Bred Group: Another French bank is pushing into Germany - bankers cite three reasons for this
The Bred group is taking over parts of Oddo's business. It is following the example of other financial institutions. But why do France's financial institutions find the German market so attractive?
French cooperative bank Bred has acquired the German business of private bank Oddo BHF, specifically its trade finance and correspondent banking operations. This move allows Bred to offer German companies financing and security for exports and imports, as well as international payment processing. The acquisition marks Bred's expansion into the German market, which CEO Jean-Paul Julia considers a key market in Europe.
This is the latest in a series of takeovers by French banks in Germany, following Crédit Agricole's purchase of IKB and Crédit Mutuel's acquisition of Oldenburgische Landesbank (OLB).
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
