Caisse Centrale du Crédit Immobilier de France
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2016 Results Show that Crédit Immobilier de France has Taken Up the Challenges
The Group's common equity Tier 1 ratio at year end 2016 increased and reached 13,8% exceeding the minimum mentioned in th Protocol signed by the Republic of France. Furthermore, at their Meeting held on 31 May, the shareholders voted to renew for another six year period the terms of the Board members (nine out of eleven) that had expired. A the close of the Meeting, the Board of Directors voted to reappoint Yannick Borde as its chairman, and to reappoint for six year terms Jerôme Lacaille and Thierry Gillouin respectively as Chief Executive Officer and Deputy Chief Executive Officer.
Crédit Immobilier de France sets the timetable and conditions for a complete restructuring of its office network and undertakes a major collaboration with MCS to save jobs and complete its extinctive management under secure conditions.
"AA2" is the 3CIF's new long term Moody's rating
This decision follows Moody's downgrading France's long term rating to "AA2" released on the18th September.
The Board of Directors of CIFD closed the consolidated books of Crédit Immobilier de France Group for 2014.
The Group's solvency ratio at year-end 2014 stood at 12.8% exceeding the minimum mentioned in the Protocol signed with the Republic of France. Furthermore, at its meeting on 21 April 2015, the Board of Directors terminated the appointment of François Morlat as Chief Executive Officer of CIFD and designated Deputy Chief Executive Officer Thierry Gillouin to replace him on an interim basis. The Board of Directors reaffirmed the implementation of the orderly resolution plan, mandated by the European Commission on 27 November 2013, as its objective.