Natixis — Groupe BPCE — FY2025 Earnings Presentation
75 slides from Natixis's earnings presentation, Feb 3, 2026
Slide 1: Q4 & 2025 Results
FEBRUARY 3, 2026 Q4 & 2025 RESULTS 1 ʘ 23 juin 2025
Slide 2: Disclaimer
DISCLAIMER This presentation may contain forward-looking statements and comments These estimates are based on the judgment of the individuals preparing this relating to the objectives and strategy of Groupe BPCE. By their very nature, financial information and the information available at the date o
Slide 3: Record net revenues and net income in 2025
RECORD NET REVENUES AND NET INCOME IN 2025 2025 NET INCOME(1): €4.1BN, +15% YOY BUSINESS PERFORMANCE FINANCIAL PERFORMANCE Net revenues at €6.7bn, +11% in Q4-25 YoY, €25.7bn, +10% in 2025 YoY RB&I Dynamic commercial activity achieved by BP & CE Underlying C/I ratio at 64.8%, -3.0pp in Q4-25 YoY, 65.
Slide 4: 2025: A year of strategic execution - Ongoing growth dynamic in France
2025: A YEAR OF STRATEGIC EXECUTION FOR GROUPE BPCE Ongoing growth dynamic in France TRANSFORMATIVE PROJECTS AND PARTNERSHIPS TO SUPPORT OUR COMPETITIVENESS Transformative projects New clients 820,000 in 2025 • Ongoing project for a joint technological platform for the Banques Populaires and Caisses
Slide 5: 2025: A year of strategic execution - European sovereignty
2025: A YEAR OF STRATEGIC EXECUTION FOR GROUPE BPCE Supporting European economic and financial sovereignty MAJOR PROJECTS TO SUPPORT THE EXPANSION OF OUR EUROPEAN FOOTPRINT Additional net revenues ~€350m(1) in 2025 from BPCE ES in 2025 Retail banking • Project to acquire novobanco, which will make P
Slide 6: 2025: A year of strategic execution - Strengthening global positions
2025: A YEAR OF STRATEGIC EXECUTION FOR GROUPE BPCE Strengthening global positions NEW INITIATIVES TO REINFORCE Growth of revenues +14% OUR GLOBAL LEADING POSITIONS from the APAC and US in 2025 YoY platforms • Natixis CIB has obtained a banking license in Japan >€1.3Tn as at in July 2025 to pursue i
Slide 7: Groupe BPCE is delivering its impact ambitions
GROUPE BPCE IS DELIVERING ITS IMPACT AMBITIONS PURSUING OUR COMMITMENTS ACCELERATING OUR SUPPORT FOR TRANSITIONS • Strengthening the energy renovation Acting in favor of Nature solutions developed by the BP and CE, €1.2bn in financing aimed at supporting the home in 2025 • st Publication of our 1 Cl
Slide 8: Summary
Summary 01 Groupe BPCE results 02 Capital and liquidity 03 Business line results 04 Conclusion
Slide 9: Groupe BPCE Results
01 GROUPE BPCE RESULTS
Slide 10: 2025 Results: Reported net banking income
2025 RESULTS: REPORTED NET BANKING INCOME RETAIL BANKING & INSURANCE in €m GLOBAL FINANCIAL SERVICES in €m +13% +33% +12% +7% +14% +9% +1% +5% +10% +3% +7% At constant change 17,502 15,397 8,357 13,692 7,943 12,152 4,436 4,817 1,512 3,507 3,540 1,138 959 936 858 873 BP & CE networks FSE Insurance Di
Slide 11: 2025 Results: Operational efficiency
2025 RESULTS: OPERATIONAL EFFICIENCY REPORTED OPERATING EXPENSES IN €M +6% Very positive jaws effect thanks to strong revenue growth: +10% 301 55 17,290 228 3 15 11 1 16,384 292 2024 BP & CE FSE Insurance Digital & Other AWM CIB Corporate 2025 networks Payments network center RB&I: Improved underlyi
Slide 12: Q4-25 & 2025 Results: Reported cost of risk/asset quality
Q4-25 & 2025 RESULTS: REPORTED COST OF RISK/ASSET QUALITY COST OF RISK Total Stage 1/2 Stage 3 Groupe BPCE 651 669 97 627 554 596 683 694 596 587 (31) (37) (25) 559 (97) In €m 4 30 30 (1) (2) (1) 31 31 28 (4) 29 27 27 In bps(1) 25 26 1 35 RB&I 30 28 28 33 1 (3) (2) (2) 30 28 28 31 in bps(1) 25 55 28
Slide 13: Q4-25 & 2025 Results: Reported Group P&L
Q4-25 & 2025 RESULTS: REPORTED GROUP P&L RECORD REPORTED NET INCOME €4.1BN IN 2025 (+15% YOY) DOUBLE DIGIT REVENUES GROWTH YTD % % €m Q4-25 Q4-24 2025 2024 Change Change Net revenues stand at €26bn in 2025 (+10% YoY) driven by all Net banking income 6,693 6,046 11% 25,722 23,317 10% business lines.
