Operational structure

A bank wholly-owned by French public sector institutions

Sfil is a wholly publicly-owned bank. The French government is the principal shareholder, with a 75% stake in its capital, the remainder being owned by Caisse des Dépôts et Consignations (20%) and La Banque Postale (5%).

Key points to remember

⇒ Scope of business exclusively limited to French local public sector
⇒ Sfil acts as service provider to LBP and Caffil
⇒ Loans originated by LBP at the going market rate, no subsidization
⇒ Loans transferred via true sale from LBP to Caffil, after Caffil
credit approval
⇒ Loans refinanced via the issuance of Obligations Foncières by Caffil
⇒ Credit risk analyzed by Caffil in the origination process and again at the final stage



Last update 06/03/2023