Natixis — Groupe BPCE — FY2011 Earnings Presentation
84 slides from Natixis's earnings presentation, Feb 23, 2012
Slide 1: Results for the full year and 4th quarter of 2011
February 23, 2012 Results for the full year and 4th quarter of 2011
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: Greater funds provided to finance the French economy and enhanced capital adequacy
Groupe BPCE: greater funds provided to finance the French economy and enhanced capital adequacy Solid operational performances: net banking income, + 1.4% at €23.1bn; gross operating income, + 3.1% at €7.5bn 2011 net income attributable to equity holders of the parent at €2.6bn (- 27% vs. 2010), imp
Slide 4: A major player in financing the French economy and its customers
1. Groupe BPCE, a major player in financing the French economy and its customers 6.5% annual growth in loan outstandings Loans to individual customers: > 8% A group actively Loans to corporate customers: > 5% committed Loans to independent micro-enterprises / SMEs: > 7% to financing the French econo
Slide 5: Refocused on its core business lines, ahead of its synergy targets
1. Groupe BPCE, refocused on its core business lines, ahead of its synergy targets Natixis: a business model radically transformed Corporate Investment Banking, a revised business model: continued refocusing on customer-related activities and faster development of the “originate to distribute” model
Slide 6: Socially committed and responsible
1. Groupe BPCE, socially committed and responsible Customers who are cooperative shareholders, loyal partners and committed within the group 8.1 million cooperative shareholders, individual and corporate customers are present in the retail networks The group’s One of the first promoters of public-in
Slide 7: Contents
Contents 1. Results of Groupe BPCE 2. Results of the core business lines 3. Capital adequacy and liquidity Adapting the group to its new environment February 23, 2012 Results for the full year and 4th quarter of 2011 7
Slide 8: Results of Groupe BPCE
1. Results of Groupe BPCE 2011 net income (excluding non-operational items) of €3.4bn, marginally down compared with 2010 2011 / Q4-11 / in millions of euros 20111 Q4-11 2010 Q4-10 Net banking income 23,073 + 1.4% 5,839 + 0.6% Operating expenses - 15,615 + 0.6% - 4,077 - 2.1% Gross operating income
Slide 9: Significant non-operational items in 2011
1. Significant non-operational items in 2011 Impact on net income in millions of euros 2011 Q4-11 Impairment of Greek government bonds - 595 - 36 Sale of equity interests - 71 - 71 (Volksbank International AG and Crédit Immobilier Hôtelier) Adjustment of the value of the equity interest - 116 - 116
Slide 10: Results of the core business lines
1. Results of the core business lines Performance levels maintained at their 2010 levels despite the substantially weaker market environment Core Core business 2011 / business Q4-11 / in millions of euros lines1 2010 lines1 Q4-10 2011 Q4-11 Net banking income 20,918 + 0.3% 5,262 - 2.9% Operating exp
Slide 11: Cost of risk for the group
1. Cost of risk for the group Cost of risk in bp1 42 39 31 32 34 27 23 18 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 Cost of risk (in €m) 769 70 83 Greek government 511 612 459 439 390 451 394 bond impairment 2452 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 Impairment of Greek government bo
Slide 12: Limited exposure to sovereign debts of peripheral European countries
