France non-financial corporation debt: outstanding loans
France non-financial corporation debt: outstanding loans stood at 1,528.28 EUR billion in Q1 2026, according to Banque de France – Webstat (webstat.banque-france.fr). It is one of the indicators in the Corporate and financial sector accounts table (Value · Quarterly), with a complete series running from Q1 1999 to Q1 2026. The complete series with an interactive chart, free to download.
This indicator in the Corporate and financial sector accounts table
| Indicator | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | Q4-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Outstanding debt | 2,268.62 | 2,252.6 | 2,242.75 | 2,206.16 | 2,194.79 | 2,200.77 | 2,191.89 | 2,187.02 | 2,162.17 | 2,169.13 | |
| Loans | 1,528.28 | 1,518.23 | 1,510.64 | 1,488.52 | 1,483.08 | 1,484.05 | 1,479.5 | 1,468.04 | 1,460.03 | 1,462.61 | |
| Debt securities at nominal value | 740.34 | 734.37 | 732.11 | 717.65 | 711.7 | 716.72 | 712.4 | 718.98 | 702.14 | 706.53 |
Understanding france non-financial corporation debt: outstanding loans
The cumulative stock of borrowed funds owed by non-financial corporations specifically to financial intermediaries in the form of loans is tallied in this series. This focused measure isolates bilateral bank borrowing and institutional credit from market-based debt securities and trade payables. Excluded from this loan stock are corporate bonds, commercial paper, and equity obligations.
Evaluating this outstanding loan stock requires consideration of prevailing lending standards and interest rate cycles, which influence how long businesses maintain bank debt. Seasonality is minimal in stock figures compared to flow data, but structural breaks can occur due to bank portfolio reclassifications. Analysts comparing this series to total debt outstanding can determine the relative reliance of enterprises on bank financing versus capital markets. Early estimates of loan stocks are regularly revised as banks refine their regulatory submissions.
Frequently asked questions
- Are debt securities like bonds included in this loan total?
- No, bonds and commercial paper are tracked separately from bilateral bank loans in the accounts.
- Does this series measure gross loan liabilities or net repayments?
- It measures the outstanding gross stock of loan liabilities currently residing on corporate balance sheets.
- Why might the outstanding loan stock experience a sudden structural break?
- Reclassification of institutional lenders or changes in statistical reporting boundaries can alter the series.