Natixis — Groupe BPCE — FY2014 Earnings Presentation
81 slides from Natixis's earnings presentation, Feb 19, 2015
Slide 1: Results for full-year 2014
Results for February 19, 2015 full-year 2014
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: Strong performance achieved by Groupe BPCE in 2014
Strong performance achieved by Groupe BPCE in 2014 Sharp rise in income before tax1 (€5.6bn, +9.5% vs. 2013), and attributable net income1 in excess of €3bn (€3.1bn, +5.9% vs. 2013) Banque Populaire and Caisse d’Epargne retail banking networks On-balance sheet deposits & savings2: net new fund inf
Slide 4: Initial results from the implementation of the new strategic plan (2014 – 2017)
Initial results from the implementation of the new strategic plan (2014 – 2017) Digital Innovations at our customers’ service (notably in the area of payment solutions) and development of digital banking (including the roll-out of the electronic signature in the branches) Investment Solutions Sa
Slide 5: Contents
Contents 1 2 3 4 5 Results of Capital Results of Strategic Conclusion Groupe adequacy the plan BPCE and business liquidity lines February 19, 2015 Results for full-year 2014 5
Slide 6: Full-year 2014 results of Groupe BPCE
Full-year 2014 results of Groupe BPCE Net income attributable to equity holders of the parent1: €3.1bn, +5.9% vs. 2013 Core business Results 2014/2013 pf 2 2014/2013 pf 2014 lines In millions of euros % change % change 2014 1 Net banking income 23,609 2.3% 21,988 2.3% Operating expenses -16,330 1.2%
Slide 7: Q4-14 results of Groupe BPCE
Q4-14 results of Groupe BPCE Net income attributable to equity holders of the parent1: €576m, -3.1% vs. Q4-13 Results Q4-14/Q4-13 pf Core business Q4-14/Q4-13 pf Q4-14 lines 2 In millions of euros % change % change Q4-14 1 Net banking income 5,901 -1.1% 5,534 0.5% Operating expenses -4,324 1.6% -3,8
Slide 8: Non-operating items
Non-operating items Revaluation of own debt and Funding Valuation Adjustment 2014 2013 Q4-14 Q4-13 In millions of euros Revaluation of own debt 1 -270 -254 -28 -134 Impact of the introduction of the Funding Valuation Adjustment (FVA) -82 -82 Impact on income before tax -351 -254 -109 -134 Impact on
Slide 9: Results of Groupe BPCE: cost of risk
Results of Groupe BPCE Average cost of risk in 2014: 29bps1, down 6bps vs. 2013 Cost of risk in bps1 50 Banque Populaire banks 41 41 39 37 42 34 Average cost of risk remained stable in 2014, at 41bps Caisses d’Epargne 27 28 25 27 27 29 29 Average cost of risk remained stable in 2014, at 28bps Co
Slide 10: Contents
Contents 1 2 3 4 5 Results of Capital Results of Strategic Conclusion Groupe adequacy the plan BPCE and business liquidity lines February 19, 2015 Results for full-year 2014 10
Slide 11: Capital adequacy
Capital adequacy Strong growth in capital adequacy in 2014 (+160bps), taking the CET1 ratio to 12.0%1 Change in Common Equity Tier-1 ratio +23bps +42bps +41bps +62bps -37bps 12.0%1,2 11.7%2 10.4%1 Pro forma CET1 Retained Change in Issue of Nexity accounted CET1 ratio Impact of CET1 ratio ratio earni
Slide 12: Capital adequacy
Capital adequacy High level of overall capital adequacy (15.6%1) at end-2014, and strong annual CET1 generation capacity (approx. 150bps per year since 2012) Capital adequacy ratios1 (as a%) Dynamic generation of Common Equity Tier 1 15.6% +160bps vs. 2013 13.1% 2.6 +310bps vs. 2012 11.6% 1.0 1.
