Examples of Banques Populaires in a sentence
With regard to the first area, access to banking services outside Kigali and the major towns is still very limited, as the population is mainly served by the network of Union des Banques Populaires du Rwanda (UBPR) and a few other micro finance institutions that offer very limited financial services.
Background of BPCE and NatixisOn February 26, 2009, the Banque Fédérale des Banques Populaires Board of Directors and the Caisse Nationale des Caisses d’Epargne Supervisory Board approved the terms and conditions of the combination of their two (2) central institutions, leading to the creation of Groupe BPCE which is the number two (2) banking group in France1.
The commercial banking and insurance business line includes the activities of the Banques Populaires and Caisses d’Epargne retail banking networks, activities relating to real estate financing (mainly through Crédit Foncier de France) and insurance, international banking and certain other banking activities.
Instead, its economic interest in the results of operations of the Banques Populaires and Caisses d’Epargne is limited to the financing that it provides to them as part of its activity as central body of Group BPCE.
As a result, BPCE does not share in the profits and losses of the Banques Populaires and Caisses d’Epargne.
BPCE may be required to contribute funds to the entities that are part of the financial solidarity mechanism if they encounter financial difficulties, including some entities in which BPCE holds no economic interest As the central body of Groupe BPCE, BPCE guarantees the liquidity and solvency of each of the regional banks (the Caisses d’Epargne and the Banques Populaires), as well as the other members of the affiliated group that are credit institutions subject to regulation in France.
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The business of BPCE or Groupe BPCE may therefore be subject to significant disruptions in the event that the Banques Populaires and the Caisses d’Epargne are unable to resolve any differences concerning the relevant group’s development.
In addition, the BPCE Protocol provides (and the bylaws of BPCE provide) that certain decisions deemed essential require the approval of 12 out of 18 members of the supervisory board (meaning a favorable vote from at least one representative of each of the Caisses d’Epargne and the Banques Populaires and from among the outside directors).
In the event of a disagreement between the Banques Populaires and the Caisses d’Epargne, the business or operations of BPCE could be subject to significant disruptions The mechanism for the appointment of members of the supervisory board and of the management board of BPCE, as well as the implementation of various corporate governance measures is set forth in a protocol originally dated 24 June 2009 (the “BPCE Protocol”).