Natixis — Groupe BPCE — H1 2015 Earnings Presentation
75 slides from Natixis's earnings presentation, Jul 30, 2015
Slide 1: Results for the 2nd quarter and 1st half of 2015
Results for the 2nd quarter July 30, 2015 and 1st half of 2015
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements and comments relating to the objectives and strategy of Groupe BPCE. By their very nature, these forward-looking statements inherently depend on assumptions, project considerations, objectives and expectations linked to future event
Slide 3: Groupe BPCE enhanced results: net income of €841m in Q2-15
Groupe BPCE enhanced results: net income1 of €841m in Q2-15 (+2.3%) and €1,850m in H1-15 (+9.7%) Banque Populaire and Caisse d’Epargne networks Deposits & savings: €618bn, +€28bn year-on-year Loan outstandings: +2.7% year-on-year Insurance Sustained growth in the non-life portfolio: +9.7% Dyna
Slide 4: Contents
Contents 1 2 3 4 Results of Capital Results of the Conclusion Groupe BPCE adequacy and business lines liquidity July 30, 2015 Results for the 2nd quarter and 1st half of 2015 4
Slide 5: Non-economic and exceptional items
Non-economic and exceptional items Q2-15 Q2-14 H1-15 H1-14 Non-economic items Net income Net income Net income Net income In millions of euros Income before attributable to Income before attributable to Income before attributable to Income before attributable to tax equity holders tax equity holders
Slide 6: Q2-15 results of Groupe BPCE
Q2-15 results of Groupe BPCE Net income1,2 of the core businesses: €1bn, +15.8% Core business Core business Q2-15 Q2-14 pf Q2-15/Q2-14 pf lines3 lines3 Q2-15/Q2-14 pf In millions of euros % change Q2-15 Q2-14 pf % change 1 Net banking income 5,939 5,739 3.5 % 5,911 5,559 6.3 % Operating expenses -3,
Slide 7: H1-15 results of Groupe BPCE
H1-15 results of Groupe BPCE Strong growth in income: net income1,2 of the core business lines up 14.1% to €2bn Core business Core business H1-15 H1-14 pf H1-15/H1-14 pf lines3 lines3 H1-15/H1-14 pf In millions of euros % change H1-15 H1-14 pf % change Net banking income1 12,143 11,382 6.7 % 11,815
Slide 8: Decline in the cost of risk, to 25bps in Q2-15
Results of Groupe BPCE Decline in the cost of risk, to 25bps in Q2-15 Cost of risk in bps1 50 Banque Populaire banks 40 39 42 34 40 38 Cost of risk: -4bps vs. Q2-14, decline in individual provisions Caisses d’Epargne 27 28 27 29 29 32 24 Cost of risk: -3bps vs. Q2-14, decline in individual cost
Slide 9: 2014-2017 strategic plan: revenue and cost synergies
2014-2017 strategic plan: Revenue and cost synergies in line with objectives Contributions to revenue synergies Per business lines 57% €326m in revenue synergies as at June 30, 2015 Insurance 2017 target of additional revenues generated between 29% Consumer finance the Banque Populaire banks, Caisse
Slide 10: Contents
Contents 1 2 3 4 Results of Capital Results of the Conclusion Groupe BPCE adequacy business lines and liquidity July 30, 2015 Results for the 2nd quarter and 1st half of 2015 10
Slide 11: Capital adequacy: CET1 ratio up 20bps to 12.4%
Capital adequacy CET1 ratio up by 20bps in Q2-15 to 12.4%1 Change in Common Equity Tier-1 ratio +24bps +14bps -19bps -30pbs 12.2%1 12.4%1,2 12.1%2 CET1 ratio at Retained Q2-15 DNCA acquisition Change in RWA and CET1 ratio Impact of deferred CET1 ratio March 31, 2015 earnings 3 miscellaneous at June
Slide 12: Overall capital adequacy ratio up 30bps to 15.9%
Capital adequacy Overall capital adequacy ratio up 30bps in H1-15 to 15.9%1 Capital adequacy ratios1 (as a %) Total capital (in €bn) 15.6% 15.9% 61.2 62.9 13.1% 2.6 2.9 53.6 10.1 11.8 1.5 1.0 0.6 6.2 2.2 3.8 1.2 4.9 20.2 20.4 18.4 CET1 CET1 CET1 12.0 12.4 42.4 47.3 48.9 10.4 24.0 27.1 28.5 2 Dec. 31
Slide 13: Liquidity reserves and short-term funding coverage
