• Finextra
• 05 Mar, 2021

The online bank was developed thanks to the acquisition of a majority stake in lender Groupama Banque. Groupama, a French insurer, now owns 22% of the group. Orange controls the remaining 78%. In total Orange Bank has accumulated losses of €643 million in three years. CEO Stéphane Richard told Les Echos that it was looking to find a banking partner with the right expertise and assets to help build up Orange Bank, and said several expressions of interest have been received.
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