Natixis — Groupe BPCE — Q1 2022 Earnings Presentation
69 slides from Natixis's earnings presentation, May 12, 2022
Slide 1: Results for the 1st quarter of 2022
Results for the 1st quarter of 2022 May 12, 2022
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: Strong Q1-22 performances
Strong Q1-22 performances Positive jaws effect: cost to income ratio(1) (2.4)pp at 65.3% Net income(2) +43.1% at €785m Group revenues: €6.6bn in Q1-22, +7.5% YoY, solid growth thanks to dynamic commercial performance RB&I revenues: €4.6 bn(3) in Q1-22, +7,5% YoY, driven by both a high volume of acti
Slide 4: Groupe BPCE results
1 Groupe BPCE results 2 Capital and liquidity 3 Business line results 4 Conclusion 4 RESULTS FOR THE 1ST QUARTER OF 2022
Slide 5: Q1-22 results
Q1-22 results Gross operating income: +10.4% Income before tax at €1.2bn (+18.7% YoY) €m % Change Q1-22 Q1-21 vs. Q1-21 Net banking income 6,575 6,117 7.5% Strong increase in regulatory costs (€m) Operating expenses (4,961) (4,655) 6.6% 14% 9% 10% 11% o/w operating expenses excluding SRF (4,366) (4,
Slide 6: Q1-22 results – Cost of risk/Asset quality
Q1-22 results – Cost of risk/Asset quality Cost of risk at €424m down 13.5% YoY; Continued prudent provisioning policy with additional S1/S2 provisions vs. Q1-21 COST OF RISK(1) S1/S2 S3 (in bps) 34 25 18 21 16 21 TOTAL PROVISIONS (in €bn) 20 17 12 19 18 13.8 14.0 RB&I 5 4 8 12.9 13.5 -1 53 56 9.4 9
Slide 7: Q1-22 results – Situation in Ukraine/Russia
Q1-22 results – Situation in Ukraine/Russia Very limited exposure to Ukraine and Russia Ukraine Oney (brokerage business only): 8 employees, o/w 2 relocated in France Russia Natixis CIB: 34 employees in Russia responsible for residual portfolio management Solidarity actions for Ukraine Groupe BPCE h
Slide 8: Digital & Data: Successful Digital Inside strategy
Digital & Data Successful Digital Inside strategy Our customers enjoy simple and secure access to their day-to-day transactions 24h/day and 7 days/week Q1-22 key figures 8.5m individual and professional customers equipped with Sécur'Pass to carry out their day-to-day transactions 12.6 million in a c
Slide 9: Climate change / ESG: a long-term commitment and clear strategic priorities
Climate change / ESG: a long-term commitment and clear strategic priorities Groupe BPCE's climate-change commitments: strong initial momentum End-2020 End-2021 2024 targets ALIGNMENT OF OUR PORTFOLIOS WITH A "NET ZERO" EMISSIONS TRAJECTORY 2.7°C 2.4°C 2°C ✓ Assurances main fund 1.5°C in 2030 Tempera
Slide 10: Capital and liquidity
1 Groupe BPCE results 2 Capital and liquidity 3 Business line results 4 Conclusion 10 RESULTS FOR THE 1ST QUARTER OF 2022
Slide 11: Capital and Loss-absorbing Capacity
Capital and Loss-absorbing Capacity High capital and TLAC/MREL positions, well above requirements CHANGE IN THE CET1 RATIO (in bps) +32bps 15.8% +8bps Actual levels Requirements as at March 31, 2022(1) (26)bps (13)bps 15.2%(1) March 31, 2022 (37)bps (17)bps (5)bps CET1 ratio 9.52%(2) 15.2% (ECB) CET
Slide 12: Liquidity
Liquidity 68% of 2022 funding plan already raised(2), including 75% of TLAC funding needs 2022 MLT wholesale funding plan Structure of MLT wholesale funding(3) raised in 2022(2) ʘ Target: €24bn(1) / Raised(1,2): €16.3bn or 68% Unsecured bond issues • TLAC funding 52% Target: €6.3bn (€2.5bn Tier 2 /
Slide 13: Business line results
1 Groupe BPCE results 2 Capital and liquidity 3 Business line results 4 Conclusion 13 RESULTS FOR THE 1ST QUARTER OF 2022
Slide 14: Retail Banking & Insurance
Retail Banking & Insurance Continued strong commercial performance and large positive jaws effect Loan outstandings: €663bn, +7.1% YoY On-balance sheet deposits & savings(1): o/w residential mortgages +8.1% YoY €562bn, +5.0% YoY o/w consumer loans +6.7% YoY o/w sight deposits +5.7% YoY o/w equipment