Liquidity Increase in short-term funding coverage rate by liquidity reserves Liquidity reserves (in €bn) and Group customer loan/deposit ratio2 short-term funding 147% Liquidity reserves: €166bn at June 30, 2015 138% 3 €49bn in cash placed with central banks 128% 126% 4 5 121% 119% €117bn of ava
Slide 14: 71% of 2015 medium/long-term funding plan completed
Liquidity 71% of the 2015 medium-/long-term funding plan already completed at June 30, 2015 71% of the 2015 MLT completed at June 30, 2015 €17.7bn raised out of a €25bn plan Average maturity at issue: 5 years Average rate: mid-swap +18bps 50% public issues and 50% private placements BPCE’s M
Slide 15: Contents
Contents 1 2 3 4 Results of Capital Results of Conclusion Groupe adequacy and the business BPCE liquidity lines July 30, 2015 Results for the 2nd quarter and 1st half of 2015 15
Slide 16: Commercial Banking & Insurance results
Results of the business lines Commercial Banking & Insurance Q2-15 / H1-15 / Results Q2-15 Q2-14 pf Q2-14 pf H1-15 H1-14 pf H1-14 pf In millions of euros % change % change Net banking income 3,888 3,729 4.3% 7,838 7,503 4.5% Net banking income 1 3,904 3,729 4.7% 7,866 7,502 4.8% Banque Populaire ban
Slide 17: Commercial Banking & Insurance: strong growth in income before tax
Results of the business lines Commercial Banking & Insurance: strong growth in contribution to income before tax Unless specified to the contrary, all changes are vs. June 30, 2014 Deposits & savings and loan outstandings2 (in €bn) Commercial activities of the BP and CE networks 618 590 596 Deposi
Slide 18: Banque Populaire banks
Results of the business lines Banque Populaire banks: strong growth in deposits & savings, decline in the cost of risk Unless specified to the contrary, all changes are vs. June 30, 2014 Deposits & savings and loan outstandings Customer base (in €bn) Principal active customers using banking servic
Slide 19: Caisses d'Epargne
Results of the business lines Caisses d’Epargne: good commercial performance driven by growth in the customer base Unless specified to the contrary, all changes are vs. June 30, 2014 Deposits & savings and loan outstandings (in €bn) Customer base 377 379 390 Principal active customers using bankin
Slide 20: Other networks / Real estate Financing
Results of the business lines Other networks / Real estate Financing1 Unless specified to the contrary, all changes are vs. June 30, 2014 Loan outstandings2 (in €bn) – Core business lines Dynamic commercial activity Aggregate new loan production: +11% to €4.8bn in H1-15 88 87 >Individual customers
Slide 21: Other networks / CNP, BPCE IOM and Banque Palatine
Results of the business lines Other networks / CNP, BPCE IOM and Banque Palatine Unless specified to the contrary, all changes are vs. June 30, 2014 CNP and others1 Life insurance: Business activity indicators >Gross new inflows from the Caisses d’Epargne equal to €2.3bn in Q2-15 (+4.8%), or €5.2b
Slide 22: Core business lines of Natixis
Results of the business lines Core business lines of Natixis: Wholesale Banking, Investment Solutions and Specialized Financial Services Q2-15 / H1-15 / Results1 Q2-15 Q2-14 pf Q2-14 pf H1-15 H1-14 pf H1-14 pf In millions of euros % change % change 1 Net banking income 2 023 1 830 10,5 % 3 976 3 523
Slide 23: Natixis core business lines: enhanced profitability in H1-15
Results of the business lines Core business lines of Natixis: enhanced profitability in H1-15 Change in the core business line net Wholesale Banking: income before tax +9%1,2 revenues1 and income before tax1,2 – vs. H1-14 comparisons at constant exchange rates (in €m) Growth in net revenues: +8% i
Slide 24: Wholesale Banking: record quarter for Structured financing
Results of the business lines Wholesale Banking: record-breaking quarter for the Structured financing activity and Equity derivatives business Financing activities Change in net revenues1 (in €m) Structured financing Financing activities Capital markets >New loan production: €8.1bn in Q2-15, i.e.
