Crédit du Nord
| Company type | Subsidiary |
|---|---|
| Industry | Banking |
| Founded | 1848 in Lille, France |
| Defunct | 2023-01-01 |
| Fate | Integrated into Société Générale |
| Successor | Société Générale |
| Headquarters | Lille , France |
Area served | France |
| Products | Retail banking, stock brokerage (via Gilbert Dupont) |
| Owner | Société Générale |
Number of employees | (2006) |
| Parent | Société Générale |
Crédit du Nord () was a French retail banking group made up of multiple regional banks:
- Banque Courtois, based in Toulouse, Aquitaine (notably France's oldest bank, established in 1760)
- Banque Kolb, serving Alsace and Lorraine
- Banque Laydernier, located in Savoy
- Banque Nuger, covering the Massif Central region
- Banque Rhône-Alpes, headquartered in Lyon
- Banque Tarneaud, operating in Limoges
- Société Marseillaise de Crédit, centered in Marseille
- The main Crédit du Nord brand operating across other French regions
- Gilbert Dupont, a firm specializing in stock brokerage
As a wholly owned subsidiary of Société Générale, Crédit du Nord focused on catering to professionals and small enterprises, reaching approximately 1.5 million clients through over 700 branches as of 2006.
History
Originating in Lille in 1848, Crédit du Nord grew by acquiring various regional banks, each maintaining its original identity. From 1972 to 1988, it was incrementally taken over by Paribas, functioning as an independent network throughout this period. By 1984, it stood as the fifth-largest banking group in France and underwent a corporate redesign featuring a refreshed logo and updated branch aesthetics to enhance its market position.
In 1997, Société Générale purchased the entire Crédit du Nord network from Paribas. Starting in 2000, ownership was divided with Société Générale holding 80% and Dexia owning 20%. The integration into Société Générale was finalized on January 1, 2023.
The brand SG Crédit du Nord now represents both former Crédit du Nord and Société Générale outlets located in northern France. Meanwhile, other regional brands continue under Société Générale’s umbrella, preserving their historical names:
- SG Tarneaud operating within Centre-Val de Loire and parts of Nouvelle-Aquitaine (with some branches branded as SG Sud-Ouest)
- SG Courtois serving the Occitanie region
- SG SMC (Société Marseillaise de Crédit) active in Provence-Alpes-Côte d'Azur
- SG Laydernier covering sections of Auvergne-Rhône-Alpes (other branches branded as SG Auvergne-Rhône-Alpes)
Controversy
In 2010, the French competition regulator imposed fines totaling €384.9 million on eleven banks, including Crédit du Nord, for coordinating to levy unwarranted fees related to check processing. These sanctions targeted additional charges applied during the transition from traditional paper check transfers to the electronic "Exchanges Check-Image" platform.