Slide 15: Retail Banking & Insurance – Banques Populaires
Retail Banking & Insurance – Banques Populaires Sharp increase in GOI: +21.3%, with positive jaws effect LOAN OUTSTANDINGS - in €bn - DEPOSITS & SAVINGS PRODUCTION +6.7% +6.4% 108 282 356 94 P&C – Individual customers 335 (13)% 264 87 In thousands of contracts Off-balance sheet D&S 81 1.5 Consumer l
Slide 16: Retail Banking & Insurance – Caisses d’Epargne
Retail Banking & Insurance – Caisses d’Epargne Income before tax +16.6% in Q1-22, with positive jaws effect LOAN OUTSTANDINGS - in €bn - DEPOSITS & SAVINGS PRODUCTION 484 +3.2% 500 175 +6.6% 162 P&C – Individual customers 341 140 (7)% In thousands of contracts 320 139 Off-balance sheet D&S 2,5 2.6 +
Slide 17: Retail Banking & Insurance – Financial Solutions & Expertise
Retail Banking & Insurance – Financial Solutions & Expertise Strong quarter for FSE businesses: strong activity growth, combined with costs under control and low level of cost of risk Business activities Underlying figures(1) Q1-22 % change €m ʘ Consumer credit: good momentum confirmed with outstand
Slide 18: Retail Banking & Insurance – Insurance
Retail Banking & Insurance – Insurance Continued strong delivery with GOI +8.8% in Q1-22 Premiums(1) In €bn Life insurance AuM(1) Share of UL products – 3M-22 YoY share of UL +2pp +2pp 4.3 4.1 (3)% 1.1 +7% 0.9 €82.3bn €3.4bn (1.0) €23.6bn 29% 82.3 UL €1.3bn 39% (4)% 81.3 € €58.7bn €2.0bn Q1-21 Q1-22
Slide 19: Retail Banking & Insurance – Payments & Oney
Retail Banking & Insurance – Payments & Oney Sustained commercial activity across all business lines PAYMENTS Underlying figures(2) ʘ Payment & Processing Solutions: number of card transactions processed Q1-22 % Change €m up 23% yoy (Q1-21 activity impacted by the lockdown). Continued growth of auth
Slide 20: Global Financial Services
Global Financial Services Continued expansion of our key franchises Net revenues: +4.6% vs. Q1-21 Underlying figures(1) Constant Fx Q1-22 % Change Sustained commercial activity and successful implementation of the strategy €m % change in a context marked by uncertainty and more volatile markets Net
Slide 21: Global Financial Services – Asset Management
Global Financial Services – Asset Management AuM at €1,188bn as of end-March 2022 Assets under management(1) (in €bn) Q1-22 AM fee rate (in bps, excluding performance fees) Controlled affiliates WCM IM ~39 1,245 ~37 1 ~34 (67) 14 1,188 94 (6) ~24 81 1 151 1 106 ~3 AuM at Net inflows on Net inflows o
Slide 22: Global Financial Services – Asset & Wealth Management
Global Financial Services – Asset & Wealth Management Robust performance AWM net revenues(1): up 5.3% in Q1-22 Underlying figures(1) Constant Fx Q1-22 % Change €m % change ʘ Higher asset-based fees driven by the diversity of our strategies which enabled our average AuM to grow by more than 7% year-o
Slide 23: Global Financial Services – Corporate & Investment Banking
Global Financial Services – Corporate & Investment Banking Solid performance Net revenues up 4.0% and 1.7 % at constant exchange rate in a context marked Net revenues(1) (in €m) by high volatility and geopolitical uncertainties 988 922 954 916 100 Global markets: 869 96 135 239 ʘ FIC-T revenues: €31
Slide 24: Conclusion
1 Groupe BPCE results 2 Capital and liquidity 3 Business line results 4 Conclusion 24 RESULTS FOR THE 1ST QUARTER OF 2022
Slide 25: Conclusion
Conclusion Groupe BPCE proved again its robustness and the efficiency of its business model in an increasingly challenging operating environment Strong set of results High solvency ratios Very solid liquidity A simplified and position unified Group Revenues Well above LCR +7.5 % requirements 153%(4)
