Natixis — Groupe BPCE — H1 2024 Earnings Presentation
72 slides from Natixis's earnings presentation, Aug 1, 2024
Slide 1: Results for the 2nd quarter and 1st half of 2024
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Slide 2: Disclaimer
DISCLAIMER This presentation may contain forward-looking statements and comments The financial information presented in this document relating to the fiscal relating to the objectives and strategy of Groupe BPCE. By their very nature, period ended June 30, 2024 has been drawn up in compliance with I
Slide 3: Strong increase in reported net income in H1-24; dynamic in all our franchises
STRONG INCREASE IN REPORTED NET INCOME IN H1-24; DYNAMIC IN ALL OUR FRANCHISES FINANCIAL STRENGTH AND LONG-TERM CREDIT RATINGS AT THE HIGHEST EUROPEAN LEVEL DEVELOPMENTS PERFORMANCE RB&I 1st rebound in quarterly NBI in Q2-24 YoY Cost of risk at 22bps in H1-24 Good commercial activities achieved by B
Slide 4: Groupe BPCE is moving fastly to deploy its strategic plan Vision 2030
GROUPE BPCE IS MOVING FASTLY TO DEPLOY ITS STRATEGIC PLAN VISION 2030 Equipment lease Payments processor Process on track(1) to acquire Société Générale Partnership underway to create the n°1 payments Equipment Finance (SGEF) to become the leading processor in France, with a target of top 3 position
Slide 5: A group mobilized to decarbonize the economy and committed to make positive impact accessible to all
A GROUP MOBILIZED TO DECARBONIZE THE ECONOMY AND COMMITTED TO MAKE POSITIVE IMPACT ACCESSIBLE TO ALL Making impact accessible NZBA Ambitions to all BP & CE clients Decarbonization commitments for 5 additional sectors: Aluminum, Aviation, Commercial Real Estate, Residential Real Estate, Agriculture N
Slide 6: Summary
Summary 01 Groupe BPCE results 02 Capital and liquidity 03 Business line results 04 Conclusion
Slide 7: Groupe BPCE results
01 GROUPE BPCE RESULTS
Slide 8: Results: reported net banking income
RESULTS: REPORTED NET BANKING INCOME RETAIL BANKING & INSURANCE in €m GLOBAL FINANCIAL SERVICES in €m (2)% (1)% +6% 7,543 7,464 6,013 +4% stable +5% 3,916 5,899 3,683 +5% +8% 621 647 429 2,130 2,235 306 306 408 1,554 1,681 BP & CE networks FSE Insurance Digital & RB&I CIB AWM GFS Payments RB&I(1) GF
Slide 9: Results: reported operating expenses
RESULTS: REPORTED OPERATING EXPENSES OPERATING EXPENSES in €m -3% 8,386 51 7 7 55 87 8,159 (13) (5) (415) H1-23 BP & CE FSE Insurance Digital & Other AWM CIB Corporate H1-24 networks Payments network center RB&I: • Slight increase in expenses in the 2 networks, +1% YoY • Good costs control in Insura
Slide 10: Results: reported cost of risk/asset quality
RESULTS: REPORTED COST OF RISK/ASSET QUALITY COST OF RISK TOTAL PROVISIONS(2) (in €bn) INCREASE IN COST Stage 3 OF RISK REFLECTING GROUPE BPCE'S POSITION IN THE Stage 1/Stage 2 14.2 14.3 14.6 In bps(1) 13.8 ECONOMY AND A PRUDENT 26 13.5 16 21 12.9 PROVISIONING POLICY 14 16 27 24 23 20 25 RB&I (10) (
Slide 11: Results: reported Group P&L
RESULTS: REPORTED GROUP P&L % % €m Q2-24 Q2-23 H1-24 H1-23 Change Change Net revenues at €11.4bn in H1-24, Net banking income 5,626 5,467 3% 11,379 11,281 1% up +1% YoY. Q2-24 NBI stands at €5.6bn (+3% YoY) Operating expenses (4,008) (3,799) 5% (8,159) (8,386) (3)% Net interest margin at €3.5bn in H
