Natixis — Groupe BPCE — FY2022 Earnings Presentation
78 slides from Natixis's earnings presentation, Feb 9, 2023
Slide 1: Results
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Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements and comments relating to Preparation of the financial information requires Management to make estimates and the objectives and strategy of Groupe BPCE. By their very nature, assumptions in certain areas with regard to uncertain futu
Slide 3: Highlights: solid revenues and net income in 2022
Highlights: solid revenues and net income in 2022 DEVELOPMENTS PERFORMANCE STRENGTHS RB&I Reported net revenues 15.1% CET1 ratio Good expansion in client base €25.7bn; stable vs. 2021 end-December 2022 for the 2 BP & CE networks Including 11bps of organic Strong momentum in FSE businesses capital cr
Slide 4: Environmental transition: a long-term commitment
Environmental transition: a long-term commitment M ANAGING OUR FINANCING PORTFOLIOS O NE STEP FURTHER IN OUR AMBITIONS TO SUPPORT THE ENERGY TRANSITION Net-Zero Banking Alliance (NZBA) Alignment with the framework of an international benchmark to increase Program to have a color-rating scheme applie
Slide 5: Environmental transition: BPCE Towers: a global approach to CSR
Environmental transition: a long-term commitment BPCE Towers: a global approach to CSR 9,000 Introduction 40% occupants of hybrid working reduction methods in office space A global and cross-functional approach to CSR Calls for tenders Control of energy IT equipment Infrastructure Zero waste approac
Slide 6: Groupe BPCE results
01 Groupe BPCE results Capital and liquidity Business line results Conclusion
Slide 7: Results: reported net banking income
Results: reported net banking income RETAIL BANKING & INSURANCE in €m GLOBAL FINANCIAL SERVICES in €m +2% +2% 17,526 17,938 (6)% 14,107 14,343 +8% 0% +7% 7,558 7,105 +3% (14)% 3,646 3,756 3,911 3,349 1,222 1,317 972 974 899 958 BP & CE networks FSE Insurance Digital & RB&I CIB AWM GFS Payments (1) R
Slide 8: Results: reported operating expenses
Results: reported operating expenses OPERATING EXPENSES EXCL. SRF CONTRIBUTION in €m CONTINUED INCREASE IN SRF CONTRIBUTION (€m) Stable NBI +45% 25,716 25,705 Stable OPEX 610 17,419 17,467 421 28 32 87 270 40 2021 2022 (3) 3% (175) (217) 2% 2021 BP & CE FSE Insurance Digital & Other AWM CIB Corporat
Slide 9: Results: reported cost of risk/asset quality
Results: reported cost of risk/asset quality Stage 3 Stage 1/Stage 2 COST OF RISK(1) TOTAL PROVISIONS(2) (in €bn) In bps 37 34 14.3 26 13.5 13.8 24 16 21 23 12.9 Stage 1/Stage 2 10 15 18 cost of risk x2 vs. 2021 RB&I 18 11 14 11 7 €433m increase in 8.9 2022 YoY in Stage 36 9.4 9.2 33 9.9 1/Stage 2 c
Slide 10: Results: reported Group P&L
Results: reported Group P&L % Change % Change Stable revenues at €25.7bn in 2022 €m Q4-22 Q4-21 2022 2021 vs. Q4-21 vs. 2021 in line with target (≈€25.5bn) Net banking income 6,252 6,967 (10)% 25,705 25,716 0% Net interest margin down 2% YoY, Operating expenses (4,608) (4,916) (6)% (18,077) (17,840)
Slide 11: Capital and liquidity
Groupe BPCE results Capital and liquidity Business line results Conclusion
Slide 12: Capital and Loss-absorbing Capacity
Capital and Loss-absorbing Capacity Actual levels Requirements CHANGE IN THE CET 1 RATIO (in bps) December 31, as at December 31, 2022 2022(1) Organic capital creation = 11bps CET1 ratio 9.54%(2) 15.1% (ECB) +12bps +2bps +1bps 15.1%(1) Total capital 13.54%(2) 17.9% 15.1% ratio (ECB) (1)bps (10)bps 2
