Banque de la Réunion
A historic Réunion-based bank founded in 1853 as a bank of issue and later operated as a commercial bank until its brand was phased out in 2016.
Last updated August 26, 2026
AI crawler reads
No AI crawler has read this profile since Oct 28, 2026.
Overview
Banque de la Réunion was a historic banking institution based in Saint-Denis on the French island of Réunion. Established in 1853, it was created within the post-abolition financial framework of the French colonies and initially combined two functions: commercial banking and the issuance of local bearer notes. Its monetary role made it part of a wider group of colonial banks that served both as lenders and as local currency authorities. The bank opened on 4 July 1853 with Jean Desse as its first director and a staff of ten. In 1859 it moved into a purpose-built headquarters known as the Hôtel de la Banque. Its early activities included lending and discount banking, while its bank-of-issue privilege allowed its notes to circulate as legal tender on Réunion. The institution later expanded its physical presence beyond Saint-Denis, opening a branch in Saint-Pierre in 1904. Banque de la Réunion became a publicly traded company when it was listed on the Paris Stock Exchange on 4 November 1878. Its monetary importance declined during the Second World War. On 1 July 1944, the Caisse Centrale de la France d'Outre-Mer assumed monetary authority for Réunion, and the introduction of the CFA franc in late 1945 ended the bank's role as the island's issuer of currency. The institution nevertheless continued as a commercial bank. A major structural change came in 1955, when Banque de la Réunion merged with the local Société Bourbonnaise de Crédit. Crédit Lyonnais acquired half of the capital of the combined institution. The enlarged bank temporarily used the name Banque de la Réunion et Société Bourbonnaise de Crédit Réunies before returning to the shorter Banque de la Réunion name a few years later. By 1994, the bank had 360 employees and 16 branches. Its consolidated balance sheet was reported at 4.9 billion French francs, making it the second-largest bank on Réunion at that time, with an estimated 17 percent market share. Its network subsequently extended to Mayotte, reaching 20 branches on Réunion and three in Mayotte by 2005. Ownership shifted decisively toward the Caisse d'Épargne network in the late twentieth and early twenty-first centuries. On 4 December 1998, Caisse d'Épargne Provence Alpes Corse acquired 52.2 percent of Banque de la Réunion's equity. In 2002, the bank became part of Financière Océor, the Caisse d'Épargne group's overseas-banking structure. Following the restructuring of Financière Océor after heavy losses in 2009–2010, Banque de la Réunion became a majority-owned subsidiary of BPCE IOM, an overseas banking entity within Groupe BPCE. In 2015, BPCE IOM acquired the shares it did not already hold, making it the bank's full owner, and later that year transferred the institution to CEPAC. The Banque de la Réunion brand was phased out in November 2016. The institution's history therefore spans three distinct periods: colonial bank of issue, postwar commercial bank, and regional subsidiary within the Caisse d'Épargne and Groupe BPCE banking structures.
History
Banque de la Réunion was founded in the context of French colonial financial reforms following the abolition of slavery. The French law of 30 April 1849 provided for part of the compensation associated with emancipation to support the creation of loan and discount banks in Guadeloupe, Martinique, and Réunion. A subsequent law of 1 July 1851 authorized these institutions to issue bearer notes that were payable on demand at the issuing bank and accepted as legal tender within the colony. Banque de la Réunion opened in Saint-Denis on 4 July 1853. Jean Desse served as its first director, and the initial workforce consisted of ten employees. Like comparable colonial institutions, the bank combined ordinary commercial banking with the exceptional function of issuing currency. Its headquarters, known as the Hôtel de la Banque, was inaugurated in 1859. The institution expanded its local network with a branch in Saint-Pierre opened on 12 May 1904. The bank was listed on the Paris Stock Exchange on 4 November 1878. Its issuance function ended during the institutional changes of the Second World War. On 1 July 1944, the Caisse Centrale de la France d'Outre-Mer was designated monetary authority for Réunion and several other French overseas territories. The CFA franc was introduced on Réunion in late 1945 and issued there by the Caisse Centrale, leaving Banque de la Réunion to operate as a commercial bank. In 1955, the bank merged with Société Bourbonnaise de Crédit. Crédit Lyonnais acquired 50 percent of the capital of the resulting organization, which initially adopted the name Banque de la Réunion et Société Bourbonnaise de Crédit Réunies. The shorter Banque de la Réunion name was restored several years later. By 1994, the institution had 360 employees, 16 branches, and a consolidated balance sheet of 4.9 billion French francs. It was described as Réunion's second-largest bank, with a 17 percent market share. Ownership moved into the Caisse d'Épargne group in 1998, when CEPAC acquired 52.2 percent of the bank. In 2002, Banque de la Réunion joined Financière Océor, which consolidated the overseas banking activities of the Caisse d'Épargne group. Its geographic network included Réunion and later Mayotte; in 2005 it reportedly operated 20 branches on Réunion and three in Mayotte. Financial difficulties led to the restructuring of Financière Océor in 2009–2010. Banque de la Réunion consequently became a majority-owned subsidiary of BPCE IOM, an overseas banking entity of Groupe BPCE. In 2015, BPCE IOM acquired the remaining shares and then transferred the bank to CEPAC. The Banque de la Réunion name was phased out in November 2016, ending the brand's independent commercial identity.
