Natixis — Groupe BPCE — Q3 2023 Earnings Presentation
73 slides from Natixis's earnings presentation, Nov 1, 2023
Slide 1: Results for the 3rd quarter and first 9 months of 2023
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Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements and comments relating to This financial information is not the equivalent of summary financial statements for the objectives and strategy of Groupe BPCE. By their very nature, these forward- an interim period as defined by IAS 34 “I
Slide 3: Robust commercial performance; very tight cost control; organic capital creation of 20 bps
Robust commercial performance; very tight cost control; organic capital creation of 20 bps driven by earning generation DEVELOPMENTS PERFORMANCE STRENGTHS RB&I Net revenues €16.7bn in 9M-23 High level of solvency Strong commercial performance achieved by BP & CE NBI at €5.5bn in Q3-23, stable networ
Slide 4: Groupe BPCE results
01 Groupe BPCE results Capital and liquidity Business line results Conclusion
Slide 5: Results: reported net banking income
Results: reported net banking income RETAIL BANKING & INSURANCE in €m GLOBAL FINANCIAL SERVICES in €m (9)% (13)% 12,363 +2% 10,299 11,267 8,930 5,247 5,356 +8% x2 (1)% +7% (4)% at constant scope(1) 939 487 2,824 3,029 873 694 2,423 2,328 237 617 BP & CE networks FSE Insurance Digital & RB&I CIB AWM
Slide 6: Results: reported operating expenses
Results: reported operating expenses OPERATING EXPENSES in €m -2% 7 98 12,405 20 4 (29) (56)(1) (85) 12,199 (27) (139) 9M-22 BP & CE FSE Insurance Digital & Other network AWM CIB Corporate SRF 9M-23 networks Payments center contribution Tight cost control across all businesses while on-going investm
Slide 7: Results: reported cost of risk/asset quality
Results: reported cost of risk/asset quality Stage 3 COST OF RISK TOTAL PROVISIONS(2) (in €bn) Stage 1/Stage 2 Decrease in the overall In bps(1) cost of risk, thanks to 21 17 21 16 reversals of "Stage 1/Stage 14 14.3 14.2 10 13.5 13.8 2" provisions after 3 years 12 RB&I 11 24 21 10 20 12.9 of high l
Slide 8: Results: reported Group P&L
Results: reported Group P&L % Change % Change €m Q3-23 Q3-22 9M-23 9M-22 vs. Q3-22 vs. 9M-22 Revenues at €16.7bn in 9M-23, down 8% Net banking income 5,455 5,934 (8)% 16,736 18,115 (8)% vs. 9M-22 and at €5.5bn in Q3-23, stable QoQ and down 8% YoY Operating expenses (3,812) (3,916) (3)% (12,199) (12,
Slide 9: Capital and liquidity
Groupe BPCE results Capital and liquidity Business line results Conclusion
Slide 10: Capital and Loss-absorbing Capacity
Capital and Loss-absorbing Capacity CHANGE IN THE CET 1 RATIO (in bps) Actual level Requirements as at September 30, September 30, 2023 2023(1) +20bps +3bps +1bp 15.4%(1) 15.2% CET1 ratio 9.98%(3) 15.4% (4)bps (ECB) Total capital 13.98%(3) 18.2% ratio (ECB) CET1 ratio at Earnings Change in Issuance
Slide 11: Liquidity: 106% of 2023 MLT funding plan completed
Liquidity: 106% of 2023 MLT funding plan completed(1), allowing the start of pre-funding for 2024 / good currency mix 2023 MLT WHOLESALE FUNDING PLAN Structure of MLT wholesale funding raised in 2023(1,3) Target: €29bn(2) / Raised(1,2): €30.8bn or 106% ▪ TLAC funding Unsecured bond issues 36% Target
Slide 12: Business line results
Groupe BPCE results Capital and liquidity Business line results Conclusion
Slide 13: Retail Banking & Insurance: Banques Populaires
