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50, avenue Pierre Mendes Paris none France
Created out of 1999 French banking reform, Groupe Caisse d'Epargne is a for-profit entity that serves as the central coordinating body of some 30 cooperatively owned (formerly state-owned) savings banks in France and the French territories of Guadeloupe, Martinique, and New Caledonia. CNCE functions as a central bank with some 4,700 offices. The network serves more than 26 million customers, 3 million of whom own shares in the savings banks. Besides retail banking services, subsidiaries offer insurance, leasing, real estate, and asset management. Natixis SA (of which CNCE owns 34%) offers business and investment banking, asset management, and private equity services.
- French lender uncovers €600 million loss on unauthorized trading: "Groupe Caisse d'Épargne, a large French mutual bank, said Friday that it had lost €600 million as a result of unauthorized derivatives trading for the bank's own account."