A far-right presidency should not affect the banks’ domestic activities but it could raise red flags with respect to France’s commitment to Europe and to globalisation in general – areas in which the large French banks have excelled. If a Le Pen presidency follows an aggressive populist agenda, political hurdles could complicate efforts by the French banks to shrink their physical branch and back-office structures, and could undermine efforts to build Paris as a top financial centre.

Read Sam Theodore’s report here.

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