Natixis — Groupe BPCE — H1 2023 Earnings Presentation
76 slides from Natixis's earnings presentation, August 2023
Slide 1: Results for the 2nd quarter and 1st half of 2023
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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: Strong commercial performance in the on-going interest rate transition phase
Strong commercial performance in the on-going interest rate transition phase; organic capital creation of 20 bps driven by positive earning generation DEVELOPMENTS PERFORMANCE STRENGTHS RB&I Reported net revenues €11.3bn Strong capital Robust commercial performance for the BP & in H1-23 15.2% CET1 r
Slide 4: Groupe BPCE results
01 Groupe BPCE results Capital and liquidity Business line results Conclusion
Slide 5: Results: reported net banking income
Results: reported net banking income RETAIL BANKING & INSURANCE in €m GLOBAL FINANCIAL SERVICES in €m (9)% (14)% 8,306 +2% 6,958 7,546 6,015 +6% x2.4 (12)% +7% (4)% 3,553 3,620 587 621 306 463 408 125 1,926 2,060 1,627 1,560 BP & CE networks FSE Insurance Digital & RB&I CIB AWM GFS Payments RB&I(1)
Slide 6: Results: reported operating expenses
Results: reported operating expenses OPERATING EXPENSES in €m -1% 76 13 3 8,490 19 1 (23) (35) 8,386 (18) (139) H1-22 BP & CE FSE Insurance Digital & Other network AWM CIB Corporate SRF H1-23 networks Payments center contribution Very good cost control across all businesses while on-going investment
Slide 7: 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) In bps(1) Increase in Stage 3 cost of 22 17 21 16 14.3 14.3 risk of €310m vs. H1-22 13 14 13.5 13.8 15 24 12 20 12.9 notably due to prudent RB&I 10 2 9 (10) (4) provisioning of a limited 54
Slide 8: Results: reported Group P&L
Results: reported Group P&L % Change % Change €m Q2-23 Q2-22 H1-23 H1-22 vs. Q2-22 vs. H1-22 Revenues at €11.3bn in H1-23, down 7%, as anticipated, due to the Net banking income 5,467 6,032 (9)% 11,281 12,181 (7)% transmission of the rise in interest rates on regulated savings to the Operating expen
Slide 9: Capital and liquidity
Groupe BPCE results Capital and liquidity Business line results Conclusion
Slide 10: Capital and Loss-absorbing Capacity
Capital and Loss-absorbing Capacity CHANGE IN THE CET 1 RATIO (in bps) Actual levels Requirements as at June 30, 2023 June 30, 2023(1) CET1 ratio 9.95%(3) 15.2% +6bps +5bps 15.2%(1) +20bps (ECB) 15.0% (4)bps (3)bps Total capital 13.95%(3) 18.1% ratio (ECB) CET1 ratio at March 31, 2023 Earnings Chang
Slide 11: Liquidity (1/2): 86% of 2023 MLT funding plan already completed
Liquidity (1/2): 86% of 2023 MLT funding plan already completed(1) 2023 MLT WHOLESALE FUNDING PLAN Structure of MLT wholesale funding raised in 2023(1,3) Target: €29bn(2) / Raised(1,2): €24.9bn or 86% ▪ TLAC funding Unsecured bond issues Target: €10.0bn (€2bn Tier 2 / €8bn SNP) 51% 43% Covered bond
Slide 12: Liquidity (2/2): Innovation, diversification & financial strength
Liquidity (2/2): Innovation, diversification & financial strength Innovative operations responding Recent landmark bond issues Ratings(1) to the priorities of investors contributing to the diversification affirmed of the investor base June 29, July 6, ▪ ¥197.7bn (c. €1.3bn) Samurai bond 2023 ▪ €500m
Slide 13: Business line results
Groupe BPCE results Capital and liquidity Business line results Conclusion
Slide 14: Retail Banking & Insurance: Banques Populaires
Retail Banking & Insurance Banques Populaires LOAN OUTSTANDINGS in €bn PRODUCTION H1-22 vs. H1-23 16 45,000 new professional customers(1) YTD Residential mortgages +5% 9 (44)% In €bn High level of loan outstandings at end June- 303 2023 fueled by residential mortgages +5% YoY 289 2.8% +1.7pp Average
Slide 15: Retail Banking & Insurance: Caisses d'Epargne
Retail Banking & Insurance Caisses d’Epargne LOAN OUTSTANDINGS in €bn PRODUCTION H1-22 vs. H1-23 21 239,000 new individual customers(1) YTD +5% 14 (33)% Residential mortgages In €bn High level of loan outstandings at end-june 349 367 2023 fueled by residential mortgages 3.0% +1.8pp Average rate (%)
