Natixis — Groupe BPCE — FY2015 Earnings Presentation
87 slides from Natixis's earnings presentation, Feb 10, 2016
Slide 1: Results for full-year 2015
Results for February 10, 2016 full-year 2015
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: Solid results, demonstrating clear progress in 2015
Solid results, demonstrating clear progress in 2015 Net income attributable to equity holders of the parent: +11.6% to €3.2bn Banque Populaire and Caisse d’Epargne retail banking networks Deposits & savings: +3.9% year-on-year, rising to €628bn (+€28bn in on-balance sheet deposits & savings, excludi
Slide 4: 2014 – 2017 Strategic Plan: halfway progress report
2014 – 2017 Strategic Plan: halfway progress report A simple organization thanks to work done since the Group was first created and a stable governance structure Priority focus on strengthening the Group’s balance sheet and reducing its risk profile in anticipation of new regulatory measures Capital
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 10, 2016 Results for full-year 2015 5
Slide 6: Limited impact of non-economic and exceptional items in 2015
Limited impact of non-economic and exceptional items in 2015 2015 2014 pf Q4-15 Q4-14 pf Non-economic items Net income Net income Net income Net income in millions of euros attributable attributable attributable attributable Income Income Income Income to equity to equity to equity to equity before
Slide 7: Sharp growth in Groupe BPCE's financial results in 2015
Sharp growth in Groupe BPCE’s financial results in 2015 Net income: +11.6%, rising to €3.2bn Core business Core business Results 2015 2014 pf 2015/2014 pf lines2 lines2 2015/2014 pf in millions of euros % change 2015 2014 pf % change 1 Net banking income 23,824 22,791 4.5% 23,249 22,056 5.4% 1 Opera
Slide 8: Groupe BPCE's net income enhanced in Q4-15, up 10.7% to €626m
Groupe BPCE’s net income enhanced in Q4-15, up 10.7% to €626m Core business Core business 3 3 Results Q4-15 Q4-14 pf Q4-15/Q4-14 pf lines lines Q4-15/Q4-14 pf in millions of euros % change Q4-15 Q4-14 pf % change 1 Net banking income 5,936 5,694 4.2% 5,755 5,544 3.8% Operating expenses -4,222 -4,039
Slide 9: Results of Groupe BPCE: cost of risk
Results of Groupe BPCE Cost of risk equal to 29bps1 in 2015, stable vs. 2014, at a moderate level Cost of risk in bps1 Banque Populaire banks 41 36 50 40 38 40 25 Annual cost of risk down by 5bps vs. 2014; decline in individual provisions Caisses d’Epargne 28 26 29 32 24 19 27 Annual cost of risk do
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 10, 2016 Results for full-year 2015 10
Slide 11: Capital adequacy
Capital adequacy Improvement in the CET1 ratio: +120bps in 2015, rising to 13.2%1,2 Change in Q4-15 Change in 2015 +36bps +41bps +14bps +73bps +24bps - 31bps -31bps - 20bps 13.2%1,2 12,4%2 12.9%2 12.7%1 13.2%1,2 12.9%2 12.0%1 12,7%1,2 CET1 ratio at Retained Q4-15 Change in RWA CET1 ratio at Dec. Imp
Slide 12: Capital adequacy
Capital adequacy Sharp increase in the total capital ratio, on course to reach the 18%1,2 target in early 2019, allowing compliance with the TLAC Total capital ratios3 (as a %) 17.0%4 15.6% 3.4 Improvement in the total capital ratio in 2015: 13.1% 2.6 0.4 +140bps 1.5 1.0 1.2 Chiefly derived from the
Slide 13: Liquidity
Liquidity Liquidity reserves account for 138% of short-term funding plus MLT and subordinated debt maturing in ≤ 1 year Liquidity reserves1 (in €bn) Group customer loan/deposit ratio3 and short-term funding 147% Liquidity reserves: €161bn at Dec. 31, 2015 138% 4 128% 5 €46bn in cash placed with cent
Slide 14: Liquidity
Liquidity 108% of the 2015 MLT wholesale funding plan completed at Dec. 31, 2015 108% of the 2015 MLT wholesale funding plan Breakdown of 2015 MLT funding in line with completed at Dec. 31, 2015 objectives €27.1bn raised for a €25bn plan Average maturity at issue: 5.2 years Average rate: mid-swap +1
