The FBF management report sums up the 2011 banking year and updates the main figures.
2011 was steeped in a global investor crisis of confidence in the euro zone due to the excessive debt of certain States, which grew worse over the summer with the struggle to find a solution for Greece. At its December 2011 meeting, the European Council agreed on measures to implement strict fiscal discipline and improve euro zone governance. Together with the ECB’s subsequent measures, the door was opened to establishing sustainable solutions and restoring confidence. The financing of all euro zone players – governments, banks and companies alike – depends on it.
For their part, French banks mobilised their efforts in this challenging environment to continue financing the French economy, despite having fallen victim to the sovereign debt crisis along with the rest of Europe’s banks. According to the Banque de France, outstanding loans to the French economy rose by 5.3% in 2011, exceeding the average increase for the euro zone and significantly outperforming France’s projected economic growth of less than 1%.
Through their networks, banks will continue lending to individuals and companies (particularly SMEs/VSEs) in 2012; this is their top priority and the best contribution they can make to stimulating growth and getting out of this crisis.
Management report FBF 2011