Slide 14: Capital and Liquidity
02 CAPITAL AND LIQUIDITY
Slide 15: Capital and loss-absorbing capacity
CAPITAL AND LOSS-ABSORBING CAPACITY HIGH LEVEL OF CAPITAL Change in the CET 1 ratio (in bps) Organic capital creation: Actual level +22bps Requirements as at Jan. 2, 2026 +24bps +1bp Dec. 31, 2025 16.5%(1) 16.4% (2)bps (15)bps CET1 ratio 16.5%(1) 10.59%(2) (ECB) Total capital ratio 19.2%(1) 14.65%(2
Slide 16: Liquidity: 32% of 2026 funding plan already completed
LIQUIDITY: 32% OF 2026 FUNDING PLAN ALREADY COMPLETED(1,3) 2026 MLT WHOLESALE FUNDING PLAN COMPLETION Structure of MLT wholesale funding raised in 2026(2) *Asset-Backed Securities TARGETS FUNDING (excl. ABS*) €6.9bn (32%) €22.0bn Unsecured bonds 60% 22% TLAC €5.0bn (45%) Covered bonds (Tier2 + Senio
Slide 17: Business Line Results
BUSINESS LINE: RESULTS — (i
Slide 18: Retail Banking & Insurance: Banques Populaires
RETAIL BANKING & INSURANCE Banques Populaires LOAN OUTSTANDINGS in €bn PRODUCTION #1 BANK FOR CORPORATES(4) FOR 16 CONSECUTIVE YEARS 2024 2025 Residential mortgages €11.1bn €17.2bn +55% stable Average rate 3.7% 3.2% (0.5)pp 81,600 new professional and corporate clients 302 303 Consumers loans(1) €4.
Slide 19: Retail Banking & Insurance: Caisses d'Epargne
RETAIL BANKING & INSURANCE Caisses d’Epargne LOAN OUTSTANDINGS in €bn PRODUCTION "BEST SAVINGS ADVISOR“ AWARD(4) 2024 2025 Residential mortgages €18.5bn €24.4bn +1% +32% Average rate 3.8% 3.2% (0.6)pp 367,600 new retail clients 376 382 Consumers loans(1) €9.3bn €9.2bn (1)% Percentage of our individu
Slide 20: Retail Banking & Insurance: Financial Solutions & Expertise
RETAIL BANKING & INSURANCE Financial Solutions & Expertise % % BREAKDOWN OF REVENUES PER BUSINESS LINE in 2025 €m(1) Q4-25 Change 2025 Change Consumer credit 7% Net banking income 406 40% 1,512 33% Retail Banking services 24% 31% Retail securities services Operating expenses (228) 43% (828) 38% 21%
Slide 21: Retail Banking & Insurance: Insurance
RETAIL BANKING & INSURANCE Insurance(1) LIFE INSURANCE AuM(2) in €bn PREMIUMS(2,3) in €bn 5TH LARGEST INSURER IN FRANCE(5) 2.9 124.3 20.7 +8% 6.4 19.2 +29% HIGH GROSS AND NET INFLOWS IN LIFE INSURANCE 2.4 112.6 +10% +11% Life insurance AuM(2) stand at €124bn up +10% YTD 5.4 4.9 +27% driven by €9bn n
Slide 22: Retail Banking & Insurance: Digital & Payments
RETAIL BANKING & INSURANCE Digital & Payments STRONG FINANCIAL PERFORMANCE DUE TO MARGIN RECOVERY WHILE INVESTING IN INNOVATION AND SOVEREIGNTY INITIATIVES % % €m(1) Q4-25 2025 Change Change PAYMENTS Net banking income 238 5% 936 7% Payment Solutions: robust activity (payment transactions +3% in 202
Slide 23: Retail Banking & Insurance: Business Line P&L
RETAIL BANKING & INSURANCE Business Line P&L DOUBLE DIGIT GROWTH IN NET INTEREST INCOME % % STRONG DYNAMICS ON LOANS PRODUCTION €m(1) Q4-25 2025 Change Change AND SAVINGS COLLECTION Net banking income 4,729 16% 17,502 14% Quarterly residential mortgage production: +35% in Q4-25 YoY Operating expense
Slide 24: Global Financial Services: Corporate & Investment Banking