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 10, 2016 Results for full-year 2015 15
Slide 16: Results of the business lines
Results of the business lines Commercial Banking & Insurance Results 2015 2014 pf 2015/2014 pf Q4-15 Q4-14 pf Q4-15/Q4-14 pf in millions of euros % change % change Net banking income 15,371 15,045 2.2% 3,673 3,733 -1.6% 1 Net banking income 15,414 15,020 2.6% 3,680 3,709 -0.8% 1 Banque Populaire ban
Slide 17: Commercial Banking & Insurance: customer dynamics
Results of the business lines Commercial Banking & Insurance: customer dynamics mitigates the impact of the decline in rates on customer net interest margin Unless specified to the contrary, all changes are vs. Dec. 31, 2014 Commercial activity of the BP and CE retail banking networks Deposits & sav
Slide 18: Banque Populaire banks: growth in all business lines in 2015
Results of the business lines Banque Populaire banks: growth in all business lines in 2015 Unless specified to the contrary, all changes are vs. Dec. 31, 2014 Customer base Deposits & savings and loan outstandings Principal active customers using banking services: +47,000, (in €bn) +1.4% Individual
Slide 19: Caisses d'Epargne: growth in deposits, loans and insurance
Results of the business lines Caisses d’Epargne: the strategy of expanding banking services and products has led to growth in deposits, loans and the insurance portfolio Unless specified to the contrary, all changes are vs. Dec. 31, Unless specified to the contrary, all changes are vs. Dec. 31, 2014
Slide 20: Other networks/Real estate Financing
Results of the business lines Other networks/Real estate Financing1 Unless specified to the contrary, all changes are vs. Dec. 31, 2014 Loan outstandings4 (in €bn) – Core business lines 88 87 84 5 5 5 Dynamic commercial activity 32 31 30 Aggregate new loan production of €10.4bn in 2015 driven Acquis
Slide 21: Other networks/CNP and others, BPCE International and Banque Palatine
Results of the business lines Other networks/ CNP and others, BPCE International and Banque Palatine Unless specified to the contrary, all changes are vs. Dec. 31, 2014 CNP and others1 Life insurance: Business activity indicators >Gross new inflows from the Caisses d’Epargne equal to €2.5bn in Q4-15
Slide 22: Core business lines of Natixis
Results of the business lines Core business lines of Natixis: Investment Solutions, Wholesale Banking and Specialized Financial Services 1 Results 2015/2014 pf Q4-15/Q4-14 pf 2015 2014 pf Q4-15 Q4-14 pf in millions of euros % change % change 1 Net banking income 7,878 7,011 12.4% 2,082 1,811 15.0% I
Slide 23: Core business lines of Natixis: enhanced profitability in 2015
Results of the business lines Core business lines of Natixis: enhanced profitability in 2015 chiefly driven by Asset Management Change in core business line net revenues1 and income before tax1 of the core business Investment Solutions: income before tax +41% lines (in €m) vs. 2014 Record-breaking a
Slide 24: Investment Solutions: sharp increase in revenues
Results of the business lines Investment Solutions: sharp increase in revenues posted by all the business lines Asset management Asset management: AuM (in €bn) Net inflows in 2015 > €20bn in Europe and €12bn in the United States >Continued growth dynamic with the major affiliates such as Loomis +44
Slide 25: Wholesale Banking: good resilience in 2015
Results of the business lines Wholesale Banking: good resilience in 2015 despite a difficult business environment in the second half of the year Financing activities Structured financing Change in revenues3 (in €m) >Enhanced impact of commissions in revenues thanks to O2D: Financing activities Capit
Slide 26: SFS: very fine performance by Specialized financing
Results of the business lines SFS: very fine performance achieved by Specialized financing in 2015 Specialized financing Sureties & financial guarantees >Net revenues: +20% vs. 2014. Written premiums +57% vs. 2014 Factoring >Net revenues: +8% vs. 2014. Factored turnover: +19% in 2015 with Natixis cu
