La Banque Postale lends to acquisitions in consumer credit

Posted on Jan 22, 2021 at 12:09 am

La Banque Postale wants to catch up in consumer credit. The bank, which is one of the contenders for the purchase of specialist Floa Bank (formerly Banque Casino), announces on Friday the launch of a digital platform aimed at providing partners with a consumer credit production plant in White mark.

This platform includes all the tools necessary to take out consumer loans online, from electronic signatures to scoring services, including automatic control of the risk of fraud, assures Franck Oniga, the boss of the subsidiary specializing in consumer credit. .

« This allows partners who so wish to expand their service offering with consumer credit or to modernize their activity at marginal cost. », He adds. Among the targeted partners, Franck Oniga notably cites insurers. ” We talk a lot about bancassurers, but insurance banks also exist “, As well as the neobanks, he says.

White mark

This announcement marks La Banque Postale’s desire to push the focus on the personal loan segment, known for its high margins. Its subsidiary LBP Financement, renamed LBP Consumer Finance, now has 800,000 customers for a total of 5 billion euros in assets.

It is far from having achieved the objective set in 2017, namely to provide half of its customers with consumer credit by 2023. The La Poste subsidiary, which has 11 million customers, claims not to have revised its ambitions downwards. ” We still have work to do, but we’re heading towards that threshold Says Franck Oniga.

Candidate for the purchase of the former Banque Casino

To achieve this, La Banque Postale is ready to make acquisitions. His name is mentioned alongside BNP Paribas and Santander for a possible purchase of Banque Casino, renamed Floa Bank and with some 3 million customers. The distribution group and Crédit Mutuel Alliance Fédérale, its 50% partner, initiated the sale at the end of 2020. “ We have never closed the door to this type of approach », Comments Franck Oniga.

The arrival of Philippe Heim at the head of the establishment last summer would be no stranger to this acceleration. The former head of Société Générale, who was notably in charge of the insurance and consumer credit businesses, is keen to continue the group’s transformation into a traditional bancassurer.

La Banque Postale was launched in consumer credit in 2009, via a joint venture created with Société Générale, who finally sold him all of his shares (35%) in March 2019. To develop, it first focused on its own customers, which remain less well equipped than those of its competitors.

Its desire to grow comes at a time when the health crisis has plagued the consumer credit market. According to figures from the Association of Financial Companies, production was down by around 12% in 2020.

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