Slide 25: Investment Solutions: strong activity growth
Results of the business lines Investment Solutions: strong activity growth in all three business lines Asset management Dynamic net inflows in Q2-15 kept at €10bn, taking net new inflows in H1-15 to €29bn, of which: Asset management: assets under >+€11bn in Europe management (in €bn) >+€17bn in th
Slide 26: SFS: strong growth in profitability in H1-15
Results of the business lines SFS: strong growth in profitability in H1-15 Specialized financing Sureties & financial guarantees >Growth in the penetration rate for the home loan guarantees provided by Saccef to 88% for the CE and 35% for the BP Consumer finance >New loan production: +9% vs. H1-
Slide 27: Equity interests
Equity interests1 Disposal of non-strategic equity interests Contribution to Group results Sale in Q2-15 of 13.65% of the capital of Nexity At June 30, 2015, Groupe BPCE’s residual interest in Results Q2-15 Q2-14 pf Q2-15/ Q2-14 pf H1-15 H1-14 pf H1-15/ H1-14 pf Nexity’s capital of 19.75% In mil
Slide 28: Contents
Contents 1 2 3 4 Results of Capital Results of the Conclusion Groupe adequacy and business lines BPCE liquidity July 30, 2015 Results for the 2nd quarter and 1st half of 2015 28
Slide 29: Conclusion
Conclusion Positive growth Enhanced results A balance sheet momentum enjoyed by in H1-15: constantly strengthened the core business lines over the 1st half of the in H1-15: Revenues generated by the year: core business lines: Deposits & savings1 +7.2% vs. H1-14 CET1 ratio of +€28bn year-on-year (+4.
Slide 30: Annexes
Results for the 2nd quarter July 30, 2015 and 1st half of 2015 Annexes
Slide 31: Annexes contents
Annexes Organizational structure of Groupe BPCE Wholesale Banking, Investment Solutions and SFS Consolidated results of Groupe BPCE Income statement Notes on methodology Income statement: reconciliation of consolidated data Equity interests excluding exceptional items to published consolidated
Slide 32: Organizational structure of Groupe BPCE
Annex - Groupe BPCE Organizational structure of Groupe BPCE July 30, 2015 Results for the 2nd quarter and 1st half of 2015 32
Slide 33: Notes on methodology
Annex – Consolidated results of Groupe BPCE Notes on methodology Presentation of Q2-14 pro forma quarterly results and S1-14 pro forma half-year results The segment information has been modified as of Q2-14. The Commercial Banking & Insurance division is now divided into 3 sub-divisions: the Banqu
Slide 34: Notes on methodology – IFRIC 21
Annex – Consolidated results of Groupe BPCE Notes on methodology – IFRIC 21 First application of the IFRIC 21 interpretation Approval in June 2014 by the European Union of the IFRIC interpretation 21 relating to the recognition of levies charged by a public authority (other than income tax) Appl
Slide 35: Quarterly income statement: reconciliation excluding exceptional items
Annex - Groupe BPCE Quarterly income statement: reconciliation of consolidated data excluding exceptional items to published consolidated data Disposal of Changes in Q2-15 Gain from securities / Contribution Provision Disposal of Results methodology Impairment excl. Revaluation disposal of Banca cov
Slide 36: Interim income statement: reconciliation excluding exceptional items
Annex - Groupe BPCE Interim income statement: reconciliation of consolidated data excluding exceptional items to published consolidated data Disposal of Changes in Results H1-15 Gain from securities / Contribution Provision Disposal of methodology Impairment excl. Revaluation disposal of Banca cover
Slide 37: Reconciliation of pro-forma to published data (Q1-14)
