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Economy and Banking Sector of France

Financial System Development

Financial System
85.9, 14th out of 144 countries
Banks' Soundness
76.3, 39th out of 144 countries

According to World Economic Forum's Global Competitiveness Report 2019, financial market development in France is scored 85.9 out of maximum 100.0 and ranked 14th out of 144 analysed economies.

Financial Market Development in France.

Chart 1. Financial Market Development in France. Source: WEF.

Soundness of banks is scored 5.6 bringing France into the 39th place.

Soundness of Banks in France.

Chart 2. Soundness of Banks in France. Source: WEF.

Further Information

Banking Focus

Banks in France are mainly focused on the following areas:

  • retail banking
  • corporate banking
  • leasing solutions

Banking Supervision

Banque de France

Banking Sector Structure

Number of Banks
Consolidated Assets (2019)
7,643.96 bln EUR  (+5.82%)
Recent Changes (2018)
new banks: 3, closed banks: 17

Currently there are 530 credit institutions operating in France.

In 2019 consolidated banking assets in France were 7,643.96 bln EUR. The consolidated banking assets' evolution is shown at Chart 3 below.

Consolidated banking assets in France.

Chart 3. Consolidated banking assets in France.

Recent structural changes (2013 - 2018) of the banking sector of France are summarised in Table 1.

Number of Opened Banks886333
Number of Closed Banks111921152017

Table 1. Recent structural changes in the banking sector of France.

The list of the most recently opened banks in France is provided in Table 2.

NameStart Date
Adyen NVNovember 2018
MMB SCFOctober 2018
Ma French BankMay 2018
Banque Martin - MaurelOctober 2017
Habibsons bank LtdMay 2017
Berlin Hyp AGApril 2016
Santander Consumer BanqueJanuary 2016
Crédit Immobilier de France DéveloppementAugust 2015

Table 2. The most recently opened banks in France.

All the credit institutions operating in France can be classified into several categories. Table 3 summarises the number of banks in each category.

CategoryNumber of Banks
Branches of foreign banks94
Central banks1
Municipal credit banks18
Mutual banks78
Specialized credit institutions185

Table 3. Number of banks by category in France.

There are 93 branches of foreign banks from 24 different countries in France. Table 4 shows 10 countries having the biggest number of branches in France.

Country of OriginNumber of Branches
DE Germany20
GB United Kingdom13
LU Luxembourg9
NL Netherlands6
IT Italy6
ES Spain6
IE Ireland6
IR Iran, Islamic Republic of4
BE Belgium3
SE Sweden2

Table 4. Number of branches of foreign banks in France grouped by country of origin.

Deposit Guarantee Scheme

Maximum Protected Amount
100,000 EUR

Deposit guarantee scheme is a financial stability mechanism implemented in many countries to protect bank depositors against the loss of their deposits in the case when a bank is unable to meet its obligations to depositors by compensating certain deposits held by depositors of the bank. This compensation is paid out from the contributions which banks have made into a deposit guarantee fund.

From a depositor's point of view it is important to know:

  • if the depositor is eligible within the terms of the deposit guarantee scheme;
  • if the depositor's bank is a participant in the deposit guarantee scheme;
  • if the depositor's type of deposit is covered by the deposit guarantee scheme.

All these details about deposit guarantee scheme in France are summarised in Table 5.

Maximum Protected Amount
100,000 EUR
Temporary High Balance
500,000 EUR
Scheme Participants
all credit institutions operating in France
branches of non-EEA banks
branches of French banks abroad
Scheme Exemptions
branches of EEA-banks (covered by their home countries)
Eligible Depositors
natural persons
companies of any size, regardless of their status
associations and other professional groups
non-trading partnerships
foundations and groups of any kind
public institutions
local governments
Non-Eligible Depositors
central governments and administrations
supranational institutions
all companies and organisations in the financial sector
insurance companies
Covered Accounts
all deposit accounts, including
  • current accounts
  • demand accounts
  • passbook accounts
  • term accounts
  • home savings accounts
  • home savings schemes
  • etc.
Non-Covered Accounts
items entrusted to your bank's safety deposit department
anonymous deposit or instrument with a holder who cannot be identified
cash recorded on an electronic medium
deposit of equity
nominative savings certificates
Covered Currencies
all currencies, namely
  • EUR (Euro)
  • foreign currencies
Paid In Currency

Table 5. Deposit guarantee scheme in France.

EEA stands for European Economic Area and consists of all EU member states plus Liechtenstein, Norway and Iceland.

Further Information

Country Ceiling for Deposits

Moody's country ceilings for deposits specify the highest rating that can be assigned to local- or foreign- currency denominated deposit obligations of a bank or other deposit taking institution domiciled within that country.

Local Currency (Euro)
Aaa (prime)
Foreign Currency
Aaa (prime)

Local currency (Euro) deposit ceiling for France is set to Aaa (prime), foreign currency deposit ceiling is Aaa (prime).

Deposit Rates

Average Deposit Rate (Mar 2020, EUR)
0.76 %  (Feb 2020: 0.79 %)
In March 2020, an agreed annualised deposit rate in local currency (Euro) of new contracts with agreed maturity up to 1 year between credit institutions and households was 0.76% which was above the Euro Area average (0.31%).
Deposit Rates in France.

Chart 4. Deposit Rates in France. Source: ECB.

Further Information