The Banque Populaire Côte d’Azur : First Local Bank

The Banque Populaire Côte d’Azur :
First Local Bank

by Dominique THIBAULT

Despite an unfavourable growth context and following 3 years marked by internal reforms, the Banque Populaire Côte d’Azur (BPCA), subsidiary of the Banque Populaire Group, netted 14.2 million euro in progression in 2003 (compared with 13.6 million in 2002).

Besides a branch in Monaco, BPCA (905 employees) has 90 branches in the Var and Maritime Alps counties, taking pride in a 165,650-strong clientele portfolio. To consolidate its international presence, it depends on its headquarters’ sales force (with 39,200 employees and 2,200,000 members) whose prestigious partners include Lazard, JP Morgan Fleming Asset Management, and Fidelity Investments and who have multiple support subsidiaries in exports via the NATEXIS and PRAMEX networks. From the rural era to the era of advanced technologies, for over a half-century, the Bank, led by Bernard Fleury, has always adapted to different changes while remaining true to their base region’s traditional values. An undisputable experience blending the local economic fabric with an exceptional longevity, the major assets that consolidate its policy of county-oriented loyalty grounded in convenient service.

Jewel in the crown of Maritime Alps banks, it has been recognised by its peers by its excellence, to such a point that its General Director, Jean-François Comas, was elected by them as President of the 06 County Committee for the French Bank Federation.

Les responsables de la DEI :
Patrick ANTON, Gilles MARTINEZ et Alain DERNOUX

Initially dedicated to private individuals and professionals, BPCA began a radical turn in 2000 with its creation of D.E.I., a space exclusively dedicated to helping regional businesses and a pragmatic response to detractors pointing fingers at the laxity of banks during the burst of the Internet bubble. Developing customised services in financial and social engineering (wage savings, retirement advice and planning, for example) as well as in assets risk, introduction to the stock market, appraisals, transfers, and mergers, the D.E.I. (composed of 78 people) is a part of a dynamic approach that attracts local businesses and finally is proving to pay off. It reached a progressive turnover of 1.2 million euro in 2003 by respecting its priority objectives: « What we want to do most is counsel our clients well, » explains General Director Alain Demoux, « to show them how to develop their activities. We want to become top banker for one in three area businesses, with the help of increased, existent aid. The first step cleared for the opening of a second D.E.I. at La Valette (in Var County) on March 1st, 2004, and there will be a third one opening soon at Puget-sur-Argens, which shall complement our geographic coverage. »

In terms of financial engineering, BPCA strives to consolidate its high added value services in contact with institutions like pension funds, mutual insurance companies, chambers of commerce and professional associations, to offer them a large panel of financial products (from leasing via its subsidiary, Azur Marine, to capital management from the Regional Delegation based in Lyon, covering the whole triangle of Southeast France), adding up to 2 million euro of estate funding.

« Our two job beacons are capital development and transfers, » added Gilles Martinez, Client Director. These represent the first growth accelerators for the region. « In the framework of capital development, we’re studying each file in a very reactive way (responses in under 10 days), whether its at the direct request of the business chief or whether its upon recommendation of the consultants at the “Espace Entreprise” (‘Business Space’), who have undertaken an accurate detection for high-potential businesses. Among the criteria are a minimum 5 million euro turnover achieved within a 5-7 year period, and a lending limit of 12 million euro granted according to the quality of the file. The assessment so far is satisfactory as we have succeeded in manifesting 4 operations in this sector, both in the Var and in the Maritime Alps: Financière Coplan, Newsol, Secma and Equilibre Attitude. Five others are in the process of finalisation. As for transfers-transmissions, negotiations take longer (from 3 to 18 months on average) but are exponential to the French investors (about 60%). In 2003, 35% of successful transactions in the southeast of France were made in the Var and the Maritime Alps. »

With such positive results, the D.E.I, in tandem with the Natexis Banques Populaires network, can now offer innovative solutions to help businesses expand towards exporting with a support charter, Primo credit letters, factoring for creations and takeovers, Accredia (credit insurance), Creodis (credit reports and rating) and BP Proximité Sud Est, an investment fund successfully launched in 2003.

Just some of the solutions suitable for each growth phase of a business, which should help solidify Banque Populaire Côte d’Azur all the more, according to Patrick Anton, Adjunct General Director of the D.E.I. « as the region’s première local business bank. »