Slide 13: Liquidity: 36% of 2023 funding plan already completed
Liquidity: 36% of 2023 funding plan already completed MLT WHOLESALE FUNDING PLAN Structure of MLT wholesale funding(3) raised in 2022 2022 2023 Target: €24bn(2) / Raised(2): €27.3bn Target: €29bn(2) / Raised(1,2): €10.5bn Unsecured bond issues or 114% or 36% 49% 46% Covered bond issues ▪ TLAC fundin
Slide 14: Business line results
Groupe BPCE results Capital and liquidity Business line results Conclusion
Slide 15: Retail Banking & Insurance: Banques Populaires
Retail Banking & Insurance Banques Populaires LOAN OUTSTANDINGS in €bn PRODUCTION 2022 vs. 2021 8,000 new professional customers YoY 30.8 Residential mortgages 29.7 (4)% In €bn +33,000 at end-2022 in line with target (+40,000 at end-2024) +8% Consumer loans 4.8 5.1 +7% In €bn High level of loan outs
Slide 16: Retail Banking & Insurance: Caisses d'Epargne
Retail Banking & Insurance Caisses d’Epargne LOAN OUTSTANDINGS in €bn PRODUCTION 2022 vs. 2021 >143,000 new active individual customers YoY 320,000 at end-2022 in line with 38.4 38.0 Residential mortgages target (+410,000 at end-2024) +7% (1)% In €bn 360 High level of loan outstandings at end-2022 3
Slide 17: Retail Banking & Insurance: Financial Solutions & Expertise
Retail Banking & Insurance Financial Solutions & Expertise BREAKDOWN OF REVENUES CHANGE IN REVENUES Consumer credit: continued good PER BUSINESS LINE in 2022 PER BUSINESS LINE in 2022 momentum; Groupe BPCE consolidates its position as the leading bank 25%(1) Personal and revolving credit outstanding
Slide 18: Retail Banking & Insurance: Insurance
Retail Banking & Insurance Insurance LIFE INSURANCE AuM(1) in €bn PREMIUMS(1) in €bn Life insurance AuM(1): +3% vs. Dec.2021 3.6 14.3 14.2 (1)% €10.9bn gross inflows(1) and €5.1bn net 1.5 3.6 3.8 +6% inflows(1) for Life insurance in 2022. +7% (2.7) +7% Unit-linked products accounted for 41% 83.7 of
Slide 19: Retail Banking & Insurance: Digital & Payments 1/2
Retail Banking & Insurance Digital & Payments 1/2 PAYMENTS Payment & Processing Solutions: acceleration of mobile payments Underlying figures(1) (x2.3 vs. 2021). Continued growth of authorizations (+21% YoY vs. Q4-22 % Change 2022 % Change 2021). Number of card transactions processed up 15% YoY €m D
Slide 20: Retail Banking & Insurance: Digital & Payments 2/2
Retail Banking & Insurance Digital & Payments 2/2 2022 key figures Services available in online banking increasingly appreciated by our customers • 9.7 million individual and professional customers equipped with Secur'Pass to complete their day-to-day and sensitive transactions in a completely secur
Slide 21: Retail Banking & Insurance: Business Line P&L
Retail Banking & Insurance Business Line P&L Strong dynamic loan book expansion in all markets: Underlying figures(1) Q4-22 % Change 2022 % Change €m • Residential mortgages +8% YoY to €391bn Net banking income 4,244 (3)% 17,938 2% • Equipment loans +8% YoY to €186bn Operating expenses (2,936) 4% (1
Slide 22: Global Financial Services: Asset & Wealth Management
Global Financial Services Asset & Wealth Management ASSETS UNDER MANAGEMENT(1) in €bn AM revenues largely penalized by the negative market context and impacted by the decrease in performance fees compared to a high Other affiliates Private assets 2021 1,095 33 AuM: slightly down 2% QoQ, with limited
