French banks woo young market.

(From Les Echos)

French banks are aiming to woo young customers in order to build up future market share. At Societe Generale, for example, 40 per cent of accounts opened are reported to involve customers aged below 25. A source from rival Credit Agricole has said that customers often open their first current accounts at the age of around 18.

Owing to the cost-consciousness of young customers, there has been growth in the supply of low-cost banking products on the market, such …