Natixis — Groupe BPCE — FY2017 Earnings Presentation
74 slides from Natixis's earnings presentation, Feb 13, 2018
Slide 1: Results for Full-Year 2017
RESULTS FOR FULL-YEAR 2017 FEBRUARY 13, 2018
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: 2017 Results
2017 RESULTS ATTRIBUTABLE INCOME NET INCOME BEFORE TAX OF FINANCIAL STABLE €6,1bn1 STRENGTH AT €3.4bn1 +4.1% Robust performance Net banking income: +2.1%1, CET1 ratio: 15.4%2, achieved by the Asset & growth driven by Asset & Wealth +120bps in 2017 Wealth Management and Management, Corporate & TLAC r
Slide 4: Contents
CONTENTS 1 Results of Groupe BPCE 2 Capital adequacy and liquidity 3 Results of the business lines 4 Conclusion 4 RESULTS FOR FULL-YEAR 2017
Slide 5: Gross operating income up by 2.9% to more than €7bn
2017 RESULTS Gross operating income up by 2.9% year-on-year to more than €7bn1 Revenues: +2.1%1 Change in net banking income, 2016 / 2017 (in €m) ʘ Revenues posted by the Retail Banking & Insurance division: +2.1% -1.2%1,2 Resilience of revenues generated by the BP and CE -762 39 165 243 networks:
Slide 6: Decline in average annual cost of risk to 20bps
2017 RESULTS 2-point decline in the average annual cost of risk in 2017, to 20bps Groupe BPCE Cost of risk in bps2 -8.0% Banque Populaire banks 28 23 32 22 22 21 27 1,448 1,333 Caisses d’Epargne Cost of risk (€m) excluding exceptional items 18 15 25 14 15 10 20 2016 2017 Retail Banking & Insurance R
Slide 7: Attributable net income remains stable at €3.4bn
2017 RESULTS Attributable net income remains stable at €3.4bn1 2017 underlying / Impact of non 2016 underlying 2017 economic and 2017 underlying 2016 underlying % change exceptional items In millions of euros Net banking income 23,720 -165 23,885 23,397 2.1% Operating expenses -17,098 -316 -16,782 -
Slide 8: Q4-17 attributable net income +18.7% to €679m
Q4-17 RESULTS Attributable net income1,2 +18.7%, to €679m Q4-17 underlying / Impact of non Q4-16 pf underlying Q4-17 economic and Q4-17 underlying Q4-16 pf underlying % change exceptional items In millions of euros Net banking income 5,918 -67 5,985 5,977 0.1% Operating expenses -4,418 -176 -4,242 -
Slide 9: Revenue and cost synergies
REVENUE AND COST SYNERGIES Results of the 2014/2017 “Another way to grow” strategic plan Contribution to revenue synergies 2017 target of €870m in additional revenues generated between the Banque Populaire banks, Caisses d’Epargne and Natixis over the life of the plan Insurance 61% 19% Synergies wor
Slide 10: Contents
CONTENTS 1 Results of Groupe BPCE 2 Capital adequacy and liquidity 3 Results of the business lines 4 Conclusion 10 RESULTS FOR FULL-YEAR 2017
Slide 11: Capital adequacy
CAPITAL ADEQUACY CET1 ratio up 120bps in 2017, to 15.4%1,2 Change in the CET1 ratio1 in 2017 (in bps) +38bps +18bps +67bps -8bps Impact of the initial application of IFRS 9 is of no material consequence ʘ Estimated at approximately -20bps3 on the CET1 ratio 15.4%2 14.2% as at January 1, 2018 CET1 ra
Slide 12: Liquidity reserves and short-term funding
2017 RESULTS Liquidity reserves and short-term funding Total liquidity reserves of Groupe BPCE1 Short-term funding and MLT debt maturing (in €bn) in the short term (in €bn) 230 168% 174% 158% 214 196 71 83 61 27 24 22 66 60 119 58 93 101 12/31/2015 12/31/2016 12/31/2017 93 75 73 ST MLT Coverage rati
Slide 13: Liquidity
