The battle for online banking dominance is intensifying in France after Revolut obtained its French banking license last August, enabling it to offer credit and savings services in direct competition with traditional banks. Société Générale aims to grow BoursoBank to over 14 million clients by end-2029, up from 9.1 million in June, with a target of 115 billion euros in assets under management and profit exceeding 300 million euros in 2026. Revolut already has approximately 8 million clients in France and plans to invest over one billion euros in Western Europe to accelerate its development. Meanwhile, BNP Paribas intends to grow Hello bank!, which has over one million clients, to two million by 2030, while Crédit Agricole’s BforBank has surpassed 500,000 clients.
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