Slide 12: Capital and liquidity
02 CAPITAL AND LIQUIDITY
Slide 13: Capital and loss-absorbing capacity
CAPITAL AND LOSS-ABSORBING CAPACITY Actual level HIGH LEVEL IN SOLVENCY Requirements June 30, 2024 as at June 30, 2024(1) Organic capital creation: Change in the CET 1 ratio (in bps) 21bps 10.46%(2) CET1 ratio 15.6% (ECB) +18bps +3bps Total capital 14.49%(2) 18.4% 15.6% 15.6%(1) ratio (ECB) (16)bps
Slide 14: Liquidity: 80% of 2024 funding plan already completed
LIQUIDITY: 80% OF 2024 FUNDING PLAN ALREADY COMPLETED(1,3) 2024 MLT WHOLESALE FUNDING PLAN Structure of MLT wholesale funding raised in 2024(2) *Asset Back Securities TARGETS FUNDING (excl. ABS*) €22.5bn (80%) 41% Unsecured bonds €28.3bn Covered bonds TLAC €7.8bn (92%) 46% (TIER 2 + SENIOR NON PREF)
Slide 15: Business line results
03 BUSINESS LINE RESULTS
Slide 16: Retail Banking & Insurance: Banques Populaires
RETAIL BANKING & INSURANCE Banques Populaires LOAN OUTSTANDINGS in €bn PRODUCTION DYNAMIC BUSINESS ACTIVITY, STRONG H1-23 H1-24 CONFIDENCE FROM OUR CLIENTS AND Residential mortgages CONTINUED SUPPORT FOR THE €9bn €4bn (51)% PROFESSIONAL AND CORPORATE -1% +1.1pp Average rate 2.9% 4.0% DEVELOPMENT 303
Slide 17: Retail Banking & Insurance: Caisses d'Epargne
RETAIL BANKING & INSURANCE Caisses d’Epargne LOAN OUTSTANDINGS in €bn PRODUCTION SOLID DYNAMIC BOTH IN CREDIT AND H1-23 H1-24 DEPOSIT ACTIVITIES; CONTINUED SUPPORT Residential mortgages €14bn €8bn OF INDIVIDUAL CLIENTS (43)% +2% Average rate 3.0% 4.1% +1.1pp 367 373 Consumers loans(2) €5bn €5bn (7)%
Slide 18: Retail Banking & Insurance: Financial Solutions & Expertise
RETAIL BANKING & INSURANCE Financial Solutions & Expertise BREAKDOWN OF REVENUES PER BUSINESS LINE in H1-24 €m(1) Q2-24 % H1-24 % Change Change Consumer credit Net banking income 320 4% 647 4% 25% 23% Leasing Operating expenses (154) 2% (316) 2% Factoring Gross operating income 166 7% 331 6% Cost of
Slide 19: Retail Banking & Insurance: Insurance
RETAIL BANKING & INSURANCE Insurance(1) LIFE INSURANCE AuM(2) in €bn PREMIUMS(2) in €bn GLOBAL TURNOVER(2) REACHED €10.1BN IN H1-24 UP +7% YOY DRIVEN 5.5 (16)% 9.5 10.1 +7% BY A DYNAMIC COMMERCIAL ACTIVITY 4.0 1.8 ESPECIALLY IN LIFE INSURANCE BUSINESS 4.6 1.1 +7% 98.8 +7% 92.0 +7% (19)% Net revenues
Slide 20: Retail Banking & Insurance: Digital & Payments
RETAIL BANKING & INSURANCE Digital & Payments % % DIGITAL & AI €m(1) Q2-24 H1-24 Change Change Digital: 10 million monthly active clients on Banque Populaire and Caisse d’Epargne mobile apps (+4% vs. June 2023). NPS +55 (web and mobile) Net banking income 214 5% 429 5% Transformative AI : 6 million
Slide 21: Retail Banking & Insurance: Business Line P&L
RETAIL BANKING & INSURANCE Business Line P&L STRONG COMMERCIAL ACTIVITY REFLECTED IN THE INCREASING COMMISSIONS % % €m(1) Q2-24 H1-24 Change Change Net banking income 3,701 2% 7,464 (1)% Residential mortgages: stable YoY to €399bn Equipment loans: +3% YoY to €195bn Consumer loans(2): +4% YoY to €41b
Slide 22: Global Financial Services: Corporate & Investment Banking
