Your deposits are safe
Through its regulatory ratios, governance, and climate strategy, Memo Bank continues to demonstrate its exceptional standards as a rock-solid and responsible bank.
A solid bank
Memo Bank is built on strong foundations: authorised as a credit institution by the ECB and regulated by the ACPR, with strong regulatory ratios and a healthy balance sheet.
Memo Bank: An independent and regulated French bank
Memo Bank is an independent bank offering credit, deposit and payment services. Memo Bank is authorised as a credit institution by the ECB and regulated by the ACPR (Banque de France). We are subject to the same regulatory requirements as other French banks.
Successful external audits
Our balance sheet, financial statements and reports are audited annually and approved by KPMG. Additionally, our core banking technology has been successfully audited by Synacktiv and 247cyberlabs. These audits confirm the strengths of our balance sheet and our systems.
Corporate governance
Our supervisory board consits of well-renowned and highly experienced individuals, all from the banking and investment world. Two supervisory board members are from Bpifrance, the French public investment bank. Ronan Le Moal, former director of Arkéa bank, is the board chair.
Outstanding financial perfomances
Between December 2022 and December 2023, our balance sheet grew by 50% and our revenues had experienced an outstanding seven-fold growth. This is testament to the fact that an increasing number of clients are banking with us. Access our annual reports
A strong balance sheet
Your deposits are fully protected with us, as evidenced by our strong Basel III ratios.
A healthy balance sheet
Memo Bank adopts a conversative approach when managing its clients’ deposits, reducing liquidity risk and giving clients complete peace of mind when banking with us. Our clients’ deposits are put directly with central banks or with large and well-renowned French banks. Our clients’ depoits are not invested in risky financial instruments.
65% of our clients’ deposits are kept in central banks. These deposits are accessible at anytime.
35% of our clients’ deposits are put with major French banking institutions.
Regulatory ratios well above Basel III requirements
Liquidity Coverage Ratio and Net Stable Funding Ratio — 2023
Regulators have defined liquidity ratios financial institutions need to comply with to ensure resilience of the entire banking system during standard and stress-tested economic conditions.
- The Liquidity Coverage Ratio (LCR) determines a bank’s ability to absorb an economic shock over a one-month period. Memo Bank’s LCR is 477%.
- The Net Stable Funding Ratio (NSFR) determines a bank’s ability to maintain a stable funding profile in relation to their assets and off-balance sheet activities over a one-year horizon. Memo Bank’s NSFR is 146.5%.
Liquidity Coverage Ratio (LCR)
Net Stable Funding Ratio (NSFR)
Regulatory thresholds
100%
100%
Memo Bank
477%
160%
Common Equity Tier 1 2023
The Common Equity Tier 1 (CET1) ratio evaluates a bank’s ability to absorb losses while continuing to operate without defaulting. This ratio measures the proportion core equity capital , defined as high-quality for a bank, compared to its risk-weighted assets. The CET1 ratio is used to assess a bank’s ability to absorb losses and withstand financial stress. Memo Bank’s CET1 is 50.22%.
Common Equity Tier 1 (CET1)
Regulatory thresholds
11.75%
Memo Bank
50.22%
Average of the six major French banking groups (2023 – see source)
15,46 %
Regulatory ratios 2023 for Memo Bank are provisonal and subject to validation by internal and external parties.
The French deposit guarantee scheme (FGDR)
As per French law, the amounts deposited in your current accounts, savings accounts and savings schemes are covered by the deposit guarantee scheme (FGDR) up to €100,000.
Our climate strategy
Our clients’ deposits are not used to financing fossil fuels.
A transparent climate strategy
Through our actions, financing, and partnerships, we are leading the way to a low-carbon economy. We do not finance any activities related to fossil fuel projects. The carbon intensity of the loans granted by Memo Bank to its clients is nearly four times lower than the average of major French banks. Our clients’ deposits that are put in the European Central Bank have a reduced carbon footprint.
