There are certain niche areas where it does no good to challenge the French on their own turf. Add corporate lending to the Gallic claim of superiority in cuisine and wine. French banks have maintained a stranglehold at the top of the syndicated loan league tables since the credit crisis.

Having dominated their own market through deep and established client relationships, they have also grabbed market share from other institutions, most notably in the UK, where the banks have restricted lending and are strategically focused elsewhere.