Natixis — Groupe BPCE — FY2018 Earnings Presentation
73 slides from Natixis's earnings presentation, Feb 12, 2019
Slide 1: Results for Full-Year and Q4 2018
RESULTS FOR FULL-YEAR AND Q4 2018 FEBRUARY 12, 2019
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: Key Messages 1/2: Significant strategic moves creating value
KEY MESSAGES 1/2 SIGNIFICANT STRATEGIC MOVES CREATING VALUE Partnership project1 enabling the group Execution of strategic projects well on track to seize new growth opportunities Integration of Crédit Foncier activities and expertise with a major in retail banking in Europe milestone of the impleme
Slide 4: Key Messages 2/2: Solid performance in 2018
KEY MESSAGES 2/2 SOLID PERFORMANCE IN 2018 IN A CHALLENGING ENVIRONMENT 2018 underlying Group 2018 underlying net income Continued improvement revenues (Group share) in our financial strength; +0.7% at €23.9bn, +3.7% at €3.5bn, targets achieved thanks to our diversified universal despite non-recurri
Slide 5: Contents
CONTENTS 1 Results of Groupe BPCE 2 Capital and liquidity 3 Results of the business lines 4 Conclusion 5 RESULTS FOR FULL-YEAR AND Q4 2018
Slide 6: 2018 & Q4-18 Results 1/3
2018 & Q4-18 RESULTS 1/3 2018 reported net income stable at €3.0bn, the transformation of the Group driving significant exceptional items 2018 Q4-18 2018 2017 Q4-18 Q4-17 €m vs. 2017 vs. Q4-17 reported reported reported reported reported reported Net banking income 24,001 23,720 +1.2% 5,844 5,918 -1
Slide 7: 2018 & Q4-18 Results 2/3: Exceptional items
2018 & Q4-18 RESULTS 2/3 Exceptional items, including high level of investments in transformation of the Group €m 2018 2017 Q4-18 Q4-17 Revaluation of assets associated with deeply subordinated notes denominated in foreign Net banking income Corporate center 14 -112 5 -7 currencies Breakdown of tran
Slide 8: 2018 & Q4-18 Results 3/3: Underlying net income
2018 & Q4-18 RESULTS 3/3 2018 underlying net income +3.7% to €3.5bn 2018 Q4-18 2018 Q4-18 2018 2017 vs. 2017 Q4-18 Q4-17 vs. Q4-17 €m vs. 2017 vs. Q4-17 underlying underlying underlying underlying underlying underlying underlying underlying constant FX constant FX Net banking income 23,919 23,885 0.
Slide 9: 2018 Results – Revenues
2018 RESULTS – REVENUES Synergies between business lines well on track (in €m) +4.1% 5,560 BP & CE network 5,342 Ramp-up of the commissions1 Bancassurance business model +12.6%2 3,419 Revenue synergies worth €280m as at December 31, Asset & Wealth 3,113 2018; 57% generated by the Insurance business
Slide 10: 2018 Results – Cost Synergies
2018 RESULTS – COST SYNERGIES Good execution of the transformation and business efficiency plan Contribution to cost synergies at December 31, 2018 Retail network expenses2 (in €m) 23% -1.8% 34% 2020 target: €802m1 €1bn 20% 9,952 9,893 9,773 23% Streamlining structure and IT Transformation of the cu
Slide 11: 2018 Results – Cost of Risk
2018 RESULTS - COST OF RISK A conservative risk policy, leading to low NPLs Cost of risk1 NPLs & coverage ratio Sound customer loan book In bps BP network 27 28 23 23 21 27 15 Ratio of non-performing loans/ CE network 15 gross loan outstandings French public Individuals / 15 20 15 13 22 sector resid
Slide 12: Contents
CONTENTS 1 Results of Groupe BPCE 2 Capital and liquidity 3 Results of the business lines 4 Conclusion 12 RESULTS FOR FULL-YEAR AND Q4 2018
