Natixis — Groupe BPCE — FY2020 Earnings Presentation
80 slides from Natixis's earnings presentation, Feb 11, 2021
Slide 1: Results for Q4 and full year 2020
Results for Q4 and full year 2020 February 11, 2021
Slide 2: Disclaimer (1/2)
Disclaimer (1/2) 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
Slide 3: Disclaimer (2/2)
Disclaimer (2/2) This presentation has been prepared for information purposes only. It does not constitute an offer to buy, or the solicitation of an offer to sell any securities of Natixis, or an offer to sell, in any jurisdiction, including France. This document is not meant to be disseminated in
Slide 4: Groupe BPCE proved the efficiency of its business model
Groupe BPCE, strongly committed to supporting its clients and the economy, proved again the efficiency of its business model. The group is engaging a major step in its transformation and development Major strategic Groupe BPCE announced a project to simplify its structure and filed a public tender o
Slide 5: Agenda
1 Major strategic move 2 Groupe BPCE’s results 3 Capital and liquidity 4 Business lines’ results 5 Conclusion 5 RESULTS FOR Q4 AND FULL YEAR 2020
Slide 6: Groupe BPCE is engaging a major step in its transformation
Groupe BPCE is engaging a major step in its transformation and the development of its businesses ʘ Groupe BPCE announced the project to review and engage a possible evolution of its organisational model ʘ This project concerns the simplification of its organization around 2 sets of activities: the r
Slide 7: Project of simplification and evolution of its structure
Groupe BPCE announced a project of simplification and evolution of its structure Groupe BPCE wishes to study, together with its corporate bodies, an evolution of its organisation with: ʘ On one side, the retail businesses ʘ On the other side, Groupe BPCE’s global businesses, gathered within a new st
Slide 8: Agility, strategic flexibility and efficiency thanks to strong capital position
This project, providing agility, strategic flexibility and efficiency, is possible thanks to the strong capital position of Groupe BPCE ʘ A simplified organisation providing its businesses with the means to increase their strategic flexibility, accelerate their development for the benefit of their c
Slide 9: Contemplated timeline and key next steps of the project
Contemplated timeline and key next steps of the project 09-Feb-21 Transaction announcement Feb-21 Offer filing and submission of draft Offer prospectus1 by BPCE S.A. to the Autorité des Marchés Financiers (AMF) Mar-21 Filing of Natixis’ answer prospectus (including the report prepared by the indepen
Slide 10: Agenda
1 Major strategic move 2 Groupe BPCE’s results 3 Capital and liquidity 4 Business lines’ results 5 Conclusion 10 RESULTS FOR Q4 AND FULL YEAR 2020
Slide 11: Q4-20 & 2020 results – Restated figures
Q4-20 & 2020 results – Restated figures Strong increase (+15.8%) in gross operating income in Q4-20 marking the recovery; pursued prudent provisioning policy throughout 2020 Restated figures Q4-20 Q4-19 % Change 2020 2019 % Change €m Net banking income 6,303 6,123 2.9% 22,540 23,593 (4.5)% Operating
Slide 12: Q4-20 & 2020 results – Exceptional items
Q4-20 & 2020 results – Exceptional items Mostly driven by transformation and reorganization costs €m Q4-20 Q4-19 2020 2019 Revaluation of assets associated with DSN Net banking income Corporate center 3 2 7 17 denominated in foreign currencies Contribution to the insurance guarantee fund Net banking
Slide 13: Q4-20 & 2020 results – Underlying figures
