Crédit Du Nord

(redirected from Credit du Nord)

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 ?
The far-right leader, who is struggling with feuding in her party after May's e lection loss to Macron, said the National Front would fi lea complaint against Societe Genera leand its subsidiary Credit du Nord.
CSC a global leader in next-generation IT services and solutions, today announced that it has signed an agreement with the Credit du Nord group, a French retail banking network, within the framework of their project to modernize part of the companys information technology application portfolio.
Roy began his career at Credit du Nord in the International division in 1983.
Companies Mentioned in this Report: Credit Du Nord SA, Allianz Banque, Credit Agricole S.
Credit du Nord, HSBC France, Mediobanca and Societe Generale (EPA:GLE) served as mandated lead arrangers for the five-year loan and CIC Nord-Ouest helped in the capacity of arranger.
Societe Generale (incl three banks in the Credit du Nord group and the Czech Komercni bank)
The association will provide a commercial banking platform and associated functions, until the end of 2012 by Credit du Nord, a unit of Societe Generale (SocGen) (SOGN.
French banking group Credit du Nord said on Wednesday it had concluded the takeover of local regional bank Societe Marseillaise de Credit from BPCE group for EUR872m (USD1.
Although that was not particularly unusual, the executives could not reasonably explain why the payments, including a check for $220,000, had been deposited in credit du Nord, a Paris bank.
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).
In addition, Credit du Nord, KBC Bank and Rabobank acted as mandated lead arrangers.
Dexia sold its 20 per cent stake in Credit du Nord to Societe Generale (SOCG.