Natixis — Groupe BPCE — H1 2021 Earnings Presentation
87 slides from Natixis's earnings presentation, Aug 3, 2021
Slide 1: Results for the 2nd quarter and 1st half of 2021
Results for the 2nd quarter and 1st half of 2021 August 3, 2021
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 recovery in H1-21 driven by commercial momentum and lower cost of risk
Groupe BPCE: strong recovery in H1-21 driven by commercial momentum and significant decrease in cost of risk Group revenues: €12.5bn, +16.0% vs. H1-20 and +6.4% vs. H1-19 Revenues Retail Banking & Insurance: revenues +7.6% YoY; strong activity in retail banking, Insurance and FSE Global Financial Se
Slide 4: Strategic developments, Groupe BPCE results, Capital and liquidity
1 Strategic developments 2 Groupe BPCE results 3 Capital and liquidity 4 Business line results 5 Conclusion 4 RESULTS FOR THE 2ND QUARTER AND 1ST HALF OF 2021
Slide 5: Strategic developments (1/3)
Strategic developments (1/3) Groupe BPCE has engaged a major step in its transformation and the development of its businesses ʘ On February 9th, 2021, Groupe BPCE announced the public tender offer on the 29% Natixis shares the Group didn’t already own, to engage the simplification of its organizatio
Slide 6: Strategic developments (2/3): Areas of strategic focus for 2024
Strategic developments (2/3) Areas of strategic focus for 2024 3 strategic priorities 3 key principles 6 RESULTS FOR THE 2ND QUARTER AND 1ST HALF OF 2021
Slide 7: Strategic developments (3/3): A new and clear organization
Strategic developments (3/3) A new and clear organization, designed to catch growth RETAIL BANKING GLOBAL & INSURANCE FINANCIAL SERVICES 29 regional cooperative banks Asset & Corporate & Wealth Investment Management Banking Business lines serving retail banking & insurance activities Financial Servi
Slide 8: Strategic developments, Groupe BPCE results, Capital and liquidity
1 Strategic developments 2 Groupe BPCE results 3 Capital and liquidity 4 Business line results 5 Conclusion 8 RESULTS FOR THE 2ND QUARTER AND 1ST HALF OF 2021
Slide 9: Q2-21 & H1-21 results
Q2-21 & H1-21 results Strong jaws effect both in Q2-21 and H1-21 H1-21 net income(1) at €1.9bn Restated figures Q2-21 Q2-20 % Change H1-21 H1-20 % Change €m Net banking income 6,337 5,183 22.3% 12,455 10,726 16.1% Operating expenses (4,151) (3,837) 8.2% (8,806) (8,383) 5.0% o/w expenses excluding Si
Slide 10: Q2-21 & H1-21 results – Exceptional items
Q2-21 & H1-21 results – Exceptional items Limited impact of exceptional items €m Q2-21 Q2-20 H1-21 H1-20 Revaluation of assets associated with DSN Net banking income Corporate center 1 2 (2) - denominated in foreign currencies Contribution to the insurance guarantee fund Net banking income Insurance
Slide 11: Q2-21 & H1-21 results – Underlying figures
Q2-21 & H1-21 results – Underlying figures H1-21 net income(1) up to €2.25bn, driven by solid GOI growth and lower cost of risk Underlying figures Q2-21 % Change % Change H1-21 % Change % Change €m vs. Q2-20 vs. Q2-19 vs. H1-20 vs. H1-19 Net banking income 6,334 22.0% 6.6% 12,465 16.0% 6.4% Operatin
Slide 12: Cost of risk/Asset quality
Q2-21 & H1-21 results – Cost of risk/Asset quality Continued prudent provisioning: cost of risk at €822m in H1-21, down 44.6% vs. H1-20 strongly hit by the pandemic and up 34.8% vs. H1-19 COST OF RISK(1) S1/S2 S3 45 49 (in bps) 13 34 21 20 23 25 18 21 18 10 36 20 17 RB&I(2) 26 13 19 15 19 5 5 -1 2 1
