France Banking & Financial Services Report Q1 2018
BMI View: France's banking and financial services industry is among the most developed globally and the second largest in Europe, after the UK. In gross value added terms, France ranks number three behind the UK and Germany. Although smaller in absolute terms, it suggests that France's financial services industry is less saturated and relies less on financial services for economic growth compared to other regional peers, which also brings considerable advantages. Furthermore, as the UK prepares to exit the EU by 2019, France is likely to benefit from UK-based banks partly relocating to Paris, by virtue of the country's membership in the EU. Planned reforms to the banking and financial services sector under the Macron administration will also support sector growth in the medium term.