Annex - Groupe BPCE Income statement: reconciliation of pro-forma consolidated data to published consolidated data Wholesale Banking, investment Solutions Groupe BPCE Commercial Banking and Insurance Equity interests Corporate center and SFS Changes in the Changes in Changes in Changes in the Pf C.C
Slide 38: Reconciliation of pro-forma to published data (Q3-14)
Annex - Groupe BPCE Income statement: reconciliation of pro-forma consolidated data to published consolidated data Wholesale Banking, investment Solutions Groupe BPCE Commercial Banking and Insurance Equity interests Corporate center and SFS Changes in the Changes in the Changes in the Changes in th
Slide 39: Quarterly income statement per business line
Annex - Groupe BPCE Quarterly income statement per business line Wholesale Commercial Banking, Banking & Core businesses Equity interests Corporate center Groupe BPCE Investment Insurance Solutions and SFS in millions of euros Q2-15 Q2-14 pf Q2-15 Q2-14 pf Q2-15 Q2-14 pf % Q2-15 Q2-14 pf Q2-15 Q2-14
Slide 40: Interim income statement per business line
Annex - Groupe BPCE Interim income statement per business line Wholesale Commercial Banking, Banking & Core businesses Equity interests Corporate center Groupe BPCE Investment Insurance Solutions and SFS in millions of euros H1-15 H1-14 pf H1-15 H1-14 pf H1-15 H1-14 pf % H1-15 H1-14 pf H1-15 H1-14 p
Slide 41: Quarterly income statement
Annex – Groupe BPCE Quarterly income statement Groupe BPCE in millions of euros Q1-14 pf Q2-14 pf H1-14 pf Q3-14 pf Q4-14 pf 2014 pf Q1-15 Q2-15 H1-15 Net banking income 5,643 5,735 11,377 5,477 5,533 22,387 6,191 6,058 12,249 Operating expenses -4,025 -3,846 -7,871 -3,687 -4,039 -15,598 -4,318 -3,9
Slide 42: Consolidated balance sheet
Annex – Groupe BPCE Consolidated balance sheet ASSETS in millions of euros June 30, 2015 Dec. 31, 2014 LIABILITIES in millions of euros June 30, 2015 Dec. 31, 2014 C ash and amounts due from central banks 64,029 79,028 Amounts due to central banks 5 2 Financial assets at fair value through profit or
Slide 43: Statement of changes in shareholders' equity
Annex – Financial structure Statement of changes in shareholders' equity Equity attributable to In millions of euros equity holders of the parent December 31, 2014 55,290 Effect of the application of IFRIC interpretation 21 46 Distributions -362 Capital increase (cooperative shares) 180 Income 1,679
Slide 44: Reconciliation of shareholders' equity to total capital
Annex – Financial structure Reconciliation of shareholders' equity to total capital1 -1.4 in billions of euros +13.2 -2.5 +4.0 -4.7 -1.4 -1.52 +2.2 62,94 62.9 55.0 51.1 51,13 48,88 48.9 48,88 Equity Cancellation Non-controlling Goodwill and EL/Prov Other Common Additional Tier-1 Tier-2 Deductions To
Slide 45: Prudential ratios and credit ratings
Annex – Financial structure Prudential ratios1 and credit ratings June 30, 2015 Mar. 31, 2015 Dec. 31, 2014 Dec. 31, 2013 pf Total risk-weighted assets €395bn €399bn €393bn €409bn Common Equity Tier-1 capital €48.7bn €48.3bn €46.6bn €42.3bn Tier-1 capital €50.5bn €50.1bn €50.0bn €46.5bn Total capita
Slide 46: Breakdown of risk-weighted assets at June 30, 2015
Annex - Financial structure Breakdown of risk-weighted assets at June 30, 2015 Commercial Banking & 85% Credit risk Insurance 65% CVA Natixis Market risk 30% Other 2% Operational risk 4% 5% 9% July 30, 2015 Results for the 2nd quarter and 1st half of 2015 46
Slide 47: Leverage ratio
Annex Leverage ratio1 June 30, March 31, Dec. 31, in billions of euros 2015 2015 2014 Tier-1 capital 51.1 50.9 51.1 Balance sheet total 1,169.2 1,238.6 1,223.3 Prudential restatements -68.9 -70.7 -66.1 Prudential balance sheet total2 1,100.3 1,167.9 1,157.2 Adjustments related to exposure to derivat