1. Limited exposure of Groupe BPCE to the sovereign debts of peripheral European countries Net direct exposures of credit institutions in banking portfolio1 (in €m) - 26 % 4,612 -9% 3,432 2,822 2,560 - 52 % 31/12/2011 31/12/2010 1,197 - 49% - 54% - 41 % 576 312 158 211 97 70 41 2 Greece Ireland Port
Slide 13: Cost of risk of the core business lines remains stable
1. Cost of risk of the core business lines remains stable Cost of risk en bp1 32 31 28 31 25 23 27 27 Commercial Banking and Insurance 52 39 33 26 23 27 22 10 CIB, IS, and SFS 35 32 25 27 26 28 30 21 Core business lines Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 1 Cost of risk excluding Greek g
Slide 14: GAPC workout portfolio management
1. GAPC (Workout portfolio management): continued implementation of the roadmap with no significant impact on net income: assets worth €4.9bn sold in 2011 Risk-weighted assets (in €bn) Sharp decline in the impact of the segregated assets since the group’s creation > Assets worth €4.9bn disposed of i
Slide 15: Contents
Contents 1. Results of Groupe BPCE 2. Results of the core business lines 3. Capital adequacy and liquidity Adapting the group to its new environment February 23, 2012 Results for the full year and 4th quarter of 2011 15
Slide 16: Predominance of retail banking activities in France
2. Predominance of retail banking activities in France Business contribution to group1 Business contribution to group1 net banking income in 2011 (as a %) income before tax in 2011 (as a %) Retail banking: 72% Retail banking: 74% 67% 69% 5% Core business lines 5% of Natixis: 25% 8% 9% 12% 16% 8% 1%
Slide 17: Commercial Banking and Insurance
2. Commercial Banking and Insurance Slight rise in revenues and good net income performance for the year as a whole 2011/ Q4-11/ in millions of euros 2011 Q4-11 2010 Q4-10 Net banking income 15,123 + 1.0% 3,854 - 1.4% Banque Populaire banks 6,329 + 1.4% 1,598 - 1.1% excl. changes in provisions for h
Slide 18: Commercial Banking and Insurance: dynamic year
2. Commercial Banking and Insurance Extremely dynamic year for commercial banking driven by a larger customer base Net banking income Contribution to net banking income in 2011 Banque Populaire banks: + 0.8%1 Caisses d’Epargne: + 0.3%1 (excl. impact of lower Livret A commissions: net banking income
Slide 19: Banque Populaire banks
2. Commercial Banking and Insurance Banque Populaire banks Savings deposits Growth in 1 year (as a %) A confirmed growth in customer base 12,0% 10.4% > Active individual customers: + 1.2 % in 2011 9.4% vs. + 0.8% in 2010 10,0% 8.8% > Active individual customers using banking services: 8,0% 8.7% + 2.
Slide 20: Caisses d'Epargne
2. Commercial Banking and Insurance Caisses d’Epargne Savings deposits Growth in 1 year (as a %) A new dynamic trend in customer base 12,0% > Active individual customers: + 3.2% in 2011 vs. 1.2% in 2010 10,0% 8.9% > Principal active customers using banking services: + 7.4% in 8.2% 8.5% 2011 vs. 5.2%
Slide 21: Real estate Financing: refocus on core activities
2. Commercial Banking and Insurance Real estate Financing: refocus on core business activities in synergy with the retail networks Real estate Financing Business activity indicators Principal entity contributing to this core business line: Crédit Foncier de France (CFF) New 2012 – 2016 strategic pla
Slide 22: Insurance
2. Commercial Banking and Insurance Insurance: buoyant sales activity in non-life and provident insurance Insurance1 Business activity indicators Life insurance (CNP Assurances) Life insurance: decline in revenues owing to the adverse economic environment > Strong dynamics for new unit-linked fund i
Slide 23: International
