Summary: Banque Federale des Banques Populaires Feb 08

Standard & Poors, February 2008

Abstract
The ratings on France-based Banque Fédérale des Banques Populaires (BFBP) reflect its core position within the Banque Populaire cooperative banking group (Group Banque Populaire or GBP). GBP's creditworthiness is based on very solid market positions in domestic retail and corporate banking, sound profitability in retail banking, and strong capitalization. GBP conducts investment banking activities through Natixis S.A. (AA/Negative/A-1+), a jointly controlled subsidiary where, in 2006, GBP pooled its wholesale and financial services activities with those of Groupe Caisse d'Epargne (GCE; central body Caisse Nationale des Caisses d'Epargne et de Prévoyance, AA/Negative/A-1+). GBP is the sixth-largest banking group in France by total assets. The group benefits from a good domestic market position and business diversification, resulting from a dynamic commercial policy...

Companies mentioned in this report are:
- Banque Federale des Banques Populaires
- Natixis S.A.
- Caisses d'Epargne Participations

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.

- Banque Federale des Banques Populaires
- Natixis S.A.
- Caisses d'Epargne Participations

Customers who bought this item also bought

• Étude de l’OCDE sur la gestion des risques d’inondation: Bassin de la Loire, France 2010
• Revenue Opportunities and Stakeholder Mapping in the French Land Defence Market
• The Global Naval Vessels MRO Market 2012–2022
• United Kingdom Defence and Security Report Q4 2010
• OECD Public Governance Reviews: France: An international perspective on the General Review of Public Policies
• The Global Military Aviation MRO Market 2012-2022
• Future of the UK Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2017
• Defense Spending in France
• Aerospace & Defense in France
• Libraries Canada 2012/13 Edition