Retail Banking & Insurance Banques Populaires LOAN OUTSTANDINGS in €bn PRODUCTION 9M-23 vs. 9M-22 24 12 Residential mortgages 61,200 new professional customers(1) YTD (51)% In €bn +3% Loan outstanding YoY : residential 295 303 mortgages +3% and equipment loans +5% 3.1% +1.7pp Average rate (%) 1.3% 4
Slide 14: Retail Banking & Insurance: Caisses d'Epargne
Retail Banking & Insurance Caisses d’Epargne LOAN OUTSTANDINGS in €bn PRODUCTION 9M-23 vs. 9M-22 31 340,500 new individual customers(1) YTD; 20 (37)% Residential mortgages +4% In €bn 7 millions of principal active customers 355 369 +1.9pp Average rate (%) Loan outstandings YoY : residential 3.2% 1.4
Slide 15: Retail Banking & Insurance: Financial Solutions & Expertise
Retail Banking & Insurance Financial Solutions & Expertise % % BREAKDOWN OF REVENUES PER BUSINESS LINE in 9M-23 €m(1) Q3-23 Change 9M-23 Change Net banking income 318 11% 939 8% Consumer credit 3% 8% Operating expenses (154) 5% (463) 4% Factoring 24% Gross operating income 164 17% 477 11% Leasing 13
Slide 16: Retail Banking & Insurance: Insurance
Retail Banking & Insurance Insurance(1) LIFE INSURANCE AuM(2) in €bn PREMIUMS(2) in €bn 9M-23 strong net revenue growth driven by strong commercial 1.1 momentum 3.9 +14% 2.8 2.4 (15)% 11.9 0.4 10.5 +6% +3% Life insurance AuM(2): +6% vs. end- 89.1 December 2022 driven by a 83.7 +15% significant posit
Slide 17: Retail Banking & Insurance: Digital & Payments
Retail Banking & Insurance Digital & Payments DIGITAL 11.1 million customers active on mobile apps at end-September 2023 (+9% vs. September 2022) among 13.3 million digital customers active (+5% vs. September 2022) % Change % Change €m(1) Q3-23 at constant 9M-23 at constant scope(2) scope(2) App Sto
Slide 18: Retail Banking & Insurance: Business Line P&L
Retail Banking & Insurance Business Line P&L BP and CE launched new offers for people under the age of 35 to boost their real estate purchasing power through schemes to complement the PTZ (zero-interest loan propose by French €m(1) Q3-23 % Change 9M-23 % Change government) Net banking income 3,721 (
Slide 19: Global Financial Services: Corporate & Investment Banking
Global Financial Services Corporate & Investment Banking Revenues up 7% in 9M-23 YoY NET REVENUES(1) in €m GLOBAL MARKETS 3,029 Equity revenues: €480m, up 14% YoY driven by the strong performance of 2,824 1,038 1,022 131 global equity notably distributed through Groupe BPCE retail networks 898 968 3
Slide 20: Global Financial Services: Asset & Wealth Management
Global Financial Services Asset & Wealth Management ASSETS UNDER MANAGEMENT(1) in €bn AuM: reached €1,114bn up 3% YTD, with positive market effect Other affiliates Private assets AM flows(1): net inflows reached €5.1bn in 9M-23 (excl. life 1,114 insurance and MMF) with a rebalancing from equity to F
Slide 21: Global Financial Services: Business Line P&L
Global Financial Services Business Line P&L Constant Constant €m(1) Q3-23 % Change Fx % 9M-23 % Change Fx % change change CIB Net banking income 1,736 2% 6% 5,356 2% 3% Net revenues reached €3bn in 9M-23 up 7% YoY thanks to diversification and driven by the strong performance of o/w AWM 768 (4)% 1%
Slide 22: Conclusion
Groupe BPCE results Capital and liquidity Business line results Conclusion
Slide 23: Conclusion
Conclusion • Solid commercial performance in RB&I: SUSTAINED >730,000 new customers(1) YTD across all segments COMMERCIAL • Ongoing asset repricing DEVELOPMENT • Strong commercial activity in CIB across Global Markets, Global Trade, Investment Banking & M&A ONGOING FOCUS • Very tight control of oper
