French banks add €1.4 billion to Single Resolution Fund

The three largest French banks sharply increased their contributions to the Single Resolution Fund (SRF) in the first quarter of the year, far outstripping additions made by their European peers.

BNP Paribas, Credit Agricole and Societe Generale’s contributions to the SRF jumped by 25% on average compared to a year ago, totalling almost €1.4 billion ($1.65 billion).

Credit Agricole posted the largest increase, adding €359 million, compared with €274 million a year ago – a 31% jump. The