Crisis and the Second World War

The Banque Nationale pour le Commerce et l'Industrie was created on April 18th, 1932. It was built on what remained of Banque Nationale de Crédit, which had fallen victim to the worldwide depression.

BNC's shareholders, convened to a special meeting of shareholders on February 26, 1932, decided on the following:

• the early dissolution of the company,
• its amicable liquidation, and
• the creation of a new company.

Acting on the authority of the French government, Albert Buisson, Chairman of the Commercial Court of the Seine District, assumed responsibility for setting up this new financial institution. The BNCI had a capital of 100 million francs, and Buisson became the first Chairman of the Banque Nationale pour le Commerce et l'Industrie. This new bank took over the staff, offices and customers of the former BNC and set up its headquarters at 16 boulevard des Italiens, Paris.

Alfred Pose, then Director of the Research Department at Société Générale Alsacienne de Banque in Strasbourg, accepted the post of Managing Director of the new bank. Immediately following his arrival, he launched an energetic plan of reorganization and modernization.

With the creation of its administrative center in Bordeaux in 1934, BNCI introduced innovative working methods. Under the new system, administrative tasks were henceforth to be carried out in back offices. The bank gradually set up eight centers for regional administration, equipped with systems that made it possible to process current operations in volume and to serve its customers much more rapidly.

A period of regional expansion began in 1937. BNCI increased its network through a methodical policy of acquiring regional or local banks, often those that were in difficulty, for example Banque Adam, Banque des Alpes, Banque du Dauphiné, or Caisse Commerciale de Saint-Quentin. Just before the outbreak of the Second World War, it also took control of Banque Générale de Guyenne in Bergerac, Banque Roque in Brive, and Banque Dastre in Saint-Gaudens. Deposits increased from just 3 billion francs in 1932 to 10 billion francs in 1940.