Natixis — Groupe BPCE — FY2023 Earnings Presentation
77 slides from Natixis's earnings presentation, February 2024
Slide 1: Results
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Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements and comments relating to Preparation of the financial information requires Management to make estimates and the objectives and strategy of Groupe BPCE. By their very nature, these forward- assumptions in certain areas regarding unce
Slide 3: Client conquest; tight cost control; increase in solvency, at the best standard in Europe
Client conquest; tight cost control; increase in solvency, at the best standard in Europe DEVELOPMENTS PERFORMANCE STRENGTHS RB&I Net revenues €22.2bn in 2023, Further increase in solvency Strong commercial performance achieved by BP & CE networks -7% YoY 925,000 new clients(1) YTD across all segmen
Slide 4: Strong expansion in client base
Strong expansion in client base Retail Banking & Insurance Global Financial Services Strong conquest momentum leading One step further in strategic diversification to client base expansion CIB 786,000 new individual clients YTD US as the 2nd largest market; developing other 122,000 new professional
Slide 5: Mobilized to support the major transformations
Mobilized to support the major transformations Environmental transition Social impact Net Zero Banking Alliance Impact Loan The Group has published new 2030 targets for 3 sectors: By the end of 2023, Caisse d'Epargne will have exceeded €1.5 billion automotive, steel and cement (Natixis CIB scope) in
Slide 6: Groupe BPCE results / Capital and liquidity / Business line results
01 Groupe BPCE results Capital and liquidity Business line results Conclusion
Slide 7: Results: reported net banking income
Results: reported net banking income RETAIL BANKING & INSURANCE in €m GLOBAL FINANCIAL SERVICES in €m (8)% +2% (12)% 16,198 14,824 13,375 +11% x1.6 (2)% +7% (4)% 7,230 11,716 at constant scope(1) 7,111 1,145 1,274 925 816 3,759 4,026 633 3,352 3,205 407 BP & CE networks FSE Insurance Digital & RB&I
Slide 8: Results: reported operating expenses
Results: reported operating expenses BEST-IN-CLASS IN COST CONTROL Operating expenses in €m (2)% 16,638 22 129 9 (124) (4) (97) 16,328 (44) (47) (154) 2022 BP & CE FSE Insurance Digital & Other network AWM CIB Corporate SRF 2023 (1) networks Payments center contribution Very good cost management, su
Slide 9: Results: reported cost of risk/asset quality
Results: reported cost of risk/asset quality Stage 3 Stage 1/Stage 2 COST OF RISK TOTAL PROVISIONS(2) (in €bn) COST OF RISK REFLECTING THE PRUDENT PROVISIONING In bps(1) POLICY OVER THE PAST YEARS 37 35 22 25 21 14.2 14.3 17 30 13.8 14 13.5 RB&I 14 21 5 11 23 12.9 (5) (2) 8.8 9.1 Increase in Stage 3
Slide 10: Results: reported Group P&L
Results: reported Group P&L % Change % Change €m Q4-23 Q4-22 2023 2022 vs. Q4-22 vs. 2022 Net revenues at €22.2bn in 2023, down 7% vs. 2022 and at €5.5bn Net banking income 5,462 5,844 (7)% 22,198 23,959 (7)% in Q4-23, stable QoQ and down 7% YoY Operating expenses (4,129) (4,233) (2)% (16,328) (16,6
Slide 11: Groupe BPCE results / Capital and liquidity / Business line results
Groupe BPCE results Capital and liquidity Business line results Conclusion
Slide 12: Capital and Loss-absorbing Capacity
Capital and Loss-absorbing Capacity FURTHER INCREASE IN SOLVENCY, AT THE BEST STANDARD Change in the CET 1 ratio (in bps) Actual level Requirements Organic capital creation +53bps January 2, as at December 31, 2024 2023(1) +3bps 15.6%(1) 15.4% +9bps +1bp +4bps CET1 ratio 10.46%(3) 15.6% (ECB) 15.4%
Slide 13: Liquidity: 34% of 2024 funding plan already completed
Liquidity: 34% of 2024 funding plan already completed(1) Structure of MLT wholesale funding(3) raised in 2024 2024 MLT WHOLESALE FUNDING PLAN Unsecured bonds Target: €27.25bn(2) / Raised(2): €9.35bn or 34% 61% 29% ▪ TLAC funding Covered bonds Target: €8.5bn (€2bn Tier 2 / €6.5bn SNP) Raised (2): €3.