Slide 13: Liquidity
Liquidity Continuous strengthening of the balance sheet structure Liquidity reserves (in €bn) and short-term Group customer loan/deposit ratio3 funding1 147% Liquidity reserves: €172bn at Dec. 31, 2014 138% 4 €61bn in cash placed with central banks 128% 5 126% 6 121% €111bn of available assets e
Slide 14: Liquidity
Liquidity Proven ability to raise substantial funding thanks to enhanced diversification €41.4bn in MLT funding raised in 2014 (138% of MLT funding raised at Dec. 31, 2014 the 2014 program) €35.2bn raised in the BPCE MLT funding pool €6.1bn raised in the CFF MLT funding pool Average maturity a
Slide 15: Contents
Contents 1 2 3 4 5 Results of Capital Results of Strategic Conclusion Groupe adequacy the plan BPCE and business liquidity lines February 19, 2015 Results for full-year 2014 15
Slide 16: Commercial Banking & Insurance results
Results of the business lines Commercial Banking & Insurance Results 2014 /2013 pf Q4-14 /Q4-13 pf 2014 Q4-14 In millions of euros % change % change Net banking income 15,045 0.8% 3,733 -3.0% 1 Net banking income 15,020 0.7% 3,709 -3.7% 1 2 2 Banque Populaire banks 6,366 0.6% 1,564 -3.6% 1 Caisses d
Slide 17: Commercial Banking & Insurance: 3.3% growth in income before tax
Results of the business lines Commercial Banking & Insurance: 3.3% growth in income before tax vs. 2013, to €3.8bn Unless specified to the contrary, all changes are vs. Dec. 31, 2013 Deposits & savings and loan outstandings2 Commercial activities of the BP & CE retail (in €bn) networks 578 596 558
Slide 18: Banque Populaire banks
Results of the business lines Banque Populaire banks: enhanced commercial performance in all business segments Unless specified to the contrary, all changes are vs. Dec. 31, 2013 Continued growth among priority customer groups +6.2% individual customers using banking services and Deposits & saving
Slide 19: Caisses d'Epargne
Results of the business lines Caisses d’Epargne: commercial dynamism maintained in 2014 Unless specified to the contrary, all changes are vs. Dec. 31, 2013 Deposits & savings and loan outstandings Dynamic growth in the customer base (in €bn) Individual customers using banking services: +2.9% 359 3
Slide 20: Real estate Financing
Results of the business lines Real estate Financing1: contribution to the Group’s income before tax becomes positive in 2014 (€115m vs. -€44m) Business activities remained buoyant despite the sluggish market Loan outstandings4 (in €bn) – Core businesses New loan production in 2014 > €10bn with enh
Slide 21: Insurance, BPCE IOM & Banque Palatine
Results of the business lines Insurance, BPCE IOM & Banque Palatine: strong growth in contribution to the Group’s income before tax in 2014 (+9% vs. 2013, at €394m) Unless specified to the contrary, all changes are vs. Dec. 31, 2013 Insurance1 Business activity indicators Life insurance: >Gross ne
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 1 Results 2014 /2013 pf Q4-14 /Q4-13 pf 2014 Q4-14 In millions of euros % change % change 1 Net banking income 6,980 7.5% 1,801 8.7% 1 Wholesale Banking 2,899 3.7%
Slide 23: Natixis core business lines: dynamic net revenues
Results of the business lines Natixis core business lines: dynamic net revenues (+7.5% vs. 2013) and very sharp increase in contribution to Group income before tax (+19.2%, to €2.2bn) Change in net revenues and income before tax of the core business lines (in €m)1 Wholesale Banking: income before ta
Slide 24: Wholesale Banking
Results of the business lines Wholesale Banking: significant improvement in profitability and development of the key franchises Figures presented do not include exceptional items1 Financing activities Change in net revenues (in €m) Structured financing Financing activities Capital markets1 >New lo