Slide 13: Digital & Data
Digital & Data Increased use of data resources and digital services to serve the needs of our customers and their advisers Data resources and digital services serving the needs of our customer advisers H1-21 key figures DATA – AUTOMATION OF THE COLLECTION AND VERIFICATION OF CUSTOMER DOCUMENTS 12 mi
Slide 14: Groupe BPCE's commitment to society
Groupe BPCE's commitment to society Fight against climate change confirmed as a key priority for all business lines in new strategic plan BPCE 2024; the Group just joined the Net Zero Banking Alliance Strong commitments Alignment on a "Net Zero" trajectory: the Group has joined the "Net Zero Banking
Slide 15: Strategic developments, Groupe BPCE results, Capital and liquidity
1 Strategic developments 2 Groupe BPCE results 3 Capital and liquidity 4 Business line results 5 Conclusion 15 RESULTS FOR THE 2ND QUARTER AND 1ST HALF OF 2021
Slide 16: Capital and Loss-absorbing Capacity
Capital and Loss-absorbing Capacity CET1 ratio as at June 30, 2021 including full impact of the buyback of all Natixis minority shareholders, above 2021 year-end guidance CHANGE IN THE CET1 RATIO (in bps) Organic capital creation = 13bps Requirements Actual levels June 30, 2021 as at +32bps +4bps Ju
Slide 17: Liquidity
Liquidity ≈68% of the 2021 MLT wholesale funding plan(1) raised(2) MLT wholesale funding: revised 2021 plan and execution YTD(2) Structure of MLT wholesale funding(3) ʘ Target: €22bn(1) / Raised YTD(1,2):€14.9bn or ≈68% raised in 2021 YTD(2) • Tier 2 and/or Senior Non-Preferred Target: €5.5bn / Rais
Slide 18: Strategic developments, Groupe BPCE results, Capital and liquidity
1 Strategic developments 2 Groupe BPCE results 3 Capital and liquidity 4 Business line results 5 Conclusion 18 RESULTS FOR THE 2ND QUARTER AND 1ST HALF OF 2021
Slide 19: Retail Banking & Insurance
Retail Banking & Insurance Robust financial performance thanks to strong commercial activity; Large positive jaws effect and decline in the cost of risk Loan outstandings: €628bn, +7.8% YoY On-balance sheet deposits & savings(1): o/w residential mortgages +8.6% YoY €543bn, +6.8% YoY o/w consumer loa
Slide 20: Retail Banking & Insurance – Banques Populaires
Retail Banking & Insurance – Banques Populaires Sharp increase in GOI: +30.1% in H1-21, expenses well under control LOAN OUTSTANDINGS - in €bn - DEPOSITS & SAVINGS PRODUCTION +9.6% +8.9% Retail market – P&C 341 189 +64% In thousands of contracts 267 313 116 244 19 Off-balance sheet D&S 81 75 2.5 +26
Slide 21: Retail Banking & Insurance – Caisses d'Epargne
Retail Banking & Insurance – Caisses d’Epargne Strong increase in GOI: +9.2% in H1-21 LOAN OUTSTANDINGS - in €bn - DEPOSITS & SAVINGS PRODUCTION +4.7% 489 +6.5% 467 338 Retail market – P&C 255 +33% In thousands of contracts 325 134 140 305 10 Off-balance sheet D&S 5.1 7 61 3.8 +33% Consumer loans 59
Slide 22: Retail Banking & Insurance – Financial Solutions & Expertise
Retail Banking & Insurance – Financial Solutions & Expertise Good momentum in commercial activities, all businesses are catching opportunities in the economic turnaround Business activities Breakdown of revenues per business line in H1-21 ʘ Consumer credit: record level of personal loan financing in
Slide 23: Retail Banking & Insurance - Insurance
