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French finance minister summons bank chiefs over Panama papers report

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French Finance Minister Michel Sapin will meet with the chairmen of French banks after demanding explanations about a press report alleging they set up offshore companies for clients, he said on Wednesday.

[PARIS] French Finance Minister Michel Sapin will meet with the chairmen of French banks after demanding explanations about a press report alleging they set up offshore companies for clients, he said on Wednesday.

"It would not be tolerable that banks allow fraud, tax evasion or money-laundering," he said in statement.

Le Monde newspaper widened the list of French banks under the tax haven spotlight in an article on Wednesday to include BNP Paribas, Credit Agricole and Credit Mutuel.

The statement mentioned that Mr Sapin was to meet two unspecified banks.

REUTERS