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French bank BPCE targets 750 mln euros of cost savings for retail networks
February 21, 2017 / 9:25 AM / 7 months ago

French bank BPCE targets 750 mln euros of cost savings for retail networks

PARIS, Feb 21 (Reuters) - France’s second-biggest retail bank BPCE said it would cut 5 percent of its branches and was aiming at 750 million euros ($791.3 million) in cost savings as part of a plan to boost its digital banking services.

BPCE, which owns Natixis, also said it would invest 790 million euros in its networks, that include 8,000 branches in France.

$1 = 0.9479 euros Reporting by Julien Ponthus and Maya Nikolaeva; Editing by Sudip Kar-Gupta

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