Slide 13: Capital and Loss-Absorbing Capacity
CAPITAL AND LOSS-ABSORBING CAPACITY CET1 ratio at 15.5%1: 2018/2020 strategic plan target already reached Change in the CET1 ratio1 (in bps) Organic capital creation 43bps Pro forma impacts: ʘ Integration of the Consumer finance, Factoring, Leasing, Sureties & Guarantees +34bps 15.8% and Securitie
Slide 14: Liquidity 1/2
LIQUIDITY 1/2 €5.5bn of prefunding raised in 2018 2019 wholesale MLT funding plan lower than last year’s plan Structure of 2018 MLT funding Execution of the 2018 MLT funding plan ʘ Total of €27.5bn raised in 2018 (125% of the €22bn funding plan) with an average maturity at issue of 7.4 years and an
Slide 15: Liquidity 2/2: Sustainable development bonds
LIQUIDITY 2/2 New solutions in response to investors’ new focus: sustainable development bonds Human Development bonds Local Economic Development bonds Jan. 18, ʘ ¥26bn (€191m) of social bonds Sept. 2018 labelled Human Development issued 11, 2018 ʘ €1.25bn of social bonds labelled Local Economic Dev
Slide 16: Contents
CONTENTS 1 Results of Groupe BPCE 2 Capital and liquidity 3 Results of the business lines 4 Conclusion 16 RESULTS FOR FULL-YEAR AND Q4 2018
Slide 17: 2018 Results by Business Line
2018 RESULTS Retail banking & Insurance on a positive trend; strong delivery in AWM Retail Banking & Insurance Asset & Wealth Management (in €m) (in €m) % change at constant FX (% change at current FX) Net banking income1 Gross operating income Net banking income Gross operating income +0.1% +12.6%
Slide 18: Retail Banking & Insurance 1/8
RETAIL BANKING & INSURANCE 1/8 Income before tax +2.3% to €4.5bn Loans outstanding: €564bn, +4.8% YoY On-balance sheet deposits & savings1: Development of commissions (BP & CE networks) o/w residential mortgages +5.5% YoY €427bn, +2.5% YoY o/w equipment loans +7.5% YoY Life Insurance +8.1% YoY o/w c
Slide 19: Retail Banking & Insurance 2/8: Digitalization
RETAIL BANKING & INSURANCE 2/8 Digitalization: roll out and activation of the digital services for the benefit of our customers Online loan application solutions Faster pace in the use of mobile devices €63.6m Consumer loans of loans outstanding Entirely rolled out in the BP network in 2018; in 2019
Slide 20: Retail Banking & Insurance 3/8: Banque Populaire network
RETAIL BANKING & INSURANCE 3/8 Banque Popnetwork: Gross operating income +3.6% in 2018 Loan outstandings in €bn Deposits & Savings Principal active customers Private banking and Wealth Management customers +2.0% 261 266 +2.5% +5.7% +6.0% Off-balance sheet D&S 74 70 +93,300 209 +21,500 197 Centralize
Slide 21: Retail Banking & Insurance 4/8: Caisse d'Epargne network
RETAIL BANKING & INSURANCE 4/8 Caisse d’Epargn network: Operating expenses -1.3% in 2018 Loan outstandings in €bn Deposits & Savings Principal active customers Private banking and Wealth Management customers +1.4% 412 418 +0.9% +2.2% +6.2% Off-balance sheet D&S 134 135 +60,600 +9,500 270 255 Central
Slide 22: Retail Banking & Insurance 5/8: SFS
RETAIL BANKING & INSURANCE 5/8 SFS – Strong dynamics across all business lines Net banking income: +6.5% vs. 2017 Underlying figures1 ʘ Specialized financing: +4% YoY, driven by Leasing and Sureties 2018 % Change N-1 Q4-18 % Change N-1 & financial guarantees €m ʘ Payments: +16%, consistent with New
Slide 23: Project to acquire 50.1% of Oney Bank 6/8
