News Line

Bercy Takes Credit

February 11, 2010

Certainly, banks and government are struggling to understand. The major banking networks, which held commitment to advance their credit offers 3 to 4% in 2009, feel good students of the European class. Cr?dit Agricole, BNP Paribas, Credit Mutuel, BPCE (Banques Populaires Savings) and Societe Generale, the five networks that had received public subsidies, and will plead their cause with Christine Lagarde. The Minister of Economy receives this Thursday morning to take stock of the granting of credit last year and prospects for 2010.

But now, the state does not appear satisfied. Instead, Nicolas Sarkozy has once again berated the banks. "I will be obliged to review the banks because I am worried about what is happening now," he said Thursday. In particular, the president believes that there is progress in achieving sector credit to SMEs.Hence his decision to broaden the scope of La Banque Postale on this type of clientele. It remains to know under what conditions. Nicolas Sarkozy has raised the critical issue of SOHO (small enterprises) in rural areas. But whatever its scope, it is not enough to give The Post a banking license authorizing it to distribute business credit for this activity begins. Two years after announcing its intention to offer consumer credit, the postal bank ready to start only on that new job. Hence the calmness with which its competitors have welcomed the news.

Increase of 1.8% in 2009

At Societe Generale, outstanding loans rose by 3.1% in 2009. Cr?dit Agricole shows him, a growth of 3.3% on TPE and 3.7% on individuals.While the early years had been difficult, "since December, the production of housing loans found levels pre-crisis," says one bank to the green. BNP Paribas boasts an increase of 3.7% of its loan volumes, while outstanding BPCE have experienced the same progression. In total, loans to the French economy grew by 1.8% last year, when they fell by 1.8% in Germany, 4.2% in Spain and 7.3% in the United Kingdom .

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