2. Commercial Banking and Insurance International International Business activity indicators Principal entity contributing to this core business line: BPCE International et Outre-mer Savings deposits (in €bn) Development of retail banking activities in the international market > Acquisition of 75% o
Slide 24: Other networks
2. Commercial Banking and Insurance Other networks Other networks Business activity indicators Principal entity contributing to this core business line : Banque Palatine Savings deposits1 (in €bn) Customer base 13.2 > Dynamic development of customer portfolio, 12.2 mainly medium-sized and mid-cap co
Slide 25: Natixis core business lines: CIB, Invest. Solutions, SFS
2. Natixis core business lines: CIB, Invest. Solutions, SFS 2011 / Q4-11 / in millions of euros 2011 Q4-11 2010 Q4-10 Net banking income 5,795 - 1.6% 1,408 - 6.6% CIB 2,760 - 8.8% 588 - 19.7% Investment Solutions 1,884 + 5.3% 529 + 6.0% SFS 1,151 + 7.2% 292 + 5.0% Operating expenses - 3,831 + 1.8% -
Slide 26: CIB: limited decline in 2011 revenues
2. Natixis core business lines: CIB, Invest. Solutions, SFS CIB: limited decline in 2011 revenues thanks to a good 1st half year Financing activities Revenues1 (€m) 1,742 1,599 Commercial Banking 523 400 > 24% decline in 2011 revenues vs. 2010, reflecting greater business selectivity, negative econo
Slide 27: Invest. Solutions: positive net inflows in 2011
2. Natixis core business lines: CIB, Invest. Solutions, SFS Invest. Solutions: positive net inflows in 2011, revenues up vs. 2010 Asset Management Assets under management (€bn) Net inflows of €3.7bn for full-year 2011 + 3.7 + 6.6 + 5.1 > Expertise in USD: further inflows, $3.0bn in Q4-11 from the US
Slide 28: SFS: good performance in Q4-11 and 2011
2. Natixis core business lines: CIB, Invest. Solutions, SFS SFS: good performance in Q4-11 and in 2011 as a whole Specialized Financing1 Business activity indicators Q4-11 Q4-10 % change Further growth in Consumer Finance, Leasing Consumer Finance and Factoring activities Loan outstandings in €bn 11
Slide 29: Equity interests
2. Equity interests 2011 / Q4-11 / in millions of euros 2011 Q4-11 2010 Q4-10 Net banking income 1,720 - 0.1% 430 - 17.0% Operating expenses - 1,460 + 0.5% - 404 - 2.2% Gross operating income 260 - 3.3% 26 - 75.2% Cost of risk - 34 = - 11 - 31.3% Share of income of associates - 112 ns - 113 ns Incom
Slide 30: Equity interests: Coface and Nexity
2. Equity interests Coface Coface revenues (in €m) Revenues: + 8.2%1, stable in Q4-11 vs. 413 421 431 447 414 Q4-10 > Credit insurance: revenues + 3%1 in Q4-11 vs. Q4-10 330 342 349 347 3 72 Claims ratio2: 55.1% in 2011, marginally down vs. 2010 84 79 82 67 75 Income before tax: €98m in 2011, + 14%
Slide 31: Contents
Contents 1. Results of Groupe BPCE 2. Results of the core business lines 3. Capital adequacy and liquidity Adapting the group to its new environment February 23, 2012 Results for the full year and 4th quarter of 2011 31
Slide 32: Capital adequacy and liquidity: adapting to the new environment
3. Capital adequacy and liquidity: major progress in adapting the group to its new environment Intensification of the Changes in the regulatory strategy to reduce Result and financial environment the risk profile 110 basis-point improvement in Capital adequacy requirements the Core Tier-1 ratio2 in
Slide 33: Strong growth in capital adequacy: Core Tier-1 ratio up 350 bp
3. Strong growth in the group’s capital adequacy: Core Tier-1 ratio up 350 bp since June 2009 9 .1% 8 .6 % 8 .0 % 7 .4 % 6 .9 % 6 .4 % 6 .7 % 5 .6 % 6 .2 % 3 4 .6 3 5 .4 3 1.7 3 1.9 2 8 .5 3 .0 2 6 .3 3 .0 3 .0 1 2 30/ 06/ 09 3 1/ 12 / 0 9 3 0 / 0 6 / 10 3 1/ 12 / 2 0 10 3 0 / 0 6 / 2 0 11 3 1/ 12 /