Slide 14: Groupe BPCE results / Capital and liquidity / Business line results
Groupe BPCE results Capital and liquidity Business line results Conclusion
Slide 15: Retail Banking & Insurance: Banques Populaires
Retail Banking & Insurance Banques Populaires LOAN OUTSTANDINGS in €bn PRODUCTION 2023 vs. 2022 VERY DYNAMIC NEW EQUIPMENT LOAN PRODUCTION +28% IN Q4-23 QoQ, 30 14 Residential mortgages (54)% In €bn SUPPORTING COMPANIES IN THIS MORE +1% CHALLENGING CONTEXT 298 301 3.2% +1.8pp Average rate (%) 1.4% 7
Slide 16: Retail Banking & Insurance: Caisses d'Epargne
Retail Banking & Insurance Caisses d’Epargne LOAN OUTSTANDINGS in €bn PRODUCTION 2023 vs. 2022 +7% OF PERSONAL LOAN OUTSTANDINGS 38 SUPPORTING THE PURCHASE POWER OF 24 (37)% Residential mortgages INDIVIDUAL CLIENTS +4% In €bn 360 372 3.4% +1.9pp Average rate (%) 1.5% 428,800 new individual clients(1
Slide 17: Retail Banking & Insurance: Financial Solutions & Expertise
Retail Banking & Insurance Financial Solutions & Expertise % % BREAKDOWN OF REVENUES PER BUSINESS LINE in 2023 €m(1) Q4-23 Change 2023 Change Net banking income 335 23% 1,274 11% Consumer credit Operating expenses (167) 1% (630) 4% 24% 22% Leasing Gross operating income 168 57% 644 20% Factoring Cos
Slide 18: Retail Banking & Insurance: Insurance
Retail Banking & Insurance Insurance(1) LIFE INSURANCE AuM(2) in €bn PREMIUMS(2) in €bn 2023 SOLID NET REVENUE GROWTH DRIVEN BY STRONG COMMERCIAL 5.4 2.4 16.2 +14% MOMENTUM 14.2 0.5 4.3 +13% +5% STRONG SUPPORT TO OUR CLIENTS 3.8 +4% +15% IMPACTED BY THE SEVERE CLIMATIC 92.0 EVENTS IN FRANCE 83.7 +15
Slide 19: Retail Banking & Insurance: Digital & Payments
Retail Banking & Insurance Digital & Payments % Change % Change €m(1) Q4-23 at constant 2023 at constant PAYMENTS scope(2) scope(2) NBI up 6%(2) vs. 2022 and strict control of operating expenses Payment Solutions : dynamic activity (card transactions +8% Net banking income 199 (7)% 816 (2)% YoY vs.
