Do you know that all nobanks and other online banks (or almost all) belong to large banking groups? Did you know that the very specific Crdit Coopratif brand belongs to one of these large groups? Or who owns national brands such as CIC or LCL? Take the quiz!
MoneyVox Quiz
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Respond to This quiz questions to test your personal finance knowledge.
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In France, five major banking groups share the vast majority of the banking pie. Five banks categorized as systemic (too big to fail, too big to let them go bankrupt) at the global level, as of January 1, 2023: BNP Paribas, Socit Gnrale, Crédit Agricole and BPCE (Banque Populaire – Caisse d’Epargne). In France, it is almost enough to add a sixth entity to this list for the banking market to be almost complete: La Banque Postale, part of the La Poste group.
Between them, these six large banks (or rather banking groups) represent more than 80% of the sector’s balance sheet each year, according to data from the Prudential Control and Resolution Authority (ACPR), the banking and insurance policeman. And all the others? Subsidiaries of foreign banks operating in France, mainly.
But then, who belong to nationwide networks such as CIC, LCL or even Crdit Coopratif? Respectively to Crdit Mutuel Alliance Fdrale, Crdit Agricole and BPCE. And who own online banks? The Boursorama, Fortuneo or even BforBank? To these major French groups: respectively Socit Gnrale, Crdit Mutuel Arka and Crdit Agricole.
Who is behind online banks?