A. No; the Bank of France does more rediscounting than discounting, and the Bank of France also has more conservative rules than the other banks. We may lend under the Bank of France rate, so our clients have an interest in keeping their accounts with us.
Q. You do not consider the Bank of France as an active competitor?
A. No; competition is greater with the Crédit Lyonnais and with the other private banks than with the Bank of France.
Q. You do considerable rediscounting of bills, I take it?
A. Yes.
Q. At a lower rate than the Bank of France?
A. Frequently.
Q. Is the development of branches a matter of recent times?
A. Yes; we began the system of establishing branches about twenty years ago.
Q. How many employés have you?