Slide 20: Groupe BPCE continues to innovate on payments and digital and accelerates on data and AI
Groupe BPCE continues to innovate on payments and digital and accelerates on data and AI Group leadership in payments technology innovation First bank to carry out instant account-to-account payment BPCE provided the ticketing transactions with Germany's Sparkasse Elbe-Elster bank using payment syst
Slide 21: Retail Banking & Insurance: Business Line P&L
Retail Banking & Insurance Business Line P&L Loan book expansion in all markets, with an ongoing asset €m(1) Q4-23 % Change 2023 % Change repricing • Residential mortgages: +3% YoY to €402bn Net banking income 3,557 (7)% 14,824 (8)% • Equipment loans: +4% YoY to €193bn • Consumer loans(2): +6% YoY t
Slide 22: Global Financial Services: Corporate & Investment Banking
Global Financial Services Corporate & Investment Banking Revenues at €4bn in 2023, up 7% YoY NET REVENUES(1) in €m GLOBAL MARKETS 4,026 1,038 3,759 1,022 968 997 154 Growth in net revenues in 2023, +2% YoY 935 525 49 40 469 42 23 Equity revenues: €539m, up 1% YoY 9 112 126 179 1,482 148 108 346 372
Slide 23: Global Financial Services: Asset & Wealth Management
Global Financial Services Asset & Wealth Management AuM(1): reached €1,166bn up 8% YTD driven by a large positive ASSETS UNDER MANAGEMENT(1) in €bn market effect AM flows(1): net inflows reached €12.9bn in 2023 (excl. life 113 1,166 insurance and MMF) with a rebalancing from equity to fixed Income p
Slide 24: Global Financial Services: Business Line P&L
Global Financial Services Business Line P&L Constant Constant €m(1) Q4-23 % Change Fx % 2023 % Change Fx % SOLID COMMERCIAL AND FINANCIAL PERFORMANCE change change DELIVERED BY THE GLOBAL BUSINESSES, REVENUES UP 3% IN Q4-23 AND 2023 YOY AT CONSTANT FX Net banking income 1,874 1% 3% 7,230 2% 3% o/w A
Slide 25: Groupe BPCE results / Capital and liquidity / Business line results
Groupe BPCE results Capital and liquidity Business line results Conclusion
Slide 26: Conclusion
Conclusion • Solid commercial performance in RB&I: 925,000 new clients(1) YTD across all segments • 34.1% of clients equipped with in-house P&C products, close to the 2024 strategic target CLIENT BASE • Strong commercial activity in CIB across Global Markets, Global Trade, Investment Banking EXPANSI
Slide 27: Annexes
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Slide 28: 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 29: Précisions méthodologiques (1/5)
Précisions méthodologiques (1/5) Présentation des résultats trimestriels pro forma • La norme IFRS 17 prévoit l’estimation dès l’origine de la marge (CSM – • Le principal retraitement pro forma effectué concerne le passage en Contractual Service Margin) d’un groupe de contrats d’assurance normes IFR
Slide 30: Précisions méthodologiques (2/5)
Précisions méthodologiques (2/5) C r é a t i o n d u p ô l e D i g i t a l & Pa i e m e n t s Produit net bancaire • Les métiers Paiements et Oney ont été regroupés au sein d’un même • La marge nette d’intérêts clientèle hors épargne logement est calculée pôle Digital & Paiements. sur la base des in
Slide 31: Précisions méthodologiques (3/5)
Précisions méthodologiques (3/5) Co û t d u r i s q u e Capacité totale d ’absorption des per tes • Le coût du risque est exprimé en points de base et mesure le niveau de Le montant des passifs éligibles au numérateur du ratio de TLAC risque par pôle métier, en pourcentage du volume des encours de (
Slide 32: Précisions méthodologiques (4/5)
Précisions méthodologiques (4/5) Liquidité Indicateurs métiers – BP et CE Les réserves de liquidité totales comprennent : Taux moyen (%) : le taux client moyen des crédits immobiliers correspond à la moyenne pondérée des taux actuariels des crédits immobiliers engagés, • Les actifs éligibles banques
