French Bank Crisis
French bank Societe Generale has seen net profits crash by 84% for the third quarter, hit by the credit crisis.
Net profits in the 3 months to the end of September fell to €183m ($235m; £145m) from €1.12bn in the same period last year.
The bank has been hit hard by the chaos in the finance sector with the collapse of Lehman Brothers alone prompting a €447m write down.
Despite the results the bank said it was positioned to deal with the downturn.
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French Bank Account
Do you really need a French bank account , especially if you’re only buying a holiday home and not moving to France permanently?
Well, it is certainly preferable to have a bank account in France, especially for those looking to move abroad and work, in order to have their salary paid. You also need a French account if you have a French loan or mortgage so that the repayments can be made to your provider.
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