Bank of France Posts Strong Recovery with €8.1 Billion Net Profit in 2025

The Bank of France announced a spectacular financial turnaround in 2025, registering a net profit of €8.1 billion that effectively erased its significant loss of €7.7 billion in 2024. This recovery reflects a strategic management of its assets in a challenging geopolitical and economic environment.

Governor François Villeroy de Galhau, who has headed the institution since November 2015 and plans to step down in June 2025, attributed the positive results to key operational decisions. Notably, the Bank executed a lucrative gold operation: it sold 129 tonnes of gold originally from the U.S. Federal Reserve and repurchased it in Europe. This maneuver generated a substantial accounting gain of €11 billion due to price differentials.

Complementing this was the impact of the European Central Bank's reduction of key interest rates, which allowed the Bank of France to boost its monetary income by €10.2 billion. The average remuneration rate on commercial bank deposits dropped from 3.7% in 2024 to 2.3% in 2025, easing financial pressures.

Over the past eleven years, the Bank has contributed €37 billion to the French state without imposing costs on taxpayers—even during loss years. The Bank’s net operating expenses have decreased by 4% annually since 2015, aided by a staff reduction and operational efficiencies, with around 1,800 employees currently.

Governor Villeroy de Galhau also highlighted the institution’s robust balance sheet, reporting a net position of €283 billion, which positions the Bank to withstand future monetary shocks confidently.

As the Bank of France closes a chapter under Villeroy de Galhau's leadership, it not only marks a recovery from past losses but also signals financial stability and strategic agility in uncertain times.