La Banque Postale, un nouvel acteur du financement local, avec la

PRESS RELEASE
Paris, February 10th 2012
La Banque Postale and Caisse des Dépôts
are creating a dedicated local financing joint venture
The Supervisory Board of La Banque Postale, and the Board of Directors of the La Poste
Group, which met today, have approved the local authority financing model drawn up
within the context of negotiations between La Banque Postale, Caisse des Dépôts, Dexia
SA, and Dexia Crédit Local, which are now joined by the French Government.
This new financing model for local authorities is based on the creation of a joint venture,
which will be 65% owned by La Banque Postale, and 35% owned by Caisse des Dépôts,
and the purpose of which will be to improve the financing services offered to local
authorities.
The joint venture’s status will be that of a credit institution, and it will be responsible for
marketing the services relating to the new loans that it will generate.
The new financing offering will consist of a range of simple cash-backed loans, with a
transparent pricing structure.
To refinance these new loans, the La Banque Postale and Caisse des Dépôts joint venture
will rely on Dexia Municipal Agency (Dexma), the mortgage company, which is now
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backed by a management company , and controlled by a holding company in which the
French Government, Caisse des Dépôts and La Banque Postale will be shareholders.
La Banque Postale will therefore be able to monitor the management procedures for its
new loans, and gradually to increase its shareholding in the public holding company,
depending on the loan generation entrusted to Dexma.
La Banque Postale and Caisse des Dépôts will use a certain number of Dexia Crédit
Local's tools and resources within their joint subsidiary, in order to be able to offer their
new range quickly.
In addition, in order to meet all local financing requirements, La Banque Postale will also
be in a position to offer local sector players a range of financing, primarily short-term.
La Poste and La Banque Postale are boosting their commitment to local players all over
France through this development.
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This company will have the status of a credit institution, in accordance with the regulatory constraints
governing the backing of mortgage companies.
Jean-Paul Bailly, Chairman and Chief Executive of La Poste, stated: “As players who
have been committed to regional development for many years, La Poste and La Banque
Postale are building a new platform to serve the public interest.”
Philippe Wahl, Chairman of La Banque Postale’s Executive Board added: “La Banque
Postale will enter this new market by following the same principles as for its new
business activities: a gradual launch, a controlled risk policy, and a profitable
development model.”
This new financing activity therefore rounds out the loan range offered and planned as
part of La Banque Postale's 2011-2015 strategic plan, namely “Putting the customer's
interests first: let's show that we are different”.
La Banque Postale and Caisse des Dépôts will henceforth focus on implementing this new
model in order to offer their new loan ranges at the end of the first half of 2012.
The implementation of these negotiations will be subject to the agreement of the
competent banking and competition authorities.
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La Banque Postale (www.labanquepostale.fr)
La Banque Postale, the banking subsidiary of the La Poste group, is a unique and special bank operating in the
French retail banking market. As an institution that is faithful to its core values: acting in the general interest,
confidentiality and closeness to its customers, La Banque Postale puts welcoming all its customers at the heart
of its business. It supports its retail and corporate customers by providing a sustainable banking relationship,
with an accessible and reasonably-priced range of products and services. It is continually adding to its product
range, specifically through relying on the expertise of its subsidiaries and partners, thus entering new areas.
La Banque Postale is accessible 24/7, anywhere, any time.
La Banque Postale means:
• NBI of €5.215 billion
• 11.4 million Post Office current accounts
• 10.04 million active customers
• 480,000 customers who are Companies, Local Authorities and Voluntary Organisations
• 5,981 cash and electronic payment machines in France
• €322.7 billion in outstanding customer deposits
• Over 6.6 million bank cards, i.e. 10.8 % of the market
• 17,000 contact points
(Data as at the end of 2010)