Slide 16: Retail Banking & Insurance: Financial Solutions & Expertise
Retail Banking & Insurance Financial Solutions & Expertise BREAKDOWN OF REVENUES PER BUSINESS LINE in H1-23 3% Consumer credit 8% Consumer credit: strong momentum with personal 24% loan and revolving credit outstanding up 9% YoY; NBI Factoring 14% affected by the growing pressure on margins Leasing
Slide 17: Retail Banking & Insurance: Insurance
Retail Banking & Insurance Insurance(1) LIFE INSURANCE AuM(2) in €bn PREMIUMS(2) in €bn H1-23 strong net revenue growth driven by more favorable 1.6 macroeconomic conditions vs. H1-22, 3.6 +24% as implied by IFRS 17 5.5 +57% 9.5 0.7 7.6 +7% +4% Life insurance AuM(2): +7% vs. end- 3.5 89.6 December 2
Slide 18: Retail Banking & Insurance: Digital & Payments
Retail Banking & Insurance Digital & Payments DIGITAL 10.8 million customers active on mobile apps at the end-June 2023 (+9% vs. June 2022) among 13.1 million customers active on mobile devices 54 million visits per week on average (+7% vs. December 2022) Increasing number of professional customers
Slide 19: Retail Banking & Insurance: Business Line P&L
Retail Banking & Insurance Business Line P&L Strong dynamic loan book expansion in all markets, with an €m (1) Q2-23 % Change H1-23 % Change acceleration of repricing • Residential mortgages: +6% YoY to €399bn • Equipment loans: +6% YoY to €189bn Net banking income 3,655 (11)% 7,546 (9)% • Consumer
Slide 20: Global Financial Services: Asset & Wealth Management
Global Financial Services Asset & Wealth Management AM revenues down 4% vs. H1-22 due to lower average AuM ASSETS UNDER MANAGEMENT(1) in €bn (-6% YTD), overall AM fee rate excl. insurance driven management down vs. H1-22 due to larger Fixed income share in Other affiliates Private assets the product
Slide 21: Global Financial Services: Corporate & Investment Banking
Global Financial Services Corporate & Investment Banking NET REVENUES(1) in €m GLOBAL MARKETS Equity revenues: €346m, up 10% YoY driven by the strong performance of 2,060 global equity including with Groupe BPCE retail networks 1,926 89 1,038 1,022 200 238 FIC-T revenues: €668m down 1% vs. H1-22 956
Slide 22: Global Financial Services: Business Line P&L
Global Financial Services Business Line P&L Constant Constant €m(1) Q2-23 % Change Fx % H1-23 % Change Fx % change change AWM Net banking income 1,798 2% 3% 3,620 2% 1% Net revenues down 4% vs. H1-22 Overall AM fee rate excl. insurance driven management o/w AWM 776 (5)% (3)% 1,560 (4)% (5)% down vs.
Slide 23: Groupe BPCE, premium partner of the Paris 2024 Olympic & Paralympic Games
Groupe BPCE, premium partner of the Paris 2024 Olympic & Paralympic Games By supporting the success By ensuring the developme n t Becoming the bank of sport of Paris 2024 of the sports economy An obvious choice for Groupe BPCE and Success throughout France #1 private financier of sports infrastructu
Slide 24: Conclusion
Groupe BPCE results Capital and liquidity Business line results Conclusion
Slide 25: Conclusion
Conclusion SUSTAINED BALANCE SHEET AMONG ONGOING FOCUS ON COMMERCIAL LOW RISK PROFILE THE STRONGEST EFFICIENCY DEVELOPMENT IN EUROPE • Robust commercial • Very good control of • Cost of risk at a low • 15.2% CET1 ratio at end-June performance in RB&I: operating expenses level in H1-23: 16bps 2023; o
Slide 26: Annexes
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Slide 27: 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 28: Notes on methodology (1/4)
Notes on methodology (1/4) • IFRS 17 provides for the estimation at inception of the Contractual Presentation of the pro -forma quarterly results Service Margin (CSM) of a group of insurance contracts recognized in • The main pro-forma restatement concerns the transition to IFRS 17. the balance shee
Slide 29: Notes on methodology (2/4)