Retail Banking & Insurance - Insurance Scope: Insurance division of Natixis Solid commercial activity and financial performance Premiums(1) In €bn Life insurance AuMs(1) Share of UL products – H1-21 7.9 +50% +7% YTD +8% YoY share of UL +3pp +2pp 3.7 +79% +12% 5.3 €78.1bn 2.1 1.4 €6.4bn 2.1 1.9 €22bn
Slide 24: Retail Banking & Insurance – Payments / Oney Bank
Retail Banking & Insurance – Payments / Oney Bank PAYMENTS Scope: Payments division of Natixis Net revenues: +18.5% in H1-21 off a low base related to the lockdown measures in France having impacted the April/May commercial activity in 2020 Underlying figures(1) Q2-21 % Change H1-21 % Change ʘ Payme
Slide 25: Global Financial Services
Global Financial Services Good commercial momentum ASSET & WEALTH MANAGEMENT CORPORATE & INVESTMENT BANKING TWO GLOBAL BUSINESS LINES Net revenues: +45.6% in Q2-21 and +30.5% in H1-21; +53.3% in Q2-21 and +36.7% in H1-21 at constant Fx Underlying figures(1) Q2-21 % Change H1-21 % Change €m ʘ Growth
Slide 26: Global Financial Services – Asset & Wealth Management
Global Financial Services – Asset & Wealth Management Strong growth across the board Underlying figures(1) Q2-21 % H1-21 % Constant Q2-21 % H1-21 % Constant €m Change Change FX % Change Change FX % Change Change Net banking income 831 21.5% 1,586 16.3% 22.6% incl. 851 20.8% 1,625 9.9% 15.4% H2O AM O
Slide 27: Global Financial Services – Asset Management
Global Financial Services – Asset Management Robust AuM growth and fee rate dynamic Assets under management(1) (in €bn) Q2-21 AM fee rate (excl. perf. fees) (in bps. Figures excluding H2O AM) ~39 ~38 1,183 (+1.1bps QoQ) 35 ~35 Controlling affiliates WCM IM (6) 82 ~24 (+1.2bps QoQ) 5 1,153 74 (4) 833
Slide 28: Global Financial Services – Corporate & Investment Banking
Global Financial Services – Corporate & Investment Banking Strong commercial activity and improved cost of risk Net revenues(1) (in €m) Net revenues continue to exhibit solid momentum on the back of a strong 845 929 923 1,852 commercial activity and off a low base due to the H1-20 market conditions
Slide 29: Strategic developments, Groupe BPCE results, Capital and liquidity
1 Strategic developments 2 Groupe BPCE results 3 Capital and liquidity 4 Business line results 5 Conclusion 29 RESULTS FOR THE 2ND QUARTER AND 1ST HALF OF 2021
Slide 30: BPCE 2024: strategic priorities fitting our DNA
BPCE 2024: strategic priorities fitting perfectly our DNA and the societal expectations 2024 additional revenue target ENVIRONMENTAL ʘ Support for all customers, change in scale for all business lines > €300m TRANSITION ʘ Loan outstandings for energy renovation, renewable energy, and green mobility:
Slide 31: Ambitious targets for 2024
Ambitious targets for 2024 supported by our universal and cooperative model with commercial and financial strengths Net banking income: ~€25,5bn Cost savings: €800m per year Cost/income ratio: < 65% Cost of risk: < 25 basis points Net income (Group share): > €5bn CET1: > 15.5% Tier2(1) target: ≥ 2,5
Slide 32: Conclusion
Conclusion Good start to the BPCE 2024 strategic plan Strong recovery in H1-21 vs. H1-20 that had been heavily impacted by the pandemic Revenue growth and cost discipline leading to significant improvement in cost to income ratio: 67% in H1-21, down 7pp YoY Continued prudent provisioning: cost of ri
Slide 33: Annexes
Annexes 33 RESULTS FOR THE 2ND QUARTER AND 1ST HALF OF 2021
Slide 34: Annexes Content