RETAIL BANKING & INSURANCE: PROJECT1 TO ACQUIRE 50,1% OF ONEY BANK FROM AUCHAN HOLDING 6/8 A well established and growing bank with a profitable business model in Europe The Company A unique business model based on 400 partnerships ʘ Created in 1983, Oney Bank (formerly Banque Accord) With AFM2 netw
Slide 24: Project to acquire Oney Bank 7/8: Rationale
RETAIL BANKING & INSURANCE: PROJECT1 TO ACQUIRE 50,1% OF ONEY BANK FROM AUCHAN HOLDING 7/8 Providing Oney Bank with increased growth potential and Groupe BPCE with an opportunity for profitable expansion in Europe Key attributes of Oney Bank The rationale for Groupe BPCE ʘ Unique opportunity to init
Slide 25: Retail Banking & Insurance 8/8: Insurance
RETAIL BANKING & INSURANCE 8/8 Scope: Insurance division of Natixis Insurance – Sustained commercial activity across all business lines Premiums1 Life insurance AuMs1 Life1 and Personal protection insurance (in €bn) (in €bn) ʘ €10.5bn in earned premiums in 2018, +1% YoY 60.1 ʘ Total AuMs at €60.1bn
Slide 26: Asset & Wealth Management
ASSET & WEALTH MANAGEMENT Double-digit revenue growth both in Q4-18 and 2018, in challenging market conditions Asset Management: Asset management: 2018 net inflows nil in 2018 due to challenging market Assets under management1 (in €bn) conditions in Q4-18 ʘ Europe: +€11bn net inflows in 2018 (o/w +€
Slide 27: Corporate & Investment Banking
CORPORATE & INVESTMENT BANKING 2018 ROE above 10% in 2018 despite headwinds in Q4-18, thanks to diversification and asset-light model A diversified revenue mix Global markets: net revenues -15% YoY in 2018 at constant FX excluding the €259m non-recurring drag on Asian equity derivatives in Q4-18 and
Slide 28: Contents
CONTENTS 1 Results of Groupe BPCE 2 Capital and liquidity 3 Results of the business lines 4 Conclusion 28 RESULTS FOR FULL-YEAR AND Q4 2018
Slide 29: Conclusion: 2018/2020 strategic plan targets
CONCLUSION 2018/2020 strategic plan: 2018 financial targets/ guidance Groupe BPCE’s transformation well on track Revenues1 €23.9bn >€25bn Commissions: +4.1% ~ 3% BP/CE (excl. ERF2) RB&I = 66.8% RB&I ≈ 64% Cost/income ratio1 AWM = 65.7% AWM ≈ 68% CIB =63.6%3 CIB ≈ 60% Strategic move to ensure a targe
Slide 30: Annexes
RESULTS FOR FULL-YEAR AND Q4 2018 ANNEXES FEBRUARY 12, 2019
Slide 31: Contents
ANNEXES Contents Organizational structure of Groupe BPCE Retail Banking & Insurance ʘ Income statement and quarterly series Consolidated results of Groupe BPCE ʘ Banque Populaire and Caisse d’Epargne – ʘ Notes on methodology quarterly series ʘ Income statement: reconciliation of alternative performa
Slide 32: Organizational structure of Groupe BPCE at December 31, 2018
ANNEXES Organizational structure of Groupe BPCE at December 31, 2018 9 MILLION COOPERATIVE SHAREHOLDERS 100% 100% (3) FNBP(1) FNCE(2) 50% 50% 14 BANQUES POPULAIRES 15 CAISSES D’EPARGNE BPCE 100% 71% (5) SUBSIDIARIES (4) NATIXIS (1) Fédération Nationale des Banques Populaires (2) Fédération Nationale
Slide 33: Notes on methodology (1/5)
ANNEXES Notes on methodology (1/5) Presentation of the pro-forma quarterly results Exceptional items ʘ The segment information has been modified as of Q4-17 in ʘ The exceptional items and the reconciliation of the restated accordance with the presentation of the business lines in the 2018- income st
Slide 34: Notes on methodology (2/5)
