Abstract
Our thesis, entitled “Valuating transformation through net interest margin and asset-liability matching: the case of CFM”, proposes the optimization of the risk-adjusted performance of transformation thanks to interest risk management. The goal of our thesis is to evaluate the transformation in banking, and more particularly in Crédit Foncier of Monaco (CFM), which is a private bank and a subsidiary of Calyon, investment banking of Crédit Agricole. The transformation of deposits into loans is the core business of banking because this process generates a net interest margin in the profit and loss statement (P&L) but engenders financial risks reflected by the asset-liability mismatches in the balance-sheet (B/S).