Annexes Content Organization chart of Groupe BPCE Retail Banking & Insurance ʘ Income statement and quarterly series Consolidated results of Groupe BPCE ʘ Banque Populaire and Caisse d’Epargne – quarterly series ʘ Note on methodology ʘ Deposits & savings and loan outstandings ʘ Reconciliation of res
Slide 35: Organization chart of Groupe BPCE as at July 26, 2021
Annexes Organization chart of Groupe BPCE as at July 26, 2021 9 MILLION COOPERATIVE SHAREHOLDERS (2) 100% 100% (1) (3) FNBP FNCE 14 BANQUES 50% 50% POPULAIRES BANKS 15 CAISSES D’EPARGNE 100% SUBSIDIARIES BPCE NATIXIS Banque Palatine, Subsidiaries grouped together within the Financial Solutions & Exp
Slide 36: Note on methodology (1/4)
Annexes Note on methodology (1/4) Presentation of restated quarterly results Simplified Public Tender Offer on Natixis shares Following the announcement on February 25, 2020 of the sale of a On February 9, 2021, BPCE SA announced its intent to acquire the shares 29.5% stake in Coface, all impacts re
Slide 37: Note on methodology (2/4)
Annexes Note on methodology (2/4) Exceptional items Operating expenses The exceptional items and the reconciliation of the restated income The operating expenses correspond to the aggregate total of the statement to the income statement reported by Groupe BPCE are “Operating Expenses” (as presented
Slide 38: Note on methodology (3/4)
Annexes Note on methodology (3/4) Digital indicators The percentage of consumer loans initiated via digital pathways is the The change of the number of active Secur'pass customers is the number number of consumer loans initiated via digital pathways that have of active Secur'pass customers at the en
Slide 39: Note on methodology (4/4)
Annexes Note on methodology (4/4) 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 is ʘ Central bank-eligible assets include: ECB
Slide 40: Reconciliation of restated data to reported data (Q2)
Annexes Reconciliation of restated data to reported data GROUPE GROUPE BPCE BPCE In millions of euros Q2-21 Coface Q2-21 Q2-20 Coface Q2-20 Reported Restated reported restated Net banking income 6,337 6,337 5,183 5,183 Operating expenses (4,151) (4,151) (3,837) (3,837) Gross operating income 2,187 2
Slide 41: Reconciliation of restated data to reported data (H1)
Annexes Reconciliation of restated data to reported data GROUPE GROUPE BPCE BPCE In millions of euros H1-21 Coface H1-21 H1-20 Coface H1-20 Reported Restated reported restated Net banking income 12,455 12,455 10,726 10,726 Operating expenses (8,806) (8,806) (8,383) (8,383) Gross operating income 3,6
Slide 42: Q2-21 results: reconciliation of alternative performance measures
Annexes Q2-21 results: reconciliation of alternative performance measures to restated data Net Operating Income Net banking expenses before tax income income - Group share excluding In millions of euros Coface Restated Q2-21 results 6,337 (4,151) 1,924 1,308 Revaluation of assets associated with dee
Slide 43: H1-21 results: reconciliation of alternative performance measures
Annexes H1-21 results: reconciliation of alternative performance measures to restated data Net Operating Income Net banking expenses before tax income income - Group share excluding In millions of euros Coface Restated H1-21 results 12,455 (8,806) 2,965 1,851 Revaluation of assets associated with de
Slide 44: Q2-20 results: reconciliation of alternative performance measures