ANNEXES Notes on methodology (2/5) Business line performance presented using Basel 3 Net banking income standards ʘ Customer net interest income, excluding regulated home savings ʘ The accounting ROE of Groupe BPCE is the ratio between the schemes, is computed on the basis of interest earned from fo
Slide 35: Notes on methodology (3/5)
ANNEXES Notes on methodology (3/5) Capital adequacy ʘ Common Equity Tier 1 is determined in accordance with the ʘ This amount is comprised of the following 4 items: applicable CRR/CRD IV rules; fully-loaded equity is presented Common Equity Tier 1 in accordance with the applicable without the appl
Slide 36: Notes on methodology (4/5)
ANNEXES Notes on methodology (4/5) Liquidity Customer deposits are subject to the following adjustments: Addition of security issues placed by the Banque Populaire ʘ Total liquidity reserves comprise the following: and Caisse d’Epargne retail banking networks with their Central bank-eligible ass
Slide 37: Notes on methodology (5/5)
ANNEXES Notes on methodology (5/5) Cost synergies ʘ Aggregate cost synergies correspond to the projected financial impact in 2020 of the synergies generated to date. Digital indicators ʘ The volume of consumer loan outstandings signed online corresponds to the amount of outstandings associated with
Slide 38: 2018 results: reconciliation of alternative performance measures
ANNEXES 2018 results: reconciliation of alternative performance measures to reported data Net income Net banking Operating Income attributable to Cost of risk income expenses before tax equity holders of the parent in millions of euros 2018 results 24,001 -17,687 -1,299 5,297 3,026 Revaluation of as
Slide 39: 2017 results: reconciliation of alternative performance measures
ANNEXES 2017 results: reconciliation of alternative performance measures to reported data Net income Net banking Operating Income attributable to Cost of risk income expenses before tax equity holders in millions of euros of the parent 2017 results 23,720 -17,098 -1,384 5,516 3,024 Revaluation of as
Slide 40: Q4-18 results: reconciliation of alternative performance measures
ANNEXES Q4-18 results: reconciliation of alternative performance measures to reported data Net income Net banking Operating Income attributable to Cost of risk income expenses before tax equity holders of the parent in millions of euros Q4-18 results 5,844 -4,621 -396 917 588 Revaluation of assets a
Slide 41: Q4-17 results: reconciliation of alternative performance measures
ANNEXES Q4-17 results: reconciliation of alternative performance measures to reported data Net income Net banking Operating Income attributable to Cost of risk income expenses before tax equity holders in millions of euros of the parent Q4-17 results 5,918 -4,418 -416 1,059 497 Revaluation of assets
Slide 42: Exceptional items and IFRIC 21 effects: 2018 vs. 2017
ANNEXES Exceptional items and IFRIC 21 effects per business line: 2018 vs. 2017 2018 Retail Banking & Corporate Groupe AWM CIB in €m Insurance center BPCE Impact of exceptional items -592 -20 -17 -106 -735 Total impact on Income before tax -592 -20 -17 -106 -735 Banque Populaire Caisse d'Epargne Oth
Slide 43: Exceptional items and IFRIC 21 effects: Q4-18 vs. Q4-17
ANNEXES Exceptional items and IFRIC 21 effects per business line: Q4-18 vs. Q4-17 Q4-18 Retail Banking & Corporate Groupe AWM CIB in €m Insurance center BPCE Impact of exceptional items -258 -8 -6 -37 -309 Impact of IFRIC 21 41 1 7 86 135 Total impact on Income before tax -218 -7 2 49 -174 Banque Po