LIQUIDITY 2018 wholesale medium-/long-term funding plan 29% complete at end-January 2018 115% of the 2017 wholesale MLT funding plan completed Structure of 2017 MLT funding ʘ €23bn1 raised on a €20bn program ʘ Average maturity at issue: 7.1 years Covered bond issues ʘ Average cost of the liquidity:
Slide 14: Contents
CONTENTS 1 Results of Groupe BPCE 2 Capital adequacy and liquidity 3 Results of the business lines 4 Conclusion 14 RESULTS FOR FULL-YEAR 2017
Slide 15: New segment information starting in Q4-17
NEW SEGMENT INFORMATION STARTING IN Q4-17 Business divisions Corporate center division RETAIL ASSET & CORPORATE & CORPORATE BANKING & WEALTH INVESTMENT CENTER INSURANCE MANAGEMENT BANKING Banque Populaire banks Asset Management Global markets Corporate center Including private equity FIC-T, Equity C
Slide 16: Contribution of the business lines
CONTRIBUTION OF THE BUSINESS LINES Retail Banking penalized by persistently low interest rates; strong growth in the other business lines Retail Banking & Insurance Asset & Wealth Management Net banking income1 (in €m) Income before tax (in €m) Net banking income (in €m) Income before tax (in €m) -1
Slide 17: Retail Banking & Insurance: new growth drivers
RETAIL BANKING & INSURANCE Development of new growth drivers: Insurance and Payments Loan outstandings - in €bn - New loan production Loan outstandings: +5.1% year-on-year +5.1% 125 ʘ Home loans +4.8%, 543 101 517 13 Other ʘ Equipment loans +5.4% 11 35 28 Consumer ʘ Consumer finance +9.8% 74 61 Equi
Slide 18: Retail Banking & Insurance: contribution to income before tax
RETAIL BANKING & INSURANCE Contribution to income before tax2 of €4.4bn in 2017 Net banking income: limited decline of 1.2%1,2 YoY Net banking income1,2 per sub-division (in €bn) 16.9 16.7 ʘ Aggregate net banking income of the BP and CE retail banking 1.4 1.2 Other networks networks subject to a lim
Slide 19: Banque Populaire banks
RETAIL BANKING & INSURANCE Banque Populaire banks – Good results. Income before tax2 stable year-on-year at €1.6bn Loan outstandings - in €bn - Deposits & savings Customer base ʘ Principal active customers: +100,900, +2.7% +7.0% Off-balance sheet +7.7% ʘ Private banking and Wealth Management custome
Slide 20: Caisses d'Epargne
RETAIL BANKING & INSURANCE Caisses d’Epargne – Buoyant results against a background of low interest rates Loan outstandings - in €bn - Deposits & savings Customer base +7.3% +3.2% 412 Off-balance sheet ʘ Principal active individual customers: +143,000, +2.2% 236 253 399 D&S ʘ Private banking and Wea
Slide 21: SFS - Natixis' Payments hub set for growth
RETAIL BANKING & INSURANCE SFS - Natixis’ Payments hub set for growth Payments (Natixis Payment Solutions) Successful mandatory takeover bid on Dalenys (January 26, 2018) ʘ Merchant acquiring turnover generated by Natixis Payment Solutions’ recent acquisitions3 up +64% YoY in 2017 On January 16, 201
Slide 22: Insurance - A sustainable growth driver
RETAIL BANKING & INSURANCE Scope: Insurance division of Natixis Insurance – A sustainable growth driver Premiums1 Life funds1 Life1 and Personal Protection (in €bn) (in €bn) ʘ €10.3bn in earned premiums in 2017 11.7 Life and 54.7 ʘ Asset under management of almost €55bn at end-2017; net inflows pers
Slide 23: Other networks
