The bank for a changing world

Groupe Caisse d'Epargne creates caisse d'Epargne Financement in partnership with Cetelem

  • 28.09.2001
Groupe Caisse d'Epargne is joining forces with Cetelem to create a consumer credit subsidiary : Caisse d'Epargne Financement. The new company will begin operations in January.


A company devoted exclusively to consumer credit and an ambitious business goal

Caisse d'Epargne Financement is a financial company, 67% owned by Groupe Caisse d'Epargne and 33% by Cetelem, European consumer credit leader.

The company's purpose is to market and manage a full range of consumer credit products. In 2002, it will progressively develop its activity throughout the Caisses d'Epargne network(1). Thereafter, Caisse d'Epargne Financement may conclude agreements with other networks in France and abroad.

Early 2002, Caisse d'Epargne Financement will launch an innovative product : a revolving credit card.

In pursuing its ambitious goals, Caisse d'Epargne Financement will draw on the Caisses d'Epargne Group's robust network and Cetelem's consumer credit expertise.

At the helm of Caisse d'Epargne Financement, Christian Guirlinger, currently executive board chairman of the Caisse d'Epargne Provence Alpes Corse Réunion will assume the presidency with Laurent Paillassot, distribution manager of the CNCE (Caisse Nationale des Caisses d'Epargne), as general manager. Cetelem president Marc Mangez and CNCE general manager Philippe Wahl will be board members. The management team will be drawn from the two founding groups' staff.



(1) Subject to regulatory authority approval

CNCE executive board chairman Charles Milhaud stated : "In creating Caisse d'Epargne Financement, Groupe Caisse d'Epargne now hopes to enhance its consumer credit strategy with the backing of Cetelem, a renowned specialist in this market."

Cetelem executive board chairman Marc Mangez underscored a crucial point : "The partnership has been at the core of Cetelem's development strategy for over 10 years. Today, I am very pleased with this major agreement with Groupe Caisse d'Epargne, a leading French banking network."
Press contact(s)
Contacts:

CNCE
Nathalie Delebarre - : (33) 1 5840 4077 - Fax: (33) 1 5840 5017
e-mail: nathalie.delebarre [at] cnce.caisse-epargne (dot) fr

Christine Françoise - : (33) 1 5840 4657 - Fax: (33) 1 5840 4986
e-mail: christine.francoise [at] cnce.caisse-epargne (dot) fr

Marc Cogrel - : (33) 1 5840 4781 - Fax: (33) 1 5840 5310
e-mail: marc.cogrel [at] cnce.caisse-epargne (dot) fr

CETELEM
Catherine Sainz : (33) 1 4639 1273 - Fax: (33) 1 4639 9943
e-mail: catherine.sainz [at] cetelem (dot) fr

Christine Pizzini : (33) 1 4639 1140 - Fax: (33) 1 4639 9943
e-mail: christine.pizzini [at] cetelem (dot) fr