DOCSLIB.ORG

REGISTRATION DOCUMENT and FULL-YEAR FINANCIAL REPORT Contents

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
REGISTRATION DOCUMENT and FULL-YEAR FINANCIAL REPORT Contents 2014 REGISTRATION DOCUMENT AND FULL-YEAR FINANCIAL REPORT Contents FINANCIAL REPORT 213 5 5.1 IFRS Consolidated Financial Statements of Groupe BPCE as at December 31, 2014 214 PRESENTATION OF GROUPE BPCE 3 5.2 Statutory Auditors’ report on the consolidated fi nancial statements 318 1 1.1 Presentation of Groupe BPCE 4 5.3 IFRS Consolidated Financial Statements 1.2 History of the Group 5 of BPCE SA group as at December 31, 2014 320 1.3 Organization of Groupe BPCE 6 5.4 Statutory Auditors’ report on the consolidated 1.4 Key fi gures 2014 9 fi nancial statements 400 1.5 Contacts 11 5.5 BPCE parent company fi nancial statements 402 1.6 Calendar 11 5.6 Statutory Auditors’ report on the fi nancial statements 447 1.7 2014-2017 strategic plan: “Growing Differently” 12 1.8 Groupe BPCE’s Businesses 15 SOCIAL, ENVIRONMENTAL 6 AND SOCIETAL INFORMATION 449 CORPORATE GOVERNANCE 29 6.1 Sustainable development strategy and cooperative identity 450 2 2.1 Introduction 30 6.2 Response to economic challenges 456 2.2 Management and Supervisory Bodies 32 6.3 Human resources information 463 2.3 Role and operating rules of governing bodies 65 6.4 Response to environmental challenges 474 2.4 Rules and principles governing the determination of pay and benefi ts 72 6.5 Response to societal challenges 482 2.5 Potential confl icts of interest 84 6.6 CSR reporting methodology 491 2.6 Chairman’s report on internal control and risk 6.7 Report by one of the Statutory Auditors, management procedures for the year ended a designated independent third-party body, on the December 31, 2014 85 consolidated social, environmental and societal information contained in the management report 494 2.7 Statutory Auditors’ report on the report of the Chairman of the Supervisory Board 106 2.8 Recovery and Restructuring Plan 107 2.9 Persons responsible for auditing the fi nancial LEGAL INFORMATION 497 statements 108 7 7.1 Memorandum and articles of association 498 7.2 Share capital 500 7.3 Ownership structure and distribution of voting rights 502 RISK MANAGEMENT 113 7.4 Material contracts 503 3 3.1 Groupe BPCE’s main risks 115 7.5 Material changes 503 3.2 Pillar III 122 7.6 Statutory Auditors’ special report on related party 3.3 Liquidity, interest rate and foreign exchange risks 166 agreements and commitments 504 3.4 Insurance of insurable risks 172 3.5 Legal risks 173 3.6 Technical insurance risks 178 STATEMENT BY THE PERSON 3.7 Financial Stability Forum recommendations 8 RESPONSIBLE 517 concerning fi nancial transparency 183 8.1 Statement by the person responsible for the registration document and for the annual fi nancial report 518 2014 ACTIVITIES AND FINANCIAL 4 INFORMATION 189 4.1 Foreword 190 ADDITIONAL INFORMATION 519 4.2 Signifi cant events of 2014 191 9 9.1 Documents on display 520 4.3 Groupe BPCE fi nancial data 194 9.2 Cross-reference table for the registration document 521 4.4 BPCE SA group fi nancial data 208 9.3 Cross-reference table for the annual fi nancial report and the management report 523 4.5 Investments 210 9.4 Cross-reference table of main social 4.6 Post-balance sheet events 210 and environmental information 524 4.7 Outlook for Groupe BPCE 211 9.5 Glossary 525 This label recognizes the most transparent Registration LABEL TRANSPARENCE Documents according to the criteria of the Annual labeltransparence.com Transparency Ranking. 