Slide 33: Précisions méthodologiques (5/5)
Précisions méthodologiques (5/5) Indicateurs digitaux Le nombre de clients actifs sur les applis mobiles ou sites web correspond au nombre de clients ayant effectué au moins une visite sur un des canaux digitaux (applis mobiles ou site web) sur les 12 derniers mois. Les notes sur les boutiques en li
Slide 34: 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 35: 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 36: 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 37: 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 38: 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 39: Q4-23 & Q4-22 results: reconciliation to alternative performance measures
Q4-23 & Q4-22 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 Q4-23 results 5,462 (4,129) (744) (43) 537 381 Business lines/Corporate
Slide 40: 2023 & 2022 results: reconciliation to alternative performance measures
2023 & 2022 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 2023 results 22,198 (16,328) (1,731) 8 4,182 2,804 Business lines/Corpora
Slide 41: 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 Q4-23 reported figures 5,462 (4,129) Impact of exceptional items (5) (54) SRF contribution 0 Q4-23 underlying figures excluding SRF 5,467 (4,076) 74.6 % Unde
Slide 42: 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 2023 reported figures 22,198 (16,328) Impact of exceptional items 89 (213) SRF contribution (457) 2023 underlying figures excluding SRF 22,108 (15,659) 70.8%
Slide 43: 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 Q4-23 Q4-22 Q4-23 Q4-22 Q4-23 Q4-22 Q4-23 Q4-22 % Net banking income 3,557 3,835 1,874 1,865 31 144 5,462 5,844 (7)% Operating expenses (2,497) (2,637) (1,38
Slide 44: Groupe BPCE: 2023 income statement per business line
Groupe BPCE: 2023 income statement per business line RETAIL BANKING GLOBAL FINANCIAL CORPORATE GROUPE & INSURANCE SERVICES CENTER BPCE €m % 2023 2022 2023 2022 2023 2022 2023 2022 Net banking income 14,824 16,198 7,230 7,111 144 650 22,198 23,959 (7)% Operating expenses (9,811) (10,004) (5,253) (5,1
Slide 45: 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 Q4-23 Net banking income 6,149 6,032 5,934 5,844 5,815 5,467 5,455 5,462 Operating expenses (4,585) (3,904) (3,916) (4,233) (4,587) (3,799) (3,812) (4,129) Gross operating income 1,564 2,128 2,019 1,611 1,228 1,66
Slide 46: Consolidated balance sheet
Consolidated balance sheet ASSETS LIABILITIES Dec. 31, 2023 Dec. 31, 2022 Dec. 31, 2023 Dec. 31, 2022 €m €m Cash and amounts due from central banks 152,669 171,318 Amounts due to central banks 2 9 Financial assets at fair value through profit or Financial liabilities at fair value through profit or
Slide 47: 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 48: Goodwill
Goodwill Other Dec. 31, 2022 Acquisitions Disposals Conversion Dec. 31, 2023 changes €m Retail Banking & Insurance entities 754 70 0 0 (1) 822 Asset & Wealth Management 3,307 0 (2) (52) 3 3,257 entities Corporate & Investment Banking 147 (3) 144 entities Total 4,208 70 (2) (55) 2 4,224 48 RESULTS FO
Slide 49: 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 83.4 12.7 12.2 €bn Dec. 31, 2023 Dec. 31, 2022 Tier-2 capital Equity attribuable to shareholders’ equity 84.4 82.1 28.7 29.3 Cooperative shares Cancelation of hybrid securities in equity CET1
Slide 50: Financial structure: distance to MDA