Slide 34: Risk-weighted assets
3. Risk-weighted assets Change in risk-weighted assets1 (in €bn) Breakdown of risk-weighted assets 60% 414 June 2009 29% 411 406 399 390 7% 4% 67% 30/06/09 31/12/09 31/12/10 30/09/11 31/12/11 December 2011 26% 4% 3% Commercial Banking and Insurance GAPC Natixis (excl. GAPC) Other 1 Risk-weighted ass
Slide 35: Basel 2.5 Core Tier-1 ratio of 9.1% at Dec. 31, 2011
3. Basel 2.5 Core Tier-1 ratio of 9.1%1 at Dec. 31, 2011 Capital shortfall cut from €3.7bn2 to €0.7bn in one quarter Capital shortfall cut by €3bn in Q4-11 EBA4 target at June 30, 2012 to meet EBA4 target at June 30, 2012 Additional capital shortfall of €0.7bn + 20 bp + 45 bp - 25 bp - 15 bp 9.1%1 >
Slide 36: Improving liquidity by reducing wholesale funding needs
3. Improving the group’s liquidity situation by reducing wholesale funding needs Progress report for Natixis and the rest of the group Natixis (CIB and GAPC) Commercial Banking and Insurance Liquidity requirements Liquidity requirements > €50bn reduction in liquidity requirements between early > Con
Slide 37: Liquidity and short-term refinancing
3. Liquidity and short-term refinancing Group’s participation in the ECB’s 3-year refinancing operation of December 21, 2011 > Objective: secure MLT funding in 2012 > It does not replace the 2012 MLT funding plan that was already 39% completed on February 15, 2012 Short-term refinancing outstandings
Slide 38: Medium/long-term funding: 39% of 2012 program completed
3. Medium/long-term funding: 39% of the 2012 program completed at Feb. 15, 2012 Structure of the 2011 2011 MLT funding plan MLT funding plan €33.8bn raised with an average maturity of 5.2 years, representing 114% of the program €30.1bn raised in 2011 through 2 types of bond issues Senior unsecured b
Slide 39: Annexes
February 23, 2012 Results for the full year and 4th quarter of 2011 Annexes
Slide 40: Annexes
Annexes Groupe BPCE CIB, Investment Solutions and SFS > Organizational structure of Groupe BPCE > Income statement per business line > Income statements per business line > Consolidated balance sheet Equity interests > Goodwill > Income statement Financial structure Workout portfolio management and
Slide 41: Organizational structure of Groupe BPCE
Annex - Groupe BPCE Organizational structure of Groupe BPCE February 23, 2012 Results for the full year and 4th quarter of 2011 41
Slide 42: Annual income statement per business line
Annex - Groupe BPCE Annual income statement per business line CIB, Investment Commercial Workout portfolio Solutions & Banking & Total core businesses Equity interests management & Groupe BPCE Specialized Insurance Other businesses Financial Services In millions of euros 2011 2010 2011 2010 2011 201
Slide 43: Quarterly income statement per business line
Annex - Groupe BPCE Quarterly income statement per business line CIB, Investment Commercial Workout portfolio Solutions & Banking & Total core businesses Equity interests management & Groupe BPCE Specialized Insurance Other businesses Financial Services In millions of euros Q4-11 Q4-10 Q4-11 Q4-10 Q
Slide 44: Quarterly income statement
Annex - Groupe BPCE Quarterly income statement Groupe BPCE In millions of euros Q1-10 Q2-10 Q3-10 Q4-10 2010 Q1-11 Q2-11 Q3-11 Q4-11 2011 Net banking income 5 973 5 973 5 461 5 952 23 359 5 922 6 116 5 480 5 839 23 357 Operating expenses -3 939 -3 999 -3 815 -4 304 -16 057 -4 006 -4 096 -3 702 -4 07
Slide 45: Consolidated balance sheet