Slide 44: Groupe BPCE: annual income statement per business line
ANNEXES Groupe BPCE: annual income statement per business line Corporate & Investment Retail Banking & Insurance Asset and Wealth Management Corporate center Groupe BPCE Banking in millions of euros 2018 2017 pf 2018 2017 2018 2017 2018 2017 2018 2017 % Net banking income 16,795 16,683 3,419 3,113 3
Slide 45: Groupe BPCE: quarterly income statement per business line
ANNEXES Groupe BPCE: Quarterly income statement per business line Corporate & Investment Retail Banking & Insurance Asset and Wealth Management Corporate center Groupe BPCE Banking in millions of euros Q4-18 Q4-17 pf Q4-18 Q4-17 Q4-18 Q4-17 Q4-18 Q4-17 Q4-18 Q4-17 % Net banking income 4,182 4,043 1,
Slide 46: Groupe BPCE: Quarterly series
ANNEXES Groupe BPCE: Quarterly series Groupe BPCE in millions of euros Q1-17 pf Q2-17 Q3-17 Q4-17 2017 Q1-18 Q2-18 Q3-18 Q4-18 2018 Net banking income 6,062 6,052 5,688 5,918 23,720 6,010 6,241 5,906 5,844 24,001 Operating expenses -4,564 -4,136 -3,980 -4,418 -17,098 -4,606 -4,235 -4,225 -4,621 -17,
Slide 47: Consolidated balance sheet under IFRS 9
ANNEXES Consolidated balance sheet under IFRS 9 ASSETS (in €m) Dec. 31, 2018 Jan. 1, 2018 LIABILITIES (in €m) Dec. 31, 2018 Jan. 1, 2018 Cash and amounts due from central banks 76,458 94,698 Amounts due to central banks 9 0 Financial assets at fair value through profit or loss 200,516 212,497 Financ
Slide 48: Goodwill
ANNEXES Goodwill Acquisitions Other Dec. 31, 2017 Impairment Conversion Dec. 31, 20187 In millions of euros /Disposals movements Retail Banking & Insurance entities 1,260 20 -16 -1 -24 1,239 Asset & Wealth Management entities 2,967 95 63 -4 3,121 Corporate & Investment Banking entities 77 48 4 129 T
Slide 49: Statement of changes in shareholders' equity
ANNEXES Statement of changes in shareholders' equity Equity attributable to equity holders of the parent In millions of euros December 31, 2017 64,029 IFRS 9 impact -1,553 st January 1 , 2018 62,476 Distributions -358 Capital increase (cooperative shares) 1,404 Income 3,026 Remuneration of super-sub
Slide 50: Financial structure: regulatory capital and fully-loaded ratios
ANNEXES Financial structure: changes in regulatory capital and fully-loaded ratios Reconciliation of shareholders' equity to total capital1,2 Regulatory capital1,2 (in €bn) Dec. 31, 2018 Dec. 31, 2017 74.3 75.4 In billions of euros 14,4 14.5 0.6 0.3 Tier-2 capital Equity attributable to equity holde
Slide 51: Financial structure: phased-in prudential ratios and credit ratings
ANNEXES Financial structure: phased-in prudential ratios and credit ratings Dec. 31, 20181,2 Dec. 31, 2017 Dec. 31, 2016 LONG-TERM SENIOR PREFERRED CREDIT RATINGS (FEBRUARY 12, 2019) Total risk-weighted assets €393bn €386bn €391bn A+ stable outlook Common Equity Tier-1 capital €62.2bn €59.0bn €55.3b
Slide 52: Risk-weighted assets
ANNEXES Risk-weighted assets Breakdown per business line (in €bn) Breakdown per type of risk1 (in €bn) (at current exchange rates) 386 393 Other 386 393 10% 8% 10% 10% 15% 3% 3% 15% 3% 3% Corporate & Investment Banking Operational risk Market risk Asset & Wealth 87% 87% 72% 74% Management Credit ris
Slide 53: Leverage ratio
