Beware the Brits. (weak French banks fear takeover by British banks)(Industry Overview)

Banker, The, January, 1997 by Quillacq, Leslie de

French officials fear that the country's weak banking sector can easily be taken over by the stronger British banks. Since the mid-1980s, French banks have been consistently lagging behind American and British institutions in terms of profitability. In 1995, the earnings of the entire French banking sector were equivalent to the earnings of just one British bank, Barclays. Legislators are calling for a reform of the banking industry before it is swallowed up by the British.

French banks fear a raid by Britain unless something is done to clean up the sick sector.

The French banking sector is sick. The situation is perceived as so extreme that knowledgeable observers are beginning to fear the whole domain may eventually be gobbled up by the dreaded Anglo-Saxons,...

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