Annex - Groupe BPCE Consolidated balance sheet Assets in €m 31/12/11 31/12/10 Liabilities in €m 31/12/11 31/12/10 Cash and amounts due from central banks 15 995 24 143 Amounts due to central banks 15 490 Financial assets at fair value through profit or loss 225 477 167 523 Financial liabilities at f
Slide 46: Goodwill
Annex - Groupe BPCE Goodwill Dec. 31, Other in millions of euros Disposals Impairment Conversion Dec. 31, 2011 2010 movements Commercial Banking 959 - 46 -1 25 937 and Insurance entities Natixis 2,633 -5 - 43 36 47 2,668 Equity interests 1,568 -693 25 900 TOTAL 5,160 -698 - 89 35 97 4,505 Goodwill a
Slide 47: Statement of changes in shareholders' equity
Annex - Financial structure Statement of changes in shareholders' equity in millions of euros Equity attributable to equity holders of the parent December 31, 2010 47,385 Distribution - 567 Capital increase (cooperative shares) 508 Income 2,685 Remuneration of deeply subordinated notes -288 Changes
Slide 48: Reconciliation of shareholders' equity to Tier-1 capital
Annex - Financial structure Reconciliation of shareholders' equity to Tier-1 capital in billions of euros - 4.6 + 2.7 - 5.5 + 0.2 - 5,5 + 5.7 - 2.5 45.1 37.9 35.4 41.1 Equity Cancellation of Minority Goodwill Other Total Deductions Total Super- Total attributable to super- interests2 & intangibles r
Slide 49: Prudential ratios and credit ratings
Annex - Financial structure Prudential ratios1 and credit ratings Dec. 31, Dec. 31, June 30, 2011 20112 20103 Credit risk €335bn €356bn €355bn Market risk €18bn €14bn €13bn Operational risk €37bn €31bn €32bn Total risk-weighted assets €390bn €401bn €399bn Tier-1 capital €41.1bn €41.3bn €38.8bn Core
Slide 50: Commercial Banking and Insurance: annual income statement
Annex - Commercial Banking and Insurance Annual income statement * Insurance, International & Other Banques Populaires Caisses d'Epargne Real Estate Commercial Banking & Insurance networks In millions of euros 2011 2010 % 2011 2010 % 2011 2010 % 2011 2010 % 2011 2010 % Net banking income 6 329 6 239
Slide 51: Commercial Banking and Insurance: quarterly income statement
Annex - Commercial Banking and Insurance Quarterly income statement Insurance, International & Other Banques Populaires Caisses d'Epargne Real Estate * Commercial Banking & Insurance networks In millions of euros Q4-11 Q4-10 % Q4-11 Q4-10 % Q4-11 Q4-10 % Q4-11 Q4-10 % Q4-11 Q4-10 % Net banking incom
Slide 52: Commercial Banking and Insurance: quarterly income statement
Annex - Commercial Banking and Insurance Quarterly income statement Commercial Banking & Insurance In millions of euros Q1-10 Q2-10 Q3-10 Q4-10 2010 Q1-11 Q2-11 Q3-11 Q4-11 2011 Net banking income 3 685 3 729 3 643 3 910 14 967 3 771 3 842 3 656 3 854 15 123 Operating expenses -2 390 -2 446 -2 323 -
Slide 53: Banque Populaire banks and Caisses d'Epargne
Annex - Commercial Banking and Insurance Banque Populaire banks and Caisses d’Epargne Banques Populaires In millions of euros Q1-10 Q2-10 Q3-10 Q4-10 2010 Q1-11 Q2-11 Q3-11 Q4-11 2011 Net banking income 1 574 1 513 1 537 1 615 6 239 1 566 1 619 1 546 1 598 6 329 Operating expenses -979 -999 -974 -98
Slide 54: Banque Populaire network: savings deposits
Annex - Commercial Banking and Insurance Banque Populaire network: savings deposits (in €bn) % change 192.5 2011 / 2010 183.6 175.8 Demand deposits + 8.5% Demand deposits 47.3 43.6 Passbook savings + 10.4% 40.1 accounts Passbook savings accounts Regulated home Regulated home 31.1 + 2.3% 28.2 savings
Slide 55: Banque Populaire network: loan outstandings