Slide 26: Annexes
Annexes 26 RESULTS FOR THE 1ST QUARTER OF 2022
Slide 27: Annexes Content
Annexes Content Consolidated results of Groupe BPCE Retail Banking & Insurance ʘ Notes on methodology ʘ Income statement and quarterly series ʘ Reconciliation of reported data to restated data ʘ Banque Populaire and Caisse d’Epargne – quarterly series ʘ Reconciliation of reported data to pro forma d
Slide 28: Notes on methodology (1/5)
Annexes Notes on methodology (1/5) Presentation of the pro-forma quarterly results Simplification of the Group's organizational structure Creation of the Payments & Oney sub-segment Plans to simplify the Group's organizational structure were The Payments and Oney business lines have been brought tog
Slide 29: Notes on methodology (2/5)
Annexes Notes on methodology (2/5) Net banking income Cost of risk Customer net interest income, excluding regulated home savings The cost of risk is expressed in basis points and measures the level of schemes, is computed on the basis of interest earned from risk per business line as a percentage o
Slide 30: Notes on methodology (3/5)
Annexes Notes on methodology (3/5) Total loss-absorbing capacity Liquidity The amount of liabilities eligible for inclusion in the numerator Total liquidity reserves comprise the following: used to calculate the Total Loss-Absorbing Capacity (TLAC) ratio ʘ Central bank-eligible assets include: ECB-e
Slide 31: Notes on methodology (4/5)
Annexes Notes on methodology (4/5) Digital indicators The number of active customers using mobile apps or visiting The percentage of new beneficiary additions initiated by websites corresponds to the number of customers who have made at customers from their digital spaces is the number of new least
Slide 32: Notes on methodology (5/5)
Annexes Notes on methodology (5/5) Business line indicators – Oney Bank Share of responsible, sustainable and impact investments in BtoC: financing solutions distributed directly to customers. This line Asset Management: share of assets managed on behalf of third includes personal loans and revolvin
Slide 33: Reconciliation of reported data to restated data: Q1-21
Annexes Reconciliation of reported data to restated data: Q1-21 GROUPE BPCE In millions of euros Q1-21 Coface Q1-21 reported restated Net banking income 6,117 6,117 Operating expenses (4,655) (4,655) Gross operating income 1,462 1,462 Cost of risk (490) (490) Share in net income of associates 77 7 6
Slide 34: Reconciliation of data to pro forma data 2021
Annexes Reconciliation of data to pro forma data 2021 Retail banking Q1-21 Q2-21 Q3-21 Q4-21 and Insurance Net banking Operating Income Net banking Operating Income Net banking Operating Income Net banking Operating Income In millions of euros Net income Net income Net income Net income income expen
Slide 35: Q1-22 results: reconciliation to alternative performance measures
Annexes Q1-22 results: reconciliation of reported data to alternative performance measures Net Operating Gains or Income Net income banking expenses losses on before tax - Group income other share In millions of euros assets Reported Q1-22 results 6,575 (4,961) 37 1,244 785 Business lines/ Transform
Slide 36: Q1-21 results: reconciliation to alternative performance measures
Annexes Q1-21 results: reconciliation of restated data to alternative performance measures Net Operating Gains or Income Net income banking expenses losses on before tax - Group income other share assets Excl. In millions of euros Coface Restated Q1-21 results 6,117 (4,655) (1) 1,041 543 Revaluation
Slide 37: Impact of exceptional items per business line
