S&P Global Ratings' bank ratings criteria framework outlines the elements of an issuer's credit profile and how we assess these elements to determine the rating on an issuer. Although we consider many quantitative and qualitative factors, the following tables highlight some of the key ratios we consider in our assessments and are meant to provide additional transparency. The glossary explains the concepts and calculations of the reported metrics and ratios.
We have based the tables on the top 15 French banks for which we perform a stand-alone analysis ranked by revenues. Lenders are ranked based on their 2018 operating revenues, net of interest expense and any nonrecurring income. As a general principle, we obtain historical data from published consolidated financial statements. In some cases, we make analytical adjustments to the amounts that lenders report in their financial statements and other published information to arrive at the metrics. The objective in making these adjustments is to generate measures consistent with our criteria and more meaningfully reflect the economic substance of institutions' activities. This also enables us to level the reporting differences between lenders.
Chart 1
Table 1
Selected Financial Metrics--Smaller Banks Versus The Largest Banks | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Smaller Banks | Top 5 Banks | Total banks | ||||||||||||
(%) | 2018 | 2017 | 2018 | 2017 | 2018 | 2017 | ||||||||
Net interest income/average earning asset (NIM) (mean) | 2.5 | 2.6 | 1.4 | 1.5 | 2.1 | 2.2 | ||||||||
Noninterest income/revenues (mean) | 52.5 | 69.2 | 54.7 | 53.1 | 53.2 | 63.8 | ||||||||
Net customer loans/customer deposit (median) | 203.4 | 273.7 | 114.8 | 117.5 | 163.3 | 179.7 | ||||||||
Noninterest expenses/average assets (mean) | 2.3 | 2.4 | 1.4 | 1.4 | 2.0 | 2.0 | ||||||||
New loan loss provisions/revenues (mean) | 12.1 | 11.1 | 5.3 | 5.3 | 9.8 | 9.1 | ||||||||
New loan loss provision/average customer loans (mean) | 0.6 | 0.7 | 0.2 | 0.3 | 0.5 | 0.5 | ||||||||
Operating income after provisions/revenues (mean) | 42.8 | 90.0 | 26.2 | 27.4 | 37.3 | 69.2 | ||||||||
Return on Equity (median) | 5.5 | 5.7 | 6.6 | 5.8 | 6.6 | 5.8 | ||||||||
Annual growth in customer loan (median) | 0.9 | 1.7 | 5.0 | 4.3 | 4.5 | 3.1 | ||||||||
Gross NPLs/customer loans (mean) | 5.2 | 5.2 | 3.6 | 4.0 | 4.6 | 4.8 | ||||||||
Noninterest expenses/revenues (median) | 68.6 | 64.5 | 69.7 | 68.3 | 69.7 | 68.3 | ||||||||
Stable funding ratio (mean) | 91.6 | 87.0 | 97.3 | 97.8 | 93.5 | 90.6 | ||||||||
Broad liquid assets/short-term wholesale funding (median) | 0.9 | 0.6 | 1.0 | 1.0 | 1.0 | 0.9 | ||||||||
Total wholesale funding/funding base (median) | 63.8 | 68.7 | 43.0 | 42.9 | 54.9 | 58.2 | ||||||||
Source: S&P Global Ratings database. Data is unweighted. NPL--Nonperforming loans. |
