La Banque Postale Eyes Retail, Asset Management M&A in Europe
- Bank seeks to extend retail network to strengthen insurer CNP
- La Banque Postale also aims to boost asset management activity
Photographer: Joel Saget/AFP/Getty Images
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La Banque Postale SA is seeking to do something unusual for a bank steeped in rural France -- launch out into European M&A.
The publicly-owned lender, a subsidiary of France’s mail-service operator La Poste, is aiming to generate 20% of its revenues outside France by 2025. That could come through selling services such as corporate leasing, or through the acquisition of a network to distribute products from its subsidiary CNP Assurances, Chief Executive Officer Philippe Heim said in an interview