Slide 23: Global Financial Services: Corporate & Investment Banking
Global Financial Services Corporate & Investment Banking NET REVENUES(1) in €m Solid revenues up 2% vs. a strong 2021, in a context of market volatility 3,678 3,776 960 925 469 GLOBAL MARKETS 887 613 239 122 148 FIC-T revenues: €1,310m up 13% vs. 2021. 1,482 1,463 very dynamic activity in Forex and
Slide 24: Global Financial Services: Business Line P&L
Global Financial Services Business Line P&L AWM Constant Constant Underlying figures(1) Net revenues down YoY vs. 2021 due to: Q4-22 % Change Fx % 2022 % Change Fx % €m change change Revenues in AM largely penalized by the negative market context Net banking income 1,863 (21)% (24)% 7,105 (6)% (11)%
Slide 25: Conclusion
Groupe BPCE results Capital and liquidity Business line results Conclusion
Slide 26: Conclusion
Conclusion SUSTAINED BALANCE SHEET AMONG ONGOING FOCUS ON COMMERCIAL LOW RISK PROFILE THE STRONGEST EFFICIENCY DEVELOPMENT IN EUROPE • Continued expansion • 15.1% CET1 ratio at • Good control of • Proven efficiency in RB&I businesses; end-December 2022, with operating expenses(1), of diversified bus
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 restated data • Banque Populaire and Caisse d’Epargne – quarterly series • Reconciliation of reported data to pro forma data • De
Slide 29: Notes on methodology (1/5)
Notes on methodology (1/5) Presentation of th e pro -forma quar terly resul ts Creation of the Digital & Payments division Simplification of the Group's organizational structure • The Payments and Oney business lines have been brought together • Plans to simplify the Group's organizational structure
Slide 30: Notes on methodology (2/5)
Notes on methodology (2/5) Cost of risk • The cost of risk is expressed in basis points and measures the level of Net banking income risk per business line as a percentage of the volume of loan • Customer net interest income, excluding regulated home savings outstandings; it is calculated by compari
Slide 31: Notes on methodology (3/5)
Notes on methodology (3/5) To t a l l o s s - a b s o r b i n g c a p a c i t y Liquidity The amount of liabilities eligible for inclusion in the numerator used to Total liquidity reserves comprise the following: calculate the Total Loss-Absorbing Capacity (TLAC) ratio is determined • Central bank-e
Slide 32: Notes on methodology (4/5)
Notes on methodology (4/5) Digital indicators The number of active customers using mobile apps or websites Consumer loans initiated via digital pathways correspond to loans for corresponds to the number of customers who have made at least one visit which the holder or co-holder (natural person or in
Slide 33: Notes on methodology (5/5)
Notes on methodology (5/5) Business line indicators – Oney Bank BtoC: financing solutions distributed directly to customers. This line includes personal loans and revolving credit. BtoBtoC: payment and financing solutions distributed to customers through partners and retail chains. This line include
Slide 34: Reconciliation of reported data to restated data
Reconciliation of reported data to restated data GROUPE BPCE €m 2021 Coface 2021 Reported Restated Net banking income 25,716 25,716 Operating expenses (17,840) (17,840) Gross operating income 7,876 7,876 Cost of risk (1,783) (1,783) Share in net income of associates 220 (7) 212 Gains or losses on ot
