|Financial Market Development|
|4.5 (max 7.0), 33rd out of 138 countries|
|5.6 (max 7.0), 31st out of 138 countries|
According to World Economic Forum's Global Competitiveness Report 2017-2018, financial market development in France is scored 4.5 out of maximum 7.0 and ranked 33rd out of 138 analysed economies, trustworthiness and confidence of financial market is scored 4.7 (40th place).
Chart 1. Financial Market Development in France. Source: WEF.
Soundness of banks is scored 5.6 bringing France into the 31st place.
Chart 2. Soundness of Banks in France. Source: WEF.
|Maximum Protected Amount|
|100 000 EUR|
Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.
From a depositor's point of view it is important to know:
All these details about deposit guarantee scheme in France are summarised in Table 1.
|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, legal entities|
|Covered Accounts||all deposit accounts (current accounts, demand accounts, passbook accounts, term accounts, home savings accounts, home savings schemes, etc.)|
|Covered Currencies||all currencies|
|Maximum Protected Amount||100 000 EUR|
|Paid In Currency||EUR|
Table 1. Deposit guarantee scheme in France.
EEA stands for European Economic Area and consists of all EU member states plus Liechtenstein, Norway and Iceland.
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)|
Local currency (Euro) deposit ceiling for France is set to Aaa (prime), foreign currency deposit ceiling is Aaa (prime).
|Average Deposit Rate (Jan 2018, EUR)|
|1.18 % (Dec 2017: 0.98 %)|
Chart 3. Deposit Rates in France. Source: ECB.
|Number of Banks|
|Consolidated Assets (2016)|
|7 215.96 bln EUR (+3.97%)|
|Recent Changes (2016)|
|new banks: 3, closed banks: 15|
Currently there are 545 credit institutions operating in France.
In 2016 consolidated banking assets in France were 7 215.96 bln EUR. The consolidated banking assets' evolution is shown at Chart 4 below.
Chart 4. Consolidated banking assets in France.
Recent structural changes (2013 - 2016) of the banking sector of France are summarised in Table 2.
|Number of Opened Banks||8||8||6||3|
|Number of Closed Banks||11||21||22||15|
Table 2. Recent structural changes in the banking sector of France.
The list of the most recently opened banks in France is provided in Table 3.
|BANK OF COMMUNICATIONS (LUXEMBOURG) S.A. (new)||November 2016|
|Berlin Hyp AG (new)||April 2016|
|Santander Consumer Banque (new)||January 2016|
|Crédit Immobilier de France Développement (new)||August 2015|
|CHINA CONSTRUCTION BANK (EUROPE) S.A (new)||July 2015|
|Australia and New Zealand banking group limited (new)||April 2015|
|Lombard Odier (Europe) S.A. (new)||March 2015|
|AGENCE FRANCE LOCALE (new)||January 2015|
|Mirabaud et Cie (Europe) SA (new)||January 2015|
|GE Capital bank limited (closed)||November 2014|
Table 3. The most recently opened banks in France.
All the credit institutions operating in France can be classified into several categories. Table 4 summarises the number of banks in each category.
|Category||Number of Banks|
|Branches of foreign banks||88|
|Municipal credit banks||18|
|Specialized credit institutions||85|
There are 87 branches of foreign banks from 24 different countries in France. Table 5 shows 10 countries having the biggest number of branches in France.
|Country of Origin||Number of Branches|
|Iran, Islamic Republic of||4|