Q4-20 & 2020 results – Underlying figures Strong positive jaws effect in Q4-20; continued strict cost management and prudent provisioning throughout 2020 Underlying figures Q4-20 Q4-19 % Change 2020 2019 % Change €m Net banking income 6,272 6,121 2.5% 22,516 23,576 (4.5)% Operating expenses (4,167)
Slide 14: Q4-20 & 2020 results – Operating expenses
Q4-20 & 2020 results – Operating expenses Continued decrease in costs: -2.8% in Q4-20 and -2.9%(1) in 2020 YoY OPERATING EXPENSES(2) in €m % Change 2020 / 2019 Q4-20 / Q4-19 Retail Banking: efficiency improvement in a client relationships’ best (3) standard approach 8,745 Large positive jaws effect
Slide 15: Cost of risk/Asset quality
Q4-20 & 2020 results – Cost of risk/Asset quality Cost of risk reflecting pursued prudent provisioning COST OF RISK(1) 45 49 (in bps) 35 23 23 24 21 18 20 RB&I 19 16 18 20 8 13 22 8 15 25 18 15 Cost of risk NPL ratio €2,992m 2.5% 163 126 x2.3 vs. 2019 -0.2 pp vs. Dec.19 123 45 20 13 49 117 121 106 1
Slide 16: Digital & Data
Digital & Data Strong take-up of digital channels, essential tools for our customers Increased use of Data resources and Digital services to support our customer advisers 'Self-care’: fluid and secure banking operations for customers 2020 key figures 4 million active Sécur-Pass customers, carrying o
Slide 17: Agenda
1 Major strategic move 2 Groupe BPCE’s results 3 Capital and liquidity 4 Business lines’ results 5 Conclusion 17 RESULTS FOR Q4 AND FULL YEAR 2020
Slide 18: Capital and Loss-absorbing Capacity
Capital and Loss-absorbing Capacity High capital and TLAC/MREL positions, well above the requirements CHANGE IN THE CET1 RATIO (in bps) 15.9% +14bps +6bps +9bps +6bps 16.0% Requirements Actual levels (26)bps Dec. 31, 2020 as of Dec. 31, 2020(1,3) 15.9%(2) CET1 ratio 9.32%(2) 16.0% (ECB) Total capita
Slide 19: Liquidity
Liquidity ≈28% of the 2021 MLT wholesale funding plan(1) raised in January MLT wholesale funding: execution of the 2020 plan Structure of MLT wholesale funding(3) ʘ €18.7bn(1) raised, o/w €4.1bn of Senior Non-Preferred debt, €5.8bn of Senior raised in 2020 Preferred debt and €8.8bn of Covered Bonds
Slide 20: Agenda
1 Major strategic move 2 Groupe BPCE’s results 3 Capital and liquidity 4 Business lines’ results 5 Conclusion 20 RESULTS FOR Q4 AND FULL YEAR 2020
Slide 21: Retail Banking & Insurance
Retail Banking & Insurance Revenues stand up well thanks to good business recovery in H2-20 Large positive jaws effect and prudent provisioning Loan outstandings: €613bn, +11.1% YoY On-balance sheet deposits & savings(1): o/w residential mortgages +8.1% YoY €522bn, +13.9% YoY o/w consumer loans +2.2
Slide 22: Retail Banking & Insurance – Banques Populaires
Retail Banking & Insurance – Banques Populaires Strong increase in GOI: +13.4% in Q4-20 and +3.2% in 2020 LOAN OUTSTANDINGS in €bn YOY CHANGE IN WEEKLY AVG. PRODUCTION(1) DEPOSITS & SAVINGS in €bn 23% 17% +12.0% 323 +15.5% 5% Residential mortgages 288 in €m 79 17% 260 Consumer loans Off-balance shee
Slide 23: Retail Banking & Insurance – Caisses d’Epargne
Retail Banking & Insurance – Caisses d’Epargne Strong increase in GOI: +14.8% in Q4-20 and +4.6% in 2020 LOAN OUTSTANDINGS in €bn YOY CHANGE IN WEEKLY AVG. PRODUCTION(1) DEPOSITS & SAVINGS in €bn 36% +8.4% 477 +8.5% 440 Residential mortgages 316 (6)% (4)% in €m 137 138 Consumer loans Off-balance she
Slide 24: Financial Solutions & Expertise
Retail Banking & Insurance – Financial Solutions & Expertise Very good commercial momentum with prudent risk management combined with strict cost control leading to a positive jaws effect Business activities Breakdown of revenues per business line in 2020 ʘ Consumer credit: good sales momentum resul
Slide 25: Retail Banking & Insurance - Insurance
