At 31 December 2013, the five major banking groups covered in this study [BNP Paribas (BNPP), Groupe BPCE (GBPCE), Groupe Crédit Agricole (GCA), Groupe Crédit Mutuel (GCM) and Société Générale (SG)] accounted for just over 85% of the aggregate balance sheet of the French banking sector which comprises 600 individual credit institutions.
With total banking assets equivalent to 280% of French gross domestic product (GDP), these five groups have developed a presence extending far beyond their national borders: all rank as major international players, classified as “significant banks” by the European Union, and therefore fall under the ECB’s direct supervision as of 4 November 2014; moreover, on a global level, the four largest groups (BNPP, GBPCE, GCA and SG) qualify as global systemically important banks (G-SIBs).