- 2016
Brand phased out
[1]The Banque de la Réunion brand was discontinued in November.
- 2015
Full ownership and transfer to CEPAC
[1]BPCE IOM acquired the remaining shares and later transferred the bank to CEPAC.
- 2010
Becomes a BPCE IOM subsidiary
[1]After the restructuring of Financière Océor, the bank became majority-owned by BPCE IOM.
- 2005
Network includes Réunion and Mayotte
[1]The bank was reported to operate 20 branches in Réunion and three in Mayotte.
- 2002
Integration into Financière Océor
[1]Banque de la Réunion became part of the Caisse d'Épargne group's overseas banking structure.
- 1998
CEPAC takes majority control
[1]CEPAC acquired 52.2 percent of the bank's equity.
- 1994
Regional scale documented
[1]The bank had 360 employees and 16 branches, and was reported as the island's second-largest bank by market share.
- 1955
Merger with Société Bourbonnaise de Crédit
[1]The bank merged with a local banking peer, creating a combined institution in which Crédit Lyonnais initially held half the capital.
- 1945
CFA franc introduced on Réunion
[1]The CFA franc became the island's currency, with issuance handled by the Caisse Centrale rather than Banque de la Réunion.
- 1944
End of the bank-of-issue role
[1]The Caisse Centrale de la France d'Outre-Mer assumed monetary authority for Réunion on 1 July.
Products and positioning
A regional banking institution serving Réunion and, for part of its history, Mayotte. Its original distinguishing feature was its dual status as a commercial bank and issuer of local currency; after 1944 it operated principally as a commercial bank and later as an overseas banking subsidiary within the Caisse d'Épargne and Groupe BPCE networks.
Banking · 1853
Commercial banking
Commercial banking was the institution's enduring core activity. Although it began with a monetary issuance privilege, that role ended in the 1940s. The bank then continued as a conventional regional bank serving customers in Réunion and, during its later expansion, Mayotte. Available historical material identifies lending and discount banking as central to its original mandate but does not provide a detailed product catalogue.
Monetary services · 1853
Banknote issuance
Banque de la Réunion was initially authorized to issue bearer notes payable on demand at its headquarters and accepted as legal tender across Réunion. This was a historical monetary function rather than a modern retail product. The role ended in 1944 when monetary authority was transferred to the Caisse Centrale de la France d'Outre-Mer, followed by the introduction of the CFA franc in 1945.
Brand decisions
2016
Retire the Banque de la Réunion brandStrategyBackground
Following ownership consolidation within the BPCE and CEPAC structure, the separate regional brand was no longer maintained.
Action taken
The Banque de la Réunion name was phased out in November 2016.
Aftermath
The standalone brand ceased to operate as a distinct commercial identity.
2015
Transfer from BPCE IOM to CEPACM&ABackground
BPCE IOM had obtained full ownership of Banque de la Réunion by acquiring the shares it did not already hold.
Action taken
Later in 2015, BPCE IOM sold the fully owned bank to CEPAC.
Aftermath
The change placed Banque de la Réunion directly under CEPAC before the historical brand was phased out the following year.
2002
Join Financière OcéorStrategyBackground
The Caisse d'Épargne group was organizing its overseas banking interests within a common structure.
Action taken
Banque de la Réunion was incorporated into Financière Océor.
Aftermath
The bank operated as part of a broader overseas banking portfolio and continued to serve Réunion and Mayotte.
1998
CEPAC acquires majority ownershipM&ABackground
Banque de la Réunion became increasingly connected to the Caisse d'Épargne banking network.
Action taken
CEPAC acquired 52.2 percent of the bank's equity on 4 December 1998.
Aftermath
The transaction established CEPAC as the bank's controlling shareholder and preceded its integration into the Caisse d'Épargne group's overseas banking activities.
1955
Merge with Société Bourbonnaise de CréditM&ABackground
The bank consolidated with a local banking competitor in Réunion.
Action taken
Banque de la Réunion merged with Société Bourbonnaise de Crédit; Crédit Lyonnais took a 50 percent stake in the combined institution.
Aftermath
The combined organization temporarily used a longer name before reverting to Banque de la Réunion several years later.
1944
Continue as a commercial bank after loss of issuance privilegeStrategyBackground
The Caisse Centrale de la France d'Outre-Mer became the monetary authority for Réunion during the Second World War, removing Banque de la Réunion's bank-of-issue function.
Action taken
The institution remained in operation as a commercial bank rather than being dissolved.
Aftermath
Its subsequent history centered on regional commercial banking, ownership changes, and branch expansion rather than currency issuance.
Sources1 sources
Cite this profile: Cite the canonical profile. /brand-wiki/banque-de-la-réunion · Editorial policy · How profiles are compiled