GLOBAL FINANCIAL SERVICES Corporate & Investment Banking NET REVENUES(1) in €m REVENUES STAND AT €1.1BN IN Q2-24, UP 7% YOY 2,130 2,235 DRIVEN BY ALL BUSINESSES 1,133 3 1,102 91 286 1,056 1,034 243 1,002 42 155 40 25 129 43 131 110 181 758 868 GLOBAL MARKETS 462 406 391 374 455 Net revenues: €555m i
Slide 23: Global Financial Services: Asset & Wealth Management
GLOBAL FINANCIAL SERVICES Asset & Wealth Management ASSETS UNDER MANAGEMENT(1) in €bn AuM(1): reached €1,232bn up 6% YTD with a high level of long term net inflows and positive market and FX effects 18 1,232 31 AM flows(1): strong net inflows reached €11bn in Q2-24 and €17bn 1,166 18 in H1-24 mainly
Slide 24: Global Financial Services: Business Line P&L
GLOBAL FINANCIAL SERVICES Business Line P&L Constant Constant % % €m(1) Q2-24 Fx % H1-24 Fx % Change Change SOLID COMMERCIAL AND FINANCIAL PERFORMANCE DELIVERED BY change change THE GLOBAL BUSINESSES, REVENUES UP 8% IN Q2-24 YOY Net banking income 1,983 8% 8% 3,916 6% 6% o/w CIB 1,133 7% 7% 2,235 5%
Slide 25: Conclusion
04 CONCLUSION
Slide 26: Conclusion
CONCLUSION STRONG COMMERCIAL FINANCIAL STRENGTH ACTIVITY FINANCIAL DISCIPLINE AND LT CREDIT RATINGS AT THE HIGHEST EUROPEAN LEVEL 1st rebound in quarterly NBI Discipline on costs CET1 ratio at 15.6% at end-June 2024 in Q2-24 YoY since end-2022 Operating expenses -3% in H1-24 YoY Continued positive c
Slide 27: Annexes
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Slide 28: 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 29: Notes on methodology (1/3)
NOTES ON METHODOLOGY (1/3) Net banking income Presentation of the pro -forma quarterly results • Customer net interest income, excluding regulated home savings schemes, is • The 2023 quarterly series are presented pro forma with changes computed on the basis of interest earned from transactions with
Slide 30: Notes on methodology (2/3)
NOTES ON METHODOLOGY (2/3) Total loss-absorbing capacity Loan outstandings and deposits & savings The amount of liabilities eligible for inclusion in the numerator used to • Restatements regarding transitions from book outstandings calculate the Total Loss-Absorbing Capacity (TLAC) ratio is determin
Slide 31: Notes on methodology (3/3)
NOTES ON METHODOLOGY (3/3) Liquidité 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 Total liquidity reserves comprise the following: Average rate (%) for residential mortgages: the average client rate for residential mortgages corresponds to the weighted average of actuarial
Slide 32: Reconciliation of 2023 reported data to pro forma data
RECONCILIATION OF 2023 REPORTED DATA TO PRO FORMA DATA Retail banking and Insurance Q1-23 Q2-23 Q3-23 Q4-23 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 ta
Slide 33: Q2-24 & Q2-23 results: reconciliation to alternative performance measures
Q2-24 & Q2-23 RESULTS: RECONCILIATION OF REPORTED DATA TO ALTERNATIVE PERFORMANCE MEASURES Net Gains or Operating Cost of Income Net income €m banking losses on expenses risk before tax - Group share income other assets Reported Q2-24 results 5,626 (4,008) (560) 59 1,124 806 Business lines/Corporate