Annex - Commercial Banking and Insurance Banque Populaire network: loan outstandings (in €bn) 154.8 146.1 6.9 139.8 7.1 7.2 % change 2011 / 2010 78.5 73.1 Consumer loans - 2.2% C onsumer loans 68.1 Real estate loans Real estate + 7.2% Short-term credit facilities loans Equipment loans Short-term Oth
Slide 56: Caisse d'Epargne network: savings deposits
Annex - Commercial Banking and Insurance Caisse d'Epargne network: savings deposits (in €bn) 327.1 335.2 345.2 33.0 33.3 % change 29.9 2011/ 2010 Demand deposits + 0.8% 116.1 122.2 Passbook savings 115.4 + 5.2% Demand deposits accounts Regulated home Passbook savings + 2.9% savings plans accounts 37
Slide 57: Caisse d'Epargne network: loan outstandings
Annex - Commercial Banking and Insurance Caisse d'Epargne network: loan outstandings (in €bn) 171.0 155.0 10.5 10.4 137.3 9.7 % change 2011 /2010 101.2 C onsumer loans Consumer loans + 1.4% Real estate loans 90.3 Real estate Short-term credit facilities 80.0 + 12.0% loans Equipment loans Other Short
Slide 58: Real estate Financing; Insurance, International and Other networks
Annex - Commercial Banking and Insurance Real estate Financing Insurance, International and Other networks Real Estate In millions of euros Q1-10 Q2-10 Q3-10 Q4-10 2010 Q1-11 Q2-11 Q3-11 Q4-11 2011 Net banking income 234 246 226 245 951 227 235 232 188 882 Operating expenses -138 -144 -137 -167 -586
Slide 59: CIB, Investment Solutions and SFS: annual income statement
Annex - CIB, Investment Solutions and SFS Annual income statement per business line CIB, Investment Solutions & CIB Investment Solutions SFS Specialized Financial Services In millions of euros 2011 2010 % 2011 2010 % 2011 2010 % 2011 2010 % Net banking income 2 760 3 027 -8,8% 1 884 1 789 5,3% 1 151
Slide 60: CIB, Investment Solutions and SFS: quarterly income statement
Annex - CIB, Investment Solutions and SFS Quarterly income statement per business line CIB, Investment Solutions & CIB Investment Solutions SFS Specialized Financial Services In millions of euros Q4-11 Q4-10 % Q4-11 Q4-10 % Q4-11 Q4-10 % Q4-11 Q4-10 % Net banking income 587 731 -19,7% 529 499 6,0% 2
Slide 61: CIB, Investment Solutions and SFS: quarterly income statement
Annex - CIB, Investment Solutions and SFS Quarterly income statement CIB, Investment Solutions & Specialized Financial Services In millions of euros Q1-10 Q2-10 Q3-10 Q4-10 2010 Q1-11 Q2-11 Q3-11 Q4-11 2011 Net banking income 1 476 1 544 1 362 1 508 5 890 1 564 1 584 1 239 1 408 5 795 Operating expe
Slide 62: CIB quarterly income statement
Annex - CIB, Investment Solutions and SFS Quarterly income statement per business line CIB In millions of euros Q1-10 Q2-10 Q3-10 Q4-10 2010 Q1-11 Q2-11 Q3-11 Q4-11 2011 Net banking income 793 828 675 731 3 027 821 810 542 587 2 760 Operating expenses -418 -408 -387 -442 -1 655 -436 -441 -391 -407 -
Slide 63: Investment Solutions quarterly income statement
Annex - CIB, Investment Solutions and SFS Quarterly income statement per business line Investment Solutions In millions of euros Q1-10 Q2-10 Q3-10 Q4-10 2010 Q1-11 Q2-11 Q3-11 Q4-11 2011 Net banking income 425 436 429 499 1 789 472 473 410 529 1 884 Operating expenses -307 -309 -318 -354 -1 288 -330
Slide 64: SFS quarterly income statement
Annex - CIB, Investment Solutions and SFS Quarterly income statement per business line SFS In millions of euros Q1-10 Q2-10 Q3-10 Q4-10 2010 Q1-11 Q2-11 Q3-11 Q4-11 2011 Net banking income 258 280 258 278 1 074 271 301 287 292 1 151 Operating expenses -202 -204 -203 -210 -819 -204 -202 -192 -200 -79
Slide 65: Equity interests: annual income statement
