Menu Sectors
Project Finance Copying and distributing are prohibited without permission of the publisher

Les Miserables

22 February 2012

France’s largest banks are battling harsh market conditions by shedding jobs and reducing their balance sheets. Does this spell an end to their leadership in project lending or is it a chance for a strategic repositioning? By Antony Collins.

It has been a troublesome year for the French financial system. Standard & Poor’s decision to strip France of its cherished AAA credit rating at the start of 2012 was perhaps more symbolic than substantial, but it capped a problematic period for the country that involved dealing with the eurozone crisis, a fresh set of capital adequacy reforms in banking and a lethargic interbank lending market. The country’s largest commercial banks, which navigated the credit crunch relatively safely, have been the biggest losers. The most obvious impact of this weakness has been in jobs, with the big three French banks – Société Générale (SG), BNP Paribas and Crédit Agricole – cutting 1,800 corporate and investment banking positions (around 10% of staff in these divisions) between them in the last two months. But while staffing levels at such institutions are always volatile, the more seismic shift has been with the disposal...


Latest Deals Database updates

Kuala-Lumpur-Singapore High-Speed Rail PPP Project Update date 22/04/2014
Sector Transport > High-speed rail
Country Asia > Malaysia
Total Debt Loan Amount
Status Financial advisor mandated
Perth Stadium PPP project Update date 22/04/2014
Sector Leisure/Stadia > Stadia
Country Asia Pacific > Australia
Total Debt Loan Amount
Status Preferred bidder
IJmond Sea Lock PPP Update date 22/04/2014
Sector Transport > Port
Country Europe - EU > Netherlands
Total Debt Loan Amount
Status Tender launched
Change font size: Switch to default font size Switch to medium font size Switch to large font size