Annexes Q2-20 results: reconciliation of alternative performance measures to restated data Net Operating Associates Gains or Income Net banking expenses losses on before tax income income other - Group assets share excluding In millions of euros Coface Restated Q2-20 results 5,183 (3,837) 48 (131) 2
Slide 45: H1-20 results: reconciliation of alternative performance measures
Annexes H1-20 results: reconciliation of alternative performance measures to restated data Net Operating Associates Gains or Income Net banking expenses losses on before tax income income other - Group assets share excluding In millions of euros Coface Restated H1-20 results 10,726 (8,383) 101 (130)
Slide 46: Reconciliation of 2020 data to pro forma data (1/2)
Annexes Reconciliation of 2020 data to pro forma data (1/2) Retail banking and Q1-20 Q2-20 Q3-20 Q4-20 Insurance Net Net Net Net In millions of euros Operating Income Operating Income Operating Income Operating Income banking Net income banking Net income banking Net income banking Net income expens
Slide 47: Reconciliation of 2020 data to pro forma data (2/2)
Annexes Reconciliation of 2020 data to pro forma data (2/2) Corporate center Q1-20 Q2-20 Q3-20 Q4-20 Net Net Net Net In millions of euros Operating Income Operating Income Operating Income Operating Income banking Net income banking Net income banking Net income banking Net income expenses before ta
Slide 48: Exceptional items and IFRIC 21 effects per business line (Q2-21)
Annexes Exceptional items and IFRIC 21 effects per business line Q2-21 RETAIL BANKING GLOBAL CORPORATE GROUPE BPCE & INSURANCE FINANCIAL CENTER In millions of euros SERVICES Impact of exceptional items (18) (9) (61) (88) (excl. Coface) Impact of IFRIC 21 29 10 121 159 Total impact on Income before 1
Slide 49: Exceptional items and IFRIC 21 effects per business line (Q2-20 pf)
Annexes Exceptional items and IFRIC 21 effects per business line Q2-20 pf RETAIL BANKING GLOBAL CORPORATE GROUPE BPCE & INSURANCE FINANCIAL CENTER In millions of euros SERVICES Impact of exceptional items (68) (7) (154) (229) (excl. Coface) Impact of IFRIC 21 29 11 89 129 Total impact on Income befo
Slide 50: Exceptional items and IFRIC 21 effects per business line (H1-21)
Annexes Exceptional items and IFRIC 21 effects per business line H1-21 RETAIL BANKING GLOBAL CORPORATE GROUPE BPCE & INSURANCE FINANCIAL CENTER In millions of euros SERVICES Impact of exceptional items (33) (43) (99) (175) (excl. Coface) Impact of IFRIC 21 (58) (19) (231) (308) Total impact on Incom
Slide 51: Exceptional items and IFRIC 21 effects per business line (H1-20 pf)
Annexes Exceptional items and IFRIC 21 effects per business line H1-20 pf RETAIL BANKING GLOBAL CORPORATE GROUPE BPCE & INSURANCE FINANCIAL CENTER In millions of euros SERVICES Impact of exceptional items (147) (7) (160) (314) (excl. Coface) Impact of IFRIC 21 (61) (21) (214) (297) Total impact on I
Slide 52: 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 Q2-21 Q2-20pf Q2-21 Q2-20pf Q2-21 Q2-20pf Q2-21 Q2-20pf % Net banking income 4,420 4,010 1,766 1,215 151 (42) 6,337 5,183
Slide 53: Restated income statement per business line
Annexes Groupe BPCE: restated income statement per business line RETAIL BANKING GLOBAL FINANCIAL CORPORATE GROUPE & INSURANCE SERVICES CENTER BPCE In millions of euros H1-21 H1-20pf H1-21 H1-20pf H1-21 H1-20pf H1-21 H1-20pf % Net banking income 8,718 8,086 3,465 2,669 272 (29) 12,455 10,726 16.1% Op
Slide 54: Groupe BPCE: restated quarterly series