2014 Registration document and full-year fi nancial report The English version of this report is a free translation from the original which was prepared in French. All possible care has been taken to ensure that the translation is an accurate presentation of the original. However, in matters of interpretation, views or opinion expressed in the original language version of the document in French take precedence over the translation. Only the French version of the registration document has been submitted to the AMF. It is therefore the only version that is binding in law. The original document was filed with the Autorité des marchés financiers (AMF – French Securities Regulator) on March 18 , 2015 , in accordance with Article 212-13 of the AMF’s General Regulations. It may be used in support of a financial transaction only if supplemented by a Transaction Note that has received approval from the AMF. This document includes all elements of the annual financial report specified by Section I of Article L. 451-1-2 of the Code Monétaire et Financier and Article 222-3 of the AMF’s General Regulations. A table allowing cross-referencing between the documents specified in Article 222-3 of the AMF’s General Regulations and the corresponding sections of this document is provided on pages 521 and 522 . Registration document 2014 1 2 Registration document 2014 PRESENTATION 1 OF GROUPE BPCE 1.1 PRESENTATION OF GROUPE BPCE 4 1.5 CONTACTS 11 1.2 HISTORY OF THE GROUP 5 1.6 CALENDAR 11 Banque Populaire banks 5 Caisses d’Epargne 5 1.7 2014-2017 STRATEGIC PLAN: Groupe BPCE 5 “GROWING DIFFERENTLY” 12 1.3 ORGANIZATION OF GROUPE BPCE 6 1.8 GROUPE BPCE’S BUSINESSES 15 1.3.1 Banque Populaire banks and Caisses d’Epargne 6 1.8.1 Commercial Banking and Insurance 15 1.3.2 BPCE: the central institution of Groupe BPCE 6 1.8.2 Corporate Banking, Investment Management, 1.3.3 Scopes of consolidation of Groupe BPCE Insurance and Financial Services 23 and BPCE SA group 8 1.8.3 Equity interests 27 1.4 KEY FIGURES 2014 9 Groupe BPCE 9 BPCE SA group 10 Registration document 2014 3 PRESENTATION OF GROUPE BPCE 1 Presentation of Groupe BPCE 1.1 Presentation of Groupe BPCE Groupe BPCE is the second largest banking group in France(1), with Its full-service banking model is based on a three-tier structure: its two leading brands, Banque Populaire and Caisse d’Epargne. Its • the two cooperative networks with the Banque Populaire banks and Caisses 108,000 employees serve 36 millions customers, 8.9 million of whom d’Epargne, which are central players in their respective regions; are cooperative shareholders. The Group’s companies adapt their banking business as closely as possible to the needs of individuals and regions. • BPCE, the central institution, responsible for the Group’s strategy, control and coordination; With 18 Banque Populaire banks, 17 Caisses d’Epargne, Natixis, Crédit Foncier, the BPCE subsidiaries, including Natixis, Crédit Foncier, Banque Palatine and Banque Palatine and BPCE International et Outre-mer, Groupe BPCE offers its • BPCE International et Outre-mer. customers an extensive range of products and services, including solutions in savings, placement, cash management, financing, insurance and investment. In In addition, all credit institutions affiliated with BPCE are covered by a guarantee keeping with its cooperative structure, the Group builds long-term relationships and solidarity mechanism. with its customers and helps them achieve their projects, and as such finances The scope of affiliated entities is mainly comprised of the Banque Populaire and over 20% of the French economy. Caisse d’Epargne networks and Natixis. ➡ GROUPE BPCE SIMPLIFIED ORGANIZATION CHART ORGANIZATION CHART OF GROUPE BPCE AT DECEMBER 31, 2014 8.9 MILLION COOPERATIVE SHAREHOLDERS 100% 100% * 50% 50% BPCE CENTRAL INSTITUTION 100% 72% 28% FREE FLOAT * Via Local Savings Companies. (1) No. 2 by market share of customer savings and customer loans (source: Banque de France Q3-2014 – all non-fi nancial customers), No. 2 in terms of penetration rate among professional customers and individual entrepreneurs (source: Pépites CSA 2013-2014 survey). 4 Registration document 2014 PRESENTATION OF GROUPE BPCE History of the Group 1 1.2 History of the Group 1 Banque Populaire banks 1878 The first Banque Populaire bank is created in Angers, by and for 1862 The Banque Populaire banks open their services to individual customers. entrepreneurs, the goal being to pool funds to allow them to finance 1998 The acquisition of Natexis provides Groupe Banque Populaire with a their projects themselves. publicly listed vehicle. 