Crédit à l’Industrie, Belgium’s ‘Little Blue Factory’ financier

1919-1999

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  • Banks & Financial Institutions
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Belgian corporate lending specialist Société Nationale de Crédit à l’Industrie, whose name was later shortened to Crédit à l’Industrie, gradually expanded its activities so as to offer a comprehensive range of banking products.

Established in 1919, the Société Nationale de Crédit à l’Industrie (SNCI) started life as a State-owned not-for-profit institution providing medium- and long-term loans to businesses in Belgium. It originally specialised in the shipping industry, then after the Second World War helped to disburse loans to Belgian coalmining companies under the Marshall Plan.

 

•  Support from ASLK-CGER

In 1961, SNCI began to broaden its field of activities and grew in spectacular fashion. In 1966, it opened its first proper bank branch. Two years later in 1968, an agreement with the Caisse Générale d’Epargne et de Retraite/Algemene Spaar- en Lijfrentekas (ASLK-CGER) provided SNCI with a means of rapidly expanding its network.

During this period, SNCI played a central role as an intermediary and administrator for State aid to the textile and steel industries.

In the 1980s, the institution shortened its name to Crédit à l’Industrie, with a logo showing a little blue factory to symbolise its mission of lending to industry.

 

•  Towards full-service banking

When the agreement with ASLK-CGER expired in 1986, Crédit à l’Industrie took steps to roll out its own comprehensive range of services.

In 1994, the institution was granted a full banking certificate and that same year, the government decided to sell the State’s stake in the bank to the ASLK-CGER holding company. In 1997, Crédit à l’Industrie was fully absorbed into ASLK-CGER, which in turn merged in 1999 with Generale Bank to form Fortis Bank, forerunner of today’s BNP Paribas Fortis.

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The personal data collected from the Site are subject to data processing by BNP Paribas to enable access to and use of the functionalities offered by the Site www.histoire.bnpparibas.
Pursuant to the French Data Protection Law No. 78-17 of 6 January 1978, you are entitled to access the data collected by BNP Paribas and to have it amended, updated or deleted, where such information is incorrect, incomplete or outdated. You can exercise this right by contacting: BNP Paribas – APAC TDC Val de Marne, TSA 30233- 94729 FONTENAY SOUS BOIS Cedex.

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Since 1822, history has made us a key player and a witness of transformations taking place in society and economy in Europe and around the world. We invite you to share in our story and explore our archives to learn more about our constantly changing world.
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