Annexes Groupe BPCE: restated quarterly series GROUPE BPCE In millions of euros Q1-20pf Q2-20pf Q3-20pf Q4-20pf Q1-21 Q2-21 Net banking income 5,543 5,183 5,511 6,303 6,117 6,337 Operating expenses (4,546) (3,837) (3,905) (4,356) (4,655) (4,151) Gross operating income 997 1,346 1,606 1,947 1,462 2,1
Slide 55: Consolidated balance sheet
Annexes Consolidated balance sheet ASSETS LIABILITIES June 30, 2021 Dec. 31, 2020 (in millions of euros) June 30, 2021 Dec. 31, 2020 (in millions of euros) Cash and amounts due from central banks 151,361 153,403 Amounts due to central banks Financial assets at fair value through profit or loss 186,0
Slide 56: 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, 2020 72,683 Distributions (314) Capital increase (cooperative shares) 118 Impact of acquisitions and disposals on non-controlling interests (minority interests)
Slide 57: Goodwill
Annexes Goodwill 12/31/2020 Disposals Conversion 06/30/2021 In millions of euros Retail Banking & Insurance entities 1,049 1,049 Asset & Wealth Management entities 3,123 43 3,166 Corporate & Investment Banking entities 135 4 139 Total 4,307 47 4,354 57 RESULTS FOR 2ND QUARTER AND 1ST HALF OF 2020
Slide 58: 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) 78.2 77.0 In billions of euros June 30, 2021 Dec. 31, 2020 9.3 8.6 Equity attribuable to equity holders of the parent 76.3 72.7 26.9
Slide 59: 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 12/31/2020 requirement requirement buffer buffer buffer Total 06/30/2021 requirement requirement buffer buffer buffer Total S
Slide 60: Prudential ratios and credit ratings
Annexes Financial structure: prudential ratios and credit ratings Long-term SENIOR PREFERRED credit ratings June 30, 2021(1) Dec. 31, 2020 Dec. 31, 2019 (August 3, 2021) Total risk-weighed assets €439bn €431bn €422bn A+ negative outlook Common Equity Tier-1 capital €68.4bn €69.0bn €66.0bn Tier-1 cap
Slide 61: 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) 29.5% 25.0% 6.5% 22.9% 19.5% 4.8% 4.8% Eligible Senior Preferred debt Senior Non-Preferred Senior Non-Preferred 2.6% 2.6% Tier 2 Tier 2 Additional Tier 1 Additional Tier 1 CET1
Slide 62: Risk-Weighed Assets
Annexes Risk-Weighed Assets BREAKDOWN PER BUSINESS LINE (in €bn) BREAKDOWN PER TYPE OF RISK(1) (in €bn) 431 439 431 439 13% 12% Other 9% 9% 3% 4% 19% 20% Global Financial Services Operational Risk Retail Banking & 87% Market Risk 88% 68% 68% Insurance Credit Risk Dec. 31, 2020 June 30, 2021 Dec. 31,
Slide 63: Leverage ratio
Annexes Leverage ratio(1) June 30, 2021 Dec. 31, 2020 In billions of euros Tier-1 capital 68.4 69.0 Balance sheet total 1,452.4 1,446.3 Prudential restatements (124.0) (119.5) Prudential balance sheet total(1) 1,328.4 1,326.8 Adjustments related to exposure to derivates (3) (8.5) (32.5) Adjustments
Slide 64: Financial conglomerate
Annexes Financial conglomerate FINANCIAL CONGLOMERATE RATIO CRR/CRD IV(2) Restatements Financial viewpoint conglomerate viewpoint +4.5 Banking CR (1) (CRR/CRD IV) Regulatory capital +(1) Total capital (in €bn) 77.0 77 81,5 81,5 81.5 Insurance CR (Solvency 2) RESTATEMENTS APPLIED - 1 2 3 +7.6 67.0 Sh
Slide 65: 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) 318 246% 234% 241% 307 297 146
Slide 66: Retail Banking & Insurance: quarterly income statement
