Natixis — Groupe BPCE — H1 2020 Earnings Presentation
72 slides from Natixis's earnings presentation, Aug 3, 2020
Slide 1: Results for the 2nd quarter and 1st half of 2020
Results for the 2nd quarter and 1st half of 2020 August 3, 2020
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 has proved its robustness in times of crisis
Groupe BPCE has proved its robustness in times of crisis and its ability to pursue dynamic business development Strong capital and liquidity positions, largely above regulatory requirements Capital & liquidity CET1 ratio: 15.6%(1), +480bps over MDA positions LCR managed at a high level: 156%(2) Reve
Slide 4: Results of Groupe BPCE, Capital and liquidity, Results of the business lines
1 Results of Groupe BPCE 2 Capital and liquidity 3 Results of the business lines 4 Conclusion 4 RESULTS FOR 2ND QUARTER AND 1ST HALF OF 2020
Slide 5: Q2-20 & H1-20 results – Restated figures
Q2-20 & H1-20 results – Restated figures Restated figures Q2-20 Q2-19 % Change H1-20 H1-19 % Change €m Net banking income 5,183 5,935 (12.7)% 10,726 11,713 (8.4)% Operating expenses (3,837) (4,051) (5.3)% (8,383) (8,614) (2.7)% o/w expenses excluding SRF (7,983) (8,238) (3.1)% Gross operating income
Slide 6: Q2-20 & H1-20 results – Exceptional items
Q2-20 & H1-20 results – Exceptional items After the successful implementation of the Digital Inside strategy, disposal of Fidor engaged €m Q2-20 Q2-19 H1-20 H1-19 Revaluation of assets associated with DSN Net banking income Corporate center 2 (4) 1 denominated in foreign currencies Contribution to t
Slide 7: Q2-20 & H1-20 results – Underlying figures
Q2-20 & H1-20 results – Underlying figures Impacts of the crisis on revenues; very tight cost control Prudent forward-looking provisioning leading to sharp increase in cost of risk Underlying figures Q2-20 Q2-19 % Change H1-20 H1-19 % Change €m Net banking income 5,190 5,939 (12.6)% 10,742 11,712 (8
Slide 8: Q2-20 & H1-20 results – Operating expenses
Q2-20 & H1-20 results – Operating expenses Focus on cost savings and flexibility OPERATING EXPENSES(1) in €m % Change Q2-20/Q2-19 H1-20/H1-19 Retail Banking 2,239 ʘ Decrease in the two networks mainly driven by all initiatives BP & CE networks (6.7)% (3.2)% 2,090 taken to enhanced cost synergies 151
Slide 9: Q2-20 & H1-20 results – Cost of risk/Asset quality (1/2)
Q2-20 & H1-20 results – Cost of risk/Asset quality (1/2) Sharp increase in cost of risk reflecting prudent forward-looking provisioning COST OF RISK(1) (in bps) 45 34 21 23 16 Cost of risk NPL ratio RB&I 8 19 16 13 22 17 18 €1,484m 2.7% x2.4 vs. H1-19 stable vs. Dec.19 163 144 123 45 30 13 110 117 1
Slide 10: Q2-20 & H1-20 results – Cost of risk/Asset quality (2/2)
Q2-20 & H1-20 results – Cost of risk/Asset quality (2/2) Limited exposures to sensitive sectors Diversified portfolio Exposure to sectors considered to be sensitive Breakdown of gross exposure per Corporate and small business Group exposures(2) counterparty at June 30, 2020(1) State-guaranteed loans
Slide 11: Digital: higher pace of adoption of digital services
Digital Higher pace of adoption and appropriation of digital services by our customers 1st banking group to offer electronic signature H1-20 key figures for State-guaranteed loans MORE THAN 64,000 STATE-GUARANTEED LOANS SIGNED ONLINE (at the end of June 2020) 4.4/5 stable 76.4% + 1.5pp vs. Dec.19 ʘ
Slide 12: Results of Groupe BPCE, Capital and liquidity, Results of the business lines
1 Results of Groupe BPCE 2 Capital and liquidity 3 Results of the business lines 4 Conclusion 12 RESULTS FOR 2ND QUARTER AND 1ST HALF OF 2020
Slide 13: Capital and Loss-absorbing Capacity
Capital and Loss-absorbing Capacity Strong capital and loss-absorbing positions, largely above regulatory requirements CHANGE IN THE CET1 RATIO (in bps) 15.5% +1bp +8bps 15.6%(1) +3bps +9bps +3bps Requirements Requirements Actual levels Dec. 31, 2019 June 2020 as of (32)bps 15.4%(2) at Jan. 1, June
Slide 14: Liquidity