ANNEXES Leverage ratio1 Dec. 31, 2018 Dec. 31, 2017 In billions of euros Tier-1 capital 62.3 59.7 Deduction of irrevocable payment commitments -0.6 - Tier-1 capital restated3 61.7 59.7 Balance sheet total 1,273.9 1,241.7 Prudential restatements -104.9 -81.1 Prudential balance sheet total2 1,169.0 1,
Slide 54: Financial conglomerate
ANNEXES Financial conglomerate CRR/CRD IV2 Restatements Financial viewpoint conglomerate viewpoint Financial conglomerate ratio -0.1 Banking CR1 Total capital (CRR/CRD IV) (in €bn) 77.0 76,9 76,9 76,9 76.9 Regulatory + capital > Insurance CR1 (Solvency 2) 1 2 3 - Restatements applied +4.0 49.4 1 shi
Slide 55: Liquidity reserves and short-term funding
ANNEXES Liquidity reserves and short-term funding Total liquidity reserves of Groupe BPCE1 Short-term funding and MLT debt maturing (in €bn) in the short term (in €bn) 174% 230 158% 160% 214 204 71 83 67 27 22 20 66 62 119 107 58 101 Dec. 31, 2016 Dec. 31, 2017 Dec. 31, 2018 93 73 74 Coverage ratio
Slide 56: Retail Banking & Insurance: 2018 income statement
ANNEXES Retail Banking & Insurance: 2018 income statement Specialized Financial Retail Banking & Banque Populaire network Caisse d'Epargne network Insurance Other networks Services Insurance in millions of euros 2018 2017 pf % 2018 2017 % 2018 2017 % 2018 2017 % 2018 2017 % 2018 2017 pf % Net bankin
Slide 57: Retail Banking & Insurance: quarterly income statement
ANNEXES Retail Banking & Insurance: quarterly income statement Specialized Financial Retail Banking & Banque Populaire network Caisse d'Epargne network Insurance Other networks Services Insurance in millions of euros Q4-18 Q4-17 pf % Q4-18 Q4-17 % Q4-18 Q4-17 % Q4-18 Q4-17 % Q4-18 Q4-17 % Q4-18 Q4-1
Slide 58: Retail Banking & Insurance: quarterly series
ANNEXES Retail Banking & Insurance: quarterly series Retail Banking & nsurance in millions of euros Q1-17 pf Q2-17 pf Q3-17 pf Q4-17 pf 2017 pf Q1-18 Q2-18 Q3-18 Q4-18 2018 Net banking income 4,302 4,260 4,078 4,043 16,683 4,176 4,292 4,146 4,182 16,795 Operating expenses -2,975 -2,824 -2,717 -2,979
Slide 59: 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 in millions of euros Q1-17 pf Q2-17 Q3-17 Q4-17 pf 2017 pf Q1-18 Q2-18 Q3-18 Q4-18 2018 Net banking income 1,609 1,598 1,564 1,524 6,294 1,586 1,641 1,557 1,588 6,371 Operatin
Slide 60: Retail Banking & Insurance: change in net banking income
ANNEXES Retail Banking & Insurance: change in net banking income Banque Populaire network (in €m) Caisse d’Epargne network (in €m) +0.6% -2.5% Change Change 7,133 6,952 6,332 6,371 210 -79 131 145 83 -62 2,878 3,016 +138 2,464 2,544 +80 132 180 19 48 -26 4,026 -268 3,591 3,565 3,758 2017 pf 2018 201
Slide 61: Retail Banking & Insurance: deposits, savings and loans
ANNEXES Retail Banking & Insurance Deposits & Savings (in €bn) Loan outstandings (in €bn) Change YoY Change YoY 694.6 704.8 +1.5% +4.8% 159.8 174.0 +8.8% Sight deposits 563.8 537.8 +2.4% Passbook savings accounts 173.7 +5.5% Home loans 177.8 +1.5% Regulated home savings plans 358.9 340.3 +7.3% Consu
Slide 62: Banque Populaire network: deposits, savings and loans
ANNEXES Retail Banking & Insurance: Banque Populaire network Deposits & Savings (in €bn) Loan outstandings (in €bn) Change YoY Change YoY +2.0% +6.0% 265.7 260.6 209.0 197.2 82.0 88.7 +8.2% Sight deposits +8.1% Home loans +5.3% Passbook savings accounts 119.7 +9.1% Consumer loans 49.3 110.7 51.9 +3.