Annexes Retail Banking & Insurance: quarterly income statement BANQUE CAISSE POPULAIRE D'EPARGNE FINANCIAL SOLUTIONS OTHER RETAIL BANKING & EXPERTISE INSURANCE PAYMENTS NETWORKS & INSURANCE NETWORK NETWORK Q2-21 Q2-20pf % Q2-21 Q2-20pf % Q2-21 Q2-20pf % Q2-21 Q2-20pf % Q2-21 Q2-20pf % Q2-21 Q2-20pf
Slide 67: Retail Banking & Insurance: income statement
Annexes Retail Banking & Insurance: income statement BANQUE CAISSE POPULAIRE D'EPARGNE FINANCIAL SOLUTIONS OTHER RETAIL BANKING & EXPERTISE INSURANCE PAYMENTS NETWORKS & INSURANCE NETWORK NETWORK H1-21 H1-20pf % H1-21 H1-20pf % H1-21 H1-20pf % H1-21 H1-20pf % H1-21 H1-20pf % H1-21 H1-20pf % H1-21 H1
Slide 68: Retail Banking & Insurance: quarterly series
Annexes Retail Banking & Insurance: quarterly series RETAIL BANKING & INSURANCE Q1-20 pf Q2-20 pf Q3-20 pf Q4-20 pf Q1-21 Q2-21 In millions of euros Net banking income 4,076 4,010 4,098 4,276 4,298 4,420 Operating expenses (2,794) (2,577) (2,620) (2,816) (2,760) (2,687) Gross operating income 1,281
Slide 69: 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 Q1-20pf Q2-20pf Q3-20pf Q4-20pf Q1-21 Q2-21 In millions of euros Net banking income 1,572 1,483 1,588 1,672 1,669 1,738 Operating expenses (1,092) (1,016) (1,053) (1,082) (1,0
Slide 70: Retail Banking & Insurance: deposits and loans
Annexes Retail Banking & Insurance DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) 847.2 Change YoY Change YoY 796.7 +6.3% +7.8% 257.6 627.7 235.6 582.4 +9.4% Sight deposits 210.9 349.4 196.4 +7.4% Passbook savings accounts 321.6 +1.1% Regulated home savings plans 81.4 82.2 +7.8% Term account
Slide 71: 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 340.7 +8.9% +9.6% 312.9 132.1 117.4 243.8 267.3 +12.6% Sight deposits +12.0% Passbook savings accounts 147.1 66.9 +1.6% Regulated home savings plans 134.3 59.8 +1
Slide 72: 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 467.2 488.9 +4.7% +6.5% 116.5 109.5 324.8 305.0 +6.4% Sight deposits 142.9 +5.3% Passbook savings accounts 135.6 198.5 Regulated home savings plans 184.2 +0.9% +1
Slide 73: Retail Banking & Insurance: FSE quarterly series
Annexes Retail Banking & Insurance: FSE quarterly series FINANCIAL SOLUTIONS & EXPERTISE Q1-20pf Q2-20pf Q3-20pf Q4-20pf Q1-21 Q2-21 In millions of euros Net banking income 288 262 284 300 295 302 Operating expenses (159) (141) (150) (154) (157) (156) Gross operating income 130 120 134 146 138 146 C
Slide 74: Retail Banking & Insurance: Insurance quarterly series
Annexes Retail Banking & Insurance: Insurance quarterly series INSURANCE Q1-20pf Q2-20pf Q3-20pf Q4-20pf Q1-21 Q2-21 In millions of euros Net banking income 222 229 221 233 240 252 Operating expenses (134) (116) (117) (123) (138) (124) Gross operating income 88 113 104 110 102 128 Income before tax
Slide 75: Retail Banking & Insurance: Payments quarterly series
Annexes Retail Banking & Insurance: Payments quarterly series PAYMENTS Q1-20pf Q2-20pf Q3-20pf Q4-20pf Q1-21 Q2-21 In millions of euros Net banking income 113 85 117 115 117 118 Operating expenses (93) (94) (97) (102) (103) (101) Gross operating income 19 (9) 20 13 14 16 Income before tax 21 (9) 20
Slide 76: Retail Banking & Insurance: Other networks quarterly series
Annexes Retail Banking & Insurance: Other networks quarterly series OTHER NETWORKS Q1-20pf Q2-20pf Q3-20pf Q4-20pf Q1-21 Q2-21 In millions of euros Net banking income 197 189 184 189 181 187 Operating expenses (141) (123) (127) (146) (125) (114) Gross operating income 56 67 57 44 56 72 Cost of risk