Slide 24: Annexes
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Slide 25: Content
Content Consolidated results of Groupe BPCE Retail Banking & Insurance • Notes on methodology • Income statement and quarterly series • Reconciliation of reported data to pro forma data • Banque Populaire and Caisse d’Epargne – quarterly series • Income statement: reconciliation of reported data to
Slide 26: Notes on methodology (1/4)
Notes on methodology (1/4) • IFRS 17 provides for the estimation at inception of the Contractual Presentation of the pro -forma quarterly results Service Margin (CSM) of a group of insurance contracts recognized in • The main pro-forma restatement concerns the transition to IFRS 17. the balance shee
Slide 27: Notes on methodology (2/4)
Notes on methodology (2/4) Creation of the Digital & Payments division Net banking income • The Payments and Oney business lines have been brought together • Customer net interest income, excluding regulated home savings within a single Digital & Payments division. schemes, is computed on the basis
Slide 28: Notes on methodology (3/4)
Notes on methodology (3/4) Cost of risk Total loss-absorbing capacity • The cost of risk is expressed in basis points and measures the level of The amount of liabilities eligible for inclusion in the numerator used to risk per business line as a percentage of the volume of loan calculate the Total L
Slide 29: Notes on methodology (4/4)
Notes on methodology (4/4) Liquidity Business line indicators – BP & CE networks Total liquidity reserves comprise the following: Average rate (%): the average customer rate for home loans corresponds • Central bank-eligible assets include: ECB-eligible securities not eligible to the weighted averag
Slide 30: Reconciliation of Q1-22 data to pro forma data
Reconciliation of Q1-22 data to pro forma data Groupe BPCE Q1-22 Net banking Operating Cost of Share in net income Gains or losses Income Net income In millions of euros income expenses risk of associates on other assets before tax - Group share Reported figures 6,575 (4,961) (424) 17 37 1,244 785 I
Slide 31: Reconciliation of Q2-22 data to pro forma data
Reconciliation of Q2-22 data to pro forma data Groupe BPCE Q2-22 Net banking Operating Cost of Share in net income Gains or losses Income Net income In millions of euros income expenses risk of associates on other assets before tax - Group share Reported figures 6,569 (4,250) (457) 15 10 1,886 1,329
Slide 32: Reconciliation of Q3-22 data to pro forma data
Reconciliation of Q3-22 data to pro forma data Groupe BPCE Q3-22 Net banking Operating Cost of Share in net income Gains or losses Income Net income In millions of euros income expenses risk of associates on other assets before tax - Group share Reported figures 6,309 (4,258) (347) 15 14 1,732 1,288
Slide 33: Reconciliation of Q4-22 data to pro forma data
Reconciliation of Q4-22 data to pro forma data Groupe BPCE Q4-22 Net banking Operating Cost of Share in net income Gains or losses Income Net income In millions of euros income expenses risk of associates on other assets before tax - Group share Reported figures 6,252 (4,608) (772) (22) 275 885 549
Slide 34: Reconciliation of 2022 data to pro forma data
Reconciliation of 2022 data to pro forma data Groupe BPCE 2022 Net banking Operating Cost of Share in net income Gains or losses Income Net income In millions of euros income expenses risk of associates on other assets before tax - Group share Reported figures 25,705 (18,077) (2,000) 24 336 5,748 3,