Slide 27: Equity interests
Equity interests Results 2015 2014 pf 2015/2014 pf Q4-15 Q4-14 pf Q4-15/Q4-14 pf in millions of euros % change % change 1 Net banking income 827 830 -0.4% 190 195 -2.8% Operating expenses -683 -694 -1.6% -165 -180 -8.6% 1 Gross operating income 144 135 6.2% 25 15 68.8% Cost of risk -18 -10 76.0% -5
Slide 28: Contents
Contents 1 2 3 4 5 Results of Capital Results of Strategic Conclusion Groupe adequacy the plan BPCE and business liquidity lines February 10, 2016 Results for full-year 2015 28
Slide 29: Strengthening of capital adequacy and liquidity, ahead of target
Extremely significant strengthening of capital adequacy and liquidity, ahead of target Capital adequacy Liquidity 2017 targets achieved in less than 2 years LCR target achieved as of June 2014 CET1 ratio: 12.9%1 (2017 target: ≥ 12%1) LCR > 110% at Dec. 31, 2015 Leverage ratio: 5.0%1 at Dec. 31, 2015
Slide 30: Completion of the drive to refocus the Group on core business lines
Completion of the drive to refocus the Group on its core business lines GAPC wound up in June 2014 Cost of risk (expressed in annualized basis points on gross customer loan outstandings) Workout management of a securitization portfolio (derived from Crédit Foncier) Information provided Exposure more
Slide 31: Financial performance in line with strategic objectives
Financial performance in line with strategic objectives Revenues of the core business lines (in €bn) A robust and diversified revenue base Commercial banking and insurance: significant +9.4% growth in income before tax vs. 2014, despite persistent low interest rates 23.2 ≥ 23 Insurance: strong comme
Slide 32: Repositioning of the business lines: Natixis business model
Repositioning of the business lines Transformation of Natixis’ business model Investment Solutions: enhanced contribution Core business lines Net new fund inflows: €61bn in 2 years in asset Contribution to income before tax (as a %) management for a 2014-2017 target of €75bn Growth in business activ
Slide 33: Creation within Natixis of a single insurance platform
Repositioning of the business lines Creation within Natixis of a single insurance platform Assurément #2016 program: the major stages already complete Life insurance1 (as a %) Definition of the new life and provident insurance product range, simplified and tailored to the different customer segments
Slide 34: Buoyant commercial activities in the BP & CE retail networks
Buoyant commercial activities in the BP & CE retail banking networks against a background of anemic economic growth Buoyant new fund inflows: +€47bn in 2 years Deposits & savings +8.1% since end-2013 Growth in outstandings (in €bn) (Banque Populaire and Caisse d’Epargne retail banking networks) On-b
Slide 35: Revenue and cost synergies
Revenue and cost synergies Contribution to revenue synergies €410m in revenue synergies as at December 31, Per business line 2015 58% 2017 target for additional revenues generated Insurance between the Banque Populaire banks, Caisses 24% d’Epargne and Natixis: €870m Consumer finance Sureties and gua
Slide 36: Digital transformation
Digital transformation Customers subscribing to on-line banking services Accelerated transformation of our customer relationship model 1.2 billion digital connections vs. 1.05 billion in 2014 December December 2017 (+14%) 2013 2015 target: 3.2 million mobile apps downloaded/year 50% of connections m
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 10, 2016 Results for full-year 2015 37
Slide 38: Conclusion
Conclusion Significantly Growth momentum Robust 2015 2014-2017 strengthened of the core results strategic plan – balance sheet business lines halfway progress maintained Revenues generated report and CET1 ratio: 13.2%1 by the core business perspectives: (+120bps vs. Dec. 31, Deposits & savings3 line
Slide 39: Annexes