Slide 77: Global Financial Services: restated quarterly income statement
Annexes Global Financial Services: restated quarterly income statement per business line CORPORATE & ASSET AND WEALTH GLOBAL FINANCIAL INVESTMENT MANAGEMENT BANKING SERVICES In millions of euros Q2-21 Q2-20pf Q2-21 Q2-20pf Q2-21 Q2-20pf % Net banking income 851 705 915 511 1,766 1,215 45.3% Operatin
Slide 78: Global Financial Services: restated income statement
Annexes Global Financial Services: restated income statement per business line CORPORATE & ASSET AND WEALTH GLOBAL FINANCIAL INVESTMENT MANAGEMENT BANKING SERVICES In millions of euros H1-21 H1-20pf H1-21 H1-20pf H1-21 H1-20pf % Net banking income 1,625 1,479 1,840 1,191 3,465 2,699 29.8% Operating
Slide 79: Global Financial Services: quarterly series
Annexes Global Financial Services: quarterly series GLOBAL FINANCIAL SERVICES Q1-20pf Q2-20pf Q3-20pf Q4-20pf Q1-21 Q2-21 In millions of euros Net banking income 1,454 1,215 1,439 1,888 1,698 1,766 Operating expenses (1,140) (1,017) (1,088) (1,254) (1,184) (1,208) Gross operating income 314 199 351
Slide 80: Asset & Wealth Management: quarterly series
Annexes Asset & Wealth Management: quarterly series ASSET & WEALTH MANAGEMENT Q1-20pf Q2-20pf Q3-20pf Q4-20pf Q1-21 Q2-21 In millions of euros Net banking income 774 705 745 1,003 773 851 Operating expenses (581) (539) (577) (698) (601) (625) Gross operating income 193 166 168 305 173 226 Cost of ri
Slide 81: Corporate & Investment Banking: quarterly series
Annexes Corporate & Investment Banking: quarterly series CORPORATE & INVESTMENT BANKING Q1-20pf Q2-20pf Q3-20pf Q4-20pf Q1-21 Q2-21 En millions d’euros Net banking income 680 511 695 885 925 915 Operating expenses (559) (478) (512) (556) (583) (583) Gross operating income 121 33 183 330 342 332 Cost
Slide 82: Corporate center: restated quarterly series
Annexes Corporate center: restated quarterly series CORPORATE CENTER Q1-20pf Q2-20pf Q3-20pf Q4-20pf Q1-21 Q2-21 In millions of euros Net banking income 13 (42) (26) 139 121 151 Operating expenses (612) (244) (197) (286) (711) (255) Gross operating income (598) (286) (223) (148) (590) (104) Cost of
Slide 83: Performing & non-performing loans and impairment
Annexes Performing & non-performing loans and impairment June.30, 2021 Dec.31, 2020 In billions of euros Gross outstanding loans to customers and credit institutions 870.3 850.4 O/w S1/S2 outstandings 847.9 828.9 O/w S3 outstandings 22.4 21.5 Non-performing loans/gross outstanding loans 2.6% 2.5% S1
Slide 84: Cost of risk by business lines
Annexes Cost of risk by business lines COST OF RISK(1) (in bps) 49 48 16 17 20 18 25 20 33 6 30 22 BP network 15 5 12 3 18 2 45 37 21 5 19 16 15 41 8 11 22 7 12 CE network 5 14 8 10 -2 45 49 13 21 20 23 25 10 36 18 17 26 20 RB&I 5 13 5 19 -1 163 123 121 124 95 112 112 53 65 47 17 CIB 11 39 9 30 6 8
Slide 85: 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 June 30, 2021(1) % % Gross % Total Group State- % Corporate custome
Slide 86: Breakdown of gross exposure at June 30, 2021
Annexes Breakdown of gross exposure at June 30, 2021(1) BREAKDOWN PER GEOGRAPHICAL REGION Financial institutions/local governments Central administrations/ Corporate customers Central banks and other sovereign exposures 4% 2% 4%1% 2% 2% 9% 9% 7% 8% 18% 26% 15% 70% 69% 53% France Centralization of re
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