Press release – Excellent 2024 financial performance reflecting a thriving dynamic

Strong financial performance despite major uncertainties

• Increase in recurring net banking income to EUR 217 million (+9.6% vs 2023) driven by a very sustained activity level since 2023 despite the higher refinancing costs 
• Operating expenses under control stable vs 2023,  and an improved cost to income ratio at 54% (-6 points vs 2023)
• Excellent quality of asset portfolio illustrated by a reversal in cost of risk, a non-performing exposures rate at 0.26% and a 0% weighting (standard approach) for 84% of the asset portfolio
• Strong growth in recurring net result (+15% vs 2023) illustrating the performance of our public development bank model
• CET1 ratio at 42.2% (vs 8.56% minimal requirement)
• Robust liquidity with LCR and NSFR ratios of 440% and 125% respectively, with a good execution of the funding programme attracting more than 300 investors

Key role in financing the French local public sector

• Record level of EUR 6.3 billion (+46 % vs 2023) driven by local authorities with EUR 5.8 billion of loans granted (+45% vs 2023)
• More than EUR 2 billion of green and social loans to local authorities for the first time since these offers were launched
• EUR 518 million loans to public hospitals (+61% vs 2023) with a moderated recovery in  investment under a very tight budgetary context
• Expected growth in local investment in 2025 with public initiatives to accelerate climate investments from local authorities and to broaden the activity in the long-term

Confirmed dynamism for export credit refinancing

• 5 transactions for a total amount of EUR 2.4 billion of loans granted (vs EUR 5 billion in 2023)
• “Deal of the year Central Asia 2023” award at the TXF Global export forum in June 2024
• Very positive business outlook supported by 175 deals under assessment for nearly EUR 65 billion
• Refinancing ofOperations guaranteed by European export credit agencies and multilateral lenders from 2025

Significant ESG realizations

• EUR 1.8 billion in favour of ecological and energy transition
• EUR 1.4 billion of social loans to public hospitals and French local authorities
• 1/3 of funding raised under  green or social bonds
• Climate and environmental rating tools for the assessment of the loan portfolio

Following the Board meeting on 12 February 2025, Philippe Mills, Chief Executive Officer of Sfil, stated, “We achieved an outstanding performance in 2024 considering the disturbed environment. This year, along with 2023, marks a turning point, as from now we inject an average EUR 9 billion a year into the French economy. Extending our scope of intervention will enable us to strengthen our impact. I thank our clients and investors for their trust and constant support as well as our employees for their commitment to Sfil.”

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