Slide 35: Q3-23 & Q3-22 results: reconciliation to alternative performance measures
Q3-23 & Q3-22 results: reconciliation of reported data to alternative performance measures Gains or Net banking Operating Cost of Income Net income €m losses on income expenses risk before tax - Group share other assets Reported Q3-23 results 5,455 (3,812) (319) 1 1,339 917 Business lines/Corporate
Slide 36: 9M-23 & 9M-22 results: reconciliation to alternative performance measures
9M-23 & 9M-22 results: reconciliation of reported data to alternative performance measures Gains or Net banking Operating Cost of Income Net income €m losses on income expenses risk before tax - Group share other assets Reported 9M-23 results 16,736 (12,199) (988) 51 3,644 2,423 Business lines/Corpo
Slide 37: Groupe BPCE: underlying cost to income ratio excluding SRF
Groupe BPCE: underlying cost to income ratio excluding SRF Underlying Net banking Operating €m cost income ratio income expenses excluding SRF Q3-23 reported figures 5,455 (3,812) Impact of exceptional items 1 (55) SRF contribution 0 Q3-23 underlying figures excluding SRF 5,454 (3,758) 68,9% Underly
Slide 38: Groupe BPCE: underlying cost to income ratio excluding SRF
Groupe BPCE: underlying cost to income ratio excluding SRF Underlying Net banking Operating €m cost income ratio income expenses excluding SRF 9M-23 reported figures 16,736 (12,199) Impact of exceptional items 94 (159) SRF contribution 457 9M-23 underlying figures excluding SRF 16,641 (11,583) 69,6
Slide 39: Groupe BPCE: quarterly income statement per business line
Groupe BPCE: quarterly income statement per business line RETAIL BANKING GLOBAL FINANCIAL CORPORATE GROUPE & INSURANCE SERVICES CENTER BPCE €m Q3-23 Q3-22 Q3-23 Q3-22 Q3-23 Q3-22 Q3-23 Q3-22 % Net banking income 3,721 4,057 1,736 1,694 (3) 183 5,455 5,934 (8) % Operating expenses (2,358) (2,413) (1,
Slide 40: Groupe BPCE: 9-month income statement per business line
Groupe BPCE: 9-month income statement per business line RETAIL BANKING GLOBAL FINANCIAL CORPORATE GROUPE & INSURANCE SERVICES CENTER BPCE €m 9M-23 9M-22 9M-23 9M-22 9M-23 9M-22 9M-23 9M-22 % Net banking income 11,267 12,363 5,356 5,247 113 506 16,736 18,115 (8) % Operating expenses (7,313) (7,367) (
Slide 41: Groupe BPCE: quarterly series
Groupe BPCE: quarterly series GROUPE BPCE €m Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Net banking income 6,149 6,032 5,934 5,844 5,815 5,467 5,455 Operating expenses (4,585) (3,904) (3,916) (4,233) (4,587) (3,799) (3,812) Gross operating income 1,564 2,128 2,019 1,611 1,228 1,667 1,642 Cost of risk
Slide 42: Consolidated balance sheet
Consolidated balance sheet ASSETS September LIABILITIES September Dec. 31, 2022 Dec. 31, 2022 €m 30, 2023 €m 30, 2023 Cash and amounts due from central banks 150,037 171,318 Amounts due to central banks 17 9 Financial assets at fair value through profit or Financial liabilities at fair value through
Slide 43: Statement of changes in shareholders' equity
Statement of changes in shareholders' equity Equity attributable to €m shareholders’ equity December 31st, 2021 78,884 Impact of changes relating to the first-time application of IFRS 17 (842) Impact of changes relating to the first-time application of IFRS 9 to insurance 253 activities January 1st,
Slide 44: Financial structure: changes in regulatory capital and fully-loaded ratios