Liquidity MLT funding plan slightly revised downward to take account of the context; approx. 70% completed YTD(1,2) MLT wholesale funding: revised 2020 plan ʘ €17bn to €18bn(1) Structure of MLT wholesale funding €2.6bn of senior non-preferred debt raised YTD(3) €5.4bn of senior preferred debt
Slide 15: Results of Groupe BPCE, Capital and liquidity, Results of the business lines
1 Results of Groupe BPCE 2 Capital and liquidity 3 Results of the business lines 4 Conclusion 15 RESULTS FOR 2ND QUARTER AND 1ST HALF OF 2020
Slide 16: Retail Banking & Insurance
Retail Banking & Insurance Increased revenues in H1-20 and very tight cost control; H1-20 GOI up 2% Low incurred cost of risk, but prudent forward-looking provisioning Loan outstandings: €609bn, +10.4% YoY On-balance sheet deposits & savings(2): o/w residential mortgages +7.6% YoY €509bn, +14.9% YoY
Slide 17: Retail Banking & Insurance – Banques Populaires
Retail Banking & Insurance – Banques Populaires Good business recovery after lockdown LOAN OUTSTANDINGS in €bn YOY CHANGE IN WEEKLY AVG. PRODUCTION(1) DEPOSITS & SAVINGS in €bn 23% +12.0% 313 +12.6% 10% Residential mortgages 5% in €m 279 244 17% 3% 75 Consumer loans Off-balance sheet D&S 75 217 in m
Slide 18: Retail Banking & Insurance – Caisses d’Epargne
Retail Banking & Insurance – Caisses d’Epargne GOI +10.5% in Q2-20 thanks to positive jaws effect LOAN OUTSTANDINGS in €bn YOY CHANGE IN WEEKLY AVG. PRODUCTION(1) DEPOSITS & SAVINGS in €bn 36% +7.9% 467 +8.8% 433 Residential mortgages 305 (6)% (4)% in €m 134 280 4% 21% Consumer loans Off-balance she
Slide 19: Retail Banking & Insurance – Financial Solutions & Expertise
Retail Banking & Insurance – Financial Solutions & Expertise Dynamic activity with the BP and CE retail networks Positive jaws effect in H1-20 thanks to strict cost control Breakdown of revenues per business line in H1-20 Business activities ʘ Consumer credit: after a sharp drop in activity during t
Slide 20: Retail Banking & Insurance - Insurance
Retail Banking & Insurance - Insurance Scope: Insurance division of Natixis Growth profile driven by the development of the P&C insurance business and solid profitability Life(1) and Personal protection insurance Premiums(1) In €bn Life insurance AuMs(2) ʘ Total AuMs at €69.4bn at end-June 2020 68.4
Slide 21: Retail Banking & Insurance – Payments / Oney Bank
Retail Banking & Insurance – Payments / Oney Bank PAYMENTS Scope: Payments division of Natixis Net revenues impacted by lockdown measures in France in April/May; commercial activity back to normalized levels across most business lines Underlying figures(1) Q2-20 % Change H1-20 % Change in June: €m ʘ
Slide 22: Asset & Wealth Management
Asset & Wealth Management Net inflows at approx. €16bn; AuM back above €900bn; strong cost flexibility AM net inflows(1) : approx. €16bn in Q2-20 Assets under management(1) (in €bn) ʘ North American affiliates: approx. €7bn net inflows essentially across Controlled fixed income and growth equity str
Slide 23: Corporate & Investment Banking
Corporate & Investment Banking Dividend cancellation risk now fully accounted for; strong cost flexibility Net revenues(1) (in €m) Equity 901 ʘ €(174)m revenues in Q2-20 due to €(143)m of mark downs coming from 844 dividend cancellations, together with low client activity during lockdown 794 145 741
Slide 24: Results of Groupe BPCE, Capital and liquidity, Results of the business lines
1 Results of Groupe BPCE 2 Capital and liquidity 3 Results of the business lines 4 Conclusion 24 RESULTS FOR 2ND QUARTER AND 1ST HALF OF 2020
Slide 25: Groupe BPCE committed to society
Groupe BPCE committed to society Leading our business in a responsible and sustainable way Supporting our customers in the Covid-19 crisis Committed to biodiversity and the environment Supporting small businesses and corporate customers … Strengthening fossil fuel exclusion policies ʘ State-guarante
Slide 26: Conclusion