1917 Having achieved cooperative status, the Banque Populaire banks rapidly 2008 The Group strengthens its presence in the heart of France’s regions with 1 become major players in their regional economies, serving craftsmen, the acquisition of seven regional banks from HSBC France. small retailers and SMEs. Caisses d’Epargne 1 1818 The first Caisse d’Epargne is founded in Paris to promote, collect and 1999 The Caisses d’Epargne become cooperative banks, prompting Groupe manage general public savings. Caisse d’Epargne to embark upon a multi-brand strategy with the 1835 The Caisses d’Epargne are recognized as “private establishments of public creation and acquisition of businesses, including the takeover of Crédit utility”. Foncier in the same year, which enables the Group to further develop its real estate activities. 1895 The Caisses d’Epargne conduct operations of general public interest. 2003 With the acquisition of Banque Palatine (formerly Banque San Paolo), 1950 The Caisses d’Epargne are awarded the status of not-for-profit credit the Group establishes closer ties to corporate customers. institutions. 2004 By purchasing Ixis, the Group branches out into investment banking. 1 In 2006, Groupe Banque Populaire and Groupe Caisse d’Epargne took the first step towards a business combination, with the creation of their jointly-owned subsidiary, Natixis. Groupe BPCE 1 2009 On July 31, 2009, the combination of Groupe Banque Populaire and Launch of the “Growing Differently” strategic plan for 2014-2017, Groupe Caisse d’Epargne gives rise to Groupe BPCE. focused on development and transformation, centered on the goal 2010 “Together”, Groupe BPCE’s strategic plan for 2010-2013, mobilizes all of constantly striving to better meet the expectations and needs of Group companies with the aim of making them the preferred banking customers, while affirming Groupe BPCE’s difference as a cooperative institutions of the French and of their companies.
Load more

Recommended publications
  • Műhelytanulmányok 112
    Centre for Economic and Regional Studies of the Hungarian Academy of Sciences – Institute of World Economics MTA Közgazdaság- és Regionális Tudományi Kutatóközpont Világgazdasági Intézet Műhelytanulmányok 112. 2016. május Somai Miklós AZ ÁLLAM SZEREPE A FRANCIA GAZDASÁGBAN Magyar Tudományos Akadémia Közgazdaság- és Regionális Tudományi Kutatóközpont Világgazdasági Intézet Műhelytanulmányok 112. (2016) 1–63. 2016. május Az állam szerepe a francia gazdaságban szerző: Somai Miklós tudományos főmunkatárs Magyar Tudományos Akadémia Közgazdaság- és Regionális Tudományi Kutatóközpont Világgazdasági Intézet email: [email protected] Minden itt kifejtett vélemény és következtetés a szerző sajátja, amely nem minden esetben tükrözi a Világgazdasági Intézet, illetve a Közgazdaság- és Regionális Tudományi Kutatóközpont kutatóinak véleményét, vagy a Magyar Tudományos Akadémia álláspontját ISBN 978-963-301-631-2 ISSN 1417-2720 MTA Közgazdaság- és Regionális Tudományi Kutatóközpont Világgazdasági Intézet Műhelytanulmányok 112. (2016) 1–63. 2016. május Az állam szerepe a francia gazdaságban Somai Miklós1 Összefoglaló Jelen tanulmány az államnak elsősorban a teljesen vagy részben állami tulajdonú vállalatokon – valamint az ezekhez kapcsolódó intézményrendszeren – keresztül megvalósuló gazdasági szerepvállalására koncentrál. Először röviden áttekinti az állami szerepvállalás franciaországi hagyományait, illetve azt, hogy ez a funkció hogyan illeszkedik az általános gazdaságpolitikai eszközrendszerbe. A következő fejezetben bemutatja a XX. század nagy államosítási hullámait és a vállalatok kimentésének 1970- es/1980-as évekbeli technikáját. A következő nagy téma a neoliberális fordulat jegyében beköszöntő (re)privatizációs kurzus, amikor több olyan cég is magánkézbe került, amit még a második világháború végén/után államosítottak. Végül a tanulmány a válság és a válság körüli évek gazdaságpolitikáját (pl. bankmentést) próbálja meg érthetőbbé tenni, illetve az állam modernkori gazdasági szerepvállalását, a vagyonkezelési funkciót szemléltetni.
