff of Société Générale at Strasbourg and 100 staff of Banque Postale spread throughout the country, though principally in Ile-de-France (Paris region).