Slide 35: Reconciliation of 2022 data to pro forma data
Reconciliation of 2022 data to pro forma data Retail banking and Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Insurance In millions of Net Net Net Net Net Operating Income Net Operating Income Net Operating Income Net Operating Income Net Operating Income Net banking banking banking banking banking euros income ex
Slide 36: Reconciliation of 2022 data to pro forma data
Reconciliation of 2022 data to pro forma data Corporate Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 center In millions of Net Net Net Net Net Operating Income Net Operating Income Net Operating Income Net Operating Income Net Operating Income Net banking banking banking banking banking euros income expenses befor
Slide 37: Q4-22 & Q4-21 results: reconciliation to alternative performance measures
Q4-22 & Q4-21 results: reconciliation of reported or restated data to alternative performance measures Gains Net Change Net income Operating Cost of or losses Income €m banking in value of - Group share expenses risk on other before tax income goodwill Excl. Coface assets Reported Q4-22 results 6,25
Slide 38: 2022 & 2021 results: reconciliation to alternative performance measures
2022 & 2021 results: reconciliation of reported or restated data to alternative performance measures Net Gains or Change in Net income Operating Cost of Income €m banking losses on value of - Group share expenses risk before tax income other assets goodwill Excl. Coface Reported 2022 results 25,705
Slide 39: Impact of exceptional items per business line
Impact of exceptional items per business line GLOBAL RETAIL BANKING CORPORATE GROUPE FINANCIAL & INSURANCE CENTER BPCE SERVICES €m Q4-22 Q4-21 Q4-22 Q4-21 Q4-22 Q4-21 Q4-22 Q4-21 Impact of exceptional items on Income before 209 (91) (14) (76) (266) (105) (71) (272) tax BANQUE CAISSE FINANCIAL DIGITA
Slide 40: Impact of exceptional items per business line
Impact of exceptional items per business line GLOBAL RETAIL BANKING CORPORATE GROUPE FINANCIAL & INSURANCE CENTER BPCE SERVICES €m 2022 2021 2022 2021 2022 2021 2022 2021 Impact of exceptional items on Income before 116 (153) (16) (126) (336) (232) (236) (512) tax BANQUE CAISSE FINANCIAL DIGITAL & O
Slide 41: Groupe BPCE: underlying cost to income ratio
Groupe BPCE: underlying cost to income ratio Net banking Operating Cost income €m income expenses ratio Q4-22 reported figures 6,252 (4,608) Impact of exceptional items 6 (96) SRF (14) Q4-22 underlying figures excluding SRF 6,246 (4,498) 72.0% Net banking Operating Cost income €m income expenses rat
Slide 42: Groupe BPCE: underlying cost to income ratio excluding SRF
Groupe BPCE: underlying cost to income ratio excluding SRF Net banking Operating Cost income €m income expenses ratio 2022 reported figures 25,705 (18,077) Impact of exceptional items 16 (320) SRF (610) 2022 underlying figures excluding SRF 25,688 (17,147) 66.7% Net banking Operating Cost income €m
Slide 43: 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 Q4-22 Q4-21pf Q4-22 Q4-21pf Q4-22 Q4-21pf Q4-22 Q4-21 % Net banking income 4,244 4,397 1,863 2,348 146 221 6,252 6,967 (10)% Operating expenses (3,008) (2,92
Slide 44: Groupe BPCE: 2022 income statement per business line
