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Crédit du Nord Plans to Close 10% of its Branches by 2020

Credi du Nord is set to close 10 percent of its branches
An agency of Crédit du Nord, September 12, 2011 in Paris – Michel Gangne ​​AFP

In the wake of its parent Société Générale, Crédit du Nord will remove about 80 outlets by 2020, about 10% of its network, said  its CEO Philippe Aymerich

In the wake of its parent Société Générale, Crédit du Nord will remove about 80 outlets by 2020, about 10% of its network, said Thursday its CEO Philippe Aymerich.

The main “adjustments” will take place in large cities, the official said to the daily Les Echos.

The Crédit du Nord parent company, Société Générale, has embarked on a major reform plan for its retail banking and announced November 5 removing 20% ​​of Société Générale branches.

The deputy CEO of the bank Bernardo Sanchez Incera, had then warned that combinations of agencies was to be expected in the Crédit du Nord network, but far less significant than Générale.

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