French banks in top form

DECRYPTION – The five largest networks improved their profitability in 2021, which was long below some European competitors.

Rain of records for the major French banks. Two years after the start of the health crisis, all recorded the best results in their history in 2021. With nearly 9.5 billion euros in profits, BNP Paribas remains in the lead. It is closely followed by the Crédit Agricole group (9.1 billion euros) and Societe Generale completes the podium (5.6 billion in profits). This is followed by BPCE (Banques Populaires, Caisse d’Epargne, Natixis) and Crédit Mutuel Alliance Fédéral (13 of the 18 Crédit Mutuel federations).

However, these banks have chosen to keep a low profile and not to highlight their unprecedented results. Elsewhere on the Old Continent, the benefits are also accumulating for a number of establishments. Only Credit Suisse, weighed down by scandals, fell into the red (loss of 1.6 billion Swiss francs). “The vintage is generally good for all countries, but the performance of French banks is exceptional”notes Éric Dor, director of studies…

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