Results for full-year 2015 February 10, 2016 Annexes
Slide 40: Annexes contents
Annexes Organizational structure of Groupe BPCE Commercial Banking and Insurance Income statement Consolidated results of Groupe BPCE Banque Populaire network Notes on methodology – Changes in savings and loan outstandings Income statement: reconciliation of consolidated data Caisse d’Epargne networ
Slide 41: Organizational structure of Groupe BPCE
Annex - Groupe BPCE Organizational structure of Groupe BPCE at Dec. 31, 2015 8.9 MILLION COOPERATIVE SHAREHOLDERS 100% 100%* 50% 50% BPCE S.A. 100% 71% * Indirectly through Local Savings Companies 29% FLOAT February 10, 2016 Results for full-year 2015 41
Slide 42: Notes on methodology
Annex – Consolidated results of Groupe BPCE Notes on methodology Presentation of pro forma 2014 quarterly and full-year results The segment information has been modified as of Q2-14. The Commercial Banking & Insurance division is now divided into 3 sub- divisions: the Banque Populaire banks, the Cai
Slide 43: Notes on methodology – IFRIC 21
Annex – Consolidated results of Groupe BPCE Notes on methodology – IFRIC 21 First application of the IFRIC 21 interpretation Approval in June 2014 by the European Union of the IFRIC interpretation 21 relating to the recognition of levies charged by a public authority (other than income tax). Applica
Slide 44: 2015 income statement reconciliation
Annex - Groupe BPCE 2015 income statement: reconciliation of consolidated data (excluding non-economic and exceptional items) to published consolidated data Provision Disposal of Contribution Results booked on a Changes in international to the Single Capital gains Disposal of in millions of euros 20
Slide 45: Quarterly income statement reconciliation
Annex - Groupe BPCE Quarterly income statement: reconciliation of consolidated data (excluding non-economic and exceptional items) to published consolidated data Provision Disposal of Contribution Results booked on a Changes in international to the Single Disposal of in millions of euros Q4-15 Gain
Slide 46: Pro-forma to published data reconciliation
Annex - Groupe BPCE Income statement: reconciliation of pro-forma consolidated data to published consolidated data Wholesale Banking, investment Solutions Groupe BPCE Commercial Banking and Insurance Equity interests Corporate center and SFS Changes in the Changes in Changes in Changes in the Pf C.C
Slide 47: Pro-forma to published data reconciliation
Annex - Groupe BPCE Income statement: reconciliation of pro-forma consolidated data to published consolidated data Wholesale Banking, investment Solutions Groupe BPCE Commercial Banking and Insurance Equity interests Corporate center and SFS Changes in the Changes in the Changes in the Changes in th
Slide 48: Annual income statement per business line
Annex - Groupe BPCE Annual income statement per business line Investment Commercial Banking Solutions, Core businesses Equity interests Corporate center Groupe BPCE & Insurance Wholesale Banking and SFS in millions of euros 2015 2014 pf 2015 2014 pf 2015 2014 pf % 2015 2014 pf 2015 2014 pf 2015 2014
Slide 49: Quarterly income statement per business line
Annex – Groupe BPCE Quarterly income statement per business line Investment Commercial Solutions, Banking & Core businesses Equity interests Corporate center Groupe BPCE Wholesale Banking Insurance and SFS in millions of euros Q4-15 Q4-14 pf Q4-15 Q4-14 pf Q4-15 Q4-14 pf % Q4-15 Q4-14 pf Q4-15 Q4-14
Slide 50: Quarterly income statement
Annex – Groupe BPCE Quarterly income statement Groupe BPCE in millions of euros Q1-14 pf Q2-14 pf Q3-14 pf Q4-14 pf 2014 pf Q1-15 Q2-15 Q3-15 Q4-15 2015 Net banking income 5,643 5,735 5,477 5,533 22,387 6,191 6,058 5,740 5,879 23,868 Operating expenses -4,025 -3,846 -3,687 -4,039 -15,598 -4,318 -3,9
Slide 51: Consolidated balance sheet
