SFIL: insider trades · France · AMF

About SFIL

SFIL is a public financing institution focused on lending to French local authorities, the local public sector and export-credit transactions backed by the French state. The group was created in the context of the restructuring of the French banking landscape, following the separation and transfer of activities previously linked to Société de financement local and Dexia Crédit Local. Its purpose was to provide a stable, long-term refinancing platform for activities considered strategic to the national economy. With a public shareholder base and a conservative prudential framework, SFIL occupies a distinctive position in French banking, with a mandate centered on the public interest and financial sovereignty. SFIL’s business model is built around two core pillars. First, it finances the French local public sector, mainly through long-dated loans to local governments, hospitals and public entities, either directly or via banking partners. Second, it operates in export credit, where SFIL acts as a lead lender on strategic international transactions, particularly in industry, energy and defense. In 2025, the group demonstrated strong execution, issuing €9.2 billion of debt, granting €5.3 billion of financing to local authorities and executing €3.6 billion of export-credit transactions, while reporting a record net profit of €96 million. SFIL is also notable for its funding strength in capital markets. The group regularly issues large-scale bonds, including social, green and sustainability formats, to refinance its assets and support projects with measurable impact. This funding capability has earned it a recognized profile among international investors, supported by a diversified investor base. The group has also strengthened its ESG positioning through thematic issuance and financing linked to energy transition and essential public services. Geographically, SFIL is primarily active in France, but its export-credit franchise gives it an international footprint through major industrial and infrastructure projects abroad. The group has notably been involved in transactions linked to the nuclear value chain, illustrating its role in supporting French industrial ecosystems. Its scope therefore ranges from local public-sector financing to large cross-border transactions, reinforcing its role as a hybrid institution between a development-oriented public bank and a market-based financing platform. Overall, SFIL can be viewed as a specialized but strategically important financial institution, with a controlled risk profile, clear mission orientation and strong visibility over its funding and lending activities. Its unique positioning in local public-sector finance and export credit makes it a meaningful contributor to French financial sovereignty while maintaining efficient access to capital markets.