GLOBAL FINANCIAL SERVICES Corporate & Investment Banking NET REVENUES(1) in €m RECORD NET REVENUES IN 2025, 1,249 4,817 AT €4.8BN UP 10% YOY AT CONSTANT FX 1,247 27 1,160 1,161 4,436 58 1,087 6 141 22 3 3 644 4 187 627 133 182 GLOBAL MARKETS 168 436 1,785 Net revenues: €2.4bn in 2025 (+15% YoY) incl
Slide 25: Global Financial Services: Asset & Wealth Management
GLOBAL FINANCIAL SERVICES Asset & Wealth Management ASSETS UNDER MANAGEMENT(1) in €bn SECOND BEST-SELLING ACTIVE FUND HOUSE COMPANY IN EUROPE IN 2025(4) 79 AM flows(1): net inflows reached €40bn (including €17bn in Q4-25) mainly on fixed income products driven by Loomis Sayles and DNCA and on balanc
Slide 26: Global Financial Services: Business Line P&L
GLOBAL FINANCIAL SERVICES Business Line P&L CONTINUED GROWTH OF GLOBAL BUSINESSES Constant Constant THANKS TO COMMERCIAL EXPANSION (1) % % €m Q4-25 Fx % 2025 Fx % Change Change change change Net banking income 2,141 4% 7% 8,357 5% 7% CIB o/w CIB 1,161 7% 9% 4,817 9% 10% Revenues reached €4.8bn in 20
Slide 27: Conclusion
04 CONCLUSION
Slide 28: Conclusion
CONCLUSION BUSINESS PERFORMANCE FINANCIAL PERFORMANCE STRONG BALANCE SHEET RB&I Record net revenues: €25.7bn, +10% in 2025 YoY Average monthly LCRs Deposits & savings: RB&I: €17.5bn, +14% in 2025 YoY in Q4-25: 138% +€14bn in 2025 YoY GFS: €8.4bn, +7% YoY at constant FX >€20bn Good control of operati
Slide 29: Annexes
FEBRUARY 3, 2026 Q4 & 12M Results ANNEXES
Slide 30: 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 31: Notes on methodology (1/4)
NOTES ON METHODOLOGY (1/4) Net banking income Presentation of the pro -forma quarterly results • Customer net interest income, excluding regulated home savings schemes, is • The 2024 quarterly series are presented pro forma with changes computed on the basis of interest earned from transactions with
Slide 32: Notes on methodology (2/4)
NOTES ON METHODOLOGY (2/4) Total loss-absorbing capacity Loan outstandings and deposits & savings The Total Loss-Absorbing Capacity (TLAC) requirement is determined by • Restatements regarding transitions from book outstandings article 92a of CRR. to outstandings under management are as follows: The
Slide 33: Notes on methodology (3/4)
NOTES ON METHODOLOGY (3/4) B u s i n e s s l i n e i n d i c a t o r s – B P & C E n e t w o r ks Liquidity Average rate (%) for residential mortgages: the average client rate for residential Total liquidity reserves comprise the following: mortgages corresponds to the weighted average of actuarial
Slide 34: Notes on methodology (4/4)
NOTES ON METHODOLOGY (4/4) Business line indicators – Insurance The percentage of individual clients insured corresponds to the proportion of principal banking clients of legal age with an auto, 2-wheeler, home, civil liability/private life, personal accident, comprehensive personal accident, legal
Slide 35: Reconciliation of 2024 reported data to pro forma data
RECONCILIATION OF 2024 REPORTED DATA TO PRO FORMA DATA FINANCIAL SOLUTIONS & EXPERTISE Q1-24 Q2-24 Q3-24 Q4-24 Net banking Operating Income Income Net Net banking Operating Income Income Net Net banking Operating Income Income Net Net banking Operating Income Income Net €m income expenses before tax
Slide 36: Reconciliation of 2024 reported data to pro forma data