Table 2
Largest French Lenders By Revenues (2018 Data) | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
(Mil. €) | Lender | Long-term issuer credit rating/outlook | Revenues | Pre-tax profit | Total assets | |||||||
1 | BNP Paribas | A+/Stable | 43,144 | 10,208 | 2,040,836 | |||||||
2 | Credit Agricole Group | A+/Stable | 33,127 | 10,102 | 1,854,763 | |||||||
3 | Societe Generale | A/Positive | 25,261 | 6,117 | 1,309,428 | |||||||
4 | BPCE | A+/Stable | 24,255 | 5,297 | 1,273,926 | |||||||
5 | Credit Mutuel Group | A/Stable | 17,680 | 5,388 | 852,564 | |||||||
6 | La Banque Postale | A/Positive | 5,838 | 1,039 | 245,201 | |||||||
7 | RCI Banque | BBB/Negative | 1,951 | 1,215 | 53,394 | |||||||
8 | HSBC France | AA-/Stable | 1,736 | 45 | 180,946 | |||||||
9 | PSA Banque France | BBB+/Stable | 475 | 321 | 13,153 | |||||||
10 | Oney Bank | BBB/Watch Pos | 433 | 66 | 3,592 | |||||||
11 | Carrefour Banque | BBB+/Stable | 326 | 25 | 5,003 | |||||||
12 | My Money Bank | BBB-/Stable | 145 | 104 | 5,777 | |||||||
13 | SFIL | AA/Stable | 173 | 71 | 72,689 | |||||||
14 | Socram Banque | BBB+/Stable | 55 | 11 | 1,921 | |||||||
15 | Dexia | BBB/Stable | (226) | (459) | 158,804 | |||||||
Source: S&P Global Ratings' database. |
Table 3
French Banks Comparative Statistics (2014 - 2018) | ||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Adjusted assets (mil. €) | Total equity (mil. €) | |||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | 2014 | 2015 | 2016 | 2017 | 2018 | |||||||||||||
BNP Paribas |
1,863,547 | 1,769,417 | 1,834,992 | 1,700,563 | 1,788,732 | 90,576 | 97,828 | 103,825 | 106,405 | 105,524 | ||||||||||||
Societe Generale |
1,180,742 | 1,196,143 | 1,242,287 | 1,110,182 | 1,141,510 | 54,951 | 59,184 | 62,000 | 61,445 | 63,749 | ||||||||||||
Credit Agricole Group |
1,405,552 | 1,314,804 | 1,320,067 | 1,334,891 | 1,413,984 | 94,314 | 99,015 | 104,801 | 107,282 | 111,054 | ||||||||||||
BPCE |
1,078,267 | 1,017,312 | 1,066,613 | 1,086,059 | 1,089,089 | 59,304 | 62,845 | 67,019 | 70,137 | 72,633 | ||||||||||||
Credit Mutuel group |
523,565 | 550,922 | 597,969 | 608,183 | 643,917 | 46,222 | 49,486 | 51,881 | 54,202 | 55,688 | ||||||||||||
La Banque Postale |
133,037 | 141,558 | 156,961 | 158,237 | 172,101 | 9,407 | 9,944 | 10,624 | 10,894 | 10,468 | ||||||||||||
RCI Banque |
31,925 | 36,977 | 43,228 | 49,619 | 53,304 | 3,161 | 3,495 | 4,060 | 4,719 | 5,307 | ||||||||||||
HSBC France |
200,309 | 167,598 | 168,698 | 166,778 | 180,024 | 5,804 | 5,938 | 5,873 | 5,706 | 6,584 | ||||||||||||
PSA Banque France |
N/A | 9,330 | 10,206 | 11,390 | 13,153 | N/A | 1,083 | 1,080 | 1,176 | 1,305 | ||||||||||||
Oney Bank |
2,742 | 3,092 | 3,237 | 3,417 | 3,539 | 432 | 505 | 562 | 582 | 572 | ||||||||||||
Carrefour Banque |