Retail Banking & Insurance - Insurance Scope: Insurance division of Natixis Strong growth profile and delivery above targets Life(1) and Personal protection insurance Premiums(1) In €bn Life insurance AuMs(1) ʘ Total life insurance AuMs at €72.7bn at end-December 2020 €8.1bn of gross inflows in 2020
Slide 26: Payments / Oney Bank
Retail Banking & Insurance – Payments / Oney Bank PAYMENTS Scope: Payments division of Natixis Net revenues up YoY in both Q4-20 and 2020 despite the two lockdowns in France: March-May and November-December: Underlying figures(1) Q4-20 % Change 2020 % Change ʘ Payment Processing & Services: number o
Slide 27: Asset & Wealth Management
Asset & Wealth Management AuMs > €1.1trn Assets under management(1) (in €bn) AuMs +6% QoQ (at constant perimeter) 18 1,135 Controlling affiliates 177 1,117 Net inflows and a positive market effect more than offsetting a negative FX 18 WCM IM 67 67 impact (USD depreciation) Strong performance of Harr
Slide 28: Corporate & Investment Banking
Corporate & Investment Banking Back to growth with top-line recovery and strong cost discipline Net revenues on an upward trend with Q4-20 being the highest quarter of Net revenues(1) (in €m) the year and with a 2% YoY growth at constant exchange rate vs. Q4-19 901 853 Global markets: 145 741 126 ʘ
Slide 29: Agenda
1 Major strategic move 2 Groupe BPCE’s results 3 Capital and liquidity 4 Business lines’ results 5 Conclusion 29 RESULTS FOR Q4 AND FULL YEAR 2020
Slide 30: Groupe BPCE's commitments to society
Groupe BPCE's commitments to society Acting in a responsible and sustainable manner for society Social and environmental responsibility at the heart of our activities as bankers and insurers Supporting our small business and corporate customers ʘ State-guaranteed loans (SGLs): more than €30bn disbur
Slide 31: Groupe BPCE's commitments to society
Groupe BPCE's commitments to society Acting in a responsible and sustainable manner for society Recognized commitments Significant increase in the Group rating by Vigeo Eiris, from “Robust” to “Advanced” ʘ This places the Group at the highest level awarded in this category For its first assessment,
Slide 32: Conclusion
Conclusion Groupe BPCE, strongly committed to supporting its clients and the economy, proved again the efficiency of its business model and has been up to the challenge of this crisis Strong capital (among the best in class in Europe) and liquidity positions Robust Group revenues in a challenging en
Slide 33: Annexes
Annexes 33 RESULTS FOR Q4 AND FULL YEAR 2020
Slide 34: Annexes Content
Annexes Content Consolidated results of Groupe BPCE Retail Banking & Insurance ʘ Note on methodology ʘ Income statement and quarterly series ʘ Reconciliation of restated data to reported data ʘ Banque Populaire and Caisse d’Epargne – quarterly series ʘ Income statement: reconciliation of alternative
Slide 35: Note on methodology (1/4)
Annexes Note on methodology (1/4) Presentation of restated and pro forma quarterly Exceptional items results The exceptional items and the reconciliation of the restated income Following the announcement on February 25, 2020 of the sale of a statement to the income statement reported by Groupe BPCE
Slide 36: Note on methodology (2/4)
Annexes Note on methodology (2/4) Operating expenses Digital indicators The operating expenses correspond to the aggregate total of the The percentage of consumer loans initiated via digital pathways is the “Operating Expenses” (as presented in the Group’s registration number of consumer loans initi
Slide 37: Note on methodology (3/4)