RECONCILIATION OF 2024 REPORTED DATA TO PRO FORMA DATA CORPORATE & INVESTMENT BANKING Q1-24 Q2-24 Q3-24 Q4-24 Net banking Operating Income Income Net Net banking Operating Income Income Net Net banking Operating Income Income Net Net banking Operating Income Income Net €m income expenses before tax
Slide 37: Q4-25 & Q4-24 reconciliation to alternative performance measures
Q4-25 & Q4-24 RESULTS: RECONCILIATION OF REPORTED DATA TO ALTERNATIVE PERFORMANCE MEASURES Share in net Gains or Net income Net banking Operating Cost of Income €m income of losses on - Group income expenses risk before tax associates other assets share Reported Q4-25 results 6,693 (4,471) (669) 16
Slide 38: 2025 & 2024 reconciliation to alternative performance measures
2025 & 2024 RESULTS: RECONCILIATION OF REPORTED DATA TO ALTERNATIVE PERFORMANCE MEASURES Share in net Gains or Net income Net banking Operating Cost of Income €m income of losses on - Group income expenses risk before tax associates other assets share Reported 2025 results 25,722 (17,290) (2,465) 73
Slide 39: Q4-25 & Q4-24 underlying cost to income ratio
Q4-25 & Q4-24 RESULTS: UNDERLYING COST TO INCOME RATIO Underlying Net banking Operating €m cost income income expenses ratio Q4-25 reported figures 6,693 (4,471) 66.8% Impact of exceptional items (15) (125) Q4-25 underlying figures 6,708 (4,346) 64.8% Underlying Net banking Operating €m cost income
Slide 40: 2025 & 2024 underlying cost to income ratio
2025 & 2024 RESULTS: UNDERLYING COST TO INCOME RATIO Underlying Net banking Operating €m cost income income expenses ratio 2025 reported figures 25,722 (17,290) 67.2% Impact of exceptional items (41) (384) 2025 underlying figures 25,764 (16,906) 65.6% Underlying Net banking Operating €m cost income
Slide 41: 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 Q4-25 Q4-24pf Q4-25 Q4-24pf Q4-25 Q4-24pf Q4-25 Q4-24 % Net banking income 4,729 4,064 2,141 2,055 (177) (73) 6,693 6,046 11% Operating expenses (2,694) (2,4
Slide 42: 2025 income statement per business line
GROUPE BPCE: 2025 INCOME STATEMENT PER BUSINESS LINE RETAIL BANKING GLOBAL FINANCIAL CORPORATE GROUPE & INSURANCE SERVICES CENTER BPCE €m 2025 2024pf 2025 2024pf 2025 2024pf 2025 2024 % Net banking income 17,502 15,397 8,357 7,947 (137) (27) 25,722 23,317 10% Operating expenses (10,451) (9,902) (5,9
Slide 43: Groupe BPCE: Quarterly series
GROUPE BPCE: QUARTERLY SERIES GROUPE BPCE €m Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Net banking income 5,753 5,626 5,892 6,046 6,305 6,315 6,410 6,693 Operating expenses (4,151) (4,008) (4,041) (4,184) (4,359) (4,304) (4,157) (4,471) Gross operating 1,602 1,618 1,851 1,862 1,946 2,011 2,253
Slide 44: Consolidated balance sheet
GROUPE BPCE: CONSOLIDATED BALANCE SHEET ASSETS LIABILITIES Dec. 31, 2025 Dec. 31, 2024 Dec. 31, 2025 Dec. 31, 2024 €m €m Cash and amounts due from central banks 133,938 133,186 Amounts due to central banks 12 1 Financial assets at fair value through profit or loss 239,646 230,521 Financial liabiliti
Slide 45: Goodwill
GROUPE BPCE: GOODWILL IFRS5 Dec. 31, 2024 Acquisitions Disposals Conversion Others Dec. 31, 2025 reclassifications €m Retail Banking & Insurance entities 879 46 (23) 902 Asset & Wealth Management entities 3,280 27 1 (135) (191) (3) 2,979 Corporate & Investment Banking 151 (14) 3 141 entities Total 4
