Summary: Credit du Nord S.A. Dec 06
Standard & Poors, December 2006
Abstract
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.
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
- Credit du Nord S.A.
- Societe Generale
- Banque Kolb S.A.
- Banque Tarneaud S.A.
- Banque Rhone Alpes S.A.
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