5,350 | 5,153 | 4,862 | 4,963 | 4,891 | 647 | 663 | 666 | 676 | 592 | ||||||||||||
My Money Bank |
N/A | N/A | N/A | 4,557 | 5,770 | N/A | N/A | N/A | 608 | 673 | ||||||||||||
SFIL |
87,998 | 83,670 | 78,917 | 72,403 | 72,689 | 1,409 | 1,385 | 1,388 | 1,469 | 1,563 | ||||||||||||
Socram Banque |
1,887 | 2,078 | 1,876 | 1,903 | 1,737 | 207 | 215 | 224 | 226 | 231 | ||||||||||||
Dexia |
247,097 | 230,254 | 212,739 | 180,903 | 158,767 | 3,032 | 4,451 | 4,478 | 5,306 | 7,745 | ||||||||||||
Median | 200,309 | 154,578 | 162,830 | 158,237 | 158,767 | 5,804 | 5,195 | 5,176 | 5,306 | 6,584 | ||||||||||||
Operating revenues (mil. €) | Net income before minority interest (mil. €) | |||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | 2014 | 2015 | 2016 | 2017 | 2018 | |||||||||||||
BNP Paribas | 39,900 | 43,213 | 43,506 | 43,816 | 43,144 | 507 | 7,044 | 8,115 | 8,207 | 8,005 | ||||||||||||
Societe Generale | 23,912 | 25,199 | 25,057 | 25,066 | 25,261 | 2,991 | 4,395 | 4,338 | 3,430 | 4,556 | ||||||||||||
Credit Agricole Group | 31,058 | 31,799 | 31,778 | 32,978 | 33,127 | 5,279 | 6,431 | 5,172 | 7,010 | 7,369 | ||||||||||||
BPCE | 23,635 | 24,128 | 23,697 | 24,018 | 24,255 | 3,366 | 3,800 | 4,488 | 3,705 | 3,819 | ||||||||||||
Credit Mutuel group | 15,411 | 16,304 | 16,728 | 17,407 | 17,680 | 3,027 | 3,095 | 3,278 | 3,054 | 3,578 | ||||||||||||
La Banque Postale | 5,872 | 5,952 | 5,686 | 5,951 | 5,838 | 702 | 744 | 734 | 798 | 766 | ||||||||||||
RCI Banque | 1,200 | 1,351 | 1,473 | 1,643 | 1,951 | 456 | 573 | 626 | 748 | 882 | ||||||||||||
HSBC France | 1,962 | 2,342 | 2,301 | 1,993 | 1,736 | 199 | 447 | 312 | 176 | -18 | ||||||||||||
PSA Banque France | N/A | 415 | 427 | 456 | 475 | N/A | 132 | 149 | 167 | 218 | ||||||||||||
Oney Bank | 383 | 387 | 389 | 412 | 433 | 51 | 70 | 82 | 38 | 53 | ||||||||||||
Carrefour Banque | 448 | 413 | 389 | 360 | 326 | 65 | 37 | 29 | 38 | 17 | ||||||||||||
My Money Bank | N/A | N/A | N/A | 123 | 145 | N/A | N/A | N/A | 602 | 108 | ||||||||||||
SFIL | 83 | 98 | 155 | 204 | 173 | -34 | -59 | 18 | 54 | 63 | ||||||||||||
Socram Banque | 45 | 46 | 50 | 56 | 55 | 12 | 12 | 13 | 6 | 7 | ||||||||||||
Dexia | -315 | 907 | 651 | -72 | -226 | -613 | 169 | 352 | -461 | -499 | ||||||||||||
Median | 1,962 | 1,847 | 1,887 | 1,643 | 1,736 | 456 | 510 | 489 | 602 | 218 | ||||||||||||
Core/customer deposits (mil. €) | Customer loans (net)/customer deposits (%) | |||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | 2014 | 2015 | 2016 | 2017 | 2018 | |||||||||||||
BNP Paribas | 629,553 | 682,928 | 743,695 | 744,924 | 792,495 | 104 | 99 | 96 | 98 | 96 | ||||||||||||
Societe Generale | 318,258 | 346,543 | 388,095 | 382,346 | 385,110 | 112 | 111 | 104 | 106 | 109 | ||||||||||||
Credit Agricole Group | 575,020 | 621,744 | 645,527 | 684,539 | 737,243 | 122 | 117 | 118 | 117 | 115 | ||||||||||||
