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' Rothschild Brothers ') until 1967, was the family-controlled bank of the Rothschild banking family of France. It was established in 1817, expropriated by Vichy France in 1940, returned to the Rothschilds after the liberation of France in 1944, and nationalized in 1982 after which it operated under the name of its subsidiary Compagnie ...
The Fall of France greatly affected the French Rothschilds as their bank was seized by the Nazi occupiers. [2] [3] Despite having the bank restored to them at the end of the war, the family bank Rothschild Freres would be nationalized in 1981 by the socialist government of then newly elected French President François Mitterrand. [4]
In 1945, the Bank was nationalized by Charles de Gaulle and became a state-owned institution. [12] Existing shareholders received bonds to replace their shares in the company. [citation needed] The Bank's statute was reformed in 1973. [citation needed] In 1993, the Bank of France was again reformed when it obtained independence from the state.
1969 Nationalization of 14 Indian banks. 1972 Nationalisation and restructuring of 107 insurance companies under the General Insurance Corporation of India. [27] 1973 Coal industry under Coal India Limited and the oil and gas industry under the Oil and Natural Gas Corporation. [28] 1980 Another six banks nationalized.
It grew in France and overseas, collapsed in 1889, and was soon reformed as CNEP. It was nationalized in 1945 together with other major French depository banks. In 1966 it merged with Banque nationale pour le commerce et l'industrie to form Banque Nationale de Paris.
In 1945, under the impetus of Finance Minister René Pleven, the French government nationalized the Bank of France and the four major depository banks, including BNCI. In 1947, the London branch of BNCI was transformed into a subsidiary and renamed the British & French Bank (BFB), with shares held by BNCI, S.G. Warburg and Robert Benson & Co.
[2]: 90–93 After the Liberation of France, its larger rivals were nationalized, and as a consequence the CIC became France's largest private-sector bank in the postwar period. [2]: 95 In 1957, it merged the Crédit de l'Ouest and Crédit nantais to form the Crédit Industriel de l'Ouest (CIO).
The banking industry in France has, as of 11 October 2008, an average leverage ratio (assets/net worth) of 28 to 1, and its short-term liabilities are equal to 60% of the French GDP or 128% of its national debt. [1] France operates a deposits guarantee fund, known as the Fonds de Garantie des Depôts.