Banque Palatine is a French bank founded in 1780 in

Lyon Lyon,, ; Occitan language, Occitan: ''Lion'', hist. ''Lionés'' also spelled in English as Lyons, is the List of communes in France with over 20,000 inhabitants, third-largest city and Urban area (France), second-largest metropolitan area of F ...

, and is therefore one of the oldest French banks still being run. It is today a full branch subsidiary of the mutual group

BPCE Groupe BPCE (for Banque Populaire Caisse d'Epargne) is a major French banking group formed by the 2009 merger of two major retail banking groups, Groupe Caisse d'Épargne and Groupe Banque Populaire. As of 2021, it was France's fourth largest ba ...

. Its core businesses are retail banking with small and medium-sized enterprises, private banking and asset management. Its headquarters is in Paris downtown, in the la Madeleine neighbourhood. Its long-term debt rating is Aa3 (Moody's).

Activities

Wealth management bank

The Palatine Bank provides services in three domains: wealth management, investment advice and management of current accounts. Its customers are composed of business executives, members of the liberal professions, middle management, non-residents and pensioners. Within the Palatine Bank the management of the private customer market is devoted to asset management.

Bank of firms

Banque Palatine offers financial and banking expertise to midcap companies (ETI) whose turnover exceeds 15 million euro: funding projects abroad, corporate finance, real estate consultancy, large companies.

Management of assets

Palatine Asset Management is the subsidiary of the Palatine Bank specialized in the management of assets. It manages 70 funds.

History

In the end of the 18th century the Vernes family of Ardéchoise origin established in Lyons on the Helvetic bank of the

Lake Geneva , image = Lake Geneva by Sentinel-2.jpg , caption = Satellite image , image_bathymetry = , caption_bathymetry = , location = Switzerland, France , coords = , lake_type = Glacial la ...

having taken refuge in the

edict of Nantes The Edict of Nantes () was signed in April 1598 by King Henry IV and granted the Calvinist Protestants of France, also known as Huguenots, substantial rights in the nation, which was in essence completely Catholic. In the edict, Henry aimed pr ...

revocation. The family founded the house of bank ''Vernes et Compagnie'' in 1780. This family bank was established in Paris in 1821 and acquired very fast a strong notability in the world of business and a big competence in management of fortunem Carf - courtier en affacturage
attaining a reputation comparable to the houses of

Rothschild Rothschild () is a name derived from the German ''zum rothen Schild'' (with the old spelling "th"), meaning "with the red sign", in reference to the houses where these family members lived or had lived. At the time, houses were designated by sign ...

and Mallet. Following the example of other families of Haute Banque8, the Vernes family was intimately linked to the

Banque de France The Bank of France ( French: ''Banque de France''), headquartered in Paris, is the central bank of France. Founded in 1800, it began as a private institution for managing state debts and issuing notes. It is responsible for the accounts of the ...

directly (Charles Vernes was sub-governor of the Bank of France from 1832 till 1857, Adolphe Vernes was regent from 1886 till 1907 and Jules Félix Vernes was regent from 1921 till 1934) and indirectly by the savoir-faire of the descendants who married daughters or cousins of regents. The family was also linked to the

Groupe Caisse d'Épargne Groupe Caisse d'épargne was a French cooperative banking group, with around, 4700 branches in the country. Its origins go back to the founding in 1818 of the , France's first savings bank. The group was active in retail and private banking, as ...

(Charles Vernes became censor in 1823, then vice-president in 1844, and Félix Vernes was guiding there in 1879). In 1871 the home Vernes and Company set up a fund of foresight for its employees to finance their retirement. This fund was financed by sums taken from benefits, and set rights set made the object of nominative capitalization. In 1972, about a year after the first debates between Jean-Mark Vernes and

Marcel Dassault Marcel Dassault (born Marcel Ferdinand Bloch; 23 January 1892 – 17 April 1986) was a French engineer and industrialist who spent his career in aircraft manufacturing. Early life and education Born on 23 January 1892 in Paris, he was the young ...

,Archive du nouvel observateur
/ref> the Vernes bank merge with the commercial Bank of Paris (in former days Josse, Lippens and Cie until 1952) and constitute then the Vernes bank and commercial of Paris (or BVCP). In 1978 the bank participated in the Bank Michel Inchauspé.

References

{{Reflist

Bibliography

* Auteurs multiples, ''Histoire de banques, histoires d'une banque'', éditions Télémaque, 2011 * Daniel Karyotis, avec la collaboration de Fabien Piliu, ''La France qui entreprend, plaidoyer pour les entreprises à fort potentiel de croissance'', éditions Democratic books, 2011

External links

Banque Palatine profile (in English)

Site de la Banque palatine

Site sur la gestion de patrimoine, www.optimisersonpatrimoine.com

Site sur le financement des PME-ETI, www.financersonentreprise.com

Site du Cercle des ETI

Site du groupe BPCE

Palatine A palatine or palatinus (in Latin; plural ''palatini''; cf. derivative spellings below) is a high-level official attached to imperial or royal courts in Europe since Roman times.

Banks established in 1780 Companies based in Paris French brands BPCE