Slide 25: Investment Solutions: record-breaking net inflows in asset management
Results of the business lines Investment Solutions: record-breaking net inflows in asset management (+€28bn), dynamic insurance and private banking performance; sharp rise in revenues (+15.2%) and profitability Asset management Record-breaking net inflows in 2014 of €32bn (excluding Asset manageme
Slide 26: SFS: good resilience in specialized financing
Results of the business lines SFS: good resilience in specialized financing activities and sharp increase in profitability Specialized financing Consumer finance >Loan outstandings (end of period): +9% vs. end-December 2013 Sureties & financial guarantees Contribution to Group results >Net reven
Slide 27: Equity interests: sharp perimeter reduction in 2014
Equity interests1 Sharp perimeter reduction in 2014: in particular thanks to the public listing of almost 60% of the capital of Coface and to the consolidation of Nexity by the equity method Results 2014 /2013 Q4-14 /Q4-13 2014 Q4-14 In millions of euros % change % change Net banking income 1,698 -1
Slide 28: Equity interests
Equity interests Coface Turnover1 (in €m) +1.6% Turnover1: +2% vs. 2013 in line with the predetermined objectives +1.1% Expenses under close control2 Down by 1% vs. 2013 and by 5% in Q4-14 vs. Q4-13 1 438 1 461 Sharp improvement in the combined ratio in 2014 363 367 Loss ratio3: 50.4% vs. 53.8%
Slide 29: Contents
Contents 1 2 3 4 5 Results of Capital Results of Strategic Conclusion Groupe adequacy the plan BPCE and business liquidity lines February 19, 2015 Results for full-year 2014 29
Slide 30: Creating leading banks for one-to-one and online relations
2014-2017 Strategic Plan "Another way to grow" Creating leading banks for one-to-one and online relations Number of principal customers using banking New types of branch format and new customer experience to enrich our relationship model services, aged 25 or more “New definition” branches in the C
Slide 31: Defining the Group as a major player in savings
2014-2017 Strategic Plan "Another way to grow" Defining the Group as a major player in savings to finance its customers Private banking: achievements in line with the Private banking outstandings (in €bn) goals of the strategic plan +6.5% New organization of the Group with the inauguration of 2017
Slide 32: Becoming a fully-fledged bancassurer
2014-2017 Strategic Plan "Another way to grow" Becoming a fully-fledged bancassurer Major steps taken toward the creation of a single Individual customers using insurance products1 insurance platform within Natixis (as a %) Agreement between CNP Assurances and Groupe BPCE on December December 2017
Slide 33: Speeding up the Group's international expansion
2014-2017 Strategic Plan "Another way to grow" Speeding up the Group’s international expansion Natixis is pursuing its international expansion Net revenues of Wholesale Banking through its core business lines under the aegis generated in the international market of its “New Frontier” strategic plan
Slide 34: Gaining in collective efficiency: revenue and cost synergies
2014-2017 Strategic Plan "Another way to grow" Gaining in collective efficiency: revenue and cost synergies in line with our targets Contributions to revenue synergies Per business line €198m in revenue synergies as at December 31, 56% 2014, slightly behind schedule without, however, calling the ult
Slide 35: Investing in our talent and making the most of our cooperative DNA