Slide 46: Statement of changes in shareholders' equity
GROUPE BPCE: STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY Equity attributable to €m shareholders’ equity December 31, 2024 87,137 Distributions (728) Change in capital (cooperative shares) 64 Impact of acquisitions and disposals on non-controlling interests (minority interests) (41) Income 4,061 Cha
Slide 47: Changes in regulatory capital and prudential ratios
FINANCIAL STRUCTURE: CHANGES IN REGULATORY CAPITAL AND PRUDENTIAL RATIOS REGULATORY CAPITAL (in €bn) €m Dec. 31, 2025 (1) Dec. 31, 2024 88.7 86.1 12.4 12.2 Equity attribuable to shareholders’ equity 89.3 87.1 Tier-2 capital 29.7 29.6 Cancelation of hybrid securities in equity - - Cooperative shares
Slide 48: Distance to MDA
FINANCIAL STRUCTURE: DISTANCE TO MDA Capital Capital Countercycli Pillar I Pillar II conservation G-SIB Countercyclical Pillar I Pillar II conservation G-SIB cal buffer Jan. 2, 2025 requirement requirement buffer buffer buffer (CCyB) Total Jan. 2, 2026 requirement requirement buffer buffer (CCyB) To
Slide 49: Prudential ratios and credit ratings
FINANCIAL STRUCTURE: PRUDENTIAL RATIOS AND CREDIT RATINGS Long-term senior preferred credit ratings Dec. 31, 2025(1) Dec. 31, 2024 Dec. 31, 2023 (February 3, 2025) Total risk-weighed assets €463bn €457bn €458bn A+ stable outlook Common Equity Tier-1 capital €76.3bn €73.8bn €71.2bn A1 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) 32.8% 6.1% 26.7% 27.5% Eligible Senior Preferred debt 22.4% 7.3% Senior Non-Preferred 7.3% Senior Non-Preferred 2.9% 2.9% Tier 2 Tier 2 CET1 CET1 16.5% 16.5% 2025 TLAC Dec. 31, 2025 20
Slide 51: Risk-weighted assets
RISK-WEIGHTED ASSETS(1) BREAKDOWN PER BUSINESS LINE (in €bn) BREAKDOWN PER TYPE OF RISK(2) (in €bn) 457 463 457 463 7% Other 9% 11% Operational Risk 8% 3% 4% 21% 21% Global Financial Services Market Risk Retail Banking & 88% 85% Credit Risk Insurance 71% 72% Dec. 31, 2024 Dec. 31, 2025 Dec. 31, 2024
Slide 52: Leverage ratio
LEVERAGE RATIO €bn Dec. 31, 2025(1) Dec. 31, 2024 Tier-1 capital 76.3 73.8 Balance sheet total(2) 1,645.7 1,584.6 Prudential restatements (136,7) (123.3) Prudential balance sheet total(2) 1,509.0 1,461.3 (3) Adjustments related to exposure to derivates (16.0) (19.0) Adjustments related to security f
Slide 53: Financial conglomerate
FINANCIAL CONGLOMERATE Financial conglomerate FINANCIAL CONGLOMERATE RATIO CRR/CRD IV(2) Restatements viewpoint viewpoint +4.4 Banking CR (1) (CRR/CRD IV) Regulatory capital + Total capital 93.1 Insurance CR(1) (Solvency 2) (in €bn) 88.7 RESTATEMENTS APPLIED - 1 2 3 +5 77 Shift from a Cancellation o
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) 302 304 303 305 294 Cash placed with 127 124 114 123 128 central banks 171 173 161 162 155 LCR securities 33 33 34 36 34 MLT 67 75 78 80 7
Slide 55: Retail Banking & Insurance: Quarterly income statement
RETAIL BANKING & INSURANCE: QUARTERLY INCOME STATEMENT BANQUE CAISSE FINANCIAL DIGITAL & OTHER RETAIL BANKING & POPULAIRE D'EPARGNE SOLUTIONS & INSURANCE PAYMENTS NETWORK INSURANCE NETWORK NETWORK EXPERTISE €m Q4-25 Q4-24 Q4-25 Q4-24 Q4-25 Q4-24pf Q4-25 Q4-24pf Q4-25 Q4-24 Q4-25 Q4-24 Q4-25 Q4-24pf