Annexes Impact of exceptional items per business line GLOBAL RETAIL BANKING CORPORATE GROUPE FINANCIAL & INSURANCE CENTER BPCE SERVICES In millions of euros Q1-22 Q1-21pf Q1-22 Q1-21pf Q1-22 Q1-21pf Q1-22 Q1-21 Impact of exceptional items (28) (15) 10 (34) (19) (39) (36) (88) on Income before tax BA
Slide 38: Groupe BPCE: underlying cost to income ratio excluding SRF
Annexes Groupe BPCE: underlying cost to income ratio excluding SRF Net banking Operating Cost income ratio In millions of euros income expenses Q1-22 reported figures 6,575 (4,961) Impact of exceptional items 3 (74) SRF (596) Q1-22 underlying figures excluding SRF 6,573 (4,292) 65.3% Net banking Ope
Slide 39: Groupe BPCE: restated quarterly income statement per business line
Annexes Groupe BPCE: restated quarterly income statement per business line RETAIL BANKING GLOBAL FINANCIAL CORPORATE GROUPE & INSURANCE SERVICES CENTER BPCE In millions of euros Q1-22 Q1-21pf Q1-22 Q1-21pf Q1-22 Q1-21pf Q1-22 Q1-21 % Net banking income 4,627 4,304 1,782 1,690 166 124 6,575 6,117 7.5
Slide 40: Groupe BPCE: restated quarterly series
Annexes Groupe BPCE: restated quarterly series GROUPE BPCE In millions of euros Q1-21 Q2-21 Q3-21 Q4-21 2021 Q1-22 Net banking income 6,117 6,337 6,295 6,967 25,716 6,575 Operating expenses (4,655) (4,151) (4,119) (4,916) (17,840) (4,961) Gross operating income 1,462 2,187 2,176 2,051 7,876 1,614 Co
Slide 41: Consolidated balance sheet
Annexes Consolidated balance sheet ASSETS March 31, LIABILITIES March 31, Dec. 31, 2021 (in millions of euros) Dec. 31, 2021 (in millions of euros) 2022 2022 Cash and amounts due from central banks 174,338 186,317 Amounts due to central banks 10 6 Financial assets at fair value through profit or los
Slide 42: Statement of changes in shareholders' equity
Annexes Statement of changes in shareholders' equity Equity attributable to equity In millions of euros holders of the parent December 31, 2021 78,884 Distributions 0 Capital increase (cooperative shares) 458 Buyback of TSSDIs (82) Impact of acquisitions and disposals on non-controlling interests (m
Slide 43: Financial structure: changes in regulatory capital and fully-loaded ratios
Annexes Financial structure: changes in regulatory capital and fully-loaded ratios Reconciliation of shareholders’ equity to total capital Regulatory capital (in €bn) 82.7 83.1 In billions of euros March 31, 2022 Dec. 31, 2021 12.9 14.9 Tier-2 capital Equity attribuable to equity holders of the pare
Slide 44: Financial structure: MDA trigger threshold
Annexes Financial structure: MDA trigger threshold Capital Capital Pillar I Pillar II conservation G-SIB Countercyclical Pillar I Pillar II conservation G-SIB Countercyclical 2022 requirement requirement buffer buffer buffer Total 03/31/2022 requirement requirement buffer buffer buffer Total SREP CE
Slide 45: Financial structure: prudential ratios and credit ratings
Annexes Financial structure: prudential ratios and credit ratings Long-term SENIOR PREFERRED credit ratings March 31, 2022(1) Dec. 31, 2021 Dec. 31, 2020 (May 12, 2022) Total risk-weighed assets €448bn €441bn €431bn A+ negative outlook Common Equity Tier-1 capital €68.2bn €69.8bn €69.0bn Tier-1 capi
Slide 46: TLAC / MREL ratio
Annexes TLAC / MREL ratio TLAC(1,2) RATIO (as a % of risk-weighted assets) MREL(1,2) RATIO (as a % of risk-weighted assets) 30.9% 6.3% Eligible Senior Preferred debt 25.0% 24.6% 21.5% 5.0% Senior Non-Preferred 5.0% Senior Non-Preferred 4.4% 4.4% Tier 2 Tier 2 CET1 CET1 15.2% 15.2% 2022 TLAC March 31
Slide 47: Risk-Weighted Assets
Annexes Risk-Weighted Assets BREAKDOWN PER BUSINESS LINE (in €bn) BREAKDOWN PER TYPE OF RISK(1) (in €bn) 441 448 441 448 10% 9% Other 9% 9% 3% 3% Operational Risk 20% 21% Global Financial Services Market Risk Retail Banking & 88% 88% 70% 70% Insurance Credit Risk Dec. 31, 2021 March. 31, 2022 Dec. 3
