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Banque Federative du Credit Mutuel Dec 10
Standard & Poors, Dec 2010
Abstract
Strong franchise in French retail banking and insurance market. Moderate risk profile, benefiting from the large proportion of low-risk residential housing lending. Satisfactory risk-adjusted capitalization. Diversification benefits from recent acquisitions and development in consumer financing yet to be seen. Moderate growth potential and stiff competition in the French domestic banking market. Still potential sensitivity to market volatility, stemming from legacy securitization portfolio. The ratings on Banque F-d-rative du Cr-dit Mutuel (BFCM) are based on Standard & Poor's Ratings Services' view of the BFCM's core position as the funding arm of the French regional retail banking group Cr-dit Mutuel Centre Est Europe - Cr-dit Industriel et Commercial (CM5-CIC). The CM5-CIC ratings reflect its strong franchise in domestic retail banking, along with...
Companies mentioned in this report are: Banque Federative du Credit Mutuel,Cofidis S.A.,Caisse Centrale du Credit Mutuel,Credit Industriel et Commercial
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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