Our History
CIC’s heritage dates back to 1859, making it the oldest deposit bank in France. Our history in London began in 1895. For over 125 years, we have been providing our UK customers with innovative, trusted and sustainable financing solutions.
1859
FOUNDATION
Société Générale de Crédit Industriel et Commercial was created on May 7 by the imperial decree of Napoleon III.
1864
INVESTMENTS
CIC is making substantial capital investments in newly created banks such as the Société Lyonnaise de Banque.
1895
CIC LONDON
Inauguration of CIC's first foreign branch in London.
1896
FOUNDATION OF NEW BANKS
CIC participated in the creation of several banks around the world: Bank of Romania, Madrid, New Caledonia, Reunion and Madagascar.
1918-1929
EQUITY STAKES IN REGIONAL BANKS
Between 1918 and 1929, CIC takes equity stakes in a number of regional banks: Banque Scalbert-Dupont, Crédit Havrais, Crédit de l’Ouest, etc. In 1929, Union des Banques Régionales pour le Crédit Industriel (UBR) is created, unifying 18 regional and local banks. CIC founds Société de Secours Mutuels in the same year.
1948-1970
EXPANSION
CIC and its regional banks undergo a period of expansion. In 1968, the Suez-Union des Mines group takes control of CIC.
1982-1984
NATIONALISATION
CIC is nationalised. A new holding company called Groupe des Assurances Nationales (G.A.N.) is created.
1996-1997
PRIVATISATION
The French government decides to privatise the CIC group.
1998
CRÉDIT MUTUEL
CIC is acquired by Crédit Mutuel Alliance Fédérale to form one of the largest mutual bank groups in the world.
2008-2010
TARGOBANK AND CIC IBERBANCO
Crédit Mutuel Alliance Fédérale acquires the consumer banking operations of Citibank in Germany in 2008 and rebrands it Targobank in 2010. In April 2009, Crédit Mutuel Alliance Fédérale acquires the Spanish Bank, Banco Popular’s network in France and renames it CIC Iberbanco.
2016
ACQUISITION OF GE CAPITAL FACTORING
Crédit Mutuel Alliance Fédérale completes the acquisition of General Electric’s leasing and factoring business in France and Germany, forming market leaders in both countries
2020
ANNIVERSARY
CIC London celebrates 125 years in the UK market