La Poste to give consumer credit with Societe Generale

The banking arm of the French postal service, La Banque Postale, is to provide consumer credit by the end of next year in partnership with Societe Generale, French daily Les Echos reported on Tuesday.

The proposal was reported as the French government mulls a partial privatisation of the French postal service.

The daily said the joint-venture, which involves SocGen unit Franfinance, is to be approved by La Banque Postale’s board on Thursday. One option being considered would see La Poste contribute to the venture in paper and Societe Generale in cash.

The banking arm of the French postal service, La Banque Postale, is to provide consumer credit by the end of next year in partnership with Societe Generale, French daily Les Echos reported on Tuesday.

The proposal was reported as the French government mulls a partial privatisation of the French postal service.

The daily said the joint-venture, which involves SocGen unit Franfinance, is to be approved by La Banque Postale’s board on Thursday. One option being considered would see La Poste contribute to the venture in paper and Societe Generale in cash.