    [Show full text]
  • Les Résultats Des Grandes Banques Internationales En 2005 Et Au Premier Semestre 2006
    Les résultats des grandes banques internationales en 2005 et au premier semestre 2006 Corinne DAUCHY, Catherine GOUTEROUX Secrétariat général de la Commission bancaire Service des Études bancaires En 2005, le maintien de la croissance économique mondiale à un niveau élevé a eu un impact positif sur les résultats des principaux groupes bancaires des grands pays industriels. La progression des revenus, d’intérêts comme de commissions, et la bonne maîtrise des coûts d’exploitation se sont traduites par des résultats brut d’exploitation en forte hausse. Parallèlement, le coût du risque de crédit s’est inscrit en baisse dans la plupart des pays. Une légère dégradation a toutefois touché les pays anglo-saxons, dans le domaine du crédit aux particuliers, en relation notamment avec le contexte de resserrement monétaire en cours dans ces pays. Au fi nal, le résultat net de l’ensemble des groupes bancaires de l’échantillon s’est accru de 43 %. Leur niveau de rentabilité s’est encore amélioré par rapport à 2004. Dans ce contexte économique dynamique, les opérations transfrontalières en Europe se sont accélérées et les stratégies d’acquisitions ciblées sur des marchés porteurs ont continué à se développer (cf. annexe 1). Les groupes français ont été particulièrement actifs depuis le début de l’année 2006 avec un montant moyen d’acquisitions de 13 milliards d’euros (hors la transaction récemment annoncée du Crédit agricole avec Banca Intesa), soit plus de 50 % des montants investis entre 1999 et juillet 2006. Au premier semestre 2006, la tendance sous-jacente à la bonne tenue des résultats de 2005 demeure, même si, à l’horizon 2007, les perspectives pourraient être moins favorables.
    [Show full text]
  • Florida Prime Holdings Report Data As of March 18, 2021
    Florida Prime Holdings Report Data as of March 18, 2021 Current Security Name Security Classification Cpn Maturity Rate Reset Par Amort Cost (2) Mkt Value (1) Yield ABN Amro Bank NV, Amsterdam TD TIME DEPOSIT 0.09 3/22/2021 530,000,000 0.09 $530,000,000 $530,000,000 ABN Amro Bank NV, Amsterdam TD TIME DEPOSIT 0.09 3/23/2021 50,000,000 0.09 $50,000,000 $50,000,000 ABN Amro Bank NV, Amsterdam TD TIME DEPOSIT 0.09 3/25/2021 250,000,000 0.09 $250,000,000 $250,000,000 ABN Amro Bank NV, Amsterdam TD TIME DEPOSIT 0.10 3/19/2021 98,000,000 0.10 $98,000,000 $98,000,000 ANZ National (Int'l) Ltd. CP4-2 COMMERCIAL PAPER - 4-2 5/18/2021 100,000,000 0.15 $99,974,583 $99,981,192 Albion Capital LLC CPABS4-2 COMMERCIAL PAPER - ABS- 4(2) 3/22/2021 48,000,000 0.12 $47,999,360 $47,999,483 Albion Capital LLC CPABS4-2 COMMERCIAL PAPER - ABS- 4(2) 3/22/2021 22,668,000 0.16 $22,667,597 $22,667,756 Albion Capital LLC CPABS4-2 COMMERCIAL PAPER - ABS- 4(2) 4/9/2021 18,763,000 0.22 $18,760,477 $18,761,521 Albion Capital LLC CPABS4-2 COMMERCIAL PAPER - ABS- 4(2) 4/20/2021 50,000,000 0.18 $49,991,750 $49,993,492 Albion Capital LLC CPABS4-2 COMMERCIAL PAPER - ABS- 4(2) 4/26/2021 54,369,000 0.18 $54,358,398 $54,360,400 Anglesea Funding LLC, Aug 04, 2021 COMMERCIAL PAPER ASSET BACKED CALLABLE 0.20 8/4/2021 4/5/2021 100,000,000 0.21 $100,000,000 $100,000,000 Anglesea Funding LLC, Aug 17, 2021 COMMERCIAL PAPER ASSET BACKED CALLABLE 0.21 8/17/2021 4/19/2021 90,000,000 0.21 $90,000,000 $90,000,000 Anglesea Funding LLC, Jul 30, 2021 COMMERCIAL PAPER ASSET BACKED CALLABLE 0.22 7/30/2021 4/1/2021 22,000,000 0.22 $22,000,000 $22,000,000 Antalis S.A.
    [Show full text]
  • France À Fric: the CFA Zone in Africa and Neocolonialism
