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Fidor Bank Acquired by France’s BPCE Groupe

France’s second largest bank, Groupe BPCE, announced the acquisition of innovative online bank, Fidor. The group signed an agreement with the key shareholders, the founders and managers of Fidor Bank AG with regard to the acquisition of their equity interests in the company. The planned acquisition of Fidor is in line with Groupe BPCE's strategic plan Another Way to Grow and will contribute to the acceleration of the rollout of the group’s digital strategy. It is a step by BPCE to lead digital banking amid the rapidly changing landscape of financial services, marked by new customer demands and the entrance of digital-only players.

Founded in 2009 by its CEO Matthias Kroner, Fidor is one of the world’s first ‘FinTech Bank’ which is ...

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