Slide 48: Financial conglomerate
Annex Financial conglomerate CRR/CRD 42 Restatements Financial Financial conglomerate ratio viewpoint conglomerate viewpoint +0.4 Banking CR1 (CRR/CRD4) Regulatory capital > + Insurance CR1 (Solvency 1) Total capital 62.8 60,2 60,2 63.2 (in €bn) 1 2 3 Transfer from the Basel 3 ratio2 to the conglome
Slide 49: Quarterly income statement per business line
Annex - Commercial Banking & Insurance Quarterly income statement per business line Commercial Banking & Banque Populaire banks Caisses d'Epargne Other networks Insurance in millions of euros Q2-15 Q2-14 pf % Q2-15 Q2-14 pf % Q2-15 Q2-14 pf % Q2-15 Q2-14 pf % Net banking income 1,646 1,607 2.4% 1,79
Slide 50: Interim income statement per business line
Annex - Commercial Banking & Insurance Interim income statement per business line Commercial Banking & Banque Populaire banks Caisses d'Epargne Other networks Insurance in millions of euros H1-15 H1-14 pf % H1-15 H1-14 pf % H1-15 H1-14 pf % H1-15 H1-14 pf % Net banking income 3,301 3,210 2.8% 3,662
Slide 51: Quarterly income statement
Annex - Commercial Banking & Insurance Quarterly income statement Commercial Banking & Insurance in millions of euros Q1-14 pf Q2-14 pf H1-14 pf Q3-14 pf Q4-14 pf 2014 pf Q1-15 Q2-15 H1-15 Net banking income 3,774 3,729 7,503 3,809 3,733 15,045 3,951 3,888 7,838 Operating expenses -2,618 -2,437 -5,0
Slide 52: Quarterly income statement: Banque Populaire banks and Caisses d'Epargne
Annex - Commercial Banking & Insurance Quarterly income statement: Banque Populaire banks and Caisses d’Epargne Banque Populaire banks in millions of euros Q1-14 pf Q2-14 pf H1-14 pf Q3-14 pf Q4-14 pf 2014 pf Q1-15 Q2-15 H1-15 Net banking income 1,603 1,607 3,210 1,586 1,563 6,359 1,655 1,646 3,301
Slide 53: Banque Populaire network: customer deposits & savings
Annex - Commercial Banking & Insurance Banque Populaire network: customer deposits & savings (in €bn) 228.4 213.0 217.1 57.7 50.3 54.4 % change Q2-15/Q2-14 44.1 Demand deposits +14.8% 43.0 42.6 Passbook savings accounts +2.5% 17.1 15.6 16.3 Regulated home savings +9.7% plans 31.4 29.7 29.9 Term acco
Slide 54: Banque Populaire retail network: customer loan outstandings
Annex - Commercial Banking & Insurance Banque Populaire retail network: customer loan outstandings (in €bn) 168.3 167.4 169.4 % change Q2-15/Q2-14 Home loans +3.3% 88.7 89.9 91.6 Consumer loans +5.8% Short-term credit facilities -15.0% 6.7 6.8 7.1 Equipment loans -0.5% 13.2 11.1 11.2 Other Ns 54.1 5
Slide 55: Caisse d'Epargne retail network: customer deposits & savings
Annex - Commercial Banking & Insurance Caisse d’Epargne retail network: customer deposits & savings (in €bn) % change Q2-15/Q2-14 390.0 377.1 379.3 Demand deposits +15.6% 49.9 Passbook savings accounts -4.3% 43.2 47.0 Regulated home savings +11.5% plans 126.8 126.3 131.9 Term accounts +18.2% BPCE bo
Slide 56: Caisse d'Epargne retail network: customer loan outstandings
Annex - Commercial Banking & Insurance Caisse d’Epargne retail network: customer loan outstandings (in €bn) 215.3 210.7 206.2 % change Q2-15/Q2-14 127.0 130.4 124.3 Home loans +4.9% Consumer loans +8.7% Short-term credit facilities +0.5% 11.3 11.6 12.3 Equipment loans +4.0% 8.7 8.3 8.7 Other Ns 56.6
Slide 57: Quarterly income statement - Other networks
Annex - Commercial Banking & Insurance Quarterly income statement - Other networks (*) Other networks in millions of euros Q1-14 pf Q2-14 pf H1-14 pf Q3-14 pf Q4-14 pf 2014 pf Q1-15 Q2-15 H1-15 Net banking income 365 394 759 427 391 1,577 429 446 875 Operating expenses -286 -257 -543 -246 -267 -1,05
