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Banque Federative du Credit Mutuel Oct 08
Standard & Poors, Oct 2008
Abstract
Strong franchise in French retail banking and insurance market Sound asset quality Relatively low risk profile business mix, primarily focused on retail banking activities in France Satisfactory risk adjusted capital base High systemic importance Pressure on revenues and poor trend in domestic retail profitability Financial flexibility reduced following the acquisition of Citibank Deutschland Performance hampered by write-downs on market activities The ratings on Banque F-d-rative du Cr-dit Mutuel (BFCM) are based on its core position as the funding arm of the French regional retail banking group Cr-dit Mutuel Centre Est Europe - Cr-dit Industriel et Commercial (CM4-CIC). In Standard & Poor's Ratings Services' view, BFCM's credit risk mirrors that of its parent, CM4-CIC, given the bank's total operational integration within...
Companies mentioned in this report are: Banque Federative du Credit Mutuel,Credit Industriel et Commercial,Caisse Centrale du Credit Mutuel
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.
Research Type: Full Analysis
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