Banque Française Commerciale Océan Indien (BFCOI) is a French bank that since 2003 has been jointly owned by Mauritius Commercial Bank and Société Générale. It has its headquarters in Saint Denis, Réunion. It has more than 360 employees and more than 80 000 clients in its operations in Réunion (13 branches), Mayotte (three branches), and Paris (one branch), which primarily engages in private banking.
Historyedit
In 1984, the Banque Française Commerciale (BFC; the former Franco-Chinese Bank) restructured itself as a holding company. It established three legally and operationally distinct companies: Banque Française Commerciale en France Métropolitaine (BFC), with branches in France; BFCOI, with branches in Reunion, Mayotte and the Seychelles; and Banque Française Commerciale Antilles-Guyane (BFCAG), with branches in French Guiana and the Antilles. Banque Indosuez owned the entire share capital of all three entities.
Banque Indosuez sold a majority position (66.66%) in BFCOI to Mauritius Commercial Bank (MCB) in 1996; Banque Indosuez retained 22.22%. The next year, BFCOI opened a branch in Paris. In 1997, BFCOI opened a representative office in Mozambique.
In 2000, MCB acquired the minority stake Crédit Agricole Indosuez held in BFCOI, increasing its stake to 88.88%. This followed the takeover of Banque Indosuez by the Crédit Agricole Group, which itself had operations in both Reunion and Mayotte in direct competition with BFCOI. BFCOI became the representative of Banque française mutualiste [fr] in the Indian Ocean region.
Joint ventureedit
In early 2003, the Bank finalized an agreement with Société Générale, establishing joint (50:50) ownership of BFCOI. However, BFCOI's Seychelles operations fell outside the scope of the agreement. Instead, MCB incorporated a new fully owned subsidiary, The Mauritius Commercial Bank (Seychelles), trading under the name of MCB Seychelles, to take over the assets and liabilities of the Seychelles-based banking network of BFCOI.
banque, française, commerciale, océan, indien, bfcoi, french, bank, that, since, 2003, been, jointly, owned, mauritius, commercial, bank, société, générale, headquarters, saint, denis, réunion, more, than, employees, more, than, clients, operations, réunion, b. Banque Francaise Commerciale Ocean Indien BFCOI is a French bank that since 2003 has been jointly owned by Mauritius Commercial Bank and Societe Generale It has its headquarters in Saint Denis Reunion It has more than 360 employees and more than 80 000 clients in its operations in Reunion 13 branches Mayotte three branches and Paris one branch which primarily engages in private banking History editIn 1984 the Banque Francaise Commerciale BFC the former Franco Chinese Bank restructured itself as a holding company It established three legally and operationally distinct companies Banque Francaise Commerciale en France Metropolitaine BFC with branches in France BFCOI with branches in Reunion Mayotte and the Seychelles and Banque Francaise Commerciale Antilles Guyane BFCAG with branches in French Guiana and the Antilles Banque Indosuez owned the entire share capital of all three entities Banque Indosuez sold a majority position 66 66 in BFCOI to Mauritius Commercial Bank MCB in 1996 Banque Indosuez retained 22 22 The next year BFCOI opened a branch in Paris In 1997 BFCOI opened a representative office in Mozambique In 2000 MCB acquired the minority stake Credit Agricole Indosuez held in BFCOI increasing its stake to 88 88 This followed the takeover of Banque Indosuez by the Credit Agricole Group which itself had operations in both Reunion and Mayotte in direct competition with BFCOI BFCOI became the representative of Banque francaise mutualiste fr in the Indian Ocean region Joint venture editIn early 2003 the Bank finalized an agreement with Societe Generale establishing joint 50 50 ownership of BFCOI However BFCOI s Seychelles operations fell outside the scope of the agreement Instead MCB incorporated a new fully owned subsidiary The Mauritius Commercial Bank Seychelles trading under the name of MCB Seychelles to take over the assets and liabilities of the Seychelles based banking network of BFCOI External links edithttp www bfcoi com nbsp Banks portal Retrieved from https en wikipedia org w index php title Banque Francaise Commerciale Ocean Indien amp oldid 1150582634, wikipedia, wiki, book, books, library,