Financial structure: changes in regulatory capital and fully-loaded ratios Regulatory capital (in €bn) 82.4 83.3 Sept. 30, 2023 Dec. 31, 2022 12.7 12.9 Tier-2 capital €bn Equity attribuable to shareholders’ equity 83.9 82.1 28.7 29.3 Cooperative shares Cancelation of hybrid securities in equity CET1
Slide 45: Financial structure: distance to MDA
Financial structure: distance to MDA Capital Capital Countercyc Sectoral G- Pillar I Pillar II conservation G-SIB Countercyclical Pillar I Pillar II conservation G-SIB lical buffer SIB buffer Jan. 1, 2023 requirement requirement buffer buffer buffer (CCyB) Total September 30, 2023 requirement requir
Slide 46: Financial structure: prudential ratios and credit ratings
Financial structure: prudential ratios and credit ratings Sept. 30, 2023(1) Dec. 31, 2022 Dec. 31, 2021 Long-term SENIOR PREFERRED credit ratings (November 8, 2023) Total risk-weighed assets €457bn €461bn €441bn A+ Common Equity Tier-1 stable outlook €70.5bn €69.7bn €69.8bn capital Tier-1 capital €7
Slide 47: TLAC / MREL ratio
TLAC / MREL ratio TLAC(1,2) RATIO (as a % of risk-weighted assets) MREL(1,2) RATIO (as a % of risk-weighted assets) 32.4% Eligible Senior Preferred debt 7.7% 24.7% 25.5% 22.0% Senior Non-Preferred 5.6% Senior Non-Preferred 5.6% 3.7% 3.7% Tier 2 Tier 2 CET1 CET1 15.4% 15.4% 2023 TLAC Sept. 30, 2023 2
Slide 48: Risk-Weighted Assets
Risk-Weighted Assets BREAKDOWN PER BUSINESS LINE (in €bn) BREAKDOWN PER TYPE OF RISK(1) (in €bn) 461 457 461 457 9% 9% 8% 9% Other 3% 3% Operational Risk 20% 19% Global Financial Services Market Risk Retail Banking & 88% 88% Insurance Credit Risk 72% 72% Dec. 31, 2022 Sept. 30, 2023 Dec. 31, 2022 Se
Slide 49: Leverage ratio
Leverage ratio €bn Sept. 30, 2023(1) Dec. 31, 2022 Tier-1 capital 70.5 69.7 Balance sheet total(2) 1,537.2 1,530.5 Prudential restatements (101.2) (127.0) Prudential balance sheet total(2) 1,436.0 1,403.5 Adjustments related to exposure to derivates (3) (25.0) (26.3) Adjustments related to security
Slide 50: Financial conglomerate
Financial conglomerate Financial conglomerate FINANCIAL CONGLOMERATE RATIO CRR/CRD IV(2) Restatements viewpoint viewpoint +5.1 Banking CR (1) (CRR/CRD IV) Regulatory capital + Total capital 88.4 Insurance CR(1) (Solvency 2) (in €bn) 83.3 RESTATEMENTS APPLIED - 1 2 3 +4.8 72.6 Shift from a Cancellati
Slide 51: Liquidity reserves and short-term funding
Liquidity reserves and short-term funding TOTAL LIQUIDITY RESERVES OF GROUPE BPCE(1) SHORT-TERM FUNDING AND MLT DEBT MATURING IN (in €bn) THE SHORT TERM (in €bn) Coverage ratio of short-term funding + MLT debt (2) maturing in the short-term by liquidity reserves 335 323 322 178% 289 158% 150% 147% 1
Slide 52: Non-financial ratings
Non-financial ratings RANKINGS - RATING + A- Top 21% banks worldwide D- C B A- A C Prime « C Prime » status – 1st decile of world banks(1) D- D+ C- C A+ 62/100 Top 3% banks worldwide(2) 0 30 50 60 100 AA Top 34% banks worldwide(3) CCC B BB BBB A AA AAA 18.7 Top 19% banks worldwide(4) >40 30 20 10 0
Slide 53: Retail Banking & Insurance: quarterly income statement
Retail Banking & Insurance: quarterly income statement BANQUE POPULAIRE CAISSE D'EPARGNE FINANCIAL SOLUTIONS & RETAIL BANKING & INSURANCE DIGITAL & PAYMENTS OTHER NETWORK NETWORK NETWORK EXPERTISE INSURANCE €m Q3-23 Q3-22 % Q3-23 Q3-22 % Q3-23 Q3-22 % Q3-23 Q3-22 % Q3-23 Q3-22 % Q3-23 Q3-22 % Q3-23
Slide 54: Retail Banking & Insurance: 9-month income statement