BPCE | 371,933 | 404,104 | 415,340 | 444,156 | 456,960 | 149 | 140 | 142 | 139 | 142 | ||||||||||||
Credit Mutuel group | 268,838 | 295,682 | 330,263 | 344,783 | 363,755 | 136 | 131 | 126 | 126 | 126 | ||||||||||||
La Banque Postale | 86,813 | 93,028 | 102,598 | 108,305 | 112,377 | 76 | 76 | 76 | 81 | 85 | ||||||||||||
RCI Banque | 7,304 | 10,933 | 13,267 | 15,844 | 16,781 | 393 | 294 | 291 | 279 | 283 | ||||||||||||
HSBC France | 37,984 | 35,009 | 35,889 | 39,903 | 41,906 | 104 | 120 | 123 | 117 | 112 | ||||||||||||
PSA Banque France | N/A | 1,370 | 1,826 | 2,154 | 2,518 | N/A | 603 | 505 | 474 | 469 | ||||||||||||
Oney Bank | 462 | 327 | 518 | 1,124 | 1,222 | 468 | 671 | 453 | 220 | 203 | ||||||||||||
Carrefour Banque | 542 | 603 | 525 | 1,003 | 1,273 | 591 | 531 | 566 | 274 | 193 | ||||||||||||
My Money Bank | N/A | N/A | N/A | 932 | 2,290 | N/A | N/A | N/A | 425 | 215 | ||||||||||||
SFIL | - | - | - | - | - | N/A | N/A | N/A | N/A | N/A | ||||||||||||
Socram Banque | 250 | 340 | 557 | 687 | 773 | 631 | 471 | 300 | 230 | 184 | ||||||||||||
Dexia | 7,957 | 8,963 | 8,164 | 2,623 | 550 | 1,701 | 1,427 | 1,460 | 3,784 | 6,392 | ||||||||||||
Median | 37,984 | 22,971 | 24,578 | 15,844 | 16,781 | 142 | 140 | 142 | 180 | 163 | ||||||||||||
Stable funding ratio (%) | Broad liquid assets/short-term wholesale funding (x) | |||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | 2014 | 2015 | 2016 | 2017 | 2018 | |||||||||||||
BNP Paribas | 92 | 96 | 98 | 102 | 101 | 1.06 | 1.16 | 1.24 | 1.29 | 1.26 | ||||||||||||
Societe Generale | 91 | 95 | 100 | 103 | 100 | 1.1 | 1.18 | 1.34 | 1.36 | 1.33 | ||||||||||||
Credit Agricole Group | 89 | 93 | 95 | 96 | 98 | 0.98 | 0.95 | 0.98 | 0.98 | 1.01 | ||||||||||||
BPCE | 88 | 93 | 91 | 92 | 94 | 0.88 | 0.99 | 0.93 | 0.94 | 0.97 | ||||||||||||
Credit Mutuel group | 93 | 95 | 95 | 96 | 95 | 0.89 | 0.92 | 0.91 | 0.93 | 0.9 | ||||||||||||
La Banque Postale | 119 | 117 | 121 | 121 | 120 | 2 | 1.96 | 2 | 2.29 | 1.94 | ||||||||||||
RCI Banque | 78 | 82 | 81 | 86 | 86 | 0.21 | 0.37 | 0.27 | 0.38 | 0.42 | ||||||||||||
HSBC France | 63 | 62 | 67 | 72 | 66 | 1.03 | 0.83 | 0.9 | 1.07 | 0.99 | ||||||||||||
PSA Banque France | N/A | 67 | 55 | 81 | 74 | N/A | 0.29 | 0.17 | 0.41 | 0.3 | ||||||||||||
Oney Bank | 52 | 46 | 59 | 73 | 83 | 0.07 | 0.26 | 0.37 | 0.64 | 1.14 | ||||||||||||
Carrefour Banque | 66 | 59 | 85 | 106 | 84 | 0.67 | 0.11 | 0.91 | 1.54 | 0.94 | ||||||||||||
My Money Bank | N/A | N/A | N/A | 85 | 93 | N/A | N/A | N/A | 0.55 | 0.8 | ||||||||||||
SFIL | 85 | 89 | 92 | 93 | 111 | 0.37 | 0.59 | 0.67 | 0.65 | 2.12 | ||||||||||||
Socram Banque | 84 | 90 | 62 | 97 | 86 | 0.38 | 0.75 | 0.17 | 0.97 | 0.52 | ||||||||||||
Dexia | 52 | 44 | 52 | 57 | 52 | 0.33 | 0.27 | 0.32 | 0.44 | 0.84 | ||||||||||||