Annexes Note on methodology (3/4) The change of the number of active Secur'pass customers is the number Total loss-absorbing capacity of active Secur'pass customers at the end of September 2020 compared The amount of liabilities eligible for inclusion in the numerator with the number of active Secur
Slide 38: Note on methodology (4/4)
Annexes Note on methodology (4/4) Liquidity Total liquidity reserves comprise the following: ʘ Withdrawal of short-term deposits held by certain financial customers ʘ Central bank-eligible assets include: ECB-eligible securities not eligible for the LCR, taken for their ECB valuation (after ECB hair
Slide 39: Reconciliation of restated data to reported data (1/2)
Annexes Reconciliation of restated data to reported data (1/2) GROUPE GROUPE BPCE BPCE In millions of euros Q4-20 Coface Q4-20 Q4-19 Coface Q4-19 reported restated reported restated Net banking income 6,303 6,303 6,300 (178) 6,123 Operating expenses (4,356) (4,356) (4,580) 138 (4,441) Gross operatin
Slide 40: Reconciliation of restated data to reported data (2/2)
Annexes Reconciliation of restated data to reported data (2/2) GROUPE GROUPE BPCE BPCE In millions of euros 2020 Coface 2020 2019 Coface 2019 reported restated Reported restated Net banking income 22,540 22,540 24,305 (712) 23,593 Operating expenses (16,644) (16,644) (17,582) 517 (17,065) Gross oper
Slide 41: Q4-20 reconciliation of alternative performance measures
Annexes Q4-20 results: reconciliation of alternative performance measures to restated data Net Operating Cost of Gains or Income Net Coface net Net banking expenses risk losses before tax income income income income on other - Group - Group assets share share excluding including Coface Coface In mil
Slide 42: Q4-19 reconciliation of alternative performance measures
Annexes Q4-19 results: reconciliation of alternative performance measures to restated data Net Operating Cost of Gains or Income Net Coface net Net banking expenses risk losses before tax income income income income on other - Group - Group assets share share excluding including Coface Coface In mil
Slide 43: 2020 reconciliation of alternative performance measures
Annexes 2020 results: reconciliation of alternative performance measures to restated data Net Operating Cost of Share in Gains or Income Net Coface net Net banking expenses risk net income losses before tax income income income income of on other - Group - Group associates assets share share excludi
Slide 44: 2019 reconciliation of alternative performance measures
Annexes 2019 results: reconciliation of alternative performance measures to restated data Net Operating Cost of Share in Gains or Goodwill Income Net income Coface net Net income banking expenses risk income of losses before tax - Group income - Group income equity- on other share share accounted as
Slide 45: Reconciliation of 2019 data to pro forma data (1/2)
Annexes Reconciliation of 2019 data to pro forma data (1/2) Retail banking and Q1-19 Q2-19 Q3-19 Q4-19 Insurance In millions of euros Net banking Operating Income Net banking Operating Income Net banking Operating Income Net banking Operating Income Net income Net income Net income Net income income
Slide 46: Reconciliation of 2020 data to pro forma data (2/2)
Annexes Reconciliation of 2020 data to pro forma data (2/2) Retail banking and Q1-20 Q2-20 Q3-20 Insurance In millions of euros Net banking Operating Income Net banking Operating Income Net banking Operating Income Net income Net income Net income income expenses before tax income expenses before ta
Slide 47: Exceptional items and IFRIC 21 effects per business line (1/2)