Conclusion Groupe BPCE has proved its robustness in times of crisis and its ability to pursue dynamic business development Solid capital and liquidity positions Return to dynamic levels of activity after the end of lockdown Proven cost flexibility Prudent forward-looking provisioning policy Major st
Slide 27: Annexes
Annexes 27 RESULTS FOR THE 2ND QUARTER AND 1ST HALF OF 2020
Slide 28: Annexes Content
Annexes Content Consolidated results of Groupe BPCE Retail Banking & Insurance ʘ Note on methodology ʘ Income statement and quarterly series ʘ Reconciliation of restated data to reported data ʘ Banque Populaire and Caisse d’Epargne – quarterly series ʘ Income statement: reconciliation of alternative
Slide 29: Note on methodology (1/4)
Annexes Note on methodology (1/4) Presentation of restated quarterly results Restatement of the impact of IFRIC 21 Following the project announced on February 25, 2020 for the sale of a The results, cost/income ratios and ROE, after being restated 29.5% stake in Coface and for financial communicatio
Slide 30: Note on methodology (2/4)
Annexes Note on methodology (2/4) Operating expenses Digital indicators The operating expenses correspond to the aggregate total of the “Operating Expenses” (as presented in the Group’s registration The number of users of BP/CE apps corresponds to the number of document, note 4.7 appended to the con
Slide 31: Note on methodology (3/4)
Annexes Note on methodology (3/4) Capital adequacy This amount is comprised of the following 4 items: Common Equity Tier 1 is determined in accordance with the applicable ʘ Common Equity Tier 1 in accordance with the applicable CRR/CRD IV rules, after deduction, following the instructions of the CRR
Slide 32: Note on methodology (4/4)
Annexes Note on methodology (4/4) Liquidity Total liquidity reserves comprise the following: ʘ Central bank-eligible assets include: ECB-eligible securities not eligible for the LCR, taken for their ECB valuation (after ECB haircut), securities retained (securitization and covered bonds) that are av
Slide 33: Reconciliation of restated data to reported data (1/2)
Annexes Reconciliation of restated data to reported data (1/2) GROUPE GROUPE BPCE BPCE In millions of euros Q2-20 Coface Q2-20 Q2-19 Coface Q2-19 reported restated reported restated Net banking income 5,183 5,183 6,116 (181) 5,935 Operating expenses (3,837) (3,837) (4,180) 129 (4,051) Gross operatin
Slide 34: Reconciliation of restated data to reported data (2/2)
Annexes Reconciliation of restated data to reported data (2/2) GROUPE GROUPE BPCE BPCE In millions of euros H1-20 Coface H1-20 H1-19 Coface H1-19 reported restated reported restated Net banking income 10,726 10,726 12,069 (356) 11,713 Operating expenses (8,383) (8,383) (8,866) 252 (8,614) Gross oper
Slide 35: Restated Q2-20 results excluding Coface
Annexes Restated Q2-20 results excluding Coface: reconciliation of alternative performance measures to reported data Net Operating Share in Gains or Income Net Coface net Net banking expenses net income losses before tax income income income income of on other - Group - Group associates assets share
Slide 36: Restated Q2-19 results excluding Coface
Annexes Restated Q2-19 results excluding Coface: reconciliation of alternative performance measures to reported data Net Operating Income Net income Coface net Net income banking expenses before tax - Group income - Group income share share excluding including In millions of euros Coface Coface Rest
Slide 37: Restated H1-20 results excluding Coface
Annexes Restated H1-20 results excluding Coface: reconciliation of alternative performance measures to reported data Net banking Operating Share in net Gains or Income Net income Coface net Net income income expenses income losses before tax - Group income - Group of on other share share associates
Slide 38: Restated H1-19 results excluding Coface
Annexes Restated H1-19 results excluding Coface: reconciliation of alternative performance measures to reported data Net Operating Cost of Share in Gains or Goodwill Income Net income Coface net Net income banking expenses risk income of losses before tax - Group income - Group income equity- on oth