Slide 34: H1-24 & H1-23 results: reconciliation to alternative performance measures
H1-24 & H1-23 RESULTS: RECONCILIATION OF REPORTED DATA TO ALTERNATIVE PERFORMANCE MEASURES Net Gains or Operating Cost of Income Net income €m banking losses on expenses risk before tax - Group share income other assets Reported H1-24 results 11,379 (8,159) (942) (59) 2,358 1,681 Business lines/Corp
Slide 35: Groupe BPCE: underlying cost to income ratio
GROUPE BPCE: UNDERLYING COST TO INCOME RATIO Net banking Operating Underlying €m income expenses cost income ratio Q2-24 reported figures 5,626 (4,008) Impact of exceptional items 1 (41) Q2-24 underlying figures 5,625 (3,967) 70.5% Net banking Operating Underlying €m income expenses cost income rati
Slide 36: Groupe BPCE: underlying cost to income ratio
GROUPE BPCE: UNDERLYING COST TO INCOME RATIO Net banking Operating Underlying €m income expenses cost income ratio H1-24 reported figures 11,379 (8,159) Impact of exceptional items 1 (79) H1-24 underlying figures 11,378 (8,080) 71.0% Net banking Operating Underlying €m income expenses cost income ra
Slide 37: Groupe BPCE: 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 Q2-24 Q2-23 Q2-24 Q2-23 Q2-24 Q2-23 Q2-24 Q2-23 % Net banking income 3,701 3,640 1,983 1,829 (58) (3) 5,626 5,467 3% Operating expenses (2,456) (2,460) (1,36
Slide 38: Groupe BPCE: half-year income statement per business line
GROUPE BPCE: HALF-YEAR INCOME STATEMENT PER BUSINESS LINE RETAIL BANKING GLOBAL FINANCIAL CORPORATE GROUPE & INSURANCE SERVICES CENTER BPCE €m H1-24 H1-23 H1-24 H1-23 H1-24 H1-23 H1-24 H1-23 % Net banking income 7,464 7,543 3,916 3,683 (1) 55 11,379 11,281 1% Operating expenses (5,002) (4,957) (2,73
Slide 39: Groupe BPCE: quarterly series
GROUPE BPCE: QUARTERLY SERIES GROUPE BPCE €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Net banking income 5,815 5,467 5,455 5,462 5,753 5,626 Operating expenses (4,587) (3,799) (3,812) (4,129) (4,151) (4,008) Gross operating income 1,228 1,667 1,642 1,332 1,602 1,618 Cost of risk (326) (342) (319) (744) (
Slide 40: Publication of NZBA trajectories
PUBLICATION OF NZBA TRAJECTORIES Sectoral targets ACTION PLAN TO REDUCE GREENHOUSE GAS EMISSIONS Residential real estate Financed carbon Targets by €1bn annually in financing for energy renovation intensity by Metric units Emission scope Scope projects for individuals by 2026 2030 sector Aluminium s
Slide 41: Consolidated balance sheet
CONSOLIDATED BALANCE SHEET ASSETS LIABILITIES June 30, 2024 Dec. 31, 2023 June 30, 2024 Dec. 31, 2023 €m €m Cash and amounts due from central banks 139,893 152,669 Amounts due to central banks 6 2 Financial assets at fair value through profit or loss 220,167 214,582 Financial liabilities at fair val
Slide 42: Goodwill
GOODWILL Dec. 31, 2023 Conversion June 30, 2024 €m Retail Banking & Insurance entities 822 822 Asset & Wealth Management entities 3,257 45 3,302 Corporate & Investment Banking entities 144 4 148 Total 4,224 49 4,273 Results for the 2nd quarter and 1st half of 2024 | August 1st, 2024 42
Slide 43: Statement of changes in shareholders' equity
STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY Equity attributable to €m shareholders’ equity 84,407 December 31, 2023 Restatements1 (56) December 31, 2023 restated 84,351 Distributions (849) Change in capital (cooperative shares) (405) Impact of acquisitions and disposals on non-controlling interests
Slide 44: Financial structure: changes in regulatory capital and fully-loaded ratios
FINANCIAL STRUCTURE: CHANGES IN REGULATORY CAPITAL AND FULLY-LOADED RATIOS REGULATORY CAPITAL (in €bn) €m June 30, 2024 Dec. 31, 2023 83.4 84.4 12.2 13.0 Equity attribuable to shareholders’ equity 84.7 84.4 Tier-2 capital Cancelation of hybrid securities in equity 29.3 29.4 - - Cooperative shares at
Slide 45: Financial structure: 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, 2024 requirement requirement buffer buffer buffer (CCyB) Total June 30, 2024 requirement requirement buffer buffer (CCyB) T
Slide 46: Financial structure: prudential ratios and credit ratings
FINANCIAL STRUCTURE: PRUDENTIAL RATIOS AND CREDIT RATINGS Long-term senior preferred credit ratings June 30, 2024(1) Dec. 31, 2023 Dec. 31, 2022 (August 1ST, 2024) Total risk-weighed assets €458bn €458bn €461bn A+ stable outlook Common Equity Tier-1 capital €71.5bn €71.2bn €69.7bn A1 Tier-1 capital
Slide 47: 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) 34.5% 8.2% 26.3% 27.3% Eligible Senior Preferred debt 22.4% Senior Non-Preferred 7.2% Senior Non-Preferred 7.2% 3.5% Tier 2 3.5% Tier 2 CET1 CET1 15.6% 15.6% 2024 TLAC June 30, 2024 20
Slide 48: Risk-weighted assets
RISK-WEIGHTED ASSETS BREAKDOWN PER BUSINESS LINE (in €bn) BREAKDOWN PER TYPE OF RISK(1) (in €bn) 458 458 458 458 Other 9% 9% 9% 9% 3% 3% Operational Risk 19% 20% Global Financial Services Market Risk Retail Banking & 88% 88% Insurance Credit Risk 72% 71% Dec. 31, 2023 March 31, 2024 Dec. 31, 2023 Ju
Slide 49: Leverage ratio
LEVERAGE RATIO €bn June 30, 2024(1) Dec. 31, 2023 Tier-1 capital 71.5 71.2 Balance sheet total(2) 1,552.8 1,539.3 Prudential restatements (115.0) (105.6) Prudential balance sheet total(2) 1,437.8 1,433.7 (3) Adjustments related to exposure to derivates (12.3) (18.1) Adjustments related to security f
Slide 50: Financial conglomerate
FINANCIAL CONGLOMERATE Financial conglomerate FINANCIAL CONGLOMERATE RATIO CRR/CRD IV(2) Restatements viewpoint viewpoint +5.0 Banking CR (1) (CRR/CRD IV) Regulatory capital + Total capital 89.4 Insurance CR(1) (Solvency 2) (in €bn) 84.4 RESTATEMENTS APPLIED - 1 2 3 +4.7 74.9 Shift from a Cancellati
Slide 51: 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) Coverage ratio of short-term funding + MLT debt (2) maturing in the short-term by liquidity reserves 324 329 186% 190% 302 161% 276 147% 1
Slide 52: Retail Banking & Insurance: quarterly income statement
RETAIL BANKING & INSURANCE: QUARTERLY INCOME STATEMENT FINANCIAL BANQUE POPULAIRE CAISSE D'EPARGNE RETAIL BANKING & SOLUTIONS & INSURANCE DIGITAL & PAYMENTS OTHER NETWORK NETWORK NETWORK INSURANCE EXPERTISE €m Q2-24 Q2-23 % Q2-24 Q2-23 % Q2-24 Q2-23 % Q2-24 Q2-23 % Q2-24 Q2-23 % Q2-24 Q2-23 % Q2-24
Slide 53: Retail Banking & Insurance: half-year income statement
