...Medium-Sized Franchise in France: Credit Mutuel Arkea's (CM Arkea) ratings primarily reflect the bank's medium-sized bancassurance company profile essentially operating in France, its sound asset quality and moderate but resilient earnings. The ratings also reflect the bank's solid capitalisation as well as stable funding and liquidity. Mutual Support Mechanism: We consider Credit Mutuel Arkea S.A.C.C.V. (CM Arkea S.A.C.C.V.) and its affiliated local banks as being part of a mutual support mechanism, as referred to in Annex 4 of its Bank Rating Criteria. The entities share a common strategy, brand and marketing, have centralised risk management and are viewed by regulators as a single unit based on consolidated accounts. Our ratings do not reflect CM Arkea's current membership in Credit Mutuel as CM Arkea is following a strategy to become independent from Credit Mutuel. Significant Market Share in Home Regions: Although CM Arkea is a relatively small player nationwide, with market shares...
