Summary: Credit du Nord S.A. Dec 06
- ID: 1751945
- December 2006
- Standard & Poors
The ratings on France-based Crédit du Nord S.A. (CDN) are based on the bank's core status within the domestic retail-banking activities of its parent company, Société Générale ( SocGen; AA/Stable/A-1+). Also reflected in the ratings are CDN's satisfactory asset quality, profitability, and capitalization. The ratings on three of CDN's subsidiaries-- Banque Rhône-Alpes S.A. (AA-/Stable/A-1+), Banque Tarneaud S.A. (AA-/Stable/A-1+), and Banque Kolb S.A. (AA-/Stable/A-1+)--reflect their close integration with their direct parent, CDN, and their overall satisfactory financial profile. The ratings on SocGen reflect its very strong business profile, good strategy, and sound financial profile. The acquisition of CDN in 1997 satisfied SocGen's key objective of increasing its domestic market share, consolidating its position as France's fourth-largest player in retail banking. Standard...
Companies mentioned in this report are:
- Credit du Nord S.A.
- Societe Generale
- Banque Kolb S.A.
- Banque Tarneaud S.A.
- Banque Rhone Alpes S.A.
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