RETAIL BANKING & INSURANCE: HALF-YEAR INCOME STATEMENT FINANCIAL BANQUE POPULAIRE CAISSE D'EPARGNE RETAIL BANKING & SOLUTIONS & INSURANCE DIGITAL & PAYMENTS OTHER NETWORK NETWORK NETWORK INSURANCE EXPERTISE €m H1-24 H1-23 % H1-24 H1-23 % H1-24 H1-23 % H1-24 H1-23 % H1-24 H1-23 % H1-24 H1-23 % H1-24
Slide 54: Retail Banking & Insurance: quarterly series
RETAIL BANKING & INSURANCE: QUARTERLY SERIES RETAIL BANKING & INSURANCE €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Net banking income 3,903 3,640 3,709 3,576 3,763 3,701 Operating expenses (2,497) (2,460) (2,359) (2,499) (2,547) (2,456) Gross operating income 1,406 1,180 1,350 1,077 1,217 1,245 Cost of
Slide 55: 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 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Net banking income 1,569 1,442 1,469 1,382 1,489 1,489 Operating expenses (1,018) (1,015) (961) (975) (1,043) (1,025) Gross operating income 551
Slide 56: Retail Banking & Insurance: deposits & savings and loan outstandings
RETAIL BANKING & INSURANCE DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) Change YoY Change YoY 927 3% 1% 898 713 718 238 (4)% Sight deposits 248 1% Passbook savings accounts (8)% Regulated home savings plans 399 399 234 231 28% Term accounts (1) 0% Residential mortages 71 x3 BPCE bonds plac
Slide 57: Retail Banking & Insurance: Banque Populaire network
RETAIL BANKING & INSURANCE: BANQUE POPULAIRE NETWORK DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) Change YoY Change YoY 3% (1)% 384 372 (4)% Sight deposits 303 299 120 125 1% Passbook savings accounts 91 92 (7)% Regulated home savings plans 14 15 2% Equipment loans 76 29% Term accounts 29
Slide 58: Retail Banking & Insurance: Caisse d'Epargne network
RETAIL BANKING & INSURANCE: CAISSE D’EPARGNE NETWORK DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) Change YoY Change YoY 3% 2% 509 526 373 367 20 21 (5)% Sight deposits 108 114 2% Passbook savings accounts 92 95 (8)% Regulated home savings plans 157 23 22 155 27% Term accounts 3% Personal l
Slide 59: Retail Banking & Insurance: FSE quarterly series
RETAIL BANKING & INSURANCE: FSE QUARTERLY SERIES FINANCIAL SOLUTIONS & EXPERTISE €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Net banking income 315 306 318 335 327 320 Operating expenses (157) (151) (154) (167) (162) (154) Gross operating income 158 155 164 168 166 166 Cost of risk (6) (19) (18) (54) (24
Slide 60: Retail Banking & Insurance: Insurance quarterly series
RETAIL BANKING & INSURANCE: INSURANCE QUARTERLY SERIES INSURANCE €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Net banking income 180 126 181 146 188 118 Operating expenses (43) (37) (42) (41) (42) (25) Gross operating income 137 89 139 105 146 93 Income before tax 139 93 137 107 149 99 Net income – Group
Slide 61: Retail Banking & Insurance: Digital & Payments quarterly series
RETAIL BANKING & INSURANCE: DIGITAL & PAYMENTS QUARTERLY SERIES DIGITAL & PAYMENTS €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Net banking income 205 203 209 199 215 214 Operating expenses (161) (163) (157) (171) (160) (159) Gross operating income 44 40 52 27 55 55 Cost of risk (32) (41) (29) (69) (31) (
Slide 62: Retail Banking & Insurance: Other Network quarterly series
