Retail Banking in Franc.-(COVID-19) Impact Snapshot

Retail Banking in Franc.-(COVID-19) Impact Snapshot

Summary

The Coronavirus (SARS-CoV-2) outbreak, dubbed COVID-19, is first and foremost a human tragedy, affecting millions of people globally. The contagious Coronavirus, which broke out at the close of 2019, has led to a medical emergency across the world, with the World Health Organization officially declaring the novel Coronavirus a pandemic on March 11, 2020.

Fears surrounding the impact of COVID-19 have already significantly impacted the global economy, with key markets across the globe losing 20-50% of their value year-to-date. Many economists and institutions have cut their forecasts, with consensus global GDP growth currently at 2.6% for 2020 and many experts predicting the potential onset of recessionary environments.

A similar trend was seen in France, as economic growth in the country registered a dip in the first quarter of 2020. The government started to ease lockdown restrictions from May 11, 2020, allowing non-essential businesses to operate. A gradual economic recovery is now expected, which will have a positive impact on the banking industry.

This report focuses on the impact of the Coronavirus outbreak on the economy and the retail banking industry in France. Based on our proprietary datasets, the snap shot provides a detailed comparison between pre-COVID-19 forecasts and revised forecasts of total mortgage, consumer, credit card loan balances as well as deposit balances in terms of value and growth rates. It also offers information on measures taken by the government to combat Coronavirus.

Scope

  • Given the expected scale and length of the disruption to the French economy, it is no surprise that key banking indicators will suffer. There has been a fall in the growth of new loans due to the uncertainty and vulnerability consumers and small businesses face. Conversely, households have resorted to saving instruments whose balances surged the highest in April, increasing up to €26.6bn ($29.9bn), as reported by Banque de France.
  • To reduce delinquency, the government issued a Moratorium Ordinance for loans maturing between March 12 and June 24, 2020, enabling borrowers to postpone or avoid the repayment of loans during this period.
Reasons to Buy
  • Make strategic decisions using top-level revised forecast data on the French retail lending and deposit industry.
  • Understand the key market trends, challenges, and opportunities in the French retail lending and deposit industry.
  • Receive a comprehensive insight into the total consumer loans in France, including mortgages, personal and credit card loans as well as retail deposits balances.


COVID-19 Update
Impact Assessment
Retail Deposits
Total Consumer Loans
Mortgage Loans
Credit Card Loans
Other Consumer Loans
COVID-19 Impact: Job Analysis
Appendix
Supplementary Data
Definitions
Methodology
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