Annexes Exceptional items and IFRIC 21 effects per business line (1/2) Q4-20 RETAIL BANKING AWM CIB CORPORATE GROUPE BPCE In millions of euros & INSURANCE CENTER Impact of exceptional items (111) (49) (8) (25) (193) (excl. Coface) Impact of IFRIC 21 31 1 9 107 149 Total impact on Income before tax (
Slide 48: Exceptional items and IFRIC 21 effects per business line (2/2)
Annexes Exceptional items and IFRIC 21 effects per business line (2/2) 2020 RETAIL BANKING AWM CIB CORPORATE GROUPE BPCE In millions of euros & INSURANCE CENTER Impact of exceptional items (324) (93) (11) (186) (614) (excl. Coface) Impact of IFRIC 21 Total impact on Income before tax (324) (93) (11)
Slide 49: Restated quarterly income statement per business line
Annexes Groupe BPCE: restated quarterly income statement per business line CORPORATE RETAIL BANKING ASSET & WEALTH CORPORATE GROUPE & INVESTMENT & INSURANCE MANAGEMENT CENTER BPCE BANKING Restated figures Q4-20 Q4-19 pf Q4-20 Q4-19 Q4-20 Q4-19 Q4-20 Q4-19 pf Q4-20 Q4-19 % In millions of euros Net ba
Slide 50: Restated income statement per business line
Annexes Groupe BPCE: restated income statement per business line CORPORATE RETAIL BANKING ASSET & WEALTH CORPORATE GROUPE & INVESTMENT & INSURANCE MANAGEMENT CENTER BPCE BANKING Restated figures 2020 2019 pf 2020 2019 2020 2019 2020 2019 pf 2020 2019 % In millions of euros Net banking income 16,457
Slide 51: Groupe BPCE: restated quarterly series
Annexes Groupe BPCE: restated quarterly series GROUPE BPCE In millions of euros Q1-19 Q2-19 Q3-19 Q4-19 2019 Q1-20 Q2-20 Q3-20 Q4-20 2020 Net banking income 5,778 5,935 5,757 6,123 23,593 5,543 5,183 5,511 6,303 22,540 Operating expenses (4,563) (4,051) (4,011) (4,441) (17,065) (4,546) (3,837) (3,90
Slide 52: Consolidated balance sheet
Annexes Consolidated balance sheet ASSETS LIABILITIES Dec. 31, 2020 Dec. 31, 2019 (in millions of euros) Dec. 31, 2020 Dec. 31, 2019 (in millions of euros) Cash and amounts due from central banks 153,403 80,244 Amounts due to central banks Financial assets at fair value through profit or loss 196,26
Slide 53: 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, 2019 69,909 Distributions (337) Capital increase (cooperative shares) 1,191 Impact of acquisitions and disposals on non-controlling interests (minority interests
Slide 54: 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(1) (in €bn) 79.3 78.4 In billions of euros Dec. 31, 2020 Dec.31, 2019(1) 13.3 9.3 Equity attribuable to equity holders of the parent 72.7 69.9
Slide 55: Financial structure: MDA trigger threshold
Annexes Financial structure: MDA trigger threshold Already significant buffer over MDA trigger threshold increased by 75 bps since end 2019 Of which, cancellation or reduction of CCyBs (notably France and UK): 22bps benefit Of which, application of article 104a of CRD5: 44bps benefit on previous 1.7
Slide 56: Prudential ratios and credit ratings
Annexes Financial structure: prudential ratios and credit ratings Long-term SENIOR PREFERRED credit ratings Dec. 31, 2020(1) Dec. 31, 2019 Dec. 31, 2018(2) (February 11, 2021) Total risk-weighed assets €431bn €422bn €392bn A+ negative outlook Common Equity Tier-1 capital €69.1bn €66.0bn €62.2bn Tier
Slide 57: TLAC / MREL ratio
Annexes TLAC / MREL ratio TLAC(1) RATIO (as a % of risk-weighted assets) MREL(1) RATIO (as a % of risk-weighted assets) 30.2% 24.9% 6.6% 23.6% 5.0% 19.5% 5.0% Eligible Senior Preferred debt 2.6% Senior Non-Preferred 2.6% Senior Non-Preferred Tier 2 Tier 2 Additional Tier 1 Additional Tier 1 CET1 CET
Slide 58: Risk-Weighed Assets
