Why Paris is becoming Europe's new finance capital

Paris is now emerging as the banking centre of gravity in the European Union (EU). Figures from the Prudential Supervision and Resolution Authority (ACPR) leave little room for doubt: in 2025, applications for authorisation or expansion to become a credit institution climbed to 21 cases. That is five times the average recorded in the previous year. The French capital therefore accounts for roughly half of all authorisation procedures across the euro area.

“This attractiveness of the Paris financial centre can be seen among traditional post-Brexit players [...] as well as among innovative businesses that select Paris over other European financial centres,” Emmanuelle Assouan, the ACPR's new secretary-general, told the daily newspaper Les Échos.

Paris banking licences attract fintech leaders

The applicants include major fintech names such as Revolut, for which securing a full French licence has become a strategic priority in managing its continental European operations. The stablecoin giant Circle, French unicorn Qonto and instant-credit specialist Younited are pursuing the same path.

Long-established institutions are changing course too. British bank Barclays, for example, has confirmed the relocation of its European headquarters to the City of Light.

From Vilnius to Paris

For years, however, Lithuania was the preferred gateway for fintech businesses, thanks to exceptionally swift processes and direct access to the SEPA payments network. Revolut and other giants expanded across the continent under a Baltic licence. Today, though, the sector is reaching maturity: to move from being a payments app to becoming customers' main bank, a move through Paris is becoming unavoidable.

The approval of the ACPR and the Banque de France provides a level of credibility that smaller eastern European states can no longer offer to customers who are increasingly concerned about the security of their deposits. Establishing a lasting presence in France is also the only way for these neobanks to offer regulated savings products, such as the highly prized Livret A account, which are essential if they are to compete with established banks on their own ground.

Political stability remains crucial

This renewed influence is nevertheless vulnerable to political turbulence. With the 2027 presidential election approaching, uncertainty over changes to taxation and structural reforms could deter some investors. JPMorgan Chase has already issued an early note of caution by recently readjusting its Paris headcount towards London.

Although this remains a marginal movement for now, it is a reminder that Paris's position rests on a delicate balance in which stability is essential.