Groupe BPCE: 2022 income statement per business line RETAIL BANKING GLOBAL FINANCIAL CORPORATE GROUPE & INSURANCE SERVICES CENTER BPCE €m 2022 2021pf 2022 2021pf 2022 2021pf 2022 2021 % Net banking income 17,938 17,526 7,105 7,558 662 632 25,705 25,716 0% Operating expenses (11,439) (11,024) (5,168)
Slide 45: Groupe BPCE: quarterly series
Groupe BPCE: quarterly series GROUPE BPCE €m Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Net banking income 6,117 6,337 6,295 6,967 6,575 6,569 6,309 6,252 Operating expenses (4,655) (4,151) (4,119) (4,916) (4,961) (4,250) (4,258) (4,608) Gross operating income 1,462 2,187 2,176 2,051 1,614 2,31
Slide 46: Consolidated balance sheet
Consolidated balance sheet ASSETS LIABILITIES Dec. 31, 2022 Dec. 31, 2021 Dec. 31, 2022 Dec. 31, 2021 €m €m Cash and amounts due from central banks 171,318 186,317 Amounts due to central banks 9 6 Financial assets at fair value through profit or loss 192,751 198,919 Financial liabilities at fair val
Slide 47: Goodwill
Goodwill Other 12/31/2021 Acquisitions Disposals Impairment Conversion 12/31/2022 changes €m Retail Banking & Insurance entities 1,045 15 (66) (241) 754 Asset & Wealth Management 3,255 27 91 (66) 3,307 entities Corporate & Investment Banking 143 3 147 entities Total 4,443 42 (66) (241) 95 (66) 4,207
Slide 48: Statement of changes in shareholders' equity
Statement of changes in shareholders' equity Equity attributable to equity €m holders of the parent December 31, 2021 78,884 Distributions (396) Capital increase (cooperative shares) 779 Buyback of TSSDIs (82) Impact of acquisitions and disposals on non-controlling interests (minority (126) interest
Slide 49: Financial structure: changes in regulatory capital and fully-loaded ratios
Financial structure: changes in regulatory capital and fully-loaded ratios Regulatory capital (in €bn) 82.7 82.4 €bn Dec. 31, 2022 Dec. 31, 2021 12.9 12.7 Tier-2 capital Equity attribuable to equity holders of the 27.9 28.7 82.1 78.9 parent Cooperative shares Cancelation of hybrid securities in equi
Slide 50: Financial structure: distance to MDA
Financial structure: distance to MDA Capital Pillar I Pillar II conservation G-SIB Countercyclical Capital Jan. 1, 2022 requirement requirement buffer buffer buffer Total Pillar I Pillar II conservation G-SIB Countercyclical Jan. 1, 2023 requirement requirement buffer buffer buffer Total CET 1 ratio
Slide 51: Financial structure: prudential ratios and credit ratings
Financial structure: prudential ratios and credit ratings Dec. 31, 2022(1) Dec. 31, 2021 Dec. 31, 2020 Long-term SENIOR PREFERRED credit ratings (February 9, 2023) Total risk-weighed assets €461bn €441bn €431bn AA- Common Equity Tier-1 negative outlook €69.7bn €69.8bn €69.0bn capital Tier-1 capital
Slide 52: 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) 30.4% 6.7% Eligible Senior Preferred debt 25.0% 23.7% 21.5% Senior Non-Preferred 4.9% 4.9% Senior Non-Preferred 3.7% 3.7% Tier 2 Tier 2 CET1 CET1 15.1% 15.1% 2023 TLAC Dec. 31, 2022 20
Slide 53: Risk-Weighted Assets
Risk-Weighted Assets BREAKDOWN PER BUSINESS LINE (in €bn) BREAKDOWN PER TYPE OF RISK(1) (in €bn) 461 441 461 441 9% 8% Other 9% 3% 10% 3% Operational Risk 20% 20% Global Financial Services Market Risk Retail Banking & 88% 88% Insurance Credit Risk 70% 71% Dec. 31, 2021 Dec. 31, 2022 Dec. 31, 2021 De
Slide 54: Leverage ratio
