Credit Commercial de France will adopt HSBC Group's brand across its entire branch network, it has revealed. The brand reshuffle will see the HSBC brand rolled out across CCF's branches, including Banque de Picardie, Union Bancaire Privee and Banque Hervet's branches in the Paris region.
The changes are part of a new strategic plan presented by Credit Commercial de France (CCF) to the bank’s Works Council and staff in France. This is designed to help accelerate growth in its key customer groups over the next few years by improving service to customers through greater integration with the International business resources of HSBC.
CCF will also improve its commercial banking capabilities and services to core customers by opening 150 new branches across its networks and recruiting almost 1,000 new commercial banking staff.
The new strategic plan is designed to help CCF increase its revenues by around 45% between 2003 and 2008 while reducing its cost to income ratio by up to 2% every year during the same period.
Charles-Henri Filippi, CEO of CCF, said: The HSBC Group’s geographical reach, financial strength and global technology resources are huge assets which, combined with our own acknowledged expertise in relationship retail banking in France, will enable us to offer our customers a better service and convince many more to join us.
HSBC acquired CCF for E11billion in 2000.