Slide 56: Retail Banking & Insurance: 2025 income statement
RETAIL BANKING & INSURANCE: 2025 INCOME STATEMENT BANQUE CAISSE FINANCIAL DIGITAL & OTHER RETAIL BANKING & POPULAIRE D'EPARGNE SOLUTIONS & INSURANCE PAYMENTS NETWORK INSURANCE NETWORK NETWORK EXPERTISE €m 2025 2024 2025 2024 2025 2024pf 2025 2024pf 2025 2024 2025 2024 2025 2024pf % Net banking incom
Slide 57: Retail Banking & Insurance: Quarterly series
RETAIL BANKING & INSURANCE: QUARTERLY SERIES RETAIL BANKING & INSURANCE €m Q1-24pf Q2-24pf Q3-24pf Q4-24pf Q1-25 Q2-25 Q3-25 Q4-25 Net banking income 3,763 3,701 3,869 4,064 4,140 4,195 4,439 4,729 Operating expenses (2,547) (2,456) (2,403) (2,497) (2,642) (2,596) (2,519) (2,694) Gross operating inc
Slide 58: Banque Populaire and Caisse d'Epargne networks quarterly series
RETAIL BANKING & INSURANCE: BANQUE POPULAIRE AND CAISSE D’EPARGNE NETWORKS QUARTERLY SERIES BANQUE POPULAIRE NETWORK €m Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Net banking income 1,489 1,489 1,506 1,614 1,622 1,622 1,731 1,825 Operating expenses (1,043) (1,025) (999) (980) (1,080) (1,060) (1
Slide 59: Retail Banking & Insurance: Deposits & savings, loan outstandings
RETAIL BANKING & INSURANCE DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) Change YoY Change YoY +3% +1% 236 0% Sight deposits 236 4% Passbook savings accounts 1% Residential (7)% Regulated home savings 395 245 392 mortages 237 plans (2) 33% Deposits linked to group 4% Consumer loans (1) 64 i
Slide 60: Banque Populaire network
RETAIL BANKING & INSURANCE: BANQUE POPULAIRE NETWORK DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) Change YoY Change YoY +3% +0% (1)% Sight deposits 123 122 3% Passbook savings accounts (3)% Regulated home savings plans 0% Residential 77 79 163 163 mortages (1) 28% Deposits linked to group
Slide 61: Caisse d'Epargne network
RETAIL BANKING & INSURANCE: CAISSE D’EPARGNE NETWORK DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) Change YoY Change YoY +4% +1% 101 104 (3)% Sight deposits 164 4% Passbook savings accounts 158 (8)% Regulated home savings plans 225 229 47 2% Residential 51 34% Deposits linked to group issua
Slide 62: FSE quarterly series
RETAIL BANKING & INSURANCE: FSE QUARTERLY SERIES FINANCIAL SOLUTIONS & EXPERTISE M€ Q1-24pf Q2-24pf Q3-24pf Q4-24pf Q1-25 Q2-25 Q3-25 Q4-25 Net banking income 287 280 280 291 327 388 390 406 Operating expenses (153) (145) (142) (160) (177) (211) (212) (228) Gross operating income 134 135 139 131 150
Slide 63: Insurance quarterly series
RETAIL BANKING & INSURANCE: INSURANCE QUARTERLY SERIES INSURANCE €m Q1-24 pf Q2-24 pf Q3-24 pf Q4-24 pf Q1-25 Q2-25 Q3-25 Q4-25 Net banking income 228 157 258 215 247 234 238 241 Operating expenses (42) (25) (40) (46) (38) (36) (35) (47) Gross operating income 146 93 177 169 166 157 160 194 Income b
Slide 64: Digital & Payments quarterly series
RETAIL BANKING & INSURANCE: DIGITAL & PAYMENTS QUARTERLY SERIES DIGITAL & PAYMENTS €m Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Net banking income 215 214 218 227 229 232 237 238 Operating expenses (160) (159) (154) (173) (167) (166) (160) (168) Gross operating 55 55 64 54 62 66 77 71 income C