Median | 85 | 89 | 88 | 93 | 93 | 0.88 | 0.79 | 0.91 | 0.94 | 0.97 | ||||||||||||
Core deposits/funding base (%) | Net interest income/average earning assets (NIM) (%) | |||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | 2014 | 2015 | 2016 | 2017 | 2018 | |||||||||||||
BNP Paribas | 49.8 | 54.8 | 57.1 | 57.7 | 57.6 | 1.8 | 1.9 | 1.9 | 1.9 | 1.8 | ||||||||||||
Societe Generale | 38.7 | 40.5 | 43.8 | 45.6 | 44.2 | 1.2 | 1.1 | 1.1 | 1.3 | 1.4 | ||||||||||||
Credit Agricole Group | 55.5 | 61.1 | 63.0 | 62.1 | 61.8 | 1.9 | 1.9 | 1.8 | 1.8 | 1.6 | ||||||||||||
BPCE | 41.9 | 47.9 | 46.7 | 48.2 | 49.0 | 1.4 | 1.3 | 1.3 | 1.2 | 1.0 | ||||||||||||
Credit Mutuel group | 58.5 | 60.7 | 61.9 | 63.2 | 62.8 | 1.6 | 1.5 | 1.4 | 1.4 | 1.4 | ||||||||||||
La Banque Postale | 74.6 | 74.8 | 74.1 | 77.0 | 72.3 | 2.7 | 2.5 | 2.1 | 1.9 | 1.5 | ||||||||||||
RCI Banque | 27.2 | 34.8 | 36.2 | 37.6 | 37.1 | 3.2 | 3.1 | 2.9 | 2.8 | 2.9 | ||||||||||||
HSBC France | 39.8 | 37.0 | 36.6 | 38.4 | 35.7 | 1.2 | 1.2 | 1.1 | 0.9 | 0.8 | ||||||||||||
PSA Banque France | N/A | 17.8 | 21.7 | 22.8 | 22.9 | N/A | N/A | 3.4 | 3.3 | 3.1 | ||||||||||||
Oney Bank | 21.9 | 13.8 | 21.2 | 43.6 | 45.1 | 7.7 | 7.6 | 7.4 | 7.6 | 7.7 | ||||||||||||
Carrefour Banque | 11.9 | 13.8 | 12.7 | 23.6 | 30.3 | 5.1 | 4.9 | 4.9 | 4.4 | 4.0 | ||||||||||||
My Money Bank | N/A | N/A | N/A | 25.0 | 47.0 | N/A | N/A | N/A | N/A | 2.3 | ||||||||||||
SFIL | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 | 0.2 | 0.3 | 0.2 | ||||||||||||
Socram Banque | 15.1 | 18.5 | 34.5 | 41.8 | 52.1 | 2.2 | 2.2 | 2.4 | 2.4 | 2.3 | ||||||||||||
Dexia | 4.5 | 5.3 | 5.4 | 2.0 | 0.6 | 0.1 | 0.2 | 0.1 | 0.1 | 0.0 | ||||||||||||
Median | 38.7 | 35.9 | 36.4 | 41.8 | 45.1 | 1.8 | 1.9 | 1.9 | 1.8 | 1.6 | ||||||||||||
Noninterest expenses/operating revenues (%) | New loan loss provisions/operating revenues (%) | |||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | 2014 | 2015 | 2016 | 2017 | 2018 | |||||||||||||
BNP Paribas | 66.5 | 67.5 | 67.4 | 68.3 | 70.9 | 9.3 | 8.8 | 7.5 | 6.6 | 6.4 | ||||||||||||
Societe Generale | 67.0 | 67.0 | 67.8 | 70.4 | 69.7 | 10.7 | 9.8 | 7.0 | 3.8 | 4.0 | ||||||||||||
Credit Agricole Group | 61.8 | 62.4 | 63.4 | 62.9 | 64.8 | 9.5 | 8.0 | 7.6 | 5.0 | 5.2 | ||||||||||||
BPCE | 69.1 | 67.3 | 70.4 | 71.2 | 72.9 | 7.5 | 7.6 | 6.1 | 5.6 | 5.4 | ||||||||||||
Credit Mutuel group | 64.0 | 63.2 | 63.8 | 63.6 | 64.1 | 6.8 | 6.0 | 5.6 | 5.5 | 5.6 | ||||||||||||
La Banque Postale | 79.6 | 78.9 | 80.7 | 77.6 | 79.9 | 2.8 | 3.0 | 3.2 | 3.2 | 2.3 | ||||||||||||
RCI Banque | 35.3 | 31.8 | 31.4 | 31.8 | 29.5 | 9.1 | 6.9 | 7.1 | 2.7 | 7.4 | ||||||||||||
HSBC France | 80.4 | 69.3 | 72.9 | 80.4 | 97.6 | 5.7 | 5.2 | 3.2 | 4.1 | -0.6 | ||||||||||||
