Crédit mutuel : the Confederation breaks the dialog with Arkéa

The project of independence of the Crédit mutuel Arkéa bogged down. This entity, which brings together the federations of Britain, the South-West and, for the t

Crédit mutuel : the Confederation breaks the dialog with Arkéa

The project of independence of the Crédit mutuel Arkéa bogged down. This entity, which brings together the federations of Britain, the South-West and, for the time being, in the Massif central, scrap metal for several years to exit the Confédération nationale du Crédit mutuel (CNCM), structure of the head group's mutual banking. However, the Confederation has decided to "close" the discussions started in the fall between the two parties, by counsel interposed, and at the request of the public authorities. She claims not to have received worthwhile project.

In fact, in a letter sent Wednesday, December 19, the French public authorities and the european central Bank (ECB), having been consulted by Le Figaro , Nicolas Thery, the president of the CNCM, is estimated to have proposed a "solution of disaffiliation". But the leaders of Arkéa responded "valid no" proposals. And the Confederation says it wants to now "stop wasting valuable time on a folder that does today is based on any serious request".

The central body required including Arkéa a "quit now" trademark, logo and slogan of the Crédit mutuel and the vote of all the members on the project. And the payment of a compensation of € 1.7 billion. It is intended to "recreate a network (Credit mutuel), Brittany, and Aquitaine". And to "offset the entire costs of the operation related to the conflict and withdrawal".

"Attempted extortion"

The CNCM application as to what Arkéa, which has notably committed a criminal procedure for conflict of interest against Nicolas Théry and several other leaders of the Confederation, shall waive all litigation "current and future".

Arkéa, at war with the Confederation for nearly four years, was sent to his round on Friday a letter virulent to the French public authorities and the eu supervisor, which Le Figaro has also had a copy. The bank breton accuses the Confederation of the "falsification of the truth" and "presentation caricatured, or even deceptive", in order to seek "the price of counter-truths, to come back on the very principle of discussions intended to allow an orderly exit".

" READ ALSO - Arkéa number of initiatives to raise awareness

The leaders of Arkéa consider also the compensation of 1.7 billion euros "unable to honor". In fact, it represents half of the reserves of the entity in mutual. "The CNCM is engaged in a manoeuvre akin to an attempted extortion," write the leaders of Arkéa. But most importantly, it blocks the process of separation orderly."

From a legal point of view, Arkéa may not leave the bosom of the Confederacy unilaterally. The two parties must agree on the terms of separation (withdrawal). Without this step, Arkéa not possible to obtain a new banking license of the european central Bank. Arkéa, does not intend to disarm. She has been working for months with the banking supervisor european to a proposed new bank, which would more mutual. However, the procedure drags on. "The file remains incomplete", asserts the close of the record.

Date Of Update: 25 Aralık 2018, 00:00

Kathleen Lees

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