Notes on methodology (2/4) Creation of the Digital & Payments division Net banking income • The Payments and Oney business lines have been brought together • Customer net interest income, excluding regulated home savings within a single Digital & Payments division. schemes, is computed on the basis
Slide 30: Notes on methodology (3/4)
Notes on methodology (3/4) Cost of risk Total loss-absorbing capacity • The cost of risk is expressed in basis points and measures the level of The amount of liabilities eligible for inclusion in the numerator used to risk per business line as a percentage of the volume of loan calculate the Total L
Slide 31: Notes on methodology (4/4)
Notes on methodology (4/4) Liquidity Business line indicators – BP & CE networks Total liquidity reserves comprise the following: Average rate (%): the average customer rate for home loans corresponds • Central bank-eligible assets include: ECB-eligible securities not eligible to the weighted averag
Slide 32: 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 33: 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 34: 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 35: 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 36: 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 37: Q2-23 & Q2-22 results: reconciliation to alternative performance measures
Q2-23 & Q2-22 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 Q2-23 results 5,467 (3,799) (342) 2 1,337 973 Business lines/Corporate
Slide 38: H1-23 & H1-22 results: reconciliation to alternative performance measures
H1-23 & H1-22 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 H1-23 results 11,281 (8,386) (669) 51 2,305 1,506 Business lines/Corpor
Slide 39: 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 Q2-23 reported figures 5,467 (3,799) Impact of exceptional items 89 (48) SRF contribution 128 Q2-23 underlying figures excluding SRF 5,377 (3,879) 72.1% Unde
Slide 40: 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 H1-23 reported figures 11,281 (8,386) Impact of exceptional items 93 (104) SRF contribution (457) H1-23 underlying figures excluding SRF 11,188 (7,826) 69.9%
Slide 41: 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 Q2-23 Q2-22 Q2-23 Q2-22 Q2-23 Q2-22 Q2-23 Q2-22 % Net banking income 3,655 4,101 1,798 1,771 13 161 5,467 6,032 (9)% Operating expenses (2,459) (2,473) (1,28
Slide 42: Groupe BPCE: half-yearly income statement per business line
Groupe BPCE: half-yearly income statement per business line RETAIL BANKING GLOBAL FINANCIAL CORPORATE GROUPE & INSURANCE SERVICES CENTER BPCE €m H1-23 H1-22 H1-23 H1-22 H1-23 H1-22 H1-23 H1-22 % Net banking income 7,546 8,306 3,620 3,553 115 322 11,281 12,181 (7)% Operating expenses (4,955) (4,954)
Slide 43: Groupe BPCE: quarterly series
Groupe BPCE: quarterly series GROUPE BPCE €m Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Net banking income 6,149 6,032 5,934 5,844 5,815 5,467 Operating expenses (4,585) (3,904) (3,916) (4,233) (4,587) (3,799) Gross operating income 1,564 2,128 2,019 1,611 1,228 1,677 Cost of risk (411) (445) (342) (776) (
Slide 44: Consolidated balance sheet
Consolidated balance sheet ASSETS LIABILITIES June 30, 2023 Dec. 31, 2022 June 30, 2023 Dec. 31, 2022 €m €m Cash and amounts due from central banks 143,775 171,318 Amounts due to central banks 5 9 Financial assets at fair value through profit or Financial liabilities at fair value through profit or
Slide 45: Goodwill
Goodwill Other Dec. 31, 2022 Acquisitions Disposals Conversion June 30, 2023 changes €m Retail Banking & Insurance entities 754 74 (1) 827 Asset & Wealth Management entities 3,307 (2) (35) 3 3,274 Corporate & Investment Banking entities 147 (1) 146 Total 4,208 74 (2) (36) 2 4,246 45 RESULTS FOR THE
Slide 46: Statement of changes in shareholders' equity
Statement of changes in shareholders' equity Equity attributable to €m shareholders’ equity December 31st, 2022 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 47: 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 June 30, 2023 Dec. 31, 2022 12.7 13.3 Tier-2 capital €bn Equity attribuable to shareholders’ equity 82.9 82.1 28.7 29.3 Cooperative shares Cancelation of hybrid securities in equity CET1