Annex – Groupe BPCE Consolidated balance sheet ASSETS in millions of euros Dec. 31, 2015 Dec. 31, 2014 LIABILITIES in millions of euros Dec. 31, 2015 Dec. 31, 2014 C ash and amounts due from central banks 71,119 79,028 Amounts due to central banks 0 2 Financial assets at fair value through profit or
Slide 52: Goodwill
Annex – Groupe BPCE Goodwill Dec. 31, Acquisitions Other Dec. 31, in millions of euros Impairment Conversion 2014 /Disposals movements 2015 Commercial Banking and 903 19 -19 -3 1 901 Insurance entities Natixis 2,702 584 0 155 12 3,453 Total 3,605 603 -19 152 13 4,354 Goodwill impairment is recognize
Slide 53: Statement of changes in shareholders' equity
Annex – Financial structure Statement of changes in shareholders' equity Equity attributable in millions of euros to equity holders of the parent December 31, 2014 55,290 Effect of the application of IFRIC interpretation 21 46 Distributions -379 Capital increase (cooperative shares) 953 Income 3,242
Slide 54: Reconciliation of shareholders' equity to total capital
Annex – Financial structure Reconciliation of shareholders' equity to total capital1 -0.9 in billions of euros +14.1 +4.1 -4.7 -2.0 -1.0 -2.42 +1.6 66,4 66.4 57.6 51,6 51.6 51,6 53.2 53,2 Equity Cancellation Non-controlling Goodwill EL/Prov Other Common Additional Tier-1 Tier-2 Deductions Total capi
Slide 55: Prudential ratios and credit ratings
Annex – Financial structure Prudential ratios and credit ratings Dec. 31, 2015 1 Dec. 31, 2014 Dec. 31, 2013 pf Total risk-weighted assets €391bn €393bn €409bn Common Equity Tier-1 capital €50.9bn €46.6bn €42.3bn Tier-1 capital €52.2bn €50.0bn €46.5bn Total capital €65.8bn €60.5bn €53.6bn Common Equ
Slide 56: Breakdown of risk-weighted assets
Annex - Financial structure Breakdown of risk-weighted assets at December 31, 2015 Commercial Banking & 85% Credit risk Insurance 66% CVA Natixis Market risk 29% Other 1% Operational risk 4% 5% 10% February 10, 2016 Results for full-year 2015 56
Slide 57: Leverage ratio
Annex Leverage ratio1 in billions of euros Dec. 31, 2015 Dec. 31, 2014 Tier-1 capital 53.2 51.1 Balance sheet total 1,166.5 1,223.3 Prudential restatements -68.6 -66.1 Prudential balance sheet total2 1,097.9 1,157.2 Adjustments related to exposure to derivatives3 -48.1 -35.3 Adjustments related to s
Slide 58: Financial conglomerate
Annex Financial conglomerate CRR/CRD 42 Restatements Financial Financial conglomerate ratio viewpoint conglomerate viewpoint +0.4 Banking CR1 (CRR/CRD4) Regulatory capital > + Insurance CR1 (Solvency 1) Total capital 65.8 60,2 60,2 66.2 (in €bn) 1 2 3 Transfer from the Basel 3 ratio2 to the conglome
Slide 59: Commercial Banking & Insurance annual income statement
Annex - Commercial Banking & Insurance Annual income statement per business line Commercial Banking & Banque Populaire banks Caisses d'Epargne Other networks Insurance in millions of euros 2015 2014 pf % 2015 2014 pf % 2015 2014 pf % 2015 2014 pf % Net banking income 6,506 6,359 2.3% 7,291 7,268 0.3
Slide 60: Commercial Banking & Insurance quarterly income statement
Annex - Commercial Banking & Insurance Quarterly income statement per business line Commercial Banking & Banque Populaire banks Caisses d'Epargne Other networks Insurance Q4-14 Q4-14 Q4-14 Q4-14 in millions of euros Q4-15 % Q4-15 % Q4-15 % Q4-15 % pf pf pf pf Net banking income 1,543 1,563 -1.3% 1,7
Slide 61: Commercial Banking & Insurance quarterly income statement
Annex - Commercial Banking & Insurance Quarterly income statement Commercial Banking & Insurance in millions of euros Q1-14 pf Q2-14 pf Q3-14 pf Q4-14 pf 2014 pf Q1-15 Q2-15 Q3-15 Q4-15 2015 Net banking income 3,774 3,729 3,809 3,733 15,045 3,951 3,888 3,859 3,673 15,371 Operating expenses -2,618 -2
Slide 62: Banque Populaire banks and Caisses d'Epargne quarterly
Annex - Commercial Banking & Insurance Quarterly income statement: Banque Populaire banks and Caisses d’Epargne Banque Populaire banks in millions of euros Q1-14 pf Q2-14 pf Q3-14 pf Q4-14 pf 2014 pf Q1-15 Q2-15 Q3-15 Q4-15 2015 Net banking income 1,603 1,607 1,586 1,563 6,359 1,655 1,646 1,663 1,54
