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Acquiring a bank

Acquiring a bank is complicated transaction. It involves all the processes of acquisition including receiving financial regulatory approvals.
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  • FRANCE

    Inhabitants - 65,312,249 (July 2011)

    Language - French (official) 100%, rapidly declining regional dialects and languages (Provencal, Breton, Alsatian, Corsican, Catalan, Basque, Flemish)

    Currency - EURO (EUR)

    Religion - Roman Catholic 83%-88%, Protestant 2%, Jewish 1%, Muslim 5%-10%, unaffiliated 4%

    Politics - France is a semi-presidential, representative and democratic republic in which the President of France is head of state the Prime Minister of France is the head of government, and there is a multi-party system. Executive power is exercised by the government. Legislative power is vested in the government, Senate and National Assembly. The judiciary is independent of the executive and the legislature.

  • Major industries - machinery, chemicals, automobiles, metallurgy, aircraft, electronics, textiles, food processing, tourism

    Banks (2010) - 305 banks; 28 633 branches; 434,311 employees; assets – EUR 7,83 trillion; loans – EUR 2,39 trillion; deposits – EUR 2,13 trillion 

    Banking regulations – The Prudential Control Authority (CPA) is the oversight body of the French banking and insurance industry. Created by instructions approved on 21 January 2010 and installed in March 2010, the CPA resulted from the merger of accreditation authorities (CEA - the Business Insurance Committee and CECEI - Credit Institutions and Enterprises Investment) and control institutions (the Banking Commission and CAMA-Control Authority Insurance and Mutual) of the banking and insurance industry. The PCA is responsible for licensing and supervision of banks and insurance agencies . It also represents France at international forums in relation to the areasof its jurisdiction. The PCA is an independent authority , backed by the Bank of France. The minimum amount of own funds for a bank must be at least EUR 5 million