Slide 39: Exceptional items and IFRIC 21 effects per business line (1/2)
Annexes Exceptional items and IFRIC 21 effects per business line (1/2) Q2-20 RETAIL BANKING AWM CIB CORPORATE GROUPE BPCE In millions of euros & INSURANCE CENTER Impact of exceptional items (39) (7) 0 (183) (229) (excl. Coface) Impact of IFRIC 21 29 1 9 89 129 Total impact on Income before tax (10)
Slide 40: Exceptional items and IFRIC 21 effects per business line (2/2)
Annexes Exceptional items and IFRIC 21 effects per business line (2/2) H1-20 RETAIL BANKING AWM CIB CORPORATE GROUPE BPCE In millions of euros & INSURANCE CENTER Impact of exceptional items (93) (7) 0 (214) (314) (excl. Coface) Impact of IFRIC 21 (61) (3) (19) (214) (297) Total impact on Income befo
Slide 41: Restated quarterly income statement per business line
Annexes Groupe BPCE: restated quarterly income statement per business line CORPORATE RETAIL BANKING ASSET & WEALTH CORPORATE GROUPE & INVESTMENT & INSURANCE MANAGEMENT CENTER BPCE BANKING Restated figures Q2-20 Q2-19 Q2-20 Q2-19 Q2-20 Q2-19 Q2-20 Q2-19 Q2-20 Q2-19 % In millions of euros Net banking
Slide 42: Restated income statement per business line
Annexes Groupe BPCE: restated income statement per business line CORPORATE RETAIL BANKING ASSET & WEALTH CORPORATE GROUPE & INVESTMENT & INSURANCE MANAGEMENT CENTER BPCE BANKING Restated figures H1-20 H1-19 H1-20 H1-19 H1-20 H1-19 H1-20 H1-19 H1-20 H1-19 % In millions of euros Net banking income 8,2
Slide 43: Groupe BPCE: restated quarterly series
Annexes Groupe BPCE: restated quarterly series GROUPE BPCE Restated figures Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 In millions of euros Net banking income 5,778 5,935 5,757 6,123 5,543 5,183 Operating expenses (4,563) (4,051) (4,011) (4,441) (4,546) (3,837) Gross operating income 1,215 1,884 1,746 1,68
Slide 44: Consolidated balance sheet
Annexes Consolidated balance sheet ASSETS LIABILITIES June 30, 2020 Dec. 31, 2019 June 30, 2020 Dec. 31, 2019 (in millions of euros) (in millions of euros) Cash and amounts due from central banks 147,133 80,244 Amounts due to central banks Financial assets at fair value through profit or loss 201,13
Slide 45: Goodwill
Annexes Goodwill 12/31/2019 Disposals Conversion 06/30/2020 In millions of euros Retail Banking & Insurance entities 1,329 (281) 1,048 Asset & Wealth Management entities 3,192 (4) 3,188 Corporate & Investment Banking entities 144 (3) 141 Total 4,665 (281) (7) 4,376 45 RESULTS FOR 2ND QUARTER AND 1ST
Slide 46: Statement of changes in shareholders' equity
Annexes Statement of changes in shareholders' equity Equity attributable to equity In millions of euros holders of the parent December 31, 2019 69,909 Distributions (337) Capital increase (cooperative shares) 204 Impact of acquisitions and disposals on non-controlling interests (minority interests)
Slide 47: Financial structure: changes in regulatory capital and fully-loaded ratios
Annexes Financial structure: changes in regulatory capital and fully-loaded ratios Reconciliation of shareholders’ equity to total capital(1) Regulatory capital(1) (in €bn) 79.6 78.4 In billions of euros June 30, 2020 Dec.31, 2019 13.6 12.2 Equity attribuable to equity holders of the parent 70.0 69.
Slide 48: Financial structure: MDA
Annexes Financial structure: MDA Already significant buffer over MDA increased by 63 bps due to regulatory decisions Of which, cancellation or reduction of CCyBs (notably France and UK): 22bps benefit Of which, application of article 104a of CRD5: 44bps benefit on previous 1.75% P2R 15.6% 15.6(2)% B
Slide 49: Financial structure: prudential ratios and credit ratings
Annexes Financial structure: prudential ratios and credit ratings Long-term SENIOR PREFERRED credit ratings June 30, 2020(1)(2) Dec. 31, 2019(1) Dec. 31, 2018(3) (August 3, 2020) Total risk-weighed assets €430bn €422bn €392bn A+ rating watch negative Common Equity Tier-1 capital €66.2bn €66.0bn €62.
