The financial services sector accounts for 4.9% of France's GDP, according to Eurostat—a fairly typical share by EU standards, but significantly smaller than in countries with large, global financial centres like the UK (where the figure is 7.9%). About 800,000 people (3.1% of total employment) work in financial services; another 570,000 are employed in related professional services.
France is home to global companies like BNP Paribas (banking) and AXA (insurance). However, such well-known firms are not dominant in all of the country's domestic financial markets, as they face strong competition from private, mutual and state-owned companies.
Operating conditions will be challenging in the near term, given the continuing weakness of the economy and the strengthening of regional and global regulatory requirements. The Economist Intelligence Unit's estimate of real GDP growth in 2014 is just 04%, unchanged from 2013. Subsequent indicators have not suggested that recovery is imminent. We expect real GDP growth of 0.9% in 2015, a figure that is boosted modestly by the impact on real earnings of collapsing oil prices.

Financial services report 2

Banks 3

Insurers 7

Asset managers 8

Financial markets and instruments 10

Financial regulation 13

Monetary and currency policy 15

Financial at a glance 17

Fundamental indicators 18

Key contacts 19

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