PSA Banque France | N/A | 39.9 | 39.4 | 38.4 | 33.1 | N/A | 14.8 | 4.8 | 7.0 | 3.0 | ||||||||||||
Oney Bank | 63.0 | 64.9 | 63.1 | 72.9 | 70.0 | 20.7 | 17.3 | 14.7 | 14.2 | 14.9 | ||||||||||||
Carrefour Banque | 56.8 | 53.9 | 59.6 | 56.2 | 67.3 | 22.8 | 27.6 | 28.8 | 28.8 | 24.6 | ||||||||||||
My Money Bank | N/A | N/A | N/A | 81.8 | 78.1 | N/A | N/A | N/A | 9.6 | 3.3 | ||||||||||||
SFIL | 119.0 | 104.1 | 69.5 | 55.4 | 64.7 | 21.6 | 14.3 | -11.6 | -10.8 | 2.9 | ||||||||||||
Socram Banque | 56.2 | 56.7 | 55.2 | 79.5 | 73.7 | 6.7 | 3.4 | 4.7 | 6.0 | 6.5 | ||||||||||||
Dexia | -121.3 | 51.8 | 62.5 | -584.7 | -161.5 | -19.7 | 19.3 | -21.5 | 45.8 | 56.6 | ||||||||||||
Median | 64.0 | 64.1 | 63.6 | 68.3 | 69.7 | 9.1 | 8.4 | 5.9 | 5.6 | 5.4 | ||||||||||||
Core earnings/operating revenues (%) | Gross nonperforming assets/customer loans + other real estate owned (%) | |||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | 2014 | 2015 | 2016 | 2017 | 2018 | |||||||||||||
BNP Paribas | 16.7 | 16.2 | 17.4 | 17.6 | 17.0 | 6.4 | 6.0 | 5.8 | 5.1 | 4.5 | ||||||||||||
Societe Generale | 13.9 | 14.6 | 14.0 | 17.6 | 16.7 | 6.9 | 6.1 | 5.7 | 5.0 | 4.4 | ||||||||||||
Credit Agricole Group | 19.6 | 20.3 | 19.9 | 21.3 | 21.9 | 3.7 | 3.5 | 3.5 | 3.1 | 2.7 | ||||||||||||
BPCE | 14.0 | 15.1 | 15.5 | 15.5 | 15.4 | 4.1 | 4.0 | 3.9 | 3.7 | 3.2 | ||||||||||||
Credit Mutuel group | 19.5 | 19.4 | 20.5 | 17.6 | 20.1 | 4.3 | 4.1 | 3.9 | 3.3 | 3.1 | ||||||||||||
La Banque Postale | 12.0 | 12.3 | 11.8 | 13.4 | 13.1 | 1.2 | 1.4 | 1.4 | 1.4 | 1.5 | ||||||||||||
RCI Banque | 38.0 | 41.7 | 42.3 | 45.8 | 46.0 | 3.0 | 2.5 | 1.5 | 1.3 | 1.3 | ||||||||||||
HSBC France | 11.6 | 18.7 | 18.9 | 12.6 | -0.6 | 4.1 | 3.5 | 2.7 | 2.2 | 2.3 | ||||||||||||
PSA Banque France | N/A | 31.4 | 34.0 | 35.0 | 43.5 | N/A | 3.0 | 2.2 | 2.5 | 1.7 | ||||||||||||
Oney Bank | 13.3 | 15.0 | 17.3 | 9.3 | 12.2 | 25.5 | 24.4 | 20.7 | 17.4 | 14.0 | ||||||||||||
Carrefour Banque | 15.1 | 11.2 | 7.7 | 10.9 | 5.4 | 14.4 | 15.0 | 15.0 | 15.3 | 14.6 | ||||||||||||
My Money Bank | N/A | N/A | N/A | 8.6 | 17.3 | N/A | N/A | N/A | 6.6 | 7.3 | ||||||||||||
SFIL | -31.0 | -48.0 | 15.5 | 32.2 | 29.6 | 0.7 | 1.1 | 0.9 | 1.0 | 2.4 | ||||||||||||
Socram Banque | 24.7 | 25.9 | 25.6 | 10.6 | 13.0 | 4.4 | 4.1 | 3.7 | 3.6 | 4.1 | ||||||||||||
Dexia | 243.5 | 26.1 | 65.4 | 656.9 | 222.6 | 0.9 | 1.0 | 0.9 | 0.9 | 2.3 | ||||||||||||
Median | 15.1 | 17.4 | 18.2 | 17.6 | 17.0 | 4.1 | 3.8 | 3.6 | 3.3 | 3.1 | ||||||||||||
New loan loss provisions/average customer loans (%) | Growth in customer loans (%) | |||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | 2014 | 2015 | 2016 | 2017 | 2018 | |||||||||||||
BNP Paribas | 0.57 | 0.55 | 0.46 | 0.39 | 0.36 | 6.1 | 3.1 | 4.9 | 1.9 | 4.5 | ||||||||||||
Societe Generale | 0.7 | 0.64 | 0.43 | 0.23 | 0.24 | 3.5 | 8.0 | 4.1 | -0.3 | 3.8 | ||||||||||||