Slide 63: Banque Populaire network: deposits & savings
Annex - Commercial Banking & Insurance Banque Populaire network: customer deposits & savings (in €bn) 229.5 217.1 207.1 61.7 54.4 % change 49.1 Q4-15/Q4-14 Demand deposits +13.4% 44.2 42.6 42.3 Passbook savings accounts +3.9% 16.3 17.8 Regulated home savings 15.2 +9.5% plans 29.9 30.9 28.4 Term acco
Slide 64: Banque Populaire network: loan outstandings
Annex - Commercial Banking & Insurance Banque Populaire retail network: customer loan outstandings (in €bn) 172.6 165.5 167.4 % change Q4-15/Q4-14 89.9 94.7 Home loans +5.4% 87.4 Consumer loans +8.4% Short-term credit facilities +5.9% 6.6 6.8 7.4 10.6 11.1 11.8 Equipment loans +1.0% Other Ns 54.2 53
Slide 65: Caisse d'Epargne network: deposits & savings
Annex - Commercial Banking & Insurance Caisse d’Epargne retail network: customer deposits & savings1,2 (in €bn) 399.1 387.6 374.3 55.4 % change 48.3 40.7 Q4-15/Q4-14 pf Demand deposits +14.6% 122.9 131.9 128.0 Passbook savings accounts -4.0% Regulated home savings +10.7% plans 46.9 51.9 42.1 Term ac
Slide 66: Caisse d'Epargne network: loan outstandings
Annex - Commercial Banking & Insurance Caisse d’Epargne retail network: customer loan outstandings1 (in €bn) 224.6 213.8 200.9 % change 135.5 Q4-15/Q4-14 pf 128.2 120.2 Home loans +5.7% Consumer loans +13.0% Short-term credit facilities +5.9% 11.6 13.1 11.1 8.9 8.2 8.4 Equipment loans +3.6% Other Ns
Slide 67: Quarterly income statement - Other networks
Annex - Commercial Banking & Insurance Quarterly income statement - Other networks (*) Other networks in millions of euros Q1-14 pf Q2-14 pf Q3-14 pf Q4-14 pf 2014 pf Q1-15 Q2-15 Q3-15 Q4-15 2015 Net banking income 325 354 387 351 1,418 388 405 401 380 1,573 Operating expenses -260 -231 -219 -241 -9
Slide 68: Investment Solutions, Wholesale banking and SFS annual income statement
Annex – Investment Solutions, Wholesale banking and SFS Annual income statement per business line Investment Solutions, Specialized Financial Investment Solutions Wholesale Banking Wholesale Banking and Services Specialized Financial Services in millions of euros 2015 2014 pf % 2015 2014 pf % 2015 2
Slide 69: Quarterly income statement per business line
Annex – Investment Solutions, Wholesale banking and SFS Quarterly income statement per business line Investment Solutions, Specialized Financial Wholesale Banking and Investment Solutions Wholesale Banking Services Specialized Financial Services Q4-14 Q4-14 Q4-14 Q4-14 in millions of euros Q4-15 % Q
Slide 70: Quarterly income statement
Annex – Investment Solutions, Wholesale banking and SFS Quarterly income statement Investment Solutions, Wholesale Banking and Specialized Financial Services in millions of euros Q1-14 pf Q2-14 pf Q3-14 pf Q4-14 pf 2014 pf Q1-15 Q2-15 Q3-15 Q4-15 2015 Net banking income 1,693 1,793 1,677 1,729 6,892
Slide 71: Investment Solutions quarterly income statement
Annex – Investment Solutions, Wholesale banking and SFS Quarterly income statement Investment Solutions in millions of euros Q1-14 pf Q2-14 pf Q3-14 pf Q4-14 pf 2014 pf Q1-15 Q2-15 Q3-15 Q4-15 2015 Net banking income 648 711 690 773 2,822 823 846 840 1,006 3,515 Operating expenses -486 -489 -480 -54
Slide 72: Wholesale Banking quarterly income statement
Annex – Investment Solutions, Wholesale banking and SFS Quarterly income statement Wholesale Banking in millions of euros Q1-14 pf Q2-14 pf Q3-14 pf Q4-14 pf 2014 pf Q1-15 Q2-15 Q3-15 Q4-15 2015 Net banking income 732 763 680 629 2,804 806 842 665 742 3,056 Operating expenses -455 -422 -403 -435 -1,
Slide 73: Specialized Financial Services quarterly income statement
Annex – Investment Solutions, Wholesale banking and SFS Quarterly income statement Specialized Financial Services in millions of euros Q1-14 pf Q2-14 pf Q3-14 pf Q4-14 pf 2014 pf Q1-15 Q2-15 Q3-15 Q4-15 2015 Net banking income 313 320 307 327 1,266 324 335 315 334 1,308 Operating expenses -214 -206