2014-2017 Strategic Plan "Another way to grow" Investing in our talent and making the most of our cooperative DNA Employees Groupe BPCE, a major recruiter 2013 Number 2014 Innovation in teaching methods to learn differently: of permanent > 18,750 employees received training in virtual classes1 i
Slide 36: Consolidating the financial fundamentals of the Group
2014-2017 Strategic Plan "Another way to grow" Consolidating the financial fundamentals of the Group 2013 2014 2017 targets Revenues of the core business €21.5bn €22bn ≥ €23bn lines Cost/income ratio 69.9%1 69.2%1 ≤ 65% Net income attributable to €2.9bn1 €3.1bn1 ≥ €4bn equity holders of the parent C
Slide 37: Contents
Contents 1 2 3 4 5 Results of Capital Results of Strategic Conclusion Groupe adequacy the plan BPCE and business liquidity lines February 19, 2015 Results for full-year 2014 37
Slide 38: Conclusion
Conclusion A strong A robust balance Playing an First year of the foundation of sheet: active role in 2014-2017 recurring financing the strategic plan: results: CET1 ratio of French results in line 12.0%2 economy: with the targets Net income Overall attributable to capital adequacy 3.0%5 growth Impa
Slide 39: Annexes
Results for full year 2014 February 19, 2015 Annexes
Slide 40: Annexes
Annexes Groupe BPCE Organizational structure of Groupe BPCE Income statement Income statement per business line Wholesale Banking, Investment Solutions Consolidated balance sheet and SFS Goodwill Income statement Financial structure Equity interests Statement of changes in shareholders
Slide 41: Organizational structure of Groupe BPCE
Annex – Groupe BPCE Organizational structure of Groupe BPCE February 19, 2015 Results for full-year 2014 41
Slide 42: Income statement: reconciliation of pro-forma consolidated data
Annex – Groupe BPCE Income statement: reconciliation of pro-forma consolidated data to published consolidated data Groupe BPCE Commercial Banking & Insurance Wholesale Banking, IS, SFS Equity Interests Corporate center 2013 Q4-13 Impact of Q4-13 Impact of Q4-13 Impact of Q4-13 Impact of Q4-13 Impact
Slide 43: Annual income statement per business line
Annex – Groupe BPCE Annual income statement per business line Wholesale Banking, Commercial Investment Corporate Banking & Solutions & Total core businesses Equity interests Groupe BPCE center Insurance Specialized Financial Services In millions of euros 2014 2013 pf 2014 2013 pf 2014 2013 pf % 2014
Slide 44: Quarterly income statement per business line
Annex – Groupe BPCE Quarterly income statement per business line Wholesale Banking, Commercial Investment Corporate Banking & Solutions & Total core businesses Equity interests Groupe BPCE center Insurance Specialized Financial Services In millions of euros Q4-14 Q4-13 pf Q4-14 Q4-13 pf Q4-14 Q4-13
Slide 45: Quarterly income statement
Annex – Groupe BPCE Quarterly income statement Groupe BPCE In millions of euros Q1-13 pf Q2-13 pf Q3-13 pf Q4-13 pf 2013 pf Q1-14 Q2-14 Q3-14 Q4-14 2014 Net banking income 5,679 5,728 5,585 5,834 22,826 5,850 5,958 5,658 5,792 23,257 Operating expenses -3,945 -4,022 -3,912 -4,256 -16,135 -3,977 -4,1
Slide 46: Consolidated balance sheet
Annex – Groupe BPCE Consolidated balance sheet ASSETS in millions of euros 31/12/2014 31/12/2013 LIABILITIES in millions of euros 31/12/2014 31/12/2013 C ash and amounts due from central banks 79 028 60 410 Amounts due to central banks 2 0 1 1 Financial assets at fair value through profit or loss 22
Slide 47: Goodwill
Annex – Groupe BPCE Goodwill Dec. 31, Acquisitions Other Dec. 31, In millions of euros Impairment Conversion 2013 /Disposals movements 2014 Commercial Banking and 904 -1 903 Insurance entities Natixis 2,555 21 -51 165 12 2,702 Equity interests1 709 -709 0 Total 4,168 -688 -52 165 12 3,605 Goodwill i