RETAIL BANKING & INSURANCE Other networks1 Loan outstandings2 - in €bn - Deposits & savings Crédit Foncier 98.5 93.7 ʘ New loan production equal to €11.8bn in 2017, +22% vs. 2016 5.7 5.3 8.1 8.7 Home loans granted to individual customers: €8.8bn, +25% 21.8 21.7 ʘ Decline in outstandings owing to t
Slide 24: Asset & Wealth Management
ASSET & WEALTH MANAGEMENT Robust quarter driven by high margins and dynamic fund inflows Asset Management: Assets under Management Assets under management reached US$1.0trn (in €bn) at end-2017 (€831bn) +52 - 50 Average 2017 positions at constant exchange rates: +24 - 26 ʘ +10.5% in Europe (excl. Li
Slide 25: Asset & Wealth Management: contribution to income before tax
ASSET & WEALTH MANAGEMENT Contribution to income before tax1 of almost €1bn in 2017, significant increase of +25.4% Net banking income: +14.5% vs. 2016 % % 2017 Q4-17 in millions of euros Change N-1 Change N-1 Asset Management Net banking income 3,113 14.5% 899 22.4% ʘ Overall fee rate excl. perf. f
Slide 26: Corporate & Investment Banking
CORPORATE & INVESTMENT BANKING Strong revenue generation driven by all activities Global markets1 revenues (in €m) Global Markets % change FIC-T 1,916 +11% 1,731 ʘ Revenues: +6% year-on-year, thanks to robust growth in Fixed 599 Income activities in the united States and APAC Equity 493 +21% FIC-T E
Slide 27: CIB: contribution to income before tax
CORPORATE & INVESTMENT BANKING Contribution to income before tax1: €1.3bn in 2017, up 15.7% Net banking income: +9.0%1 vs. 2016 % % 2017 Q4-17 (excluding CVA/DVA) in millions of euros Change N-1 Change N-1 ʘ Global Markets: +11% Net banking income1 3,581 7.3% 817 -7.6% ʘ Investment banking and M&A:
Slide 28: Contents
CONTENTS 1 Results of Groupe BPCE 2 Capital adequacy and liquidity 3 Results of the business lines 4 Conclusion 28 RESULTS FOR FULL-YEAR 2017
Slide 29: Conclusion
2017 RESULTS Conclusion Resilient results in Retail Banking penalized by a background of low interest rates, rollout of new growth drivers in the Insurance and Payments business activities, Retail Banking and Insurance division contributing €4.4bn to income before tax1 in 2017, down 4.2% Dynamic gro
Slide 30: Annexes
RESULTS FOR FULL-YEAR 2017 ANNEXES FEBRUARY 13, 2018
Slide 31: Annexes contents
ANNEXES Contents Organizational structure of Groupe BPCE Retail Banking & Insurance ʘ Income statement and quarterly series Consolidated results of Groupe BPCE ʘ Banque Populaire and Caisse d’Epargne – ʘ Notes on methodology quarterly series ʘ IFRS 9: expected impacts ʘ Change in net banking income
Slide 32: Organizational structure of Groupe BPCE
ANNEXES Organizational structure of Groupe BPCE at December 31, 2017 9 million cooperative shareholders 100% 100%* 50% 50% BPCE SA 100% 71% * Indirectly through Local Savings Companies 29% FLOAT 32 RESULTS FOR FULL-YEAR 2017
Slide 33: Notes on methodology (1/4)
ANNEXES Notes on methodology (1/4) Presentation of the pro-forma quarterly results Non-economic and exceptional items ʘ The segment information has been modified as of Q4-17 ʘ The non-economic and exceptional items and the reconciliation of in accordance with the presentation of the business lines i
Slide 34: Notes on methodology (2/4)
ANNEXES Notes on methodology (2/4) Net banking income Business line performance presented using Basel 3 standards ʘ Customer net interest income, excluding regulated home savings ʘ The accounting ROE of Groupe BPCE is the ratio between the schemes, is computed on the basis of interest earned from fo