Leverage ratio €bn Dec. 31, 2022(1) Dec. 31, 2021 Tier-1 capital 69.7 69.8 Balance sheet total(2) 1,530.5 1,516.0 Prudential restatements (127.0) (130.5) Prudential balance sheet total(2) 1,403.5 1,385.5 Adjustments related to exposure to derivates (3) (26.3) (17.4) Adjustments related to security f
Slide 55: 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 Insurance CR(1) (Solvency 2) (in €bn) 82.4 82,4 87,4 87,4 87.4 RESTATEMENTS APPLIED - 1 2 3 +5.0 71.4 Shift fr
Slide 56: 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 maturing in the short-term by liquidity reserves (2) 329 322 307 246% 247% 150% 146 181 16
Slide 57: Non-financial ratings
Non-financial ratings RANKINGS - RATING + A- Top 21% banks worldwide D- C B A- A C Prime « C Prime » status – 1st decile of world banks(1) D- D+ C- C A+ AA Top 30% banks worldwide(2) CCC B BB BBB A AA AAA 15.8 Top 13% banks worldwide(3) >40 30 20 10 0 62/10 Top 3% 0 banks worldwide(4) 0 30 50 60 100
Slide 58: Retail Banking & Insurance: quarterly income statement
Retail Banking & Insurance: quarterly income statement BANQUE POPULAIRE CAISSE D'EPARGNE FINANCIAL SOLUTIONS & RETAIL BANKING & INSURANCE DIGITAL & PAYMENTS OTHER NETWORK NETWORK NETWORK EXPERTISE INSURANCE €m Q4-22 Q4-21 % Q4-22 Q4-21 % Q4-22 Q4-21pf % Q4-22 Q4-21pf % Q4-22 Q4-21pf % Q4-22 Q4-21pf
Slide 59: Retail Banking & Insurance: income statement
Retail Banking & Insurance: income statement BANQUE CAISSE FINANCIAL SOLUTIONS OTHER RETAIL BANKING POPULAIRE D'EPARGNE INSURANCE DIGITAL & PAYMENTS & EXPERTISE NETWORK & INSURANCE NETWORK NETWORK 2022 2021 % 2022 2021 % 2022 2021pf % 2022 2021pf % 2022 2021pf % 2022 2021pf % 2022 2021pf % €m Net ba
Slide 60: Retail Banking & Insurance: quarterly series
Retail Banking & Insurance: quarterly series RETAIL BANKING & INSURANCE Q1-21pf Q2-21pf Q3-21pf Q4-21pf Q1-22 Q2-22 Q3-22 Q4-22 €m Net banking income 4,304 4,425 4,399 4,397 4,627 4,630 4,437 4,244 Operating expenses (2,757) (2,684) (2,664) (2,920) (2,856) (2,819) (2,756) (3,008) Gross operating inc
Slide 61: Banque Populaire and Caisse d'Epargne networks quarterly series
Retail Banking & Insurance: Banque Populaire and Caisse d’Epargne networks quarterly series BANQUE POPULAIRE NETWORK Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 €m Net banking income 1,669 1,737 1,736 1,725 1,838 1,818 1,771 1,683 Operating expenses (1,078) (1,056) (1,080) (1,141) (1,126) (1,100
Slide 62: Retail Banking & Insurance: deposits & savings and loan outstandings
Retail Banking & Insurance DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) Change YoY Change YoY 861 888 +3% +8% 267 701 267 650 0% Sight deposits 225 +6% Passbook savings accounts 391 212 363 (3)% Regulated home savings plans +19% Term accounts +8% Residential mortgages 82 80 +3% BPCE bonds
Slide 63: Retail Banking & Insurance: Banque Populaire network
Retail Banking & Insurance: Banque Populaire network DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) Change YoY Change YoY +6% +8% 368 347 298 139 276 137 +1% Sight deposits +7% Passbook savings accounts 166 154 74 (3)% Regulated home savings plans 69 +8% Residential mortgages +25% Term accou
Slide 64: 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 496 502 +1% +7% 360 336 120 119 (1)% Sight deposits 222 142 150 +6% Passbook savings accounts 207 (3)% Regulated home savings plans +14% Term accounts +8% Residential mor
Slide 65: Retail Banking & Insurance: FSE quarterly series
