French lender BPCE buys German fintech flagship Fidor
French banking group BPCE has acquired one of Germany's best-known online banks, Fidor, to accelerate its push into digital services, it said on Thursday.
www.reuters.com
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French banking group BPCE has acquired one of Germany’s best-known online banks, Fidor, to accelerate its push into digital services
For BPCE, France’s second-largest banking group, the acquisition marks the move into digital services as more customers handle their business online.
“This operation constitutes a milestone in the acceleration of the digital transformation of our group,” BPCE CEO Francois Perol said in a statement.
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Made sense at time I guess. But Fidor is and always has been a loss making bank. It does not make any money so best to strip the best bits of it and let it die peacefully.