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Former bank in Saint-Pierre-et-Miquelon, France From Wikipedia, the free encyclopedia
The Banque des Îles Saint-Pierre-et-Miquelon was a bank of issue on the islands of Saint Pierre and Miquelon, France. It was established in 1889, lost its monetary role in the late 1910s, and in 2015 became a fully-owned subsidiary of Caisse d'Épargne Provence Alpes Corse (CEPAC).
Unlike its older peers in Guadeloupe, French Guiana, Martinique, Réunion, or Sénégal, the Banque des Îles Saint-Pierre-et-Miquelon was born of private-sector initiative rather than as a government project. It was established in 1889 by Saint-Martin Légasse of the Légasse family of French Basque descent.[1]
The bank lost its issuance privilege in the aftermath of World War I, when it was taken over directly by the Bank of France.[1] The Banque des Îles Saint-Pierre-et-Miquelon survived as a commercial bank. In June 2009, it merged with the Crédit Saint-Pierrais to form the Banque de Saint-Pierre-et-Miquelon (BDSPM). In 2015, BDSPM was taken over by the Caisse d'Épargne Provence-Alpes-Corse (CEPAC), an entity of Groupe BPCE based in Marseille. The CEPAC fully absorbed the BDSPM in 2016,[2] at the same time as it did with the former Banque des Antilles Françaises and Banque de la Réunion.[3]
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