Slide 48: 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, 2013 51,339 Distributions -430 Capital increase (cooperative shares) 1,726 Income 2,907 Remuneration of super-subordinated notes (TSSDI) -219
Slide 49: Reconciliation of shareholders' equity to total capital
Annex – Financial structure Reconciliation of shareholders' equity to total capital1 in billions of euros - 1.2 + 3.8 + 11.3 - 4.1 - 4.8 - 1.4 + 3.8 -1.52 61,229 61.2 55.3 51.1 51,114 47,279 47.3 47,279 Equity Cancellation of Non controlling Goodwill & EL/Prov Other Common Equity Additional Tier 1 c
Slide 50: Prudential ratios and credit ratings
Annex – Financial structure Prudential ratios and credit ratings BASEL 3 1 BASEL 2.5 Dec. 31, 20141 Dec. 31, 2013 pf Dec. 31, 2013 Dec. 31, 2012 Total risk-weighted assets €393bn €409bn €369bn €381bn Common Equity Tier-1 capital €46.6bn €42.3bn €42.0bn €40.9bn Tier-1 capital €50.0bn €46.5bn €47.3bn
Slide 51: Breakdown of risk-weighted assets at Dec. 31, 2014
Annex Breakdown of risk-weighted assets at Dec. 31, 20141 64% Commercial Banking & Insurance €393bn 30% Natixis Other 6% 1 Estimate at Dec. 31, 2014 February 19, 2015 Results for full-year 2014 51
Slide 52: Leverage ratio
Annex Leverage ratio1 Reconciliation of on-balance sheet assets to prudential assets eligible for calculating the leverage ratio in billions of euros Dec. 31, 2014 Tier-1 capital 51.1 Prudential balance sheet total 1,157.2 Adjustments related to exposure to derivatives2 -35.3 Adjustments related to
Slide 53: Financial conglomerate
Annex Financial conglomerate CRR/CRD 42 Restatements Financial Financial conglomerate ratio viewpoint conglomerate viewpoint +0.2 Banking CR1 (CRR/CRD4) Regulatory capital > + Total capital Insurance CR1 (Solvency 1) (in €bn) 60.5 60,2 60,2 60.7 Transfer from Basel 3 ratio2 to conglomerate 1 2 3 rat
Slide 54: Medium and long term resources
Capital adequacy and liquidity Medium and long term resources Diversification of the investor base1 3% 4% 6% 18% 70% Foreign Foreign EUR 2013 2014 52% currencies currencies 30% 48% 2% 33% 8% USD 3% GBP JPY AUD CHF Other EUR 7% 51% 34% 1 On unsecured bond issues, institutional customers February 19,
Slide 55: Commercial Banking and Insurance: annual income statement
Annex – Commercial Banking and Insurance Annual income statement per business line Commercial Banking & Banque Populaire banks Caisses d'Epargne Insurance & Other networks Insurance In millions of euros 2014 2013 pf % 2014 2013 pf % 2014 2013 pf % 2014 2013 pf % Net banking income 6,359 6,330 0.5% 7
Slide 56: Commercial Banking and Insurance: quarterly income statement per business line
Annex – Commercial Banking and Insurance Quarterly income statement per business line Insurance & Other Commercial Banking & Banque Populaire banks Caisses d'Epargne networks Insurance In millions of euros Q4-14 Q4-13 pf % Q4-14 Q4-13 pf % Q4-14 Q4-13 pf % Q4-14 Q4-13 pf % Net banking income 1,563 1
Slide 57: Commercial Banking and Insurance: quarterly income statement
Annex – Commercial Banking and Insurance Quarterly income statement Commercial Banking & Insurance In millions of euros Q1-13 pf Q2-13 pf Q3-13 pf Q4-13 pf 2013 pf Q1-14 Q2-14 Q3-14 Q4-14 2014 Net banking income 3,637 3,759 3,677 3,850 14,924 3,789 3,743 3,780 3,733 15,045 Operating expenses -2,452
Slide 58: Banque Populaire banks and Caisses d'Epargne quarterly income statement
Annex – Commercial Banking and Insurance Quarterly income statement Banque Populaire banks and Caisses d’Epargne Banque Populaire banks In millions of euros Q1-13 pf Q2-13 pf Q3-13 pf Q4-13 pf 2013 pf Q1-14 Q2-14 Q3-14 Q4-14 2014 Net banking income 1,536 1,612 1,559 1,623 6,330 1,618 1,621 1,557 1,5