RETAIL BANKING & INSURANCE: OTHER NETWORK QUARTERLY SERIES OTHER NETWORK €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Net banking income 97 97 99 91 91 93 Operating expenses (51) (52) (52) (63) (55) (55) Gross operating income 46 45 47 28 37 38 Cost of risk (2) 2 (14) (19) (16) (17) Income before tax 52 4
Slide 63: 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 Q2-24 Q2-23 Q2-24 Q2-23 Q2-24 Q2-23 % Net banking income 850 773 1,133 1,056 1,983 1,829 8% Operating expenses (673) (636) (694) (651) (1,36
Slide 64: 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 H1-24 H1-23 H1-24 H1-23 H1-24 H1-23 % Net banking income 1,681 1,554 2,235 2,130 3,916 3,683 6% Operating expenses (1,335) (1,280) (1,399)
Slide 65: Global Financial Services: quarterly series
GLOBAL FINANCIAL SERVICES: QUARTERLY SERIES GLOBAL FINANCIAL SERVICES €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Net banking income 1,854 1,829 1,767 1,908 1,933 1,983 Operating expenses (1,305) (1,287) (1,283) (1,394) (1,368) (1,366) Gross operating income 549 542 483 514 564 617 Cost of risk 27 (91) (
Slide 66: Corporate & Investment Banking: quarterly series
CORPORATE & INVESTMENT BANKING: QUARTERLY SERIES CORPORATE & INVESTMENT BANKING €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Net banking income 1,074 1,056 1,002 1,034 1,102 1,133 Operating expenses (661) (651) (650) (703) (706) (694) Gross operating income 412 405 352 331 396 439 Cost of risk 21 (90) (28
Slide 67: Asset & Wealth Management: quarterly series
ASSET & WEALTH MANAGEMENT: QUARTERLY SERIES ASSET & WEALTH MANAGEMENT €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Net banking income 781 773 764 874 830 850 Operating expenses (644) (636) (633) (691) (662) (673) Gross operating income 137 137 131 183 168 178 Cost of risk 6 (1) 11 (12) (5) 9 Income before
Slide 68: Corporate Center: quarterly series
CORPORATE CENTER: QUARTERLY SERIES CORPORATE CENTER €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Net banking income 57 (3) (21) (22) 57 (58) Operating expenses (785) (52) (170) (237) (236) (186) Gross operating income (728) (55) (191) (259) (179) (244) Cost of risk (46) 1 0 (28) (28) (2) Share in income o
Slide 69: Performing & non-performing loans and impairment
PERFORMING & NON-PERFORMING LOANS AND IMPAIRMENT €bn June 30, 2024 Dec. 31, 2023 Gross outstanding loans to customers and credit institutions 967.7 963.7 O/w S1 outstandings 802.9 809.8 O/w S2 outstandings 140.6 131.1 O/w S3 outstandings 24.2 22.8 Non-performing loans/gross outstanding loans 2.5% 2.
Slide 70: Cost of risk by business line
COST OF RISK BY BUSINESS LINE COST OF RISK(1) (in bps) S3 S1/S2 36 30 14 17 29 16 28 23 23 7 24 BP network 2 (9) (6) (8) 23 19 9 12 11 22 22 21 16 20 CE network (4) 1 (2) (13) (9) 35 14 16 z 30 16 26 24 21 23 27 5 RB&I (5) (7) (1) (10) 54 52 37 32 21 61 80 18 34 22 16 CIB (4) (2) (9) (26) 35 26 16 1
Slide 71: Breakdown of gross exposures at June 30, 2024
BREAKDOWN OF GROSS EXPOSURES AT JUNE 30, 2024(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 5% 1% 4% 2% 4
Slide 72: groupeBPCE.com
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