ABN AMRO Awarded Trade Mandate by Groupe Caisse d'Epargne
ABN AMRO has been awarded a mandate by Groupe Caisse d’Epargne (GCE) to provide outsourced and white-labelled trade services. The agreement, believed to be the first of its kind in mainland Europe, will see Groupe Caisse d’Epargne make use of ABN AMRO’s trade services technology and global network. It will enable Groupe Caisse d’Epargne to compete more effectively for trade business and build its market share. Nicolas Merindol, member of the board of Directors responsible for Commercial Banking & Strategy of la Caisse Nationale des Caisses d’Epargne explained: “To serve the needs of corporate clients we created a new Group subsidiary, ‘Banque Palatine’. Our partnership with ABN AMRO will enable Palatine to provide market-leading trade finance services – a core part of its offering.” Groupe Caisse d’Epargne is the third largest banking network in France with around 26 million customers. It comprises the 32 regional Caisse d’Epargne and member banks, Banque Palatine and the Financière OCEOR.