Our institution, Agence France Locale, is not a financial institution like any other.
It has a single purpose:
“To embody responsible finance to strengthen the power of action of the local world in order to meet the present and future needs of residents.”
Created by and for local authorities, it acts for the local world, to strengthen our freedom, our ability to develop projects and our responsibility as public actors.
Decentralization, defending it is good, implementing it is better!
A unique governance model:
AFL Group’s governance is based on a two-tier structure, ensuring a separation of powers between the specialized credit institution, Agence France Locale (AFL), and its parent company, Société Territoriale (AFL-ST).
The main objectives of a two-tier structure:
– Define the strategy and implement it, review it regularly and monitor its implementation;
– Prevent the risk of conflicts of interest with local authorities that are both shareholders and borrowers;
– Ensuring accountability of all stakeholders through control mechanisms;
– Ensuring that the strategic decisions taken by the Société Territoriale and the operational management carried out by the credit institution subsidiary are kept separate.
The Société Territoriale (AFL-ST)
The Société Territoriale (AFL-ST) is the financial holding company.
Its shareholding :
100% owned by municipalities, departments, regions, public establishments of inter-municipal cooperation (with or without their own tax status), territorial public establishments and local public establishments.
– Representing the shareholders;
– Steering the guarantee mechanism;
– Appointing the members of the Supervisory Board of the specialized credit institution;
– Setting the major strategic orientations and the risk appetite framework;
– Promoting the model, jointly with AFL, to local authorities with a view to increasing the number of shareholder members.
The composition of the AFL-ST Board of DirectorsBoard of Directors' rules of procedure [FR]
Board of directors president, Supervisory board vice-president
Board of directors vice-president, Supervisory board president
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The Société Territoriale general management
AFL-ST General manager
AFL-ST Deputy general manager
Françoise Clech Del Tedesco
Director of development and territorial transitions
Agence France Locale (AFL) is a specialized credit institution.
Its shareholding :
Over 99.9% owned by the Société Territoriale.
– Granting loans exclusively to shareholder local authorities;
– Raising funds on the capital markets;
– The daily operational management of financial activities.
The composition of AFL Supervisory BoardSupervisory Board' rules of procedure [FR]
Supervisory board president, Board of directors vice-president,
Supervisory board vice-president, Board of directors president
Discover the full composition of AFL Supervisory Board
The Executive board
Chairman of the Executive Board
Head of Commitments
and Risks, Climate and sustainable finance
Chief financial officer
Director of membership and credit
What does being a shareholder mean?
Participate in the General Meeting of Shareholders: decide on major orientations, vote on amendments to the articles of association, approve the accounts.
Elect our representatives to the Board of Directors, which is 100% composed of local elected officials. Each local authority even the smallest, has at least one vote in the election process.
Contribute to a governance model that allows for transparency and fairness in a model built on solidarity.
Benefit from the bank’s positive results: as AFL is owned by the local authorities, every euro earned can be invested for the benefit of the business or redistributed to shareholders.
Have access to dedicated expertise from AFL’s teams in financial health (barometer), energy transition financing, sustainable finance, etc.