Slide 35: Notes on methodology (3/4)
ANNEXES Notes on methodology (3/4) Capital adequacy ʘ Common Equity Tier 1 is determined in accordance with the ʘ This amount is comprised of the following 4 items: applicable CRR/CRD IV rules; fully-loaded equity is presented Common Equity Tier 1 in accordance with the applicable without the appl
Slide 36: Notes on methodology (4/4)
ANNEXES Notes on methodology (4/4) Liquidity ʘ Total liquidity reserves comprise the following: Customers’ deposits are subject to the following adjustments: Central bank-eligible assets include: ECB-eligible securities Addition of security issues placed by the Banque Populaire not eligible for
Slide 37: IFRS 9: expected impacts
ANNEXES IFRS 9: expected impacts ʘ The new IFRS 9 Instruments financiers standard became ʘ The reclassification between categories of financial assets should applicable on January 1st, 2018. have no significant impact on the Group’s regulatory capital at January 1st, 2018. ʘ IFRS 9 sets out new clas
Slide 38: 2017 results: reconciliation to published data
ANNEXES 2017 results: reconciliation of data (excluding non-economic and exceptional items) to published data Net income Income Net banking income Operating expenses Cost of risk attributable to equity before tax holders of the parent in millions of euros 2017 results 23,720 -17,098 -1,384 5,516 3,0
Slide 39: 2016 results: reconciliation to published data
ANNEXES 2016 results: reconciliation of data (excluding non-economic and exceptional items) to published data Net income Income Net banking income Operating expenses Cost of risk attributable to equity before tax holders of the parent in millions of euros 2016 results 24,158 -16,673 -1,423 6,370 3,9
Slide 40: Q4-17 results: reconciliation to published data
ANNEXES Q4-17 results: reconciliation of data (excluding non-economic and exceptional items) to published data Net income Income Net banking income Operating expenses Cost of risk attributable to equity before tax holders of the parent in millions of euros Q4-17 results 5,918 -4,418 -416 1,059 497 N
Slide 41: Q4-16 pf results: reconciliation to published data
ANNEXES Q4-16 pf results: reconciliation of data (excluding non-economic and exceptional items) to published data Net income Income Net banking income Operating expenses Cost of risk attributable to equity before tax holders of the parent in millions of euros Q4-16 pf results 6,049 -4,348 -379 1,308
Slide 42: Reconciliation of pro-forma consolidated data to published data
ANNEXES Reconciliation of pro-form consolidated data to published data Groupe BPCE IFRS9 IFRS9 IFRS9 IFRS9 Final SRF Final SRF Restatement of Restatement of Restatement of Restatement of Q1-16 pub contribution revaluation of Q1-16 pf Q2-16 pub contribution revaluation of Q2-16 pf Q3-16 pub revaluati
Slide 43: Annual income statement per business line
ANNEXES Annual income statement per business line Retail Banking and Asset & Wealth Corporate & Corporate center Groupe BPCE Insurance Management Investment Banking in millions of euros 2017 2016 pf 2017 2016 pf 2017 2016 pf 2017 2016 pf 2017 2016 % Net banking income 16,673 16,948 3,113 2,718 3,581
Slide 44: Quarterly income statement per business line
ANNEXES Quarterly income statement per business line Retail Banking and Asset & Wealth Corporate & Corporate center Groupe BPCE Insurance Management Investment Banking in millions of euros Q4-17 Q4-16 pf Q4-17 Q4-16 pf Q4-17 Q4-16 pf Q4-17 Q4-16 pf Q4-17 Q4-16 pf % Net banking income 4,038 4,273 899