    France à fric: the CFA zone in Africa and neocolonialism Ian Taylor Date of deposit 18 04 2019 Document version Author’s accepted manuscript Access rights Copyright © Global South Ltd. This work is made available online in accordance with the publisher’s policies. This is the author created, accepted version manuscript following peer review and may differ slightly from the final published version. Citation for Taylor, I. C. (2019). France à fric: the CFA Zone in Africa and published version neocolonialism. Third World Quarterly, Latest Articles. Link to published https://doi.org/10.1080/01436597.2019.1585183 version Full metadata for this item is available in St Andrews Research Repository at: https://research-repository.st-andrews.ac.uk/ FRANCE À FRIC: THE CFA ZONE IN AFRICA AND NEOCOLONIALISM Over fifty years after 1960’s “Year of Africa,” most of Francophone Africa continues to be embedded in a set of associations that fit very well with Kwame Nkrumah’s description of neocolonialism, where postcolonial states are de jure independent but in reality constrained through their economic systems so that policy is directed from outside. This article scrutinizes the functioning of the CFA, considering the role the currency has in persistent underdevelopment in most of Francophone Africa. In doing so, the article identifies the CFA as the most blatant example of functioning neocolonialism in Africa today and a critical device that promotes dependency in large parts of the continent. Mainstream analyses of the technical aspects of the CFA have generally focused on the exchange rate and other related matters. However, while important, the real importance of the CFA franc should not be seen as purely economic, but also political.
    [Show full text]
  • IDENTITY May 2019 a Universal Cooperative Banking Model
    IDENTITY May 2019 A universal cooperative banking model In our capacity as the 2nd largest banking group in France, we play a key role in the projects pursued by our 30 million customers, to whom we offer our support every day thanks to the expertise and know-how of our 105,000 employees. Strong, respected brands Groupe BPCE nd largest banking million million cooperative Financing 2 group in France 30 customers 9 shareholders more than 2 A universal cooperative banking model Diverse range of business activities in France and abroad Retail banking, Asset & Wealth Insurance Management Banking and financial Asset management, services, Insurance, Wealth management Specialized financing Natixis Investment Managers, Banque Populaire, Natixis Wealth Management Caisse d’Epargne, Banque Palatine, Natixis Assurances Corporate & Payments Investment Banking Capital Markets, Financing, Management of domestic, Trade & Treasury Solutions European and international payment instruments Natixis Natixis Payments Financing % of the French Present in different more than 20 economy more than 40 countries 3 RETAIL BANKING, INSURANCE Financing the economy at a local and regional level aving for retirement, buying your first apartment, starting a new business and financing your company’s growth, Smanaging your everyday banking opera- €564bn tions in a few clicks, obtaining advice on This is the total of our loan outstandings how to develop your business activities in (as at December 31, 2018) France or abroad... • As many expectations as customers Our banks provide our customers – a clien- tele of private individuals, professionals, associations, companies, and local author- €705bn ities – with personalized solutions tailored This is the total of our customers’ to their various needs and projects, ranging savings deposits from the most mundane to the most highly (as at December 31, 2018) complex… • Banque Populaire banks, Caisses d’Epargne, Banque Palatine, Crédit Coopératif, CASDEN..