Slide 48: Leverage ratio
Annexes Leverage ratio In billions of euros March 31, 2022(1) Dec. 31, 2021 Tier-1 capital 68.2 69.8 Balance sheet total(2) 1,524.6 1,516.0 Prudential restatements (129.2) (130.5) Prudential balance sheet total(2) 1,395.4 1,385.5 Adjustments related to exposure to derivates (3) (12.1) (17.4) Adjustm
Slide 49: Financial conglomerate
Annexes Financial conglomerate Financial conglomerate FINANCIAL CONGLOMERATE RATIO CRR/CRD IV(2) viewpoint Restatements viewpoint +3.8 Banking CR (1) (CRR/CRD IV) Regulatory capital + Total capital Insurance CR(1) (Solvency 2) (in €bn) 83.1 83,1 86,9 86,9 86.9 RESTATEMENTS APPLIED - 1 2 3 +4.9 69.3
Slide 50: Liquidity reserves and short-term funding
Annexes Liquidity reserves and short-term funding TOTAL LIQUIDITY RESERVES OF GROUPE BPCE(1) SHORT-TERM FUNDING AND MLT DEBT MATURING (in €bn) IN THE SHORT TERM (in €bn) Coverage ratio of short-term funding + MLT debt 329 maturing in the short-term by liquidity reserves(2) 324 273% 318 247% 234% 181
Slide 51: Retail Banking & Insurance: quarterly income statement
Annexes Retail Banking & Insurance: quarterly income statement BANQUE POPULAIRE CAISSE D'EPARGNE FINANCIAL SOLUTIONS RETAIL BANKING & INSURANCE PAYMENTS & ONEY OTHER NETWORK NETWORK NETWORK & EXPERTISE INSURANCE In millions of euros Q1-22 Q1-21pf % Q1-22 Q1-21pf % Q1-22 Q1-21pf % Q1-22 Q1-21pf % Q1-
Slide 52: Retail Banking & Insurance: quarterly series
Annexes Retail Banking & Insurance: quarterly series RETAIL BANKING & INSURANCE Q1-21pf Q2-21pf Q3-21pf Q4-21pf 2021pf Q1-22 In millions of euros Net banking income 4,304 4,425 4,399 4,397 17,526 4,627 Operating expenses (2,757) (2,684) (2,664) (2,920) (11,024) (2,856) Gross operating income 1,547 1
Slide 53: 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 Q1-21pf Q2-21pf Q3-21pf Q4-21pf 2021pf Q1-22 In millions of euros Net banking income 1,669 1,737 1,736 1,725 6,867 1,838 Operating expenses (1,078) (1,056) (1,080) (1,141) (4,
Slide 54: Retail Banking & Insurance
Annexes Retail Banking & Insurance DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) Change YoY Change YoY 873.9 836.4 +4.5% +7.1% 663.2 265.7 619.3 251.4 +5.7% Sight deposits 396.2 +5.8% Passbook savings accounts 341.7 207.2 219.2 (0.6)% Regulated home savings plans +8.3% Term accounts Residen
Slide 55: Retail Banking & Insurance: Banque Populaire network
Annexes Retail Banking & Insurance: Banque Populaire network DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) Change YoY Change YoY 335.2 356.5 +6.4% +6.7% 136.6 128.4 281.8 264.0 +6.4% Sight deposits 70.8 +8.5% Passbook savings accounts 65.2 156.3 144.2 (0.1)% Regulated home savings plans 22.
Slide 56: Retail Banking & Insurance: Caisse d’Epargne network
Annexes Retail Banking & Insurance: Caisse d’Epargne network DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) Change YoY Change YoY 499.6 +3.2% +6.6% 483.9 119.7 114.2 341.3 Sight deposits 320.3 +4.9% 147.3 +4.6% Passbook savings accounts 140.9 (0.6)% Regulated home savings plans 195.0 210.3 +
Slide 57: Retail Banking & Insurance: FSE quarterly series
Annexes Retail Banking & Insurance: FSE quarterly series FINANCIAL SOLUTIONS & EXPERTISE Q1-21pf Q2-21pf Q3-21pf Q4-21pf 2021pf Q1-22 In millions of euros Net banking income 300 307 308 306 1,222 336 Operating expenses (160) (157) (155) (172) (644) (166) Gross operating income 141 149 153 135 578 17
Slide 58: Retail Banking & Insurance: Insurance quarterly series
Annexes Retail Banking & Insurance: Insurance quarterly series INSURANCE In millions of euros Q1-21pf Q2-21pf Q3-21pf Q4-21pf 2021pf Q1-22 Net banking income 242 253 231 245 972 258 Operating expenses (136) (121) (117) (129) (503) (145) Gross operating income 106 132 114 116 468 113 Income before ta