Financial structure: distance to MDA Capital Capital Countercycl Pillar I Pillar II conservation G-SIB Countercyclical Pillar I Pillar II conservation G-SIB ical buffer Jan. 1, 2023 requirement requirement buffer buffer buffer (CCyB) Total Jan. 2, 2024 requirement requirement buffer buffer (CCyB) To
Slide 51: Financial structure: prudential ratios and credit ratings
Financial structure: prudential ratios and credit ratings Dec. 31, 2023(1) Dec. 31, 2022 Dec. 31, 2021 Long-term SENIOR PREFERRED credit ratings (February 7, 2023) Total risk-weighed assets €457bn €461bn €441bn A+ Common Equity Tier-1 stable outlook €71.2bn €69.7bn €69.8bn capital Tier-1 capital €71
Slide 52: 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) 33.4% 8.0% Eligible Senior Preferred debt 25.4% 25.5% 22.0% Senior Non-Preferred 6.3% Senior Non-Preferred 6.3% 3.5% 3.5% Tier 2 Tier 2 CET1 CET1 15.6% 15.6% 2023 TLAC Dec. 31, 2023 20
Slide 53: 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 Dec. 31, 2023 Dec. 31, 2022 Dec
Slide 54: Leverage ratio
Leverage ratio €bn Dec. 31, 2023(1) Dec. 31, 2022 Tier-1 capital 71.2 69.7 Balance sheet total(2) 1,539.3 1,530.5 Prudential restatements (105.6) (127.0) Prudential balance sheet total(2) 1,433.7 1,403.5 Adjustments related to exposure to derivates (3) (18.1) (26.3) Adjustments related to security f
Slide 55: Financial conglomerate
Financial conglomerate Financial conglomerate FINANCIAL CONGLOMERATE RATIO CRR/CRD IV(2) Restatements viewpoint viewpoint +4.7 Banking CR (1) (CRR/CRD IV) Regulatory capital + Total capital 88.1 Insurance CR(1) (Solvency 2) (in €bn) 83.4 RESTATEMENTS APPLIED - 1 2 3 +4.8 72.4 Shift from a Cancellati
Slide 56: 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 322 335 302 178% 289 161% 150% 147% 1
Slide 57: 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 Q4-23 Q4-22 % Q4-23 Q4-22 % Q4-23 Q4-22 % Q4-23 Q4-22 % Q4-23 Q4-22 % Q4-23 Q4-22 % Q4-23
Slide 58: Retail Banking & Insurance: 2023 income statement
Retail Banking & Insurance: 2023 income statement BANQUE POPULAIRE CAISSE D'EPARGNE FINANCIAL SOLUTIONS & RETAIL BANKING & INSURANCE DIGITAL & PAYMENTS OTHER NETWORK NETWORK NETWORK EXPERTISE INSURANCE €m 2023 2022 % 2023 2022 % 2023 2022 % 2023 2022 % 2023 2022 % 2023 2022 % 2023 2022 % Net banking
Slide 59: 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 Q4-23 €m Net banking income 4,205 4,101 4,057 3,835 3,891 3,655 3,721 3,557 Operating expenses (2,481) (2,473) (2,413) (2,637) (2,496) (2,459) (2,358) (2,497) Gross operating 1,724 1,628
Slide 60: 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 Q4-23 €m Net banking income 1,713 1,701 1,638 1,534 1,557 1,460 1,483 1,379 Operating expenses (1,003) (973) (990) (1,018) (1,018) (1,015) (9
Slide 61: Retail Banking & Insurance: deposits & savings and loan outstandings
Retail Banking & Insurance DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) Change YoY Change YoY 887 918 +4% +3% 248 719 267 701 (7)% Sight deposits +3% Passbook savings accounts 231 (7)% Regulated home savings plans 402 391 225 +54% Term accounts 74 +3% Residential mortgages 80 x3 BPCE bonds
Slide 62: Retail Banking & Insurance: Banque Populaire network
Retail Banking & Insurance: Banque Populaire network DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) Change YoY Change YoY 381 +4% +1% 368 298 301 125 (10)% Sight deposits 139 +1% Passbook savings accounts (6)% Regulated home savings plans 166 169 75 74 +65% Term accounts 20 Residential mortg
Slide 63: 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 502 520 +4% +4% 372 360 113 119 (5)% Sight deposits 155 230 222 150 +2% Passbook savings accounts (7)% Regulated home savings plans 54 +39% Term accounts Residential mort