Slide 45: Quarterly series
ANNEXES Quarterly series Groupe BPCE Q1-16 pf Q2-16 pf Q3-16 pf Q4-16 pf 2016 Q1-17 pf Q2-17 pf Q3-17 Q4-17 2017 in millions of euros Net banking income 5,732 6,666 5,712 6,049 24,158 6,062 6,052 5,688 5,918 23,720 Operating expenses -4,405 -4,045 -3,876 -4,348 -16,673 -4,564 -4,136 -3,980 -4,418 -1
Slide 46: Consolidated balance sheet
ANNEXES Consolidated balance sheet ASSETS in millions of euros Dec. 31, 2017 Dec. 31, 2016 LIABILITIES in millions of euros Dec. 31, 2017 Dec. 31, 2016 Cash and amounts due from central banks 94,702 83,919 Amounts due to central banks 0 0 Financial assets at fair value through profit or loss 169,768
Slide 47: Goodwill
ANNEXES Goodwill Acquisitions Other Dec. 31, 2016 Impairment Conversion Dec. 31, 2017 In millions of euros /Disposals movements Retail Banking & Insurance entities 1,256 91 (85) (3) 1 1,260 Asset & Wealth Management entities 3,054 103 (190) 2,967 Corporate & Investment Banking entities 87 (10) 77 To
Slide 48: Statement of changes in shareholders' equity
ANNEXES Statement of changes in shareholders' equity Equity attributable to equity holders of the parent In millions of euros December 31, 2016 61,462 Distributions -354 Capital increase (cooperative shares) 1,645 Income 3,024 Remuneration of super-subordinated notes (TSSDI) -75 Issue and redemption
Slide 49: Financial structure
ANNEXES Financial structure Reconciliation of shareholders’ equity to total capital1 -0.8 -0.7 +4.9 -4.9 +15.2 -1.1 -2.92 +0.6 74,3 74.3 64.0 63,3 63,3 62,2 59,3 59.3 59,3 59.9 59,9 Equity Cancellation of Non-controlling Goodwill and EL/Prov Other regulatory Common Additional Tier-1 Tier-2 T2 regula
Slide 50: Phased-in prudential ratios and credit ratings
ANNEXES Financial structure: phased-in prudential ratios and credit ratings Dec. 31, 20171 Dec. 31, 2016 Dec. 31, 2015 LONG-TERM CREDIT RATINGS (FEBRUARY 13, 2018) Total risk-weighted assets €386bn €391bn €391bn A outlook positive Common Equity Tier-1 capital €59.0bn €55.3bn €50.9bn Tier-1 capital 5
Slide 51: SREP
ANNEXES SREP Capital requirement / 2017 SREP (as a%) "Pillar 2 Requirement" 19.2% Total surplus of 707bps Phased-in 2018 G-SIB buffer 3.8 Tier 2 Tier-2 surplus Phased-in 2018 capital conservation buffer Additional Tier 1 0.1 of 178bps Pillar 1 12.13% CET1 surplus of 529bps 2.00 Tier 2 0.12 1.38 Addi
Slide 52: Risk-weighted assets
ANNEXES Risk-weighted assets Breakdown per business line (in €bn) Breakdown per type of risk1 (in €bn) (at current exchange rates) 391 391 386 386 Other 11% 10% 10% 10% 3% 3% 17% 15% 3% Corporate & 2% Investment Banking Operational risk Asset & Wealth 87% 87% Market risk 70% 72% Management Credit ri
Slide 53: Leverage ratio
ANNEXES Leverage ratio1,2 Dec. 31, 2017 Dec. 31, 2016 pf Dec. 31, 2016 In billions of euros Tier-1 capital 59.7 56.0 57.6 Balance sheet total 1,241.7 1,235.3 1,235.3 Prudential restatements -81.1 - 88.8 -88.8 Prudential balance sheet total3 1,160.6 1,146.5 1,146.5 Adjustments related to exposure to
Slide 54: Financial conglomerate
ANNEXES Financial conglomerate CRR/CRD IV2 Restatements Financial viewpoint conglomerate viewpoint Financial conglomerate ratio -1.5 Banking CR1 Total capital (CRR/CRD IV) (in €bn) 74.0 72,5 72,5 72,5 72.5 Regulatory + capital > Insurance CR1 (Solvency 2) 1 2 3 - Restatements applied +4.2 45.4 1 shi