    [Show full text]
  • The History of Banks in France
    The history of banks in France Alain Plessis Some forms of progress long hindered In the Middle Ages and at the beginning of modern times, banking activities in France experienced a belated and more difficult development than in neighbouring countries such as Italy, the Netherlands or the United Provinces. The overwhelmingly precarious agriculture and a very limited participation on the international exchange scene, the dominant influence of the catholic church as well as the priests' sermons, long denouncing the practice of loaning at interest, and a very hostile mentality towards anything that resembled usury rendered all big merchants suspect and hindered the free development of their activities. Nevertheless the expansion of trade - which first began in the twelfth and thirteenth centuries through the activities of the fairs in Champagne and then through the dynamism of the commercial markets such as the large royal ports or the city of Lyons - as well as the financial needs of the royal government, all made the use of banking practices more and more indispensable. Banking methods, generally invented in Italy, arrived in France: manual exchange transactions and the use of bills of exchange for transferring funds, as well as the credit operations which developed in connection with those operations, deposits, credit transfers and various investment. The bankers in these professions, who sometimes grew quite rich, were primarily foreigners who lived cut off from the national community, especially Italians and Jews. These Italians were called Lombards; in Paris, already a banking city, the moneychangers from Piedmont set themselves up in a street which has since then been called rue des Lombards.
    [Show full text]
  • 2005 Annual Report
    2005 Annual Report Profile NATEXIS BANQUES POPULAIRES IS A MAJOR PLAYER Natexis Banques Populaires, the Banque Populaire Group’s listed entity, is a financing, investment banking and services bank and is currently developing a unique offering in receivables management. ith more than 12,900 employees and a network of 155 offices, including 117 abroad, Natexis W Banques Populaires builds long-term domestic and international partnerships with its clientele of large and medium-sized companies, financial institutions and the Banque Populaire network. Drawing on its expertise in a wide range of complemen- tary areas, Natexis Banques Populaires provides not only traditional banking services but also high value-added technology-based services. In order to meet its clients’ needs and ensure the highest quality standards, the bank offers specialist services in each of its businesses. A prominent player in financing activities, Natexis Banques Populaires maintains relationships with virtually all major French companies.Through its subsidiary Coface, it is one of the world’s leading providers of credit insurance and credit management services. At the same time, Natexis Banques Populaires is ranked among the leaders in private equity and financial engineering, and is one of the foremost brokerage firms. It also ranks among the top providers of high-tech ser- vices. Finally, it is a well-known and highly respected player in the bancassurance and asset management segments and the leading employee savings plan manager in France. NATEXIS BANQUES POPULAIRES 01 Table of contents P.01 > Profile P.04 > Chairman’s message P.05 > Chief Executive Officer’s message P.06 > Key figures 2005 01 P.08 > Natexis Banques Populaires and its shareholders P.
