SGEI: Commission approves prolongation of compensation to French La Banque Postale to facilitate access to banking services
The measure extends the existing scheme by three years, from 2027 to 2029, and provides EUR 682 million in compensation for the additional period.
The prolonged measure is a service of general economic interest (SGEI) entrusted to La Banque Postale which aims at ensuring banking accessibility throughout the country. The mission promotes financial inclusion by guaranteeing universal, free-of-charge and unconditional access to basic banking services through the Livret A, a State-regulated savings account. France has updated the compensation mechanism to reflect evolving market conditions and to ensure that it remains adapted to current circumstances.
The Commission analysed the measure under EU State aid rules, in particular Article 106(2) of the TFEU and the 2012 SGEI Framework. It found that the measure continues to comply with all conditions, including that the compensation is limited to the net cost of providing the public service, so it excludes any risk of overcompensation.
The non-confidential version of the decision will be made available under case number SA.121101 in the State aid register on the Commission’s competition website once any confidentiality issues have been resolved.
For more information, see the Commission’s PR.