Slide 74: Equity interests quarterly income statement
Annex - Equity interests Quarterly income statement Equity interests in millions of euros Q1-14 pf Q2-14 pf Q3-14 pf Q4-14 pf 2014 pf Q1-15 Q2-15 Q3-15 Q4-15 2015 Net banking income 213 212 209 195 830 227 196 233 190 845 Operating expenses -176 -171 -167 -180 -694 -179 -167 -172 -165 -683 Gross ope
Slide 75: Corporate center quarterly income statement
Annex - Corporate center Quarterly income statement Corporate center in millions of euros Q1-14 pf Q2-14 pf Q3-14 pf Q4-14 pf 2014 pf Q1-15 Q2-15 Q3-15 Q4-15 2015 Net banking income -37 0 -219 -125 -380 60 -49 -172 -65 -226 Operating expenses -77 -122 -73 -86 -357 -243 -70 -69 -64 -445 Gross operati
Slide 76: Non-performing loans and impairment
Annex – Risks Groupe BPCE: non-performing loans and impairment in millions of euros Dec. 31, 2015 Dec. 31, 2014 Dec. 31, 2013 Gross outstanding customer loans 629,775 623,256 590,704 O/w non-performing loans 23,098 22,919 23,330 Non-performing/gross outstanding loans 3.7% 3.7% 3.9% Impairment recogn
Slide 77: Breakdown of commitments
Annex – Risks Breakdown of commitments as at December 31, 2015 Breakdown of commitments Breakdown of commitments to Corporates per counterparty per economic sector Finance insurance 14.5% 5% Real-estate rentals 11.6% 9% Energy 10.3% 27% Real estate 8.7% 4% Holding companies & diversified 7.1% Transp
Slide 78: Geographical breakdown of commitments
Annex – Risks Geographical breakdown of commitments as at December 31, 2015 Central administrations / central banks and other Institutions sovereign exposures Corporates 2% 1% 2% 3% 5% 5% 4% 16% 7% 11% 16% 16% 41% 35% 66% 70% France Centralization of regulated savings Europe excl. France N&S America
Slide 79: Natixis cost of risk and Oil & Gas prices
Annexes – Natixis scope of consolidation Natixis’ guidance of cost of risk not affected by Oil & Gas prices’ fall The most sensitive part of our portfolio to O&G Breakdown of the €12.1bn EAD by customer prices’ drop (independent producers & services) segment for SAF1 just represents 1% of Natixis to
Slide 80: Limited exposure to Oil & Gas sensitive customers
Annexes – Natixis scope of consolidation Limited exposure on customers with high sensitivity to Oil & Gas prices Breakdown of the €12.1bn Exposure at Default (EAD) by customer segment for SAF (Structured financing)1 Trade financing is inherently at very short term (<90 days). Natixis transactions we
Slide 81: Sensitive exposures
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 scope
Slide 82: Summary of sensitive exposures
Annex – Groupe BPCE FSF report at December 31, 2015 Summary of sensitive exposures Total Total Groupe BPCE in billions of euros (excl. Natixis) Natixis Dec. 31, June 30, 2015 2015 Net exposure Other at-risk CDOs 0.6 1.2 1.8 1.8 Net exposure ns 0.0 ns 0.1 CMBS RMBS (Spain and the UK) 0.3 0.0 0.3 0.4
Slide 83: Other CDOs (unhedged)
Annex – Sensitive exposures (excl. Natixis) Other CDOs (unhedged) Gross Net exposure Changes in Other Net exposure exposure in millions of euros June 30, value changes Dec. 31, Dec. 31, 2015 H2-15 H2-15 2015 2015 Portfolio at fair value through 4 0 - 0 4 5 profit or loss Portfolio at fair value thro
Slide 84: 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, 2015 H2-15 H2-15 2015 2015 Portfolio at fair value through 1 -1 0 ns ns profit or loss Portfolio at fair value through 16 0 -10 6 6
Slide 85: RMBS
Annex – Sensitive exposures (excl. Natixis) RMBS Portfolio of RMBS Net exposure Changes in Other Net exposure Gross exposure Breakdown of residual in the UK value changes in millions of euros June 30, H2-15 H2-15 Dec. 31, Dec. 31, exposure by rating 2015 2015 2015 Portfolio at fair value through 73%
Slide 86: 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 respect,
Slide 87: February 10, 2016 Results for full-year 2015
February 10, 2016 Results for full-year 2015 87