Slide 55: Liquidity
ANNEXES Liquidity Group customer loan/deposit ratio1 138% 128%2 126%3 121% 4 119% 5 120% 120% Dec. 2011 Dec. 2012 Dec. 2013 Dec. 2014 Dec. 2015 Dec. 2016 Dec. 2017 1 Excluding SCF (Compagnie de Financement Foncier, the Group’s société de crédit foncier – a French legal covered bonds issuer) 2 Cha
Slide 56: Medium-/long-term issuance program 2017
ANNEXES Medium-/long-term issuance program Landmark bond issues – 2017 ʘ Long issue of BPCE SFH covered bonds ʘ Emission de covered bonds de €1bn of 12-year bonds issued BPCE SFH with a 1.08% return for investors, contributing to the optimal funding €1bn of 10.5-year bonds issued with of home loans
Slide 57: Medium-/long-term issuance program January 2018
ANNEXES Medium-/long-term issuance program Landmark bond issues – January 2018 ʘ Issue of senior ʘ Samurai issue of senior non-preferred debt preferred debt €1bn of 6-year bonds and ¥52.9bn (€390m) of 5-, 7- and 10-year bonds €750m of 10-year bonds issued under tight conditions and with a Jan. 18, J
Slide 58: Selection of awards and ranking
ANNEXES Selection of awards and ranking Issuer awards Best Samurai Deal of the Best Samurai Yen Bond of Issuer in 2016 Year for Issuer the Year 2017 Healthcare Bonds April 3, 2017 September 7, 2017 December 14, 2017 December 15, 2017 Corporate & Investment Banking Asset & Wealth Management #4 for M&
Slide 59: Retail Banking & Insurance: 2017 income statement
ANNEXES Retail Banking & Insurance: 2017 income statement Specialized Financial Retail Banking and Banque Populaire banks Caisses d'Epargne Insurance Other networks Services Insurance in millions of euros 2017 2016 % 2017 2016 % 2017 2016 pf % 2017 2016 pf % 2017 2016 % 2017 2016 pf % Net banking in
Slide 60: Retail Banking & Insurance: Q4-17 income statement
ANNEXES Retail Banking & Insurance: Q4-17 income statement Specialized Financial Retail Banking and Banque Populaire banks Caisses d'Epargne Insurance Other networks Services Insurance in millions of euros Q4-17 Q4-16 pf % Q4-17 Q4-16 pf % Q4-17 Q4-16 pf % Q4-17 Q4-16 pf % Q4-17 Q4-16 % Q4-17 Q4-16
Slide 61: Retail Banking & Insurance: quarterly series
ANNEXES Retail Banking & Insurance: quarterly series Retail Banking and Insurance Q1-16 pf Q2-16 pf Q3-16 pf Q4-16 pf 2016 pf Q1-17 pf Q2-17 pf Q3-17 pf Q4-17 2017 in millions of euros Net banking income 4,293 4,216 4,166 4,273 16,948 4,299 4,259 4,077 4,038 16,673 Operating expenses -2,944 -2,780 -
Slide 62: Banque Populaire banks and Caisses d'Epargne quarterly series
ANNEXES Retail Banking & Insurance: Banque Populaire banks and Caisses d’Epargne quarterly series Banque Populaire banks Q1-16 pf Q2-16 pf Q3-16 pf Q4-16 pf 2016 Q1-17 Q2-17 Q3-17 Q4-17 2017 in millions of euros Net banking income 1,582 1,583 1,539 1,590 6,295 1,606 1,597 1,562 1,519 6,284 Operating
Slide 63: Retail Banking & Insurance: change in net banking income
ANNEXES Retail Banking & Insurance: change in net banking income Banque Populaire banks1 (in €m) Caisses d’Epargne (in €m) -1.1% +0.4% 7,215 7,133 Change Change 6,295 6,322 187 210 +23 115 145 +30 2,803 2,878 2,338 2,464 +75 +126 33 41 19 39 -127 4,193 4,026 -166 3,801 3,674 2016 2017 2016 2017 1 Af
Slide 64: Banque Populaire network