Slide 64: 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 Q4-23 €m Net banking 295 292 287 272 315 306 318 335 income Operating (149) (147) (147) (165) (157) (151) (154) (167) expenses Gross operating 146 145 140 107 158 155 164 168 in
Slide 65: 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 Q4-23 €m Net banking income 127 (2) 112 170 180 126 181 146 Operating expenses (36) (41) (38) (51) (43) (37) (42) (41) Gross operating 91 (43) 74 118 137 89 139 105 income Income before tax 90
Slide 66: Retail Banking & Insurance: Digital & Payments quarterly series
Retail Banking & Insurance: Digital & Payments quarterly series DIGITAL & PAYMENTS Q1-22 Q2-22 Q3-22 Q4-22 (at (at (at (at constant constant constant constant €m Q1-22 scope, Q2-22 scope, Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 scope, scope, excl. excl. excl. excl. Bimpli) Bimpli) Bimpli) Bimpli) Net ba
Slide 67: 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 Q4-23 €m Net banking income 84 89 86 88 97 97 99 91 Operating expenses (50) (52) (49) (58) (51) (52) (52) (63) Gross operating 34 37 37 30 46 45 47 28 income Cost of risk (5) (19) 0 (32
Slide 68: 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 % Q4-23 Q4-22 Q4-23 Q4-22 Q4-23 Q4-22 Net banking income 877 929 997 935 1,874 1,865 1% Operating expenses (687) (704) (702) (671) (1,389) (
Slide 69: Global Financial Services: 2023 income statement per business line
Global Financial Services: 2023 income statement per business line CORPORATE & ASSET AND WEALTH GLOBAL FINANCIAL INVESTMENT MANAGEMENT SERVICES BANKING €m % 2023 2022 2023 2022 2023 2022 Net banking income 3,205 3,352 4,026 3,759 7,230 7,111 2% Operating expenses (2,594) (2,638) (2,659) (2,530) (5,2
Slide 70: 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 Q4-23 Net banking 1,782 1,771 1,694 1,865 1,822 1,798 1,736 1,874 income Operating (1,275) (1,252) (1,265) (1,376) (1,303) (1,282) (1,279) (1,389) expenses Gross operating 507 518 429 4
Slide 71: 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 Q4-23 Net banking income 812 814 796 929 784 776 768 877 Operating expenses (644) (650) (640) (704) (642) (634) (631) (687) Gross operating 168 165 157 225 142 142 137 189 income Cost o
Slide 72: 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 Q4-23 Net banking income 970 956 898 935 1,038 1,022 968 997 Operating expenses (631) (602) (626) (671) (662) (647) (648) (702) Gross operating 339 354 272 264 376 375 320 296
Slide 73: 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 Q4-23 Net banking income 162 161 183 144 102 13 (3) 31 Operating expenses (829) (179) (237) (220) (788) (58) (175) (243) Gross operating income (667) (18) (54) (76) (686) (45) (178) (212) Cost of risk 4
Slide 74: Performing & non-performing loans and impairment
Performing & non-performing loans and impairment €bn Dec. 31, 2023 Dec. 31, 2022 Gross outstanding loans to customers and credit institutions 963.7 938.9 O/w S1 outstandings 809.8 789.4 O/w S2 outstandings 131.1 128.1 O/w S3 outstandings 22.8 21.4 Non-performing loans/gross outstanding loans 2.4% 2.
Slide 75: Cost of risk by business lines
Cost of risk by business lines S3 COST OF RISK(1) (in bps) S1/S2 37 36 28 22 22 22 17 16 12 9 10 14 29 19 12 15 17 23 23 BP network 9 7 (9) (6) 28 23 15 13 17 15 12 8 7 16 9 CE network 12 10 11 10 22 16 22 7 2 5 (4) 1 (13) 37 35 20 22 21 10 z 22 17 14 17 RB&I 12 13 15 21 30 8 10 11 14 24 2 5 (10) (5
Slide 76: Breakdown of gross exposures at December 31, 2023
Breakdown of gross exposures at December 31, 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 77: groupeBPCE.com
NL \ GROUPE —_—_—_— ———————_—_—_— - BPCE - ——_— —_— PARIS 2024 PARIS 2024 f’ QP PARTENAIRE PREMIUM j& groupeBPCE.com Ca poBOnoue HES EA SASS one sen’ oney BORE OW NATIXIS 4 NATIXIS