Slide 58: Wholesale banking, Investment Solutions and SFS: quarterly income statement
Annex – Wholesale banking, Investment Solutions and Specialized Financial Services Quarterly income statement Wholesale Banking, Investment Solutions and Wholesale Banking Investment Solutions Specialized Financial Services Specialized Financial Services in millions of euros Q2-15 Q2-14 pf % Q2-15 Q
Slide 59: Interim income statement per business line
Annex – Wholesale banking, Investment Solutions and Specialized Financial Services Interim income statement per business line Wholesale Banking, Specialized Financial Investment Solutions and Wholesale Banking Investment Solutions Services Specialized Financial Services in millions of euros H1-15 H1
Slide 60: Quarterly income statement per business line
Annex - Wholesale Banking, Investment Solutions and SFS Quarterly income statement per business line Wholesale Banking, Investment Solutions and Specialized Financial Services in millions of euros Q1-14 pf Q2-14 pf H1-14 pf Q3-14 pf Q4-14 pf 2014 pf Q1-15 Q2-15 H1-15 Net banking income 1,693 1,793 3
Slide 61: Wholesale Banking quarterly income statement
Annex - Wholesale Banking, Investment Solutions and SFS Quarterly income statement per business line Wholesale Banking in millions of euros Q1-14 pf Q2-14 pf H1-14 pf Q3-14 pf Q4-14 pf 2014 pf Q1-15 Q2-15 H1-15 Net banking income 732 763 1,495 680 629 2,804 806 842 1,648 Operating expenses -455 -422
Slide 62: Investment Solutions quarterly income statement
Annex - Wholesale Banking, Investment Solutions and SFS Quarterly income statement per business line Investment Solutions in millions of euros Q1-14 pf Q2-14 pf H1-14 pf Q3-14 pf Q4-14 pf 2014 pf Q1-15 Q2-15 H1-15 Net banking income 648 711 1,360 690 773 2,822 823 846 1,669 Operating expenses -486 -
Slide 63: Specialized Financial Services quarterly income statement
Annex - Wholesale Banking, Investment Solutions and SFS Quarterly income statement per business line Specialized Financial Services in millions of euros Q1-14 pf Q2-14 pf H1-14 pf Q3-14 pf Q4-14 pf 2014 pf Q1-15 Q2-15 H1-15 Net banking income 313 320 632 307 327 1,266 324 335 659 Operating expenses
Slide 64: Equity interests quarterly income statement
Annex - Equity interests Quarterly income statement Equity interests in millions of euros Q1-14 pf Q2-14 pf H1-14 pf Q3-14 pf Q4-14 pf 2014 pf Q1-15 Q2-15 H1-15 Net banking income 213 212 425 209 195 830 227 196 423 Operating expenses -176 -171 -347 -167 -180 -694 -179 -167 -346 Gross operating inco
Slide 65: Corporate center quarterly income statement
Annex - Corporate center Quarterly income statement Corporate center in millions of euros Q1-14 pf Q2-14 pf H1-14 pf Q3-14 pf Q4-14 pf 2014 pf Q1-15 Q2-15 H1-15 Net banking income -37 0 -37 -219 -125 -380 60 -49 11 Operating expenses -77 -122 -199 -73 -86 -357 -243 -70 -313 Gross operating income -1
Slide 66: Non-performing loans and impairment
Annex – Risks Groupe BPCE: non-performing loans and impairment In millions of euros June 30, 2015 Dec. 31, 2014 Dec. 31, 2013 Gross outstanding customer loans 626,670 623,256 590,704 O/w non-performing loans 23,548 22,919 23,330 Non-performing/gross outstanding loans 3.8% 3.7% 3.9% Impairment recogn
Slide 67: Breakdown of commitments as at June 30, 2015
Annex – Risks Breakdown of commitments as at June 30, 2015 Breakdown of commitments Breakdown of commitments to Corporates per counterparty per economic sector Finance insurance 15.1% 6% Real-estate rentals 11.2% 9% Energy 9.6% 27% Real estate 8.9% Holding companies & diversified 6.9% 4% Services 4.