Slide 50: TLAC / MREL ratio
Annexes TLAC / MREL ratio TLAC(1,2) RATIO (as a % of risk-weighted assets) MREL(1,2) RATIO (as a % of risk-weighted assets) 30.2% 24.9% 6.9% 23.4% 4.5% 19.5% 4.5% Eligible Senior preferred debt Senior non-preferred 3.2% Senior non-preferred 3.2% Tier 2 Tier 2 Additional Tier 1 Additional Tier 1 CET1
Slide 51: Risk-weighed assets
Annexes Risk-weighed assets BREAKDOWN PER BUSINESS LINE (in €bn) BREAKDOWN PER TYPE OF RISK(1) (in €bn) 422 430 422 430 15% 13% Other 9% 9% 3% 5% 15% 16% 3% 3% Corporate & Operational Risk Investment Banking Market Risk 88% 86% 67% 68% Asset & Wealth Credit Risk Management Retail Banking & Insurance
Slide 52: Leverage ratio
Annexes Leverage ratio(1) 06/30/2020 12/31/2019 In billions of euros Tier-1 capital 66.2 66.0 Balance sheet total 1,433.4 1,338.1 Prudential restatements (114.4) (112.9) Prudential balance sheet total(2) 1,319.0 1,225.2 Adjustments related to exposure to derivates (4) (45.4) (38.3) Adjustments relat
Slide 53: Financial conglomerate
Annexes Financial conglomerate FINANCIAL CONGLOMERATE RATIO CRR/CRD IV(2) viewpoint Restatements Financial conglomerate viewpoint +0.4 Banking CR (1) (CRR/CRD IV) Regulatory capital + Total capital (in €bn) 78.4 78,4 78,8 78,8 78.8 Insurance CR(1) (Solvency 2) RESTATEMENTS APPLIED - 1 2 3 +5.0 63.3
Slide 54: Liquidity reserves and short-term funding
Annexes Liquidity reserves and short-term funding TOTAL LIQUIDITY RESERVES OF GROUPE BPCE(1) SHORT-TERM FUNDING AND MLT DEBT MATURING (in €bn) IN THE SHORT TERM (in €bn) 248% 319 188% 155% 247 231 140 21 19 17 81 Cash placed with 69 central banks 127 112 112 LCR securities 80 66 75 Assets eligible f
Slide 55: Retail Banking & Insurance: quarterly income statement
Annexes Retail Banking & Insurance: quarterly income statement BANQUE CAISSE FINANCIAL SOLUTIONS OTHER RETAIL BANKING POPULAIRE D'EPARGNE INSURANCE PAYMENTS & EXPERTISE NETWORKS & INSURANCE NETWORK NETWORK Q2-20 Q2-19 % Q2-20 Q2-19 % Q2-20 Q2-19 % Q2-20 Q2-19 % Q2-20 Q2-19 % Q2-20 Q2-19 % Q2-20 Q2-1
Slide 56: Retail Banking & Insurance: income statement
Annexes Retail Banking & Insurance: income statement BANQUE CAISSE FINANCIAL SOLUTIONS OTHER RETAIL BANKING POPULAIRE D'EPARGNE INSURANCE PAYMENTS & EXPERTISE NETWORKS & INSURANCE NETWORK NETWORK H1-20 H1-19 % H1-20 H1-19 % H1-20 H1-19 % H1-20 H1-19 % H1-20 H1-19 % H1-20 H1-19 % H1-20 H1-19 % In mil
Slide 57: Retail Banking & Insurance: quarterly series
Annexes Retail Banking & Insurance: quarterly series RETAIL BANKING & INSURANCE Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 In millions of euros Net banking income 4,070 4,099 3,972 4,176 4,140 4,074 Operating expenses (2,694) (2,690) (2,596) (2,863) (2,803) (2,585) Gross operating income 1,376 1,408 1,376
Slide 58: Banque Populaire and Caisse d’Epargne networks quarterly series
Annexes Retail Banking & Insurance: Banque Populaire and Caisse d’Epargne networks quarterly series BANQUE POPULAIRE NETWORK Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 In millions of euros Net banking income 1,618 1,626 1,568 1,622 1,602 1,513 Operating expenses (1,086) (1,099) (1,065) (1,106) (1,093) (1,0
Slide 59: Retail Banking & Insurance: deposits & savings and loan outstandings
Annexes Retail Banking & Insurance DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) 796.7 Change YoY Change YoY 728.9 +9.3% +10.4% 235.6 608.9 184.5 551.3 +27.7% Sight deposits 184.6 196.4 Passbook savings accounts 323.0 +6.4% 300.3 +2.4% Regulated home savings plans 79.5 81.4 +10.5% Term acco
Slide 60: Retail Banking & Insurance: Banque Populaire network
Annexes Retail Banking & Insurance: Banque Populaire network DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) Change YoY Change YoY +12.0% +12.6% 312.9 279.3 243.8 216.6 117.4 93.5 +25.6% Sight deposits 134.3 +9.4% Passbook savings accounts 125.5 59.8 54.6 +2.7% Regulated home savings plans 21
Slide 61: Retail Banking & Insurance: Caisse d’Epargne network
