AFL reinforces its model with a very strong balance sheet and results

First half-year 2023 results

After the meetings of the Supervisory Board of Agence France Locale and the Board of Directors of Agence France Locale – Société Territoriale, on September 25, 2023, Sacha Briand, Chairperson of AFL’s Supervisory Board, and Yves Millardet, Chairperson of the Management Board, commended “a record-breaking first half of the year in terms of results, driven particularly by the doubling of loan origination compared with the same period last year”.

AFL reinforces its model with a very strong balance sheet and results and keeps its promise to its member authorities by continuing to increase its lending on competitive terms.

AFL Group announces a strong improvement in its results:

AFL Group announces a strong improvement in its results:

  • The highest gross operating income recorded by AFL Group over one half-year since it was created
  • The doubling of consolidated net income compared with the first half of 2022
  • A 69% rise in the net interest margin versus the first half of 2022
  • Strong increase in loan origination to €525 million
  • Solvency ratio stable at 15%
650
Member local authorities
€274 million
Pledged capital
€1,711 million
Funding raised on capital markets
€12,940K
Net interest margin
€3,868 K
Gross operating income
€2, 840K
Net income after tax
68,2%
Cost/income ratio
15%
Solvency ratio

Find more details about our results