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Radio France Internationale
Radio France Internationale
National
RFI

French banks accused of continuing to finance tobacco industry

Tobacco Act Société Générale Crédit Agricole
French banks granted more than 5 billion dollars in loans to world's largest tobacco companies since 2018. © Reuters/Jonathan Alcorn/Files

Several French banks, including Société Générale, have financed the tobacco industry to the tune of over $5 billion since 2018, an anti-smoking group claimed in research published Wednesday.

"If the tobacco industry has succeeded in maintaining its deadly trade, it is, in part, thanks to the resources provided by banking institutions and investment funds," Alliance Contre le Tabac (ACT) director Marion Catellin, said in a statement about the report.

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