    [Show full text]
  • A Study in Comparative Economic History
    PRINCETON STUDIES IN INTERNATIONAL FINANCE NO. 36 The Formation of Financial Centers: A Study in Comparative Economic History Charles P. Kindlebergei INTERNATIONAL FINANCE SECTION DEPARTMENT OF ECONOMICS PRINCETON UNIVERSITY • 1974 PRINCETON STUDIES IN INTERNATIONAL FINANCE This is the thirty-sixth number in the series PRINCETON STUDIES IN INTERNATIONAL FINANCE, published from time to time by the Inter- national Finance Section of the Department of Economics at Princeton University. The author, Charles P. Kindleberger, is Ford Professor of Economics at the Massachusetts Institute of Technology. His work in economic history includes The World in Depression, 1929-1939 (1973) and Eco- nomic Growth in France and Britain, 1851-1950 (1964). He is the author of two Essays in International Finance, The Politics of Inter- national Money and World Language (No. 61, 1967) and Balance- of-Payments Deficits and the International Market for Liquidity (No. 46, 1965). This series is intended to be restricted to meritorious research stud- ies in the general field of international financial problems which are too technical, too specialized, or too long to qualify as ESSAYS. The Sec- tion welcomes the submission of manuscripts for this series. While the Section sponsors the studies, the writers are free to de- velop their topics as they will. Their ideas and treatment may.or may not be shared by the editorial committee of the Section or the mem- bers of the Department. PETER B. KENEN Director Princeton University PRINCETON STUDIES IN INTERNATIONAL FINANCE NO. 36 The Formation of Financial Centers: A Study in Comparative Economic History Charles P. Kindleberger INTERNATIONAL FINANCE SECTION DEPARTMENT OF ECONOMICS PRINCETON UNIVERSITY PRINCETON, NEW JERSEY November 1974 Copyright 0 1974, by International Finance Section Department of Economics, Princeton University Library of Congress Cataloging in Publication Data Kindleberger, Charles Poor, 1910- The formation of financial centers.
    [Show full text]
  • INSIDE the GLOBAL BANK SECTOR Kanganews’S First Annual Guide to Global Financial Institutions, with a Focus on the Australian Dollar Funding Market
    FINANCIAL INSTITUTION YEARBOOK DEC 18/JAN 19 SUPPLEMENT_VOL 13 ISSUE 110 www.kanganews.com AUSTRALASIAN FIXED INCOME: GLOBAL REACH, LOCAL EXPERTISE INSIDE THE GLOBAL BANK SECTOR KangaNews’s first annual guide to global financial institutions, with a focus on the Australian dollar funding market SPONSORED BY SUBSCRIBE TODAY current issue + supplement KangaNews is a one-stop information source on the AUD and NZD bond markets. Each issue provides all the information market participants need to keep up to date with the deals and trends making headlines in the markets; in-depth issuer and investor insights; deal and league tables; and statistics. Subscribers also have access to email updates on breaking deals and news from the KangaNewsAlert service, as well as all the data on www.kanganews.com To subscribe or request a free trial please contact Jeremy Masters t. +61 2 8256 5577 e. [email protected] KangaNews SUPPLEMENT TO DEC 18/JAN 19 EDITION VOLUME 13 ISSUE 110 www.kanganews.com Head of content and editor Contents LAURENCE DAVISON [email protected] ROUNDTABLE Senior content manager and deputy editor GLOBAL PERSPECTIVES HELEN CRAIG [email protected] ON BANK FUNDING Staff writer MATT ZAUNMAYR 12The international bank debt-issuance market is constantly [email protected] evolving. KangaNews speaks to funding executives from Editorial research assistant Asia, Australia, Europe, Japan and North America to get LUKE SWISS the latest on market conditions and outlook. Head of commercial JEREMY MASTERS 24_ [email protected] BNP Paribas 2 25_ Sales support officer MARKET NEWS YAZZY MCGUID Trends in the Australian financial Canadian Imperial Bank of Commerce [email protected] 26_ institution funding and capital space Commonwealth Bank of Australia including issuance timing patterns, an Chief executive 28_ Australian take on TLAC global-bank SAMANTHA SWISS , Commerzbank [email protected] TLAC issuance, Canadian bank supply 29_ and sustainability themed bank bonds.
