These banks are looking to hang tough

Clint Eastwood 1960s

Vowing to hang on to a broad array of businesses.

French banks, unlike their European rivals, are vowing to hang on to a broad array of businesses and even grow market share, a strategy backed by long-term investors but penalised by the market.

Reuters reports that for while most European banks are battling sluggish economic growth and super low interest rates by cutting costs and retreating to their "core", French banks have decided the time is right to push the frontiers.

However, their pursuit of a so-called universal banking model has so far not won stock market approval, with shares in France's three biggest banks, BNP Paribas, Societe Generale and Credit Agricole, all trading at a discount to European peers.

To access the complete Reuters article hit the link below:

French banks swim against retreating European tide

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