Slide 48: Financial structure: distance to MDA
Financial structure: distance to MDA Capital Pillar I Pillar II conservation G-SIB Countercyclical Capital Jan. 1, 2023 requirement requirement buffer buffer buffer (CCyB) Total Pillar I Pillar II conservation G-SIB Countercyclical June 30, 2023 requirement requirement buffer buffer buffer (CCyB) To
Slide 49: Financial structure: prudential ratios and credit ratings
Financial structure: prudential ratios and credit ratings June 30, 2023(1) March 31, 2023 Dec. 31, 2022 Long-term SENIOR PREFERRED credit ratings (August 2, 2023) Total risk-weighed assets €460bn €463bn €461bn AA- Common Equity Tier-1 negative outlook €70.1bn €69.4bn €69.7bn capital Tier-1 capital €
Slide 50: 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) 32.5% Eligible Senior Preferred debt 7.6% 24.9% 25.0% 21.5% Senior Non-Preferred 5.7% Senior Non-Preferred 5.7% 4.0% 4.0% Tier 2 Tier 2 CET1 CET1 15.2% 15.2% 2023 TLAC June 30, 2023 20
Slide 51: Risk-Weighted Assets
Risk-Weighted Assets BREAKDOWN PER BUSINESS LINE (in €bn) BREAKDOWN PER TYPE OF RISK(1) (in €bn) 461 460 461 460 9% 9% 8% 8% Other 3% 3% Operational Risk 20% 20% Global Financial Services Market Risk Retail Banking & 88% 88% Insurance Credit Risk 72% 72% Dec. 31, 2022 June 30, 2023 Dec. 31, 2022 Jun
Slide 52: Leverage ratio
Leverage ratio €bn June 30, 2023(1) Dec. 31, 2022 Tier-1 capital 70.1 69.7 Balance sheet total(2) 1,508.1 1,530.5 Prudential restatements (103.4) (127.0) Prudential balance sheet total(2) 1,404.7 1,403.5 Adjustments related to exposure to derivates (3) (14.3) (26.3) Adjustments related to security f
Slide 53: 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 +4.6 72.9 Shift from a Cancellati
Slide 54: 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 maturing in the short-term by liquidity reserves (2) 335 322 310 276 177% 178% 150% 147% 1
Slide 55: Non-financial ratings
Non-financial ratings RANKINGS - RATING + A- Top 21% banks worldwide D- C B A- A C Prime « C Prime » status – 1st decile of world banks(1) D- D+ C- C A+ AA Top 30% banks worldwide(2) CCC B BB BBB A AA AAA 15.8 Top 13% banks worldwide(3) >40 30 20 10 0 62/100 Top 3% banks worldwide(4) 0 30 50 60 100
Slide 56: 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 Q2-23 Q2-22 % Q2-23 Q2-22 % Q2-23 Q2-22 % Q2-23 Q2-22 % Q2-23 Q2-22 % Q2-23 Q2-22 % Q2-23
Slide 57: Retail Banking & Insurance: half-yearly income statement
Retail Banking & Insurance: half-yearly income statement BANQUE POPULAIRE CAISSE D'EPARGNE FINANCIAL SOLUTIONS & RETAIL BANKING & INSURANCE DIGITAL & PAYMENTS OTHER NETWORK NETWORK NETWORK EXPERTISE INSURANCE €m H1-23 H1-22 % H1-23 H1-22 % H1-23 H1-22 % H1-23 H1-22 % H1-23 H1-22 % H1-23 H1-22 % H1-2
Slide 58: 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 €m Net banking income 4,205 4,101 4,057 3,835 3,891 3,655 Operating expenses (2,481) (2,473) (2,413) (2,637) (2,496) (2,459) Gross operating income 1,724 1,628 1,644 1,198 1,395 1,196 Cost of
Slide 59: 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 €m Net banking income 1,713 1,701 1,638 1,534 1,557 1,460 Operating expenses (1,003) (973) (990) (1,018) (1,018) (1,015) Gross operating income 711
Slide 60: Retail Banking & Insurance: deposits & savings and loan outstandings
Retail Banking & Insurance DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) Change YoY Change YoY 878 899 +2% +5% 248 713 268 678 (8)% Sight deposits 231 +4% Passbook savings accounts 399 222 378 (6)% Regulated home savings plans 76 +46% Term accounts +6% Residential mortgages 81 84 +34% BPCE
Slide 61: Retail Banking & Insurance: Banque Populaire network
Retail Banking & Insurance: Banque Populaire network DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) Change YoY Change YoY 372 +3% +5% 359 303 289 125 138 (9)% Sight deposits +5% Passbook savings accounts 169 160 75 72 (5)% Regulated home savings plans 21 +5% Residential mortgages +62% Term a