Slide 59: Banque Populaire network: customer deposits & savings
Annex – Commercial Banking and Insurance Banque Populaire network: customer deposits & savings (in €bn) 217.1 207.1 198.7 54.4 % change 49.1 Q4-14 / Q4-13 46.1 Demand deposits +10.8% 42.6 42.3 Passbook savings accounts +0.7% 40.2 16.3 Regulated home savings 14.8 15.2 +7.1% plans 28.4 29.9 25.7 Term
Slide 60: Banque Populaire network: customer loan outstandings
Annex – Commercial Banking and Insurance Banque Populaire network: customer loan outstandings (in €bn) 165.5 167.4 160.0 % change Q4-14 / Q4-13 87.4 89.9 81.6 Home loans +2.9% Consumer loans & short- +4.3% term credit facilities 17.6 17.2 17.9 Equipment loans -0.6% Other ns 53.8 54.2 53.9 Total loan
Slide 61: Caisse d'Epargne network: customer deposits & savings
Annex – Commercial Banking and Insurance Caisse d'Epargne network: customer deposits & savings (in €bn) 379.3 370.5 358.8 % change 47.0 35.4 40.7 Q4-14 / Q4-13 Demand deposits +15.7% 131.9 126.8 Passbook savings accounts -3.9% 132.7 Regulated home savings +11.0% plans 42.1 46.7 Term accounts +15.8%
Slide 62: Caisse d'Epargne network: customer loan outstandings
Annex – Commercial Banking and Insurance Caisse d'Epargne network: customer loan outstandings (in €bn) 210.7 200.9 185.3 % change Q4-14 / Q4-13 127.0 120.2 109.4 Home loans +5.7% Consumer loans & short- +3.0% term credit facilities 19.9 Equipment loans +1.1% 19.3 18.4 Other ns 57.8 58.5 Total loans
Slide 63: Quarterly income statement - Insurance and Other networks
Annex – Commercial Banking and Insurance Quarterly income statement - Insurance and Other networks (*) Insurance & Other networks In millions of euros Q1-13 pf Q2-13 pf Q3-13 pf Q4-13 pf 2013 pf Q1-14 Q2-14 Q3-14 Q4-14 2014 Net banking income 360 374 379 419 1,533 365 394 427 391 1,577 Operating exp
Slide 64: Wholesale Banking, Investment Solutions and SFS: annual income statement
Annex – Wholesale Banking, Investment Solutions and SFS Annual income statement per business line Wholesale Banking, Specialized Financial Investment Solutions and Wholesale Banking Investment Solutions Services Specialized Financial Services In millions of euros 2014 2013 pf % 2014 2013 pf % 2014 2
Slide 65: Wholesale Banking, Investment Solutions and SFS: quarterly income statement per business line
Annex – Wholesale Banking, Investment Solutions and SFS Quarterly income statement per business line Wholesale Banking, Specialized Financial Wholesale Banking Investment Solutions Investment Solutions and Services Specialized Financial Services In millions of euros Q4-14 Q4-13 pf % Q4-14 Q4-13 pf %
Slide 66: Wholesale Banking, Investment Solutions and SFS: quarterly income statement
Annex – Wholesale Banking, Investment Solutions and SFS Quarterly income statement Wholesale Banking, Investment Solutions and Specialized Financial Services In millions of euros Q1-13 pf Q2-13 pf Q3-13 pf Q4-13 pf 2013 pf Q1-14 Q2-14 Q3-14 Q4-14 2014 Net banking income 1,654 1,616 1,642 1,657 6,568
Slide 67: Wholesale Banking: quarterly income statement
Annex – Wholesale Banking, Investment Solutions and SFS Quarterly income statement per business line Wholesale Banking In millions of euros Q1-13 pf Q2-13 pf Q3-13 pf Q4-13 pf 2013 pf Q1-14 Q2-14 Q3-14 Q4-14 2014 Net banking income 798 678 739 652 2,867 727 757 674 624 2,781 Operating expenses -432
Slide 68: Investment Solutions: quarterly income statement
Annex – Wholesale Banking, Investment Solutions and SFS Quarterly income statement per business line Investment Solutions In millions of euros Q1-13 pf Q2-13 pf Q3-13 pf Q4-13 pf 2013 pf Q1-14 Q2-14 Q3-14 Q4-14 2014 Net banking income 547 624 594 682 2,447 647 710 689 772 2,818 Operating expenses -4