Credit Agricole Group | 0.41 | 0.34 | 0.31 | 0.21 | 0.2 | 0.1 | 3.8 | 4.6 | 4.9 | 5.0 | ||||||||||||
BPCE | 0.32 | 0.32 | 0.24 | 0.22 | 0.2 | 3.1 | 2.3 | 4.2 | 4.4 | 5.3 | ||||||||||||
Credit Mutuel group | 0.28 | 0.25 | 0.23 | 0.22 | 0.22 | 3.9 | 5.6 | 7.4 | 4.3 | 5.5 | ||||||||||||
La Banque Postale | 0.26 | 0.26 | 0.24 | 0.23 | 0.14 | 12.4 | 6.7 | 10.6 | 13.1 | 8.8 | ||||||||||||
RCI Banque | 0.38 | 0.3 | 0.29 | 0.10 | 0.31 | 7.9 | 11.6 | 19.8 | 14.3 | 7.7 | ||||||||||||
HSBC France | 0.29 | 0.29 | 0.17 | 0.18 | -0.02 | 6.8 | 5.9 | 5.3 | 5.7 | 0.4 | ||||||||||||
PSA Banque France | N/A | N/A | 0.23 | 0.32 | 0.13 | N/A | N/A | 10.9 | 10.5 | 15.2 | ||||||||||||
Oney Bank | 3 | 2.48 | 2.09 | 2.08 | 2.26 | 2.6 | 1.1 | 2.9 | 1.7 | 1.4 | ||||||||||||
Carrefour Banque | 2.83 | 3.16 | 3.23 | 3.22 | 2.67 | -0.4 | -0.1 | -6.9 | -7.4 | -6.4 | ||||||||||||
My Money Bank | N/A | N/A | N/A | 0.43 | 0.11 | N/A | N/A | N/A | N/A | 25.4 | ||||||||||||
SFIL | 0.03 | 0.02 | -0.03 | -0.04 | 0.01 | -0.2 | -4.5 | -5.6 | -4.6 | -21.6 | ||||||||||||
Socram Banque | 0.18 | 0.09 | 0.14 | 0.20 | 0.23 | -1.7 | 1.3 | 4.1 | -5.6 | -9.6 | ||||||||||||
Dexia | 0.05 | 0.13 | -0.11 | -0.03 | -0.19 | 5.1 | -5.4 | -6.9 | -16.7 | -64.5 | ||||||||||||
Median | 0.32 | 0.3 | 0.24 | 0.22 | 0.2 | 3.53 | 3.12 | 4.35 | 3.125 | 4.5 | ||||||||||||
Year-on-year growth in operating revenues (%) | ||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | ||||||||||||||||||
BNP Paribas | 1.7 | 8.3 | 0.7 | 0.7 | -1.5 | |||||||||||||||||
Societe Generale | -2.4 | 5.4 | -0.6 | 0.0 | 0.8 | |||||||||||||||||
Credit Agricole Group | -1.6 | 2.4 | -0.1 | 3.8 | 0.5 | |||||||||||||||||
BPCE | 1.4 | 2.1 | -1.8 | 1.4 | 1.0 | |||||||||||||||||
Credit Mutuel group | 1.0 | 5.8 | 2.6 | 4.1 | 1.6 | |||||||||||||||||
La Banque Postale | 1.7 | 1.4 | -4.5 | 4.6 | -1.9 | |||||||||||||||||
RCI Banque | -1.2 | 12.6 | 9.0 | 11.5 | 18.8 | |||||||||||||||||
HSBC France | -11.9 | 19.4 | -1.8 | -13.4 | -12.9 | |||||||||||||||||
PSA Banque France | N/A | N/A | 2.9 | 6.7 | 4.2 | |||||||||||||||||
Oney Bank | 2.8 | 1.1 | 0.5 | 5.9 | 5.2 | |||||||||||||||||
Carrefour Banque | 5.7 | -7.9 | -5.8 | -7.5 | -9.4 | |||||||||||||||||
My Money Bank | N/A | N/A | N/A | N/A | 17.5 | |||||||||||||||||
SFIL | -50.8 | 17.8 | 58.5 | 31.4 | -15.2 | |||||||||||||||||
Socram Banque | 5.2 | 1.5 | 7.9 | 13.3 | -3 | |||||||||||||||||
Dexia | N.M | N.M | -28.2 | -111.1 | N.M. | |||||||||||||||||
Median | 1.2 | 3.9 | 0.2 | 3.9 | 0.6 | |||||||||||||||||
Source: S&P Global Ratings' database. Year-end is Dec. 31, unless otherwise stated. N.M. --Not meaningful. N/A -- Not available. |
Glossary Of Terms
For more definitions please refer to "Quantitative Metrics For Rating Banks Globally: Methodology And Assumptions," published on July 17, 2013.
