The public bank SFIL (Local Finance Company) had the best year in its short history last year, almost doubling its net profit to 76 million euros, according to a financial press release published on Monday.
This performance illustrates the relevance of its model as a public development bank and the pivotal nature of its role as leading financier in its two activities: the financing of the French local public sector and the refinancing of major export credit contracts. indicated in the document.
In 2020, SFIL posted 44 million euros in net income.
SFIL claims a market share of around 20% for the financing of French local authorities and around 40% for the refinancing of major export credits.
The public bank took the opportunity to announce a development plan presented as ambitious, including a 20% increase in funding granted to hospitals by 2024 or the development of actions to promote sustainable investments with local authorities.
SFIL is part of the large public financial cluster, born in early 2020 and placed under the aegis of the Caisse des Dépts, alongside La Banque Postale and the insurer CNP Assurances.
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Created in February 2013, SFIL was born out of the setbacks of the Franco-Belgian bank Dexia, which was almost bankrupt after the financial crisis.
The latter is now managed in run-off: it manages its portfolio until the residual assets disappear, contenting itself with completing its existing commitments without taking on new ones.
Dexia also posted a deadweight loss of 334 million euros in 2021, according to a press release published on March 11, and its balance sheet fell below the 100 billion euro mark for the first time, noted its managing director Pierre Crevits. .