Crédit Du Nord

(redirected from Credit du Nord)
Also found in: Wikipedia.

Crédit Du Nord

 

a large French commercial deposit bank. Founded in 1848 as the Lille Accounting Office, it was reorganized in 1866 into the Industrial Credit and Deposit Bank of Lille, and in 1884 it received the name Credit du Nord. The board is in Lille, and the main office is in Paris. As a result of the absorption of a number of local banks, Credit du Nord turned into the largest regional bank in France, with a broad network of branches (400 in 1971) in the northern departments. Only a few branches are located in southern wine-growing areas. In contrast to the other large deposit banks of France, which seek to cover the entire country, Credit du Nord has concentrated on serving the north, where a wealth of natural resources is combined with a developed, diverse economy, including coal, metallurgy, chemicals, textiles, and food. It has a subsidiary bank for long-term credit in Paris (Union Bancaire du Nord) and two subsidiary banks in Belgium with 14 branches. The balance total of Crédit du Nord on Jan. 1, 1973, was 9.7 billion francs, with capital and reserves of 235 million, deposits of 6.7 billion, discount and loan transactions of 5.3 billion, and securities of 1 billion.

K. A. SHTROM

References in periodicals archive ?
Retail banking in France with the Societe Generale branch network, Credit du Nord and Boursorama, offering a comprehensive range of multichannel financial services on the leading edge of digital innovation;
French bank Societe Generale is all prepared to purchase a 50 % stake in Antarius, an insurance company devoted to French retail banking network Credit du Nord.
In addition to serving on the boards of several other companies in the Dexia group, he is a director of Ethias, Credit du Nord and LVI Holding (Groupe Carmeuse).
It is also part of the "Plan 100,000 housing" implemented by the Regional Credit du Nord Pas de Calais for a sustainable and appropriate rehabilitation of old housing, in order to achieve long term energy performance equal the BBC Renovation (104 kWh / mA / year).
The fourth-quarter result was aided by a net capital gain of EUR151m from the sale of Dexia's 20 per cent stake in France-based Credit du Nord to Societe Generale (SOGN.
The 20 per cent stake is expected to provide Societe Generale full control over Credit du Nord.
the securities and investment banking arm of Japan's largest bank; and Le Groupe Credit du Nord, one of France's largest banks.
Global Banking News-11 December 2009-Dexia, SocGen signs Credit Du Nord deal(C)2009 ENPublishing - http://www.
ClientSoft customers include, Allstate, BearingPoint, Blue Cross Blue Shield of South Carolina, Carrefour, Credit du Nord, Do it Best Corp.
PA) has announced that it has agreed to a deal for Credit du Nord retail bank.
8bn rights issue, which is being used to repay state aid and buy outstanding shares in its Credit du Nord unit, was subscribed 1.
BR) regarding the purchase of Dexia Group's 20% interest in Banque Credit du Nord.