ANNEXES Retail Banking & Insurance: Banque Populaire network Deposits & savings (in €bn) Loan outstandings (in €bn) Change YoY Change YoY +7.0% +7.7% 257.6 240.6 229.5 196.1 +17.9% Demand deposits 82.0 182.2 69.6 172.6 61.7 +7.5% Passbook savings accounts +9.3% Home loans 110.7 44.2 45.9 49.3 +5.9%
Slide 65: Caisse d'Epargne network
ANNEXES Retail Banking & Insurance: Caisse d’Epargne network Deposits & savings (in €bn) Loan outstandings (in €bn) Change YoY Change YoY 412.4 +3.2% +7.3% 398.7 399.7 55.4 59.5 68.6 Demand deposits +15.4% 253.3 236.0 +2.0% Passbook savings 224.6 122.9 120.3 122.7 accounts +8.0% Home loans +2.5% Reg
Slide 66: SFS quarterly series
ANNEXES Retail Banking & Insurance: SFS quarterly series Specialized Financial Services Q1-16 pf Q2-16 pf Q3-16 pf Q4-16 pf 2016 pf Q1-17 pf Q2-17 pf Q3-17 pf Q4-17 2017 in millions of euros Net banking income 343 342 325 341 1,352 344 347 341 350 1,382 Operating expenses -226 -222 -216 -221 -885 -2
Slide 67: Insurance quarterly series
ANNEXES Retail Banking & Insurance: Insurance quarterly series Insurance Q1-16 pf Q2-16 pf Q3-16 pf Q4-16 pf 2016 pf Q1-17 pf Q2-17 pf Q3-17 pf Q4-17 2017 in millions of euros Net banking income 169 158 157 171 655 189 179 176 190 734 Operating expenses -99 -88 -89 -102 -378 -129 -102 -99 -109 -439
Slide 68: Other networks quarterly series
ANNEXES Retail Banking & Insurance: Other networks quarterly series Other networks Q1-16 pf Q2-16 pf Q3-16 pf Q4-16 2016 Q1-17 Q2-17 Q3-17 Q4-17 2017 in millions of euros Net banking income 346 348 356 380 1,431 344 335 279 229 1,187 Operating expenses -251 -225 -218 -240 -933 -255 -227 -182 -242 -9
Slide 69: Asset & Wealth Management quarterly series
ANNEXES Asset & Wealth Management: quarterly series Asset & Wealth Management Q1-16 pf Q2-16 pf Q3-16 pf Q4-16 pf 2016 pf Q1-17 pf Q2-17 pf Q3-17 pf Q4-17 2017 in millions of euros Net banking income 658 676 649 735 2,718 704 743 766 899 3,113 Operating expenses -493 -493 -471 -523 -1,981 -519 -521
Slide 70: Corporate & Investment Banking quarterly series
ANNEXES Corporate & Investment Banking: quarterly series Corporate & Investment Banking Q1-16 pf Q2-16 pf Q3-16 pf Q4-16 pf 2016 pf Q1-17 pf Q2-17 pf Q3-17 pf Q4-17 2017 in millions of euros Net banking income 769 874 744 883 3,270 971 1,019 775 817 3,581 Operating expenses -515 -486 -472 -573 -2,04
Slide 71: Corporate center quarterly series
ANNEXES Corporate center: quarterly series Corporate center Q1-16 pf Q2-16 pf Q3-16 pf Q4-16 pf 2016 pf Q1-17 pf Q2-17 pf Q3-17 pf Q4-17 2017 in millions of euros Net banking income 12 900 153 158 1,222 88 31 69 164 352 Operating expenses -452 -285 -228 -320 -1,286 -505 -237 -230 -264 -1,236 Gross o
Slide 72: Non-performing loans and impairment
ANNEXES Non-performing loans and impairment Dec. 31, 2017 Dec. 31, 2016 Dec. 31, 2015 In millions of euros Gross outstanding customer loans 704,905 679,176 629,775 O/w non-performing loans 22,918 23,427 23,098 Non-performing/gross outstanding loans 3.3% 3.4% 3.7% Impairment recognized1 11,777 12,278
Slide 73: Breakdown of commitments at December 31, 2017
ANNEXES Breakdown of commitments at December 31, 2017 Breakdown per counterparty Breakdown per geographical region 5% Financial institutions/local Central administrations/Central banks and 27% government market other sovereign exposures 8% 6% 1% 1% 2% 10% 7% 4% 14% €1,130bn 15% 16% 7% 46% 1% 67% 30%
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