Annex - Equity interests Annual income statement Nexity Coface & Natixis Private Equity a Other equity interests Equity interests In millions of euros 2011 2010 % 2011 2010 % 2011 2010 % 2011 2010 % Net banking income 875 865 1,2% 816 822 -0,7% 29 35 -17,1% 1 720 1 722 -0,1% Operating expenses -678
Slide 66: Equity interests: quarterly income statement
Annex - Equity interests Quarterly income statement Equity interests In millions of euros Q1-10 Q2-10 Q3-10 Q4-10 2010 Q1-11 Q2-11 Q3-11 Q4-11 2011 Net banking income 386 417 401 518 1 722 406 469 415 430 1 720 Operating expenses -349 -348 -343 -413 -1 453 -359 -355 -342 -404 -1 460 Gross operating
Slide 67: Workout portfolio management and Other businesses: annual income statement
Annex - Workout portfolio management and “Other businesses” - Annual income statement Workout portfolio Workout portfolio Other businesses management & Other management businesses In millions of euros 2011 2010 2011 2010 2011 2010 Net banking income 374 334 345 446 719 780 Operating expenses -137 -1
Slide 68: Workout portfolio management and Other businesses: quarterly income statement
Annex - Workout portfolio management and “Other businesses” - Quarterly income statement Workout portfolio Workout portfolio Other businesses management & Other management businesses In millions of euros Q4-11 Q4-10 Q4-11 Q4-10 Q4-11 Q4-10 Net banking income 125 149 22 -133 147 16 Operating expenses
Slide 69: Workout portfolio management and Other businesses: quarterly income statement
Annex - Workout portfolio management and “Other businesses” - Quarterly income statement Workout portfolio management & Other businesses In millions of euros Q1-10 Q2-10 Q3-10 Q4-10 2010 Q1-11 Q2-11 Q3-11 Q4-11 2011 Net banking income 426 283 55 16 780 181 221 170 147 719 Operating expenses -273 -28
Slide 70: Workout portfolio management: quarterly income statement
Annex - Workout portfolio management and “Other businesses” - Quarterly income statement Workout portfolio management In millions of euros T1-10 T2-10 T3-10 T4-10 2010 T1-11 T2-11 T3-11 T4-11 2011 Net banking income 212 -28 1 149 334 169 137 -57 125 374 Operating expenses -42 -47 -40 -54 -183 -35 -3
Slide 71: Other businesses: quarterly income statement
Annex - Workout portfolio management and “Other businesses” - Quarterly income statement Other businesses In millions of euros T1-10 T2-10 T3-10 T4-10 2010 T1-11 T2-11 T3-11 T4-11 2011 Net banking income 214 311 54 -133 446 12 84 227 22 345 Operating expenses -231 -237 -201 -288 -957 -215 -249 -52 -
Slide 72: GAPC: Detailed exposure at December 31, 2011
Annex - Workout portfolio management and “Other businesses” - GAPC: Detailed exposure at December 31, 2011 Portfolios covered by the financial guarantee and Total Return Swap Asset class RWA before Notional Net value Discount rate guarantee (in (type of portfolio) (in €bn) (in €bn) €bn) ABS CDOs 1.3
Slide 73: Groupe BPCE: non-performing loans and impairment
Annex - Risks Groupe BPCE: non-performing loans and impairment Dec. 31, June 30, Dec. 31, in millions of euros 2011 2011 2010 Gross outstanding customer loans 583,062 572,050 573,807 O/W non-performing loans 20,255 19,537 20,003 Non-performing/gross outstanding loans 3.5% 3.4% 3.5% Impairment recogn
Slide 74: Networks: non-performing loans and impairment
Annex - Risks Networks: non-performing loans and impairment Banque Populaire banks (aggregated) Dec. 31, June 30, in millions of euros Dec. 31, 2010 2011 2011 Gross outstanding customer loans 160,048 157,413 151,518 O/W non-performing loans 7,738 7,710 7,531 Non-performing/gross outstanding loans 4.
