'National Credit [Company]') was a French government-sponsored bank, created in 1919 on the initiative of senior civil servant Charles Laurent.
It eventually merged in 1996 with Banque Française du Commerce Extérieur (BFCE) to form Natexis, later absorbed into Groupe BPCE.
It financed itself through bond issuance and lotteries, with a government guarantee that was itself backed in principle by the expectation of German war reparations.
[1]: 128 By the mid-1990s, the Crédit National was still a listed company with mostly dispersed ownership, even though insurer AXA held a 9.5-percent stake following a recent transaction.
Upon completion of the transaction in 1996, the merged entity, renamed Natexis, became France's fourth-largest commercial bank by total assets, just behind the so-called "three old ones" (Banque Nationale de Paris, Crédit Lyonnais and Société Générale; French: les trois vieilles) and ahead of Crédit Commercial de France.