Annexes Risk-Weighed Assets BREAKDOWN PER BUSINESS LINE (in €bn) BREAKDOWN PER TYPE OF RISK(1) (in €bn) 422 431 422 431 13% Other 9% 9% 15% 3% 4% 15% 16% 3% 3% Corporate & Operational Risk Investment Banking 87% Market Risk 88% 68% Asset & Wealth 67% Credit Risk Management Retail Banking & Insurance
Slide 59: Leverage ratio
Annexes Leverage ratio(1) In billions of euros 12/31/2020 12/31/2019 Tier-1 capital 69.1 66.0 Balance sheet total 1,446.3 1,338.1 Prudential restatements (119.5) (112.9) Prudential balance sheet total(1) 1,326.8 1,225.2 Adjustments related to exposure to derivates (3) (32.4) (38.0) Adjustments relat
Slide 60: Financial conglomerate
Annexes Financial conglomerate FINANCIAL CONGLOMERATE RATIO CRR/CRD IV(2) viewpoint Restatements Financial conglomerate viewpoint +4.1 Banking CR (1) (CRR/CRD IV) Regulatory capital + Total capital (in €bn) 78.4 78.4 82.5 82.5 82.5 Insurance CR(1) (Solvency 2) RESTATEMENTS APPLIED - 1 2 3 +8.2 66.3
Slide 61: 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 maturing in the short-term by liquidity reserves(2) 331 248% 255% 246% 319 307 188
Slide 62: Retail Banking & Insurance: quarterly income statement
Annexes Retail Banking & Insurance: quarterly income statement BANQUE CAISSE FINANCIAL SOLUTIONS OTHER RETAIL BANKING POPULAIRE D'EPARGNE INSURANCE PAYMENTS & EXPERTISE NETWORKS & INSURANCE NETWORK NETWORK Q4-20 Q4-19 pf % Q4-20 Q4-19 pf % Q4-20 Q4-19 pf % Q4-20 Q4-19 % Q4-20 Q4-19 % Q4-20 Q4-19 pf
Slide 63: Retail Banking & Insurance: income statement
Annexes Retail Banking & Insurance: income statement BANQUE CAISSE FINANCIAL SOLUTIONS OTHER RETAIL BANKING POPULAIRE D'EPARGNE INSURANCE PAYMENTS & EXPERTISE NETWORKS & INSURANCE NETWORK NETWORK 2020 2019 pf % 2020 2019 pf % 2020 2019 pf % 2020 2019 % 2020 2019 % 2020 2019 pf % 2020 2019 pf % In mi
Slide 64: Retail Banking & Insurance: quarterly series
Annexes Retail Banking & Insurance: quarterly series RETAIL BANKING & INSURANCE Q1-19 pf Q2-19 pf Q3-19 pf Q4-19 pf 2019 pf Q1-20 pf Q2-20 pf Q3-20 pf Q4-20 2020 In millions of euros Net banking income 4,003 4,032 3,905 4,109 16,050 4,075 4,009 4,097 4,275 16,457 Operating expenses (2,661) (2,658) (
Slide 65: 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 Q1-19 pf Q2-19 pf Q3-19 pf Q4-19 pf 2019 pf Q1-20 pf Q2-20 pf Q3-20 pf Q4-20 2020 In millions of euros Net banking income 1,586 1,594 1,536 1,589 6,305 1,572 1,483 1,588 1,672
Slide 66: Retail Banking & Insurance deposits and loans
Annexes Retail Banking & Insurance DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) 816.0 Change YoY Change YoY 744.6 +9.6% +11.1% 248.9 612.5 194.2 551.1 +28.1% Sight deposits 184.7 200.4 +8.5% Passbook savings accounts 338.7 313.3 +2.7% Regulated home savings plans 80.0 82.1 (2.2)% Term acco
Slide 67: Banque Populaire network deposits and loans
Annexes Retail Banking & Insurance: Banque Populaire network DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) Change YoY Change YoY +12.0% +15.5% 323.0 288.3 259.9 225.0 125.7 98.0 +28.2% Sight deposits 141.9 +13.1% Passbook savings accounts 130.3 55.7 63.0 +2.9% Regulated home savings plans (
Slide 68: Caisse d’Epargne network deposits and loans
Annexes Retail Banking & Insurance: Caisse d’Epargne network DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) Change YoY Change YoY 476.7 +8.4% +8.5% 439.6 114.5 315.8 88.6 291.0 +29.3% Sight deposits 136.3 +6.4% Passbook savings accounts 128.1 191.8 +2.5% Regulated home savings plans 178.9 +1
Slide 69: FSE quarterly series
Annexes Retail Banking & Insurance: FSE quarterly series FINANCIAL SOLUTION & EXPERTISE Q1-19 pf Q2-19 pf Q3-19 pf Q4-19 pf 2019 pf Q1-20 pf Q2-20 pf Q3-20 pf Q4-20 2020 In millions of euros Net banking income 270 278 266 296 1,109 288 262 284 300 1,134 Operating expenses (153) (151) (153) (171) (62