Slide 68: Geographical breakdown of commitments
Annex – Risks Geographical breakdown of commitments as at June 30, 2015 Central administrations / central banks and other Institutions sovereign exposures Corporates 2% 2% 3% 5% 9% 4% 17% 8% 11% 16% 15% 34% 38% 69% 67% France Centralization of regulated savings Europe excl. France N&S America Asia /
Slide 69: Sensitive exposures: Recommendations of the Financial Stability Forum
Annex – Sensitive exposures Recommendations of the Financial Stability Forum Foreword Contents With the exception of the summary on the next CDO (Collateralized Debt Obligations) page, the information provided in the following CMBS (Commercial Mortgage-backed Securities) pages is based on the
Slide 70: Groupe BPCE FSF report at June 30, 2015
Annex – Groupe BPCE FSF report at June 30, 2015 Summary of sensitive exposures Total Total Groupe BPCE in billions of euros (excl. Natixis) Natixis June 30, Dec. 31, 2015 2014 Net exposure ABS CDOs (asset-backed securities) 0.0 0.0 0.0 0.0 US residential market Net exposure Other at-risk CDOs 0.7 1.
Slide 71: Sensitive exposures: Other CDOs
Annex – Sensitive exposures (excl. Natixis) Other CDOs (unhedged) Gross Net exposure Changes in Other Net exposure exposure In millions of euros Dec. 31, value changes June 30, June 30, 2014 H1-15 H1-15 2015 2015 Portfolio at fair value through 4 0 - 0 4 5 profit or loss Portfolio at fair value thro
Slide 72: Sensitive exposures: CMBS
Annex – Sensitive exposures (excl. Natixis) CMBS Gross Net exposure Changes in Other Net exposure exposure In millions of euros Dec. 31, value changes June 30, June 30, 2014 H1-15 H1-15 2015 2015 Portfolio at fair value through 1 0 0 1 1 profit or loss Portfolio at fair value through 12 -1 5 16 16 s
Slide 73: Sensitive exposures: RMBS
Annex – Sensitive exposures (excl. Natixis) RMBS Portfolio of RMBS Net exposure Changes in Other Net Gross Breakdown of residual exposure exposure in the UK In millions of euros Dec. 31, 2014 value H1-15 changes H1-15 June 30, June 30, exposure by rating 2015 2015 Portfolio at fair value through 0 0
Slide 74: Sensitive exposures: Protection acquired
Annex – Sensitive exposures (excl. Natixis) Protection acquired Credit enhancers (monoline) Protection acquired from credit enhancers by Crédit Foncier on financial assets is in the form of financial guarantees (and not CDS) and represents a guarantee attached to the enhanced asset In this respe
Slide 75: Results for the 2nd quarter and 1st half of 2015
July 30, 2015 Results for the 2nd quarter and 1st half of 2015 75