Corporate Financing - August 2026 (Fédération Bancaire Française)

Summary

• Total business financing in France reached €2,185 billion at end-May 2026, growing by +4.3% year-on-year through €1,430 billion in bank credit and €755 billion in market financing.p.26
• Outstanding bank credit to non-financial companies in France stood at €1,434 billion at end-June 2026, reflecting a 59% increase over 10 years.p.9
• Outstanding loans to SMEs and microenterprises reached €550 billion at end-June 2026, up +2.5% over one year.p.11
• For TPE/PME/ETI, over €121 billion of State-Guaranteed Loans (PGE) were repaid by end-May 2026, representing 94% of total amounts granted.p.18

Key insights

1. Annual growth of corporate credits in France reached +3.8% in June 2026, continuing to outperform the euro area average of +2.1%.p.9
2. Profit margins in 2025 rose to 34% for microenterprises (TPE), 25% for SMEs, and 27% for mid-caps (ETI).p.3
3. Corporate balance sheets strengthened in 2025 through equity increases of +7% for TPE, +4% for SMEs, and +2% for ETIs.p.5
4. Monthly production of new credits to companies reached €32.4 billion in June 2026, representing €1.1 billion mobilized daily.p.10
5. State-guaranteed loan calls on guarantee totaled €6.84 billion, representing 4.7% of total PGE loans deployed.p.18
6. Final transposition of Basel 3 is projected by the EBA to increase bank capital requirements by an average of +15% for large international banks.p.27