Slide 70: Insurance quarterly series
Annexes Retail Banking & Insurance: Insurance quarterly series INSURANCE Q1-19 Q2-19 Q3-19 Q4-19 2019 Q1-20 Q2-20 Q3-20 Q4-20 2020 In millions of euros Net banking income 218 207 205 216 846 221 228 220 232 901 Operating expenses (125) (116) (112) (125) (478) (134) (117) (117) (123) (491) Gross oper
Slide 71: Payments quarterly series
Annexes Retail Banking & Insurance: Payments quarterly series PAYMENTS Q1-19 Q2-19 Q3-19 Q4-19 2019 Q1-20 Q2-20 Q3-20 Q4-20 2020 In millions of euros Net banking income 103 105 103 111 423 113 86 117 115 431 Operating expenses (88) (94) (93) (96) (370) (94) (96) (98) (103) (391) Gross operating inco
Slide 72: Other networks quarterly series
Annexes Retail Banking & Insurance: Other networks quarterly series OTHER NETWORKS Q1-19 pf Q2-19 pf Q3-19 pf Q4-19 pf 2019 pf Q1-20 pf Q2-20 pf Q3-20 pf Q4-20 2020 In millions of euros Net banking income 81 81 84 202 448 197 189 184 189 760 Operating expenses (57) (64) (59) (146) (326) (141) (123)
Slide 73: Asset & Wealth Management: quarterly series
Annexes Asset & Wealth Management: quarterly series ASSET & WEALTH MANAGEMENT Q1-19 Q2-19 Q3-19 Q4-19 2019 Q1-20 Q2-20 Q3-20 Q4-20 2020 In millions of euros Net banking income 773 932 945 1,109 3,760 774 704 744 1,003 3,225 Operating expenses (558) (605) (648) (681) (2,492) (579) (537) (575) (696) (
Slide 74: Corporate & Investment Banking: quarterly series
Annexes Corporate & Investment Banking: quarterly series CORPORATE & INVESTMENT BANKING Q1-19 Q2-19 Q3-19 Q4-19 2019 Q1-20 Q2-20 Q3-20 Q4-20 2020 In millions of euros Net banking income 807 847 784 899 3,337 688 519 703 894 2,803 Operating expenses (582) (523) (527) (602) (2,235) (557) (477) (510) (
Slide 75: Corporate center: restated quarterly series
Annexes Corporate center: restated quarterly series CORPORATE CENTER Q1-19 pf Q2-19 pf Q3-19 pf Q4-19 pf 2019 pf Q1-20 pf Q2-20 pf Q3-20 pf Q4-20 2020 In millions of euros Net banking income 194 124 123 6 447 6 (50) (33) 132 55 Operating expenses (762) (265) (272) (328) (1,626) (613) (245) (198) (28
Slide 76: Non-performing loans and impairments
Annexes Non-performing loans and impairments In billions of euros Dec. 31, 2020 Dec.31, 2019 Dec. 31, 2018 Gross outstanding loans to customers and credit institutions 850.2 795.8 763.1 O/w S3 outstandings 21.5 21.6 21.5 Non-performing loans/gross outstanding loans 2.5% 2.7% 2.8% S3 impairments reco
Slide 77: Cost of risk by business lines
Annexes Cost of risk by business lines COST OF RISK(1) (in bps) 49 48 20 27 18 36 9 7 BP network 17 15 19 22 11 22 11 12 45 37 21 17 16 21 7 9 28 17 16 16 CE network 13 12 9 12 45 49 21 23 23 24 8 8 19 16 18 20 22 25 RB&I 13 15 163 123 46 13 110 117 121 95 73 CIB 19 63 37 55 49 23 32 20 29 8 6 32 26
Slide 78: Asset quality: limited exposures to sensitive sectors
Annexes Asset quality: limited exposures to sensitive sectors Diversified portfolio Exposure to sectors considered to be sensitive Breakdown of Group gross exposure per Corporate and small business Group exposures(2) counterparty at December 31, 2020(1) % % Gross % of total Corporate customers 4% ex
Slide 79: Breakdown of gross exposure at December 31, 2020
Annexes Breakdown of gross exposure at December 31, 2020(1) BREAKDOWN PER GEOGRAPHICAL REGION Financial institutions/local governments Central administrations/ Corporate customers Central banks and other sovereign exposures 4% 2% 4% 1% 3% 2% 10% 7% 7% 9% 15% 14% 26% 73% 52% 71% France Centralization
Slide 80: groupebpce.com
GROUPE ~ BPCE - PARIS 2024 PARIS 2024 QQY PARTENAIRE PREMIUM Gq groupebpce.com © ty) OC)