BNP Paribas has finalised today the acquisition of Financière des Paiements Électroniques (FPE), which provides the Compte-Nickel payments account. In addition, the partnership between Compte-Nickel and the Confédération des Buralistes de France has been extended for a period of 10 years.
On 12 July, in accordance with the Memorandum of Understanding signed on 4 April, and having obtained all necessary authorisations from the relevant regulatory bodies, BNP Paribas has completed the acquisition of 89.1% of Compte-Nickel, and should increase its holding in the company to 95% by end-2017. The Confédération des Buralistes de France will retain a 5% stake in Compte-Nickel.
Through this acquisition, BNP Paribas completes its offer dedicated to new banking usage in France providing, alongside Hello bank!, the Bank’s branch network and the digital services offered by the French Retail banking, a comprehensive set of solutions well adapted to all client needs.
Compte-Nickel leverages a straightforward market positioning and a distribution network – that of the French Confédération des Buralistes – which provides unrivalled access to customers. Compte-Nickel’s offer will progressively become available through 10,000 Buralistes, equivalent to half the entire network of Buralistes in France.
A new Compte-Nickel account is opened every thirty seconds and since launch three years ago over 630,000 accounts have already been opened.
The synergies created by this merger will enable Compte-Nickel to go further and faster in its drive to attract new customers, with a target of two million accounts by 2020.
The acquisition will have a negligible impact on the Group’s Common Equity Tier 1 ratio.
Compte-Nickel is a account service in France open to all, without any conditions regarding income, deposits or personal wealth, and without any overdraft or credit facilities. Compte-Nickel operates in real time, using the latest technology. An account may be opened through the intermediary of a local ‘buraliste’ who havs been certified by the Banque de France. The holders are provided with an Internet space to keep track of their transactions, an international MasterCard, a RIB bank account number enabling the holder to deposit salaries, make and receive transfer payments and record direct debits with total reliability. The customer service department is open from 8am to 8pm, Monday to Saturday.
Abouth The Confédération des Buralistes
The French Confédération des Buralistes is the sole organisation representing some 25,000 local retailers of state-licensed products and services, including tobacco, tax stamps and sub-post office services. The Confederation is underpinned by 113 professional chambers at French département level and 16 regional federations, all run by people actually involved in the business. The Confederation’s mission is to promote the interests of the profession, while creating a forward-looking drive for the sector.
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 74 countries, with more than 192,000 employees, including more than 146,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance.