French Postal Bank May Acquire Ailing Lender

Posted by Orb Staff on June 19, 2012 No Comments
Categories : Residential Mortgage

11811_labanquepostale French Postal Bank May Acquire Ailing Lender A major French mortgage lender might soon be nationalized via an acquisition.

According to a Reuters report, the French post office bank La Banque Postale is reportedly considering the purchase of Credit Immobilier de France (CIF), an ailing financial institution. CIF has recently received troubling diagnoses on its financial health, with the credit rating agency Moody's saying the lender would not be viable without continued financial support. If CIF is acquired by La Banque Postale, the transaction would save the French government the need to bailout the lender.Â

‘La Banque Postale has decided to take part in the process and examine the CIF dossier with regard to its own development goals,’ the postal bank says in a press statement.

Register here to receive our Latest Headlines email newsletter




Leave a Comment