Banque Palatine


Banque Palatine was founded in 1780 in Lyon, and is therefore one of the oldest French banks still being run. It is today a full branch subsidiary of the mutual group BPCE. Its core businesses are retail banking with small and medium-sized enterprises, private banking and asset management. Its headquarters is in Paris downtown, in the la Madeleine neighbourhood.
Its long-term debt rating is A+ and Aa3.

Activities

Patrimonial bank

The Palatine Bank provides services in three domains: patrimonial advice, advice in investment and management of daily count. Its customers are composed of business managers, liberal professions, frames, non-residents and pensioners. Within the Palatine Bank the Direction of the market of the private customers is devoted to the management of heritage.

Bank of firms

Banque Palatine offers financial and banking expertise to midcap companies whose turnover exceeds 15 million euro: funding projects abroad, corporate finance, real estate consultancy, large companies.

Management of assets

Palatine Asset Management is the subsidiary of the Palatine Bank specialized in the management of assets. It manages 70 funds.

History

In the end of the 18th century the Vernes family of Ardéchoise origin established in Lyons on the Helvetic bank of the Lake Geneva having taken refuge in the edict of Nantes revocation. The family founded the house of bank Vernes et Compagnie in 1780. This family bank was established in Paris in 1821 and acquired very fast a strong notability in the world of business and a big competence in management of fortunem attaining a reputation comparable to the houses of Rothschild and Mallet. Following the example of other families of Haute Banque8, the Vernes family was intimately linked to the Banque de France directly and indirectly by the savoir-faire of the descendants who married daughters or cousins of regents. The family was also linked to the Groupe Caisse d'Épargne.
In 1871 the home Vernes and Company set up a fund of foresight for its employees to finance their retirement. This fund was financed by sums taken from benefits, and set rights set made the object of nominative capitalization.
In 1972, about a year after the first debates between Jean-Mark Vernes and Marcel Dassault, the Vernes bank merge with the commercial Bank of Paris and constitute then the Vernes bank and commercial of Paris. In 1978 the bank participated in the Bank Michel Inchauspé.