By Andrei Skvarsky.
French investment bank Natixis has become the sole owner of Titres Cadeaux, which is also known as Titres Cado and is France’s fourth-biggest gift voucher operator, after buying a 50 per cent stake in it from La Banque Postale, a subsidiary of French postal service company La Poste.
La Poste will remain the main distributor of Titres Cadeaux vouchers through its post offices after the takeover while Natixis Payments, the investment bank’s payments division, plans to help boost the development of gift product business at the voucher firm, Natixis said in a statement.
By the end of 2017, Titres Cadeux, which Natixis and La Banque Postale set up in 2006 and in which they held equal shares before its takeover by Natixis, had issued 123m euros’ worth of vouchers.
Titres Cadeaux designs vouchers of various brands and oversees their distribution to individual customers and businesses, according to the statement.
Natixis, which is headquartered in Paris and has more than 21,000 employees, is an arm of Groupe BPCE, France’s second-largest banking group. BCPE brings together two retail banking networks, Banque Populaire and Caisse d’Epargne, which in total have 31m clients.
Natixis Payments is the leading issuer of Visa cards in continental Europe, managing 20m cards and 7bn transactions annually.
La Banque Postale, which also has its headquarters in Paris, has about 10.5m clients.
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