Retail Banking & Insurance: 9-month income statement BANQUE POPULAIRE CAISSE D'EPARGNE FINANCIAL SOLUTIONS & RETAIL BANKING & INSURANCE DIGITAL & PAYMENTS OTHER NETWORK NETWORK NETWORK EXPERTISE INSURANCE €m 9M-23 9M-22 % 9M-23 9M-22 % 9M-23 9M-22 % 9M-23 9M-22 % 9M-23 9M-22 % 9M-23 9M-22 % 9M-23 9M
Slide 55: Retail Banking & Insurance: quarterly series
Retail Banking & Insurance: quarterly series RETAIL BANKING & INSURANCE Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 €m Net banking income 4,205 4,101 4,057 3,835 3,891 3,655 3,721 Operating expenses (2,481) (2,473) (2,413) (2,637) (2,496) (2,459) (2,358) Gross operating income 1,724 1,628 1,644 1,198
Slide 56: Banque Populaire and Caisse d'Epargne networks quarterly series
Retail Banking & Insurance: Banque Populaire and Caisse d’Epargne networks quarterly series BANQUE POPULAIRE NETWORK Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 €m Net banking income 1,713 1,701 1,638 1,534 1,557 1,460 1,483 Operating expenses (1,003) (973) (990) (1,018) (1,018) (1,015) (961) Gross op
Slide 57: Retail Banking & Insurance: deposits & savings and loan outstandings
Retail Banking & Insurance DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) Change YoY Change YoY 886 908 +2% +3% 249 269 716 691 (7)% Sight deposits +2% Passbook savings accounts 233 (6)% Regulated home savings plans 401 227 386 46% Term accounts 76 +4% Residential mortgages 81 x3 BPCE bonds
Slide 58: Retail Banking & Insurance: Banque Populaire network
Retail Banking & Insurance: Banque Populaire network DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) Change YoY Change YoY 377 +2% +3% 368 303 126 295 (10)% Sight deposits 140 3% Passbook savings accounts (5)% Regulated home savings plans 164 169 76 74 56% Term accounts 21 3% Residential mort
Slide 59: Retail Banking & Insurance: Caisse d'Epargne network
Retail Banking & Insurance: Caisse d’Epargne network DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) Change YoY Change YoY 501 513 +3% +4% 369 113 355 119 (5)% Sight deposits 156 229 153 220 2% Passbook savings accounts (7)% Regulated home savings plans 55 33% Term accounts 4% Residential mor
Slide 60: Retail Banking & Insurance: FSE quarterly series
Retail Banking & Insurance: FSE quarterly series FINANCIAL SOLUTIONS & EXPERTISE Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 €m Net banking income 295 292 287 272 315 306 318 Operating expenses (149) (147) (147) (165) (157) (151) (154) Gross operating 146 145 140 107 158 155 164 income Cost of risk (1
Slide 61: Retail Banking & Insurance: Insurance quarterly series
Retail Banking & Insurance: Insurance quarterly series INSURANCE Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 €m Net banking income 127 (2) 112 170 180 126 181 Operating expenses (36) (41) (38) (51) (43) (37) (42) Gross operating 91 (43) 74 118 137 89 139 income Income before tax 90 (46) 72 119 139 93
Slide 62: Retail Banking & Insurance: Digital & Payments quarterly series
Retail Banking & Insurance: Digital & Payments quarterly series DIGITAL & PAYMENTS Q1-22 Q2-22 Q3-22 (at constant (at constant (at constant €m Q1-22 scope, excl. Q2-22 scope, excl. Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 scope, excl. Bimpli) Bimpli) Bimpli) Net banking 231 207 232 208 231 206 231 205 203 209
Slide 63: Retail Banking & Insurance: Other network quarterly series
Retail Banking & Insurance: Other network quarterly series OTHER NETWORK Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 €m Net banking income 84 89 86 88 97 97 99 Operating expenses (50) (52) (49) (58) (51) (52) (52) Gross operating 34 37 37 30 46 45 47 income Cost of risk (5) (19) 0 (32) (2) 2 (14) Inco
