Reconstruction and prosperity: "Les Trente Glorieuses"

1945 Comptoir National d'Escompte de Paris and Banque Nationale pour le Commerce et l'Industrie

BNCI locations in 1941.

Nationalization of major retail banks

After the end of the Second World War, the French State decided to "put banks and credit to work for national reconstruction". René Pleven, then Minister of Finance, launched a massive reorganization of the banking industry. A law passed on December 2, 1945 redefined the regulatory framework governing the industry and decreed the nationalization of the Banque de France and the four leading French retail banks: BNCI, CNEP, Crédit Lyonnais and Société Générale. It went into effect on January 1, 1946.

Shares in these companies were transferred to the French State, which assumed complete ownership of the financial institutions. The boards of directors were dissolved and twelve new directors were appointed at each bank.

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