The policy of the European Central Bank plans for the strengthening of bank capitalization to have the means to fulfill their role as the economic lifeline and to face market uncertainties.
Two approaches are conceivable: strengthening equity by increasing capital or through mergers.
It is the second option that the 160,000 members of the two popular banks in Nice and Marseille (plus Banque Chaix) have chosen to bring to life an entity that remains medium-sized and will operate within a regional scope.
A wise and inevitable decision that will allow the new Banque Populaire Méditerranée to be an important player in the regional economy. And all this with an intelligent merger, balanced governance, and without the social disruptions often seen in such situations.
So when everything goes well and everyone is happy, it should be acknowledged!
Following the Extraordinary General Meetings of members held on November 22 in Nice and Marseille, “Banque Populaire Côte d’Azur, Banque Populaire Provençale et Corse, and Banque Chaix have merged to give birth to Banque Populaire Méditerranée,” explains the official statement.
As Michel Hillmeyer, appointed Chairman of the Board, specifies: “This grouping was born from the ambition to create a large Mediterranean Banque Populaire, with financial solidity capable of unleashing new development forces, likely to better serve its customers.”
Christophe Bosson, appointed Managing Director, confirms this intention: “This merger will allow Banque Populaire Méditerranée to reach the critical size necessary to address the increased demands of the banking profession, heightened regulatory and consumer pressures, major solvency, and liquidity challenges, intense competitive situations, and new business habits particularly linked to the massive digital transformation of these.”