Slide 63: Caisse d'Epargne network: deposits, savings and loans
ANNEXES Retail Banking & Insurance: Caisse d’Epargne network Deposits & Savings (in €bn) Loan outstandings (in €bn) Change YoY Change YoY 412.4 418.4 +1.4% +6.2% 68.6 76.2 +11.0% Sight deposits 270.3 254.6 +1.3% Passbook savings 122.7 124.2 accounts +7.4% Home loans +1.0% Regulated home savings plan
Slide 64: SFS quarterly series
ANNEXES Retail Banking & Insurance: SFS quarterly series Specialized Financial Services in millions of euros Q1-17 Q2-17 Q3-17 Q4-17 2017 Q1-18 Q2-18 Q3-18 Q4-18 2018 Net banking income 344 347 341 350 1,382 362 371 366 373 1,472 Operating expenses -233 -228 -229 -249 -939 -245 -250 -248 -260 -1,004
Slide 65: Insurance quarterly series
ANNEXES Retail Banking & Insurance: Insurance quarterly series Insurance in millions of euros Q1-17 pf Q2-17 pf Q3-17 pf Q4-17 2017 Q1-18 Q2-18 Q3-18 Q4-18 2018 Net banking income 189 179 176 190 734 204 193 192 201 790 Operating expenses -129 -102 -99 -109 -439 -118 -108 -103 -118 -448 Gross operat
Slide 66: Other networks quarterly series
ANNEXES Retail Banking & Insurance: Other networks quarterly series Other networks in millions of euros Q1-17 Q2-17 Q3-17 Q4-17 2017 Q1-18 Q2-18 Q3-18 Q4-18 2018 Net banking income 344 335 279 229 1,187 311 326 285 289 1,211 Operating expenses -255 -227 -182 -242 -907 -235 -225 -385 -411 -1,256 Gros
Slide 67: Asset & Wealth Management: quarterly series
ANNEXES Asset & Wealth Management: quarterly series Asset & Wealth Management in millions of euros Q1-17 pf Q2-17 pf Q3-17 pf Q4-17 2017 Q1-18 Q2-18 Q3-18 Q4-18 2018 Net banking income 704 743 766 899 3,113 777 819 818 1,005 3,419 Operating expenses -519 -521 -528 -610 -2,178 -529 -549 -564 -622 -2,
Slide 68: Corporate & Investment Banking: quarterly series
ANNEXES Corporate & Investment Banking: quarterly series Corporate & Investment Banking in millions of euros Q1-17 pf Q2-17 pf Q3-17 pf Q4-17 2017 Q1-18 Q2-18 Q3-18 Q4-18 2018 Net banking income 971 1,019 775 817 3,581 938 965 822 512 3,237 Operating expenses -566 -555 -506 -567 -2,194 -564 -549 -52
Slide 69: Corporate center: quarterly series
ANNEXES Corporate center: quarterly series Corporate center in millions of euros Q1-17 pf Q2-17 pf Q3-17 pf Q4-17 2017 Q1-18 Q2-18 Q3-18 Q4-18 2018 Net banking income 86 29 68 159 342 119 165 121 145 550 Operating expenses -504 -236 -230 -261 -1,232 -580 -317 -256 -305 -1,458 Gross operating income
Slide 70: Non-performing loans and impairment
ANNEXES Non-performing loans and impairment December 31, Jan. 1, 2018 2018 In billions of euros Gross outstanding loans to customers and credit institutions 763.1 730.1 O/w S3 outstandings 21.5 23.2 Non-performing/gross outstanding loans 2.8% 3.2% S3 impairment recognized 9.7 10.5 Impairment recogni
Slide 71: Cost of risk
ANNEXES Cost of risk Cost of risk, in bps1 23 23 22 22 21 27 27 28 21 15 Banque Populaire network 15 15 15 20 13 22 14 10 10 15 Caisse d’Epargne network 20 18 33 27 17 20 12 15 21 Corporate & Investment Banking2 8 22 24 20 24 19 16 16 20 19 16 Groupe BPCE2 2017 2018 Q1-17 Q2-17 Q3-17 Q4-17 Q1-18 Q2-
Slide 72: Breakdown of commitments at December 31, 2018
ANNEXES Breakdown of commitments at December 31, 2018 Breakdown per counterparty Breakdown per geographical region Financial institutions/local Central administrations/Central banks and 5% 28% government market other sovereign exposures 8% 6% 1% 1% 2% 8% 6% 13% 4% €1,153bn 13% 14% 7% 44% 1% 71% 34%
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