Slide 62: 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 501 509 +2% +5% 367 349 114 121 (6)% Sight deposits 155 228 149 +4% Passbook savings accounts 215 (6)% Regulated home savings plans 56 +29% Term accounts +6% Residential
Slide 63: 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 €m Net banking income 295 292 287 272 315 306 Operating expenses (149) (147) (147) (165) (157) (151) Gross operating 146 145 140 107 158 155 income Cost of risk (13) (15) (19) (39) (6
Slide 64: 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 €m Net banking income 127 (2) 112 170 180 126 Operating expenses (36) (41) (38) (51) (43) (37) Gross operating income 91 (43) 74 118 137 89 Income before tax 90 (46) 72 119 139 93 Net income – Group
Slide 65: Retail Banking & Insurance: Digital & Payments quarterly series
Retail Banking & Insurance: Digital & Payments quarterly series DIGITAL & PAYMENTS Q1-22 Q2-22 (at constant (at constant €m Q1-22 scope, Q2-22 scope, Q3-22 Q4-22 Q1-23 Q2-23 excluding excluding Bimpli) Bimpli) Net banking income 231 207 232 208 231 231 205 203 Operating expenses (182) (160) (178) (1
Slide 66: 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 €m Net banking income 84 89 86 88 97 97 Operating expenses (50) (52) (49) (58) (51) (52) Gross operating income 34 37 37 30 46 45 Cost of risk (5) (19) 0 (32) (2) 2 Income before tax 29 19 39
Slide 67: 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 % Q2-23 Q2-22 Q2-23 Q2-22 Q2-23 Q2-22 Net banking income 776 814 1,022 956 1,798 1,771 2% Operating expenses (634) (650) (647) (602) (1,282)
Slide 68: Global Financial Services: half-yearly income statement per business line
Global Financial Services: half-yearly income statement per business line CORPORATE & ASSET AND WEALTH GLOBAL FINANCIAL INVESTMENT MANAGEMENT SERVICES BANKING €m % H1-23 H1-22 H1-23 H1-22 H1-23 H1-22 Net banking income 1,560 1,627 2,060 1,926 3,620 3,553 2% Operating expenses (1,276) (1,294) (1,309)
Slide 69: 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 Net banking income 1,782 1,771 1,694 1,865 1,822 1,798 Operating expenses (1,275) (1,252) (1,265) (1,376) (1,303) (1,282) Gross operating 507 518 429 489 519 517 income Cost of risk (85) (84)
Slide 70: 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 Net banking income 812 814 796 929 784 776 Operating expenses (644) (650) (640) (704) (642) (634) Gross operating income 168 165 157 225 142 142 Cost of risk 6 (6) 4 1 6 (1) Income before tax
Slide 71: 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 Net banking income 970 956 898 935 1,038 1,022 Operating expenses (631) (602) (626) (671) (662) (647) Gross operating income 339 354 272 264 376 375 Cost of risk (90) (78) (23) (61)
Slide 72: Corporate center: quarterly series
Corporate center: quarterly series CORPORATE CENTER €m Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Net banking income 162 161 183 144 102 13 Operating expenses (829) (179) (237) (220) (788) (58) Gross operating income (667) (18) (54) (76) (686) (45) Cost of risk 4 18 38 (60) (46) 1 Share in income of associ
Slide 73: Performing & non-performing loans and impairment
Performing & non-performing loans and impairment €bn June 30, 2023 Dec.31, 2022 Gross outstanding loans to customers and credit institutions 953.6 938.9 O/w S1 outstandings 803.4 789.4 O/w S2 outstandings 127.7 128.1 O/w S3 outstandings 22.5 21.4 Non-performing loans/gross outstanding loans 2.4% 2.3
Slide 74: Cost of risk by business lines
Cost of risk by business lines S3 COST OF RISK(1) (in bps) S1/S2 37 22 28 9 22 22 17 12 10 14 BP network 9 19 12 15 17 23 (9) 28 15 13 17 16 15 CE network 8 12 7 10 9 7 2 10 11 22 5 (13) 37 20 22 z21 22 17 RB&I 12 13 10 14 11 14 15 24 8 10 2 (10) 56 54 44 54 17 33 10 80 13 7 CIB 27 23 2 6 (12) (1) (
Slide 75: Breakdown of gross exposures at June 30, 2023
Breakdown of gross exposures at June 30, 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 28% 4% 2% 3%
Slide 76: groupeBPCE.com
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