Slide 75: Breakdown of commitments at December 31, 2011
Annex - Risks Breakdown of commitments at December 31, 2011 Breakdown of commitments Breakdown of commitments to Companies per counterparty and Professionals per industrial sector Civil service 0.1% Services to local authorities 1.3% 30% Technology 1.6% Communications 2.3% International trade - raw
Slide 76: Geographical breakdown of commitments
Annex - Risks Geographical breakdown of commitments at December 31, 2011 Banks Sovereigns Corporates 91% 61% 65% 24% 15% 15% 11% 3% 3% 3%5% 1% 1% 2% France France France Europe excl. France Europe excl. France North & South America North & South America North & South America Europe excl. France Asia
Slide 77: Exposure to European sovereign risks
Annex - Groupe BPCE Exposure to European sovereign risks1 (€m) at Dec. 31, 2011, on the basis of the model drawn up by the EBA2 under the December 2011 stress tests Indirect Direct Net direct positions, excluding sovereign Net direct exposures, excluding derivatives, at sovereign derivatives, at Dec
Slide 78: Sensitive exposures (excluding Natixis)
Annex - Sensitive exposures (excluding Natixis) Recommendations of the Financial Stability Forum Foreword With the exception of the summary provided on the next page, the following information is based on the scope of consolidation of Groupe BPCE (excluding Natixis) For specific details about the se
Slide 79: Summary of sensitive exposures
Annex - Groupe BPCE FSF report at Dec. 31, 2011 Summary of sensitive exposures Groupe BPCE Total Total in millions of euros Natixis (excl. Natixis) Dec. 31, 11 Sept. 30, 11 Net exposure ABS CDOs (Asset-backed Securities) 0 377 377 423 US residential market Net exposure Other at-risk CDOs 1,270 2,878
Slide 80: Other CDOs (unhedged)
Annex - Sensitive exposures (excluding Natixis) Other CDOs (unhedged) Net Changes in Other Net Gross in millions of euros exposure value changes exposure exposure Sept. 30, 11 Q4-11 Q4-11 Dec. 31, 11 Dec. 31, 11 Portfolio at faire value through profit or 95 -1 -- 45 51 118 loss Portfolio at fair val
Slide 81: CMBS
Annex - Sensitive exposures (excluding Natixis) CMBS Net Changes in Other Net Gross in millions of euros exposure value changes exposure exposure Sept. 30, 11 Q4-11 Q4-11 Dec. 31, 11 Dec. 31, 11 Portfolio at faire value through profit or 2 0 0 2 2 loss Portfolio at fair value through shareholders' e
Slide 82: RMBS
Annex - Sensitive exposures (excluding Natixis) RMBS Net Net Breakdown of residual exposure Portfolio of RMBS in the UK Changes Other Gross exposure exposure by rating in value changes exposure in millions of euros Sept. 30, Dec. 31, Q4-11 Q4-11 Dec. 31, 11 11 11 Portfolio at faire value through pro
Slide 83: Protection acquired
Annex - Sensitive exposures (excluding Natixis) Protection acquired Credit enhancers (monoline) Protection acquired from credit enhancers by Crédit Foncier de France are included for the appraisal of hedged instruments of up to €345m Protection acquired from other counterparties Gross nominal amount
Slide 84: February 23, 2012 Results for the full year and 4 th quarter of 2011
February 23, 2012 Results for the full year and 4th quarter of 2011 84