BANKING, FINANCE AND INSURANCE

Banking remains dynamic but is running out of steam

Outstanding financial assets held by economic agents (residents and non-residents) in locally established credit institutions reached XPF 780 billion at the end of 2019, up 1.8% in 2019 compared to -1.4% in 2018. Thus, after the contraction recorded in 2018 (-10.5 billion XPF), the net savings collection gained 13.6 billion XPF.

IEOM

Dynamism of loans, despite signs of subsidence

At the end of December 2019, in a context of historically low interest rates, the total gross outstanding amount of credits granted to the Caledonian economy increased by 3.6% (or +44.0 billion XPF) and reached a record level of 1 259.6 billion XPF. Local credit institutions contribute two-thirds of this. The growth in their outstanding loans is accelerating (+ 4.5% after + 3.8% in 2018).

Major actors in

BANKING & FINANCE

There are 4 banking institutions in New Caledonia and one recently implemented bank for entrepreneurs.

BANKING INSTITUTIONS

Banque Calédonienne d'Investissement (BCI)

Public Bank

The Caledonian Investment Bank is the leading banking network in New Caledonia with no less than 32 agencies and 103 ATMs across the country, BCI has made proximity to Caledonians a priority.

It is the only bank to be present on the whole territory and in particular on the Loyalty Islands and the Isle of Pines.

VISIT BCI

Banque de Nouvelle-Calédonie (BNC)

Public Bank

The Bank of New Caledonia is positioned on all markets: individuals, professionals and businesses, liberal professions, real estate professionals, local authorities, associations.

It is the second largest bank on the market with 17 agencies.

VISIT BNC

BNP Paribas NC

BNP Paribas New Caledonia, is a wholly-owned subsidiary of the BNP Paribas group, that has been operating in Caledonia since 1969.

Its banking operations are geared towards business customers, individuals, professionals and institutional investors. They have 10 agencies.

VISIT BNP PARIBAS NC

Société Générale Calédonienne de Banque (SGCB)

The SGCB is a wholly owned-subsidiary of the Société Géneral Group, it has been operating in NC since 1971. Its banking operations are geared towards business customers, individuals, professionals and institutional investors.

They have 20 agencies and 40 ATMs across the country.

VISIT SGCB

BANK FOR ENTREPRENEURS

BPI France

BPI France is a french public investment bank who launched its services in New Caledonia in September 2019. It finances projects of Caledonian entrepreneurs, it intervenes in addition to the existing banking offer and acts as a partner to local banks.

Innovation benefits from the whole range of bpifrance products such as grants, repayable advances or loans. In terms of exports BPI France offers the "Prospecting Insurance" loan intended to help companies develop their activities into foreign markets.

VISIT BPI FRANCE

PUBLIC INVESTMENT FIRMS

Nord Avenir

Nord Avenir is a public limited company of local mixed economy which promotes economic development in the Northern Province.

VISIT NORD AVENIR

Société de Financement et de Promotion de la Province Sud (Promosud )

Funding and Promotion Company of the South Province is a public limited company of local mixed economy which promotes economic development in the Southern Province.

VISIT PROMOSUD

Société de Développement et d'Investissement des Îles (Sodil)

The Islands Development and Investment Company is a public limited company of local mixed economy which promotes economic development in the “Province des îles” or “Iles Loyauté”.

VISIT SODIL