Annexes Retail Banking & Insurance: Caisse d’Epargne network DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) Change YoY Change YoY 467.2 +7.9% +8.8% 432.8 109.5 83.6 305.0 280.3 +30.9% Sight deposits 135.6 +5.1% Passbook savings accounts 129.0 +2.3% Regulated home savings plans 184.2 171.5 +1
Slide 62: Retail Banking & Insurance: FSE quarterly series
Annexes Retail Banking & Insurance: FSE quarterly series FINANCIAL SOLUTIONS & EXPERTISE Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 In millions of euros Net banking income 272 279 268 298 290 263 Operating expenses (155) (152) (155) (172) (160) (142) Gross operating income 117 127 113 126 130 121 Cost/inco
Slide 63: Retail Banking & Insurance: Insurance quarterly series
Annexes Retail Banking & Insurance: Insurance quarterly series INSURANCE Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 In millions of euros Net banking income 218 207 205 216 221 228 Operating expenses (125) (116) (112) (125) (134) (117) Gross operating income 93 92 93 90 87 112 Cost/income ratio 57.5% 55.8%
Slide 64: Retail Banking & Insurance: Payments quarterly series
Annexes Retail Banking & Insurance: Payments quarterly series PAYMENTS Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 In millions of euros Net banking income 103 105 103 111 113 86 Operating expenses (88) (94) (93) (96) (94) (96) Gross operating income 16 11 10 15 18 (10) Cost/income ratio 84.8% 89.6% 90.1% 86
Slide 65: Retail Banking & Insurance: Other networks quarterly series
Annexes Retail Banking & Insurance: Other networks quarterly series OTHER NETWORKS Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 In millions of euros Net banking income 81 81 84 203 199 191 Operating expenses (58) (64) (60) (147) (143) (124) Gross operating income 24 17 25 56 56 67 Cost/income ratio 70.9% 79.
Slide 66: Asset & Wealth Management: quarterly series
Annexes Asset & Wealth Management: quarterly series ASSET & WEALTH MANAGEMENT Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 In millions of euros Net banking income 773 932 945 1,109 774 704 Operating expenses (558) (605) (648) (681) (579) (537) Gross operating income 216 327 297 428 195 167 Cost/income ratio
Slide 67: Corporate & Investment Banking: quarterly series
Annexes Corporate & Investment Banking: quarterly series CORPORATE & INVESTMENT BANKING Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 In millions of euros Net banking income 807 847 784 899 688 519 Operating expenses (582) (523) (527) (602) (557) (477) Gross operating income 225 324 256 297 130 42 Cost/income
Slide 68: Corporate center: restated quarterly series
Annexes Corporate center: restated quarterly series CORPORATE CENTER Restated figures Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 In millions of euros Net banking income 127 57 56 (61) (58) (115) Operating expenses (729) (232) (239) (295) (606) (238) Gross operating income (601) (175) (183) (356) (665) (353
Slide 69: Non-performing loans and impairments
Annexes Non-performing loans and impairments June 30, 2020 Dec.31, 2019 Dec. 31, 2018 In billions of euros Gross outstanding loans to customers and credit institutions 833.1 795.8 763.1 O/w S3 outstandings 22.5 21.6 21.5 Non-performing/gross outstanding loans 2.7% 2.7% 2.8% S3 impairments recognized
Slide 70: Cost of risk by business lines
Annexes Cost of risk by business lines COST OF RISK(1) (in bps) 49 27 20 BP network 22 9 22 17 15 19 11 37 CE network 16 21 17 13 16 7 16 12 9 45 21 23 RB&I 8 19 16 18 20 13 22 163 123 45 13 CIB 110 117 63 73 19 37 55 23 29 8 Groupe BPCE 22 21 32 17 19 19 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Covid-19
Slide 71: Breakdown of gross exposure at June 30, 2020
Annexes Breakdown of gross exposure at June 30, 2020(1) BREAKDOWN PER COUNTERPARTY BREAKDOWN PER GEOGRAPHICAL REGION Financial institutions/local Central administrations/ Corporate governments Central banks and other customers sovereign exposures 4% 4% 1% 1% 3% 5% 3% 26% 7% 7% 10% 7% 9% 4% 14% 26% 1
Slide 72: groupebpce.com
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