Adjusted assets
Assets as reported, less insurance statutory funds, nonservicing intangibles, and allowance for loan losses in countries where such reserves are represented as a liability account.
Total equity
The sum of common shareholders' equity, minority interest-equity, and hybrid instruments with high or intermediate equity content.
Operating revenues
All revenues net of interest expense and nonrecurring income.
Customer loans (net)/customer deposit ratio (%)
Net customer loans. Customer loans (gross) net of loan loss reserves and net of reverse repurchase agreements and net of securities borrowing.
Customer loans (net). Loans to nonbank customers before reserves but net of unearned income.
Customer deposits. Customer deposits net of repurchase agreements and net of securities lending.
Stable funding ratio (SFR) (%)
Stable funding ratio. Available stable funding divided by stable funding needs.
Available stable funding. The sum of total equity net of intangibles, customer deposits, and long-term interbank and debt market funding including hybrid instruments with minimal equity content maturing after one year.
Stable funding needs. The sum of customer loans (net), short-term reverse repurchase agreements and securities borrowing with nonbanks maturing within one year net of haircut, long-term interbank loans and reverse repurchase agreements and securities borrowing maturing after one year, securities holdings net of haircut, restricted, all other assets net of haircut, and off-balance sheet credit equivalents net of haircut.
Broad liquid assets to short-term wholesale funding (BLAST) ratio (x)
Broad liquid assets. The sum of cash, short-term interbank loans and reverse repurchase agreements and securities borrowing with banks maturing within one year, short-term reverse repurchase agreements and securities borrowing with nonbanks net of haircut maturing within one year, and securities holdings net of haircut less restricted cash.
Short-term wholesale funding. The sum of short-term interbank and debt.
Net interest income/average earning assets (NIM) (%)
Net interest income. Interest income net of interest expense. May include dividend income and loan fees according to convention of country.
Earning assets. Interbank deposits, reverse repos, securities, gross loans, and leases.
Noninterest expenses/operating revenues (%)
Noninterest expenses. Salaries and general administrative expenses before any nonrecurring expenses.
New loan loss provisions/operating revenues (%)
New loan loss provisions. Credit loss provision (net new) minus provisions for loans to banks.
Gross nonperforming assets/customer loans + other real estate owned (%)
Gross nonperforming assets. Sum of non-accrual loans, restructured loans, repossessed real estates owned, and loans over 90 days past due but accruing.
Customer loans + other real estate owned. Loans to nonbank customers net of unearned income and net of reserves + other real estate owned.
New loan loss provisions/average customer loans (%)
New loan loss provisions. Credit loss provision (net new) minus provisions for loans to banks.
Average customer loans. Daily average if reported by bank; otherwise the arithmetic mean of period-end and prior year-end customer loans.
This report does not constitute a rating action.
Primary Credit Analyst: | Emna Chahed, Paris + 33 14 075 2524; emna.chahed@spglobal.com |
Secondary Contact: | Nicolas Malaterre, Paris (33) 1-4420-7324; nicolas.malaterre@spglobal.com |
Research Contributor: | Mehdi Amghar, Paris; mehdi.amghar@spglobal.com |
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