PARIS (Reuters) – French banks experienced another choppy session on Wednesday with plunges of around 10% amid concerns about the financial health of Credit Suisse.
On the Paris Stock Exchange, Societe Generale fell by 10.6% and BNP Paribas by 10.3% at 12:25 p.m., their course having been temporarily reserved when the drop reached 8%.
This is the strongest decline in session since February 24, 2022 for Societe Generale and since March 16, 2020 for BNP Paribas.
For its part, Crédit Agricole fell by 6.04%.
The main shareholder of Credit Suisse, Switzerland’s second-biggest bank, said on Wednesday it could not provide further financial assistance as the group tries to recover from a series of scandals.
Bank stocks have already been heckled in recent days by the fall of the American bank SVB, which triggered the onset of panic despite the intervention of the American authorities.
Contacted by Reuters, the French Ministry of Finance did not comment on Wednesday’s sharp drop in bank stocks.
(Written by Blandine Hénault, with Laetitia Volga and Leigh Thomas, edited by Jean-Stéphane Brosse)
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