Slide 59: Retail Banking & Insurance: Payments & Oney quarterly series
Annexes Retail Banking & Insurance: Payments & Oney quarterly series PAYMENTS & ONEY In millions of euros Q1-21pf Q2-21pf Q3-21pf Q4-21pf 2021pf Q1-22 Net banking income 219 218 229 233 899 239 Operating expenses (172) (169) (170) (184) (696) (190) Gross operating income 47 49 58 48 202 49 Income be
Slide 60: Retail Banking & Insurance: Other network quarterly series
Annexes Retail Banking & Insurance: Other network quarterly series OTHER NETWORK Q1-21pf Q2-21pf Q3-21pf Q4-21pf 2021pf Q1-22 In millions of euros Net banking income 78 85 80 84 327 84 Operating expenses (54) (44) (63) (51) (212) (50) Gross operating income 24 41 16 33 115 34 Cost of risk (18) (24)
Slide 61: Global Financial Services: quarterly income statement per business line
Annexes Global Financial Services: quarterly income statement per business line CORPORATE & ASSET AND WEALTH GLOBAL FINANCIAL INVESTMENT MANAGEMENT SERVICES BANKING In millions of euros % Q1-22 Q1-21pf Q1-22 Q1-21pf Q1-22 Q1-21pf Net banking income 812 771 971 918 1,782 1,690 5.5% Operating expenses
Slide 62: Global Financial Services: quarterly series
Annexes Global Financial Services: quarterly series GLOBAL FINANCIAL SERVICES In millions of euros Q1-21pf Q2-21pf Q3-21pf Q4-21pf 2021pf Q1-22 Net banking income 1,690 1,758 1,749 2,339 7,535 1,782 Operating expenses (1,188) (1,218) (1,225) (1,673) (5,304) (1,275) Gross operating income 502 540 524
Slide 63: Asset & Wealth Management: quarterly series
Annexes Asset & Wealth Management: quarterly series ASSET & WEALTH MANAGEMENT In millions of euros Q1-21pf Q2-21pf Q3-21pf Q4-21pf 2021pf Q1-22 Net banking income 771 849 894 1,397 3,911 812 Operating expenses (593) (618) (644) (958) (2,813) (644) Gross operating income 178 231 250 439 1,098 167 Cos
Slide 64: Corporate & Investment Banking: quarterly series
Annexes Corporate & Investment Banking: quarterly series CORPORATE & INVESTMENT BANKING In millions of euros Q1-21pf Q2-21pf Q3-21pf Q4-21pf 2021pf Q1-22 Net banking income 918 908 856 942 3,624 971 Operating expenses (595) (599) (581) (715) (2,491) (631) Gross operating income 324 309 274 227 1,134
Slide 65: Corporate center: restated quarterly series
Annexes Corporate center: restated quarterly series CORPORATE CENTER Q1-21pf Q2-21pf Q3-21pf Q4-21pf 2021pf Q1-22 In millions of euros Net banking income 124 154 146 230 655 166 Operating expenses (710) (249) (230) (323) (1,512) (830) Gross operating income (586) (95) (84) (93) (858) (664) Cost of r
Slide 66: Performing & non-performing loans and impairment
Annexes Performing & non-performing loans and impairment In billions of euros March 31, 2022 Dec.31, 2021 Dec.31, 2020 Gross outstanding loans to customers and credit 907.5 889.0 850.4 institutions O/w S1 outstandings 803.4 788.2 764.6 O/w S2 outstandings 82.5 79.2 64.3 O/w S3 outstandings 21.6 21.6
Slide 67: Cost of risk by business lines
Annexes Cost of risk by business lines COST OF RISK(1) (in bps) S1/S2 S3 40 25 22 19 20 22 22 18 20 21 12 9 BP network 3 2 2 26 19 17 8 11 15 12 10 8 10 15 7 CE network 8 7 -2 34 25 21 18 16 21 20 17 12 RB&I 19 18 8 5 -1 4 53 56 47 11 26 54 17 14 8 CIB 6 9 29 11 2 -18 32 26 17 18 16 21 21 14 Groupe
Slide 68: Breakdown of gross exposure at March 31, 2022
Annexes Breakdown of gross exposure at March 31, 2022(1) Diversified portfolio Breakdown per geographical region Breakdown of Group gross exposure Financial institutions/ Central administrations/ Corporate customers per counterparty Local governments Central banks and other sovereign exposures 4% 1%
Slide 69: groupebpce.com
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