0822 GMT - The banking and insurance sector is proving resilient, France's central bank says in a report. The country is grappling with uncertainty over its 2025 budget and the potential for an increasing deficit, which would pose risks to banks' profitability. French banks' credit risk remains under control despite a slight increase and lender's financing conditions on the markets are stable, it says. "The exposure of the six major French banking groups to French government debt is limited, representing 3.3% of their total assets and 71% of their Common Equity Tier 1 (CET1) capital," it notes. Insurers also have solid balance sheets as they hold high-quality assets and liquidity and have limited commercial real estate exposure, it adds. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
December 20, 2024 03:22 ET (08:22 GMT)
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