Building and loan association of France

The Building and loan association is an financial institution specialized in the Financement of the real estate in France.

Activity

Subsidiary company of the Savings bank Group, the Building and loan association proposes various services of appropriations, loans and financial montages to the companies and the private individuals. It finances also the activities of the administrations and the companies of the Public sector in France and abroad.

The Building and loan association, which counts more than 1,2 4.000 collaborator and customer million, realized in 2006 a bottom line of 350 million euros.

History

Created the March 28th 1852 by Louis-Napoleon Bonaparte, the land Bank of Paris becomes the Building and loan association of France (CF) the December 10th 1852. This new establishment is placed under the authority of the ministry for Finances and is directed by an assisted governor of two deputy governors.

The Building and loan association is created to finance the modernization of agriculture via long-term loans (50 years). But starting from 1860, attributions of the Building and loan association extend to the financing from the Local government agencies to answer the initiatives of the Second Empire equipment urban development. It engages then in the financing of the great urban work launched on the initiative of the Baron Haussmann, taking part in particular in the Transformations of Paris under the Second Empire.

Its role is also to put a little order in the sector of the financing of the private individuals, which then missed official establishments and circuits. The government decides in particular that the long-term credits and the mortgage deeds will be financed by emission of land obligations or of letters of Gage.

The Building and loan association then competes with directly the Deposit and consignment office during nearly 50 years. Under the IIIe Republic, Jules Ferry rests on him to launch the construction of schools. But following mishaps abroad, in particular in Egypt, and with the crisis of the Parisian real estate, its leaders decide in the Années 1880 to invest in province, then in the real estate in Paris region. The financial problems mark the period of the interval wars.

After the Second world war, the CF occupies a leading role in the effort of rebuilding. Its principal activity concentrates then gradually on the loans with the communes and the private individuals. Supported by the public authorities, the establishment widens its range of services and distributes, in the years 1970-1980, 75% of the loans helped by the State. As from 1985, the CF is repositioned on the market of the local government agencies then undergoes the crisis of the real estate before losing the quasi-monopoly which it held on the distribution of the PAP (ready helped in possibility of home-ownership), which will be replaced in 1996 by the Prêt withrate zero.

The CF then yields part of its subsidiary companies and is centred on the Real estate credit, the related services with the saving and the Crédit, the administration of goods and the patrimonial activity.

Privatisé in 1999, the establishment is repurchased by the Groupe Savings bank. Its head office settles in 2002 with Charenton-the-Bridge. In 2005, the Building and loan association of France amalgamates with Entenial (fusion of the Counter of the Contractors and the bank Hénin), A3C and Building and loan association Bank and obtain the statute of Banque.

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