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Banque Federative du Credit Mutuel Oct 04
Standard & Poors, Oct 2004
Abstract
Strong franchise in the domestic retail banking scene; Proven expertise in the non-life insurance business, where CMCEE is the leader among French bancassureurs; Dominant position within the Cr-dit Mutuel-CIC group, underpinning Standard & Poor's belief that CMCEE is the driving force behind Cr-dit Mutuel-CIC's creditworthiness; Successful--albeit slow--restructuring of CIC; and Satisfactory financial profile. Overriding ambition to grow, which--although positive for CMCEE's franchise--is weighing on costs; and Continuing need to strengthen market-risk monitoring. 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 (CMCEE). In Standard & Poor's view, BFCM's credit risk mirrors that of its parent, CMCEE, given the...
Companies mentioned in this report are: Banque Federative du Credit Mutuel,Credit Industriel et Commercial,CIC Finance (DE) Inc.,CIC Funding,Banque Transatlantique,Banque de l'Economie du Commerce et de la Monetique,Banque CIO,Lyonnaise de Banque,Banque Scalbert Dupont,Societe Bordelaise de CIC,Credit Industriel de L'Ouest,Banque CIN,Banque SNVB,Banque CIAL,SOCAPI
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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