French mutual banks Mini-moi

A small new giant might soon be born. That is a fair summary of the proposed creation of Natixis, a wholesale bank that could have a E25bn market capitalisation. The basic idea makes sense, but Natixis faces some substantial obstacles, both before and after its possible birth. Natixis would combine the wholesale bank operations of two mutual French banking groups, the Caisses d’Epargne and Banques Populaires. The Banques Populaires’ wholesale operations are held in Natexis, 76% -owned by the ho...