Slide 65: Other network quarterly series
RETAIL BANKING & INSURANCE: OTHER NETWORK QUARTERLY SERIES OTHER NETWORK €m Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Net banking income 91 93 90 101 101 99 102 101 Operating expenses (55) (55) (51) (53) (59) (54) (51) (60) Gross operating 37 38 39 48 43 44 51 41 income Cost of risk (16) (17)
Slide 66: 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 Q4-25 Q4-24pf Q4-25 Q4-24 Q4-25 Q4-24pf % Net banking income 1,161 1,087 980 968 2,141 2,055 4% Operating expenses (842) (738) (742) (763) (
Slide 67: 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 2025 2024pf 2025 2024 2025 2024pf % Net banking income 4,817 4,436 3,540 3,507 8,357 7,943 5% Operating expenses (3,186) (2,886) (2,764) (
Slide 68: Global Financial Services: Quarterly series
GLOBAL FINANCIAL SERVICES: QUARTERLY SERIES GLOBAL FINANCIAL SERVICES €m Q1-24pf Q2-24pf Q3-24pf Q4-24pf Q1-25 Q2-25 Q3-25 Q4-25 Net banking income 1,931 1,982 1,975 2,055 2,103 2,109 2,004 2 141 Operating expenses (1,367) (1,365) (1,414) (1,501) (1,473) (1,459) (1,435) (1,584) Gross operating incom
Slide 69: Corporate & Investment Banking: Quarterly series
CORPORATE & INVESTMENT BANKING: QUARTERLY SERIES CORPORATE & INVESTMENT BANKING €m Q1-24pf Q2-24pf Q3-24pf Q4-24pf Q1-25 Q2-25 Q3-25 Q4-25 Net banking income 1,101 1,132 1,117 1,087 1,247 1,249 1,160 1,161 Operating expenses (705) (693) (750) (738) (790) (786) (768) (842) Gross operating income 396
Slide 70: Asset & Wealth Management: Quarterly series
ASSET & WEALTH MANAGEMENT: QUARTERLY SERIES ASSET & WEALTH MANAGEMENT €m Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Net banking income 830 850 858 968 856 860 844 980 Operating expenses (662) (673) (664) (763) (682) (673) (667) (742) Gross operating 168 178 194 205 173 187 178 238 income Cost o
Slide 71: Corporate Center: Quarterly series
CORPORATE CENTER: QUARTERLY SERIES CORPORATE CENTER €m Q1-24 pf Q2-24 pf Q3-24 pf Q4-24 pf Q1-25 Q2-25 Q3-25 Q4-25 Net banking income 58 (57) 48 (73) 62 11 (33) (177) Operating expenses (237) (187) (224) (186) (244) (249) (203) (193) Gross operating income (178) (244) (176) (259) (182) (238) (236) (
Slide 72: Performing & non-performing loans and impairment
PERFORMING & NON-PERFORMING LOANS AND IMPAIRMENT €bn Dec 31, 2025 Dec. 31, 2024 Gross outstanding loans to customers and credit institutions 1,017.5 983.2 O/w S1 outstandings 868.0 823.9 O/w S2 outstandings 122.3 134.9 O/w S3 outstandings 27.4 24.3 Non-performing loans/gross outstanding loans 2.7% 2
Slide 73: Cost of risk by business line
COST OF RISK BY BUSINESS LINE Cost of risk by business line (in pbs) Total Stage 1/2 Stage 3 4 38 (1) (2) (1) (1) BP network 35 28 29 31 39 31 29 31 32 in bps(1) (1) 1 27 (4) (3) (3) CE network 22 24 19 21 24 23 23 23 23 in bps(1) 1 1 (2) (2) (3) 31 35 RB&I 30 30 28 28 28 28 33 in bps(1) 25 28 (2) 6
Slide 74: Breakdown of gross exposures at December 31, 2025
BREAKDOWN OF GROSS EXPOSURES AT DECEMBER 31, 2025(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 31% 5% 2%
Slide 75: groupeBPCE.com
groupeBPCE.com groupeBPCE.com