    [Show full text]
  • 2E Actu DRF 2009 02
    Second registration document update and interim financial reports year ended june 30, 2010 AMF The first update to the 2009 Registration document was submitted to France’s financial market authority ( Autorité des marchés financiers - AMF ) on May 20, 2010 under N°.D.10-0169-A01. The 2009 Registration document was filed with the Autorité des marchés financiers on May 10, 2010 under N°.R.10-035. This document is an English-language translation of the French “Deuxième actualisation du document de référence” submitted to France’s financial market authority (Autorité des marchés financiers) on August 31, 2010 in compliance with Article 212-13 of the AMF’s standard regulations. Only the original French version can be used to support a financial transaction, provided it is accompanied by an Information notice “note d’opération” duly certified by the Autorité des marchés financiers. The English version of this report is a free translation from the original which was prepared in French. All possible care has been taken to ensure that the translation is an accurate presentation of the original. However, in matters of interpretation, views or opinion expressed in the original language version of the document in French take precedence over the translation. TABLE OF CONTENTS chapter 1 2010 interim management report ........................................................................................ 4 1.1. Highlights of the first half of 2010 ..........................................................................................................4
    [Show full text]
  • Citigroup in Cameroon
    Citigroup in Cameroon: Capturing Growth Opportunities in a Regional Economic Powerhouse A Capstone Project Prepared with the assistance of Professor Richard Linowes from the Kogod School of Business at American University by Brice Ngameni Spring 2012 in fulfillment of the requirements for American University's University honors designation Abstract: This examination of socio-economic trends and realities in Cameroon sheds light on the tremendous growth potential that the economic powerhouse of the Central African region presents to Citibank in a variety of sectors ranging from mobile banking, remittance transfer services, to project finance. In the wake of the financial crisis which almost brought to its knees the 200 year-old financial institution, Citibank has engaged in profound soul-searching, seeking to define a strategy in line with its core competitive advantage. This competitive advantage lies primarily in the unmatched global reach of its branch network and wide array of proprietary applications. To leverage these assets requires a somewhat bolder approach towards banking opportunities in Africa in general, and Cameroon in particular. This paper prescribes a number of actionable recommendations to position Citibank as major player in the relatively unchartered banking landscape of Cameroon. Ngameni 2 Memorandum To: Professor Richard Linowes From: Brice Ngameni Date: 5/21/2012 Re: Citigroup in Cameroon: Capturing Growth Opportunities in a Regional Banking Hub About Cameroon: Cameroon is a West African country located on the gulf of Guinea. It is bordered to the South by the republics of Gabon, Equatorial Guinea and Congo; to the North by Nigeria and to the East by Chad and the Central African Republic (CAR).
    [Show full text]
  • Annual Report and Accounts 2009
    HSBC France Annual Report and Accounts 2009 www.hsbc.fr The HSBC Group CCF joined the HSBC Group in July 2000 and changed its legal name to HSBC France on 1 November 2005. Headquartered in London, HSBC is one of the largest banking and financial services organisations in the world. Its international network comprises around 8,000 offices in 88 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With listings on the London, Hong Kong, New York, Paris and Bermuda stock exchanges, shares in HSBC Holdings plc are held by over 220,000 shareholders in 121 countries and territories. HSBC provides a comprehensive range of financial services and serves around 100 million customers through two customer groups: Personal Financial Services and Commercial Banking; and two global businesses: Global Banking and Markets, and Private Banking. In 2009, HSBC’s profit before tax was USD 7,079 million and USD 13.3 billion on an underlying basis and excluding goodwill impairment. Profit attributable to shareholders of the parent company was USD 5,834 million. Total assets were USD 2,364 billion at 31 December 2009. Geographical distribution of results – Profit before tax: Year ended 31 December 2009 USDm % Europe 4,009 56.7 Hong Kong 5,029 71.0 Rest of Asia-Pacific 4,200 59.3 Middle East 455 6.4 North America (7,738) (109.3) Latin America 1,124 15.9 Profit before tax 7,079 100.0 This Reference Document was registered with the Autorité des Marchés Financiers on 29 April 2010 in accordance with Article 212-13 of the AMF General Regulation.
    [Show full text]