Slide 69: 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 Q1-13 pf Q2-13 pf Q3-13 pf Q4-13 pf 2013 pf Q1-14 Q2-14 Q3-14 Q4-14 2014 Net banking income 309 313 308 323 1,253 314 318 306 324 1,262 Operating e
Slide 70: Equity interests: quarterly income statement
Annex – Equity interests Quarterly income statement Equity interests In millions of euros Q1-13 Q2-13 Q3-13 Q4-13 2013 Q1-14 Q2-14 Q3-14 Q4-14 2014 Net banking income 414 442 398 466 1,720 403 420 419 456 1,698 Operating expenses -351 -354 -338 -386 -1,429 -337 -350 -347 -395 -1,429 Gross operating
Slide 71: Corporate center: quarterly income statement
Annex – Corporate center Quarterly income statement Corporate center In millions of euros Q1-13 pf Q2-13 pf Q3-13 pf Q4-13 pf 2013 pf Q1-14 Q2-14 Q3-14 Q4-14 2014 Net banking income -26 -89 -132 -139 -386 -29 9 -210 -116 -347 Operating expenses -91 -101 -77 -250 -519 -67 -125 -76 -90 -357 Gross oper
Slide 72: Non-performing loans and impairment
Annex – Risks Groupe BPCE: non-performing loans and impairment In millions of euros Dec. 31, 2014 Dec. 31, 2013 Dec. 31, 2012 Gross outstanding customer loans 623,256 590,704 586,479 O/w non-performing loans 22,919 23,330 21,921 Non-performing / gross outstanding loans 3.7% 3.9% 3.7% Impairment reco
Slide 73: Breakdown of commitments at December 31, 2014
Annex – Risks Breakdown of commitments at December 31, 2014 Breakdown of commitments Breakdown of commitments to Corporates per counterparty per economic sector 5% Finance Insurance 15.3% 9% Real estate rentals 11.3% Energy 9.7% 26% Real estate 9.3% 4% Holding companies & diversified 6.7% Services 5
Slide 74: Geographical breakdown of commitments
Annex – Risks Geographical breakdown of commitments as at December 31, 2014 Central administrations / central banks and other Institutions sovereign exposures Corporates 4% 1% 1% 3% 17% 4% 7% 18% 10% 19% 16% 27% 69% 37% 67% France Centralization of regulated savings Europe excl. France N&S America A
Slide 75: Sensitive exposures: Financial Stability Forum recommendations
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 76: Summary of sensitive exposures
Annex – Groupe BPCE FSF report at December 31, 2014 Summary of sensitive exposures Total Total Groupe BPCE in billions of euros (excl. Natixis) Natixis Dec. 31, June 30, 2014 2014 Net exposure ABS CDOs (asset-backed securities) 0.0 0.0 0.0 0.2 US residential market Net exposure Other at-risk CDOs 0.
Slide 77: Sensitive exposures: Other CDOs (unhedged)
Annex – Sensitive exposures (excl. Natixis) Other CDOs (unhedged) Gross Net exposure Changes in Other Net exposure exposure In millions of euros4 June 30, value changes Dec. 31, Dec. 31, 2014 H2-14 H2-14 2014 2014 Portfolio at fair value through ns 4 - 0 4 5 profit or loss Portfolio at fair value th
Slide 78: Sensitive exposures: CMBS
Annex – Sensitive exposures (excl. Natixis) CMBS Gross Net exposure Changes in Other Net exposure exposure In millions of euros June 30, value changes Dec. 31, Dec. 31, 2014 H2-14 H2-14 2014 2014 Portfolio at fair value through 1 0 0 1 1 profit or loss Portfolio at fair value through 17 -5 0 12 12 s
Slide 79: Sensitive exposures: RMBS
Annex – Sensitive exposures (excl. Natixis) RMBS Portfolio of RMBS Net Changes in Other Net Gross Breakdown of residual exposure exposure exposure in the UK In millions of euros June 30, value H2-14 changes H2-14 Dec. 31, Dec. 31, exposure by rating 2014 2014 2014 Portfolio at fair value through 29%
Slide 80: 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 81: February 19, 2015 Results for full-year 2014
February 19, 2015 Results for full-year 2014 81