Examples of BFCM Group in a sentence
CM11 Group, which consists of the cooperative sector and BFCM Group, is controlled by 11 Crédit Mutuel federations: Centre Est Europe, du Sud-Est, Île-de-France, Savoie-Mont Blanc, Midi- Atlantique, Loire-Atlantique et Centre-Ouest, du Centre, Normandie, Dauphiné-Vivarais, Méditerranéen and Anjou.
The restructuring was intended to clarify the functions performed by the BFCM Group’s various entities by distinguishing the cooperative activities of BFCM’s parent entities , being the local cooperative banks, CF de CM and the 11 federations, from the diversified operations of BFCM.BFCM owns and coordinates the activities of its subsidiaries within the BFCM Group.
CF de CM, and the Crédit Mutuel local and regional cooperative banks of the 11 federations control BFCM, owning 93% and 5.1%, respectively, of the BFCM’s share capital.I.1.2 - BFCM GroupThe current configuration of the BFCM Group is the result of restructuring operations carried out in 1992.
The BFCM GroupThe BFCM Group consists of:- BFCM, the parent company of the BFCM Group, which also carries out financing and capital markets activities ;- CIC, the parent company of the CIC Group and lead bank for the branch network, which is also a regional bank in the Ile-de-France region and carries out investment, financing and capital markets activities ; and- specialized institutions by business line in France and abroad.
The adjustments and their impact on each of the Group and the BFCM Group are described in note 1.1 to each of the Group’s and the BFCM Group’s audited consolidated financial statements as at and for the year ended 31 December 2012.
The consolidated financial statements of the BFCM Group have been prepared in accordance with International Financial Reporting Standards, as adopted in the European Union, and have been audited by Ernst & Young et Autres and PricewaterhouseCoopers France.
Certain financial information regarding the BFCM Group and/or the Group presented herein constitute non- GAAP financial measures, which exclude certain items contained in the nearest IFRS financial measure or which include certain amounts that are not contained in the nearest IFRS financial measure.
Certain financial information regarding the BFCM Group and/or the Crédit Mutuel Alliance Fédérale presented herein or in the documents incorporated by reference herein constitutes non-GAAP financial measures, which exclude certain items contained in the nearest IFRS financial measure or which include certain amounts that are not contained in the nearest IFRS financial measure.
Selected Consolidated Balance Sheet Data of the BFCM Group (1) The information as of December 31, 2018 and thereafter was prepared in accordance with IFRS 9 on financial instruments.
Restatement of the 2011 Consolidated Financial Information The financial information for the Group and the BFCM Group as at and for the year ended 31 December 2011, presented in the audited consolidated financial statements of the Group and the BFCM Group as of and for the year ended 31 December 2012, has been restated to account for the application of IAS 19 as well as for the correction of an error with respect to the accounting treatment of the investment in Banco Popular Español (BPE).