Slide 64: Global Financial Services: quarterly income statement per business line
Global Financial Services: quarterly income statement per business line CORPORATE & ASSET AND WEALTH GLOBAL FINANCIAL INVESTMENT MANAGEMENT SERVICES BANKING €m % Q3-23 Q3-22 Q3-23 Q3-22 Q3-23 Q3-22 Net banking income 768 796 968 898 1,736 1,694 2% Operating expenses (631) (640) (648) (626) (1,279) (
Slide 65: Global Financial Services: 9-month income statement per business line
Global Financial Services: 9-month income statement per business line CORPORATE & ASSET AND WEALTH GLOBAL FINANCIAL INVESTMENT MANAGEMENT SERVICES BANKING €m % 9M-23 9M-22 9M-23 9M-22 9M-23 9M-22 Net banking income 2,328 2,423 3,029 2,824 5,356 5,247 2% Operating expenses (1,907) (1,934) (1,957) (1,
Slide 66: Global Financial Services: quarterly series
Global Financial Services: quarterly series GLOBAL FINANCIAL SERVICES €m Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Net banking income 1,782 1,771 1,694 1,865 1,822 1,798 1,736 Operating expenses (1,275) (1,252) (1,265) (1,376) (1,303) (1,282) (1,279) Gross operating 507 518 429 489 519 517 457 incom
Slide 67: Asset & Wealth Management: quarterly series
Asset & Wealth Management: quarterly series ASSET & WEALTH MANAGEMENT €m Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Net banking income 812 814 796 929 784 776 768 Operating expenses (644) (650) (640) (704) (642) (634) (631) Gross operating income 168 165 157 225 142 142 137 Cost of risk 6 (6) 4 1 6 (
Slide 68: Corporate & Investment Banking: quarterly series
Corporate & Investment Banking: quarterly series CORPORATE & INVESTMENT BANKING €m Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Net banking income 970 956 898 935 1,038 1,022 968 Operating expenses (631) (602) (626) (671) (662) (647) (648) Gross operating income 339 354 272 264 376 375 320 Cost of risk
Slide 69: Corporate center: quarterly series
Corporate center: quarterly series CORPORATE CENTER €m Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Net banking income 162 161 183 144 102 13 (3) Operating expenses (829) (179) (237) (220) (788) (58) (175) Gross operating income (667) (18) (54) (76) (686) (45) (178) Cost of risk 4 18 38 (60) (46) 1 0 S
Slide 70: Performing & non-performing loans and impairment
Performing & non-performing loans and impairment €bn Sept. 30, 2023 Dec.31, 2022 Gross outstanding loans to customers and credit institutions 959.2 938.9 O/w S1 outstandings 807.4 789.4 O/w S2 outstandings 129.4 128.1 O/w S3 outstandings 22.4 21.4 Non-performing loans/gross outstanding loans 2.3% 2.
Slide 71: Cost of risk by business lines
Cost of risk by business lines S3 COST OF RISK(1) (in bps) S1/S2 37 28 22 22 22 17 16 12 9 10 14 BP network 19 12 15 17 23 23 9 (9) (6) 28 15 13 17 15 CE network 8 12 7 16 9 12 10 7 2 10 11 22 16 5 (13) (4) 37 20 22 21 z 17 17 RB&I 12 13 10 22 14 11 14 15 24 8 10 21 2 (10) (5) 56 54 44 17 33 54 10 8
Slide 72: Breakdown of gross exposures at September 30, 2023
Breakdown of gross exposures at September 30, 2023(1) Diversified portfolio Breakdown per geographical region Breakdown of Group gross Financial institutions/ Central administrations/ Corporate customers exposure per counterparty Local governments Central banks and other sovereign exposures 4% 1% 3%
Slide 73: groupeBPCE.com
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