Retail Banking & Insurance: FSE quarterly series FINANCIAL SOLUTIONS & EXPERTISE Q1-21pf Q2-21pf Q3-21pf Q4-21pf Q1-22 Q2-22 Q3-22 Q4-22 €m Net banking income 300 307 308 306 336 332 321 328 Operating expenses (160) (157) (155) (172) (166) (163) (163) (180) Gross operating income 141 149 153 135 170
Slide 66: Retail Banking & Insurance: Insurance quarterly series
Retail Banking & Insurance: Insurance quarterly series INSURANCE Q1-21pf Q2-21pf Q3-21pf Q4-21pf Q1-22 Q2-22 Q3-22 Q4-22 €m Net banking income 242 253 231 245 258 257 207 251 Operating expenses (136) (121) (117) (129) (145) (129) (123) (138) Gross operating income 106 132 114 116 113 128 84 113 Inco
Slide 67: Retail Banking & Insurance: Digital & Payments quarterly series
Retail Banking & Insurance: Digital & Payments quarterly series DIGITAL & PAYMENTS €m Q1-21pf Q2-21pf Q3-21pf Q4-21pf Q1-22 Q2-22 Q3-22 Q4-22 Net banking income 219 218 229 233 239 239 241 240 Operating expenses (172) (169) (170) (184) (190) (184) (187) (222) Gross operating 47 49 58 48 49 54 53 18
Slide 68: Retail Banking & Insurance: Other network quarterly series
Retail Banking & Insurance: Other network quarterly series OTHER NETWORK Q1-21pf Q2-21pf Q3-21pf Q4-21pf Q1-22 Q2-22 Q3-22 Q4-22 €m Net banking income 78 85 80 84 84 89 86 88 Operating expenses (54) (44) (63) (51) (50) (52) (49) (58) Gross operating income 24 41 16 33 34 37 37 30 Cost of risk (18) (
Slide 69: Global Financial Services: quarterly income statement per business line
Global Financial Services: quarterly income statement per business line CORPORATE & ASSET AND WEALTH GLOBAL FINANCIAL INVESTMENT MANAGEMENT SERVICES BANKING €m % Q4-22 Q4-21pf Q4-22 Q4-21pf Q4-22 Q4-21pf Net banking income 928 1,397 935 950 1,863 2,348 (21)% Operating expenses (704) (958) (671) (715
Slide 70: Global Financial Services: 2022 income statement per business line
Global Financial Services: 2022 income statement per business line CORPORATE & ASSET AND WEALTH GLOBAL FINANCIAL INVESTMENT MANAGEMENT SERVICES BANKING €m % 2022 2021pf 2022 2021pf 2022 2021pf Net banking income 3,349 3,911 3,756 3,646 7,105 7,558 (6)% Operating expenses (2,638) (2,813) (2,530) (2,4
Slide 71: Global Financial Services: quarterly series
Global Financial Services: quarterly series GLOBAL FINANCIAL SERVICES €m Q1-21pf Q2-21pf Q3-21pf Q4-21pf Q1-22pf Q2-22 Q3-22 Q4-22 Net banking income 1,693 1,759 1,758 2,348 1,781 1,769 1,692 1,863 Operating expenses (1,188) (1,218) (1,225) (1,673) (1,275) (1,252) (1,265) (1,376) Gross operating inc
Slide 72: Asset & Wealth Management: quarterly series
Asset & Wealth Management: quarterly series ASSET & WEALTH MANAGEMENT €m Q1-21pf Q2-21pf Q3-21pf Q4-21pf Q1-22 Q2-22 Q3-22 Q4-22 Net banking income 771 849 894 1 397 812 814 796 928 Operating expenses (593) (618) (644) (958) (644) (650) (640) (704) Gross operating income 178 231 250 439 167 164 156
Slide 73: Corporate & Investment Banking: quarterly series
Corporate & Investment Banking: quarterly series CORPORATE & INVESTMENT BANKING €m Q1-21pf Q2-21pf Q3-21pf Q4-21pf Q1-22pf Q2-22 Q3-22 Q4-22 Net banking income 922 910 864 950 969 955 897 935 Operating expenses (595) (599) (581) (715) (631) (602) (626) (671) Gross operating 328 310 282 235 338 353 2
Slide 74: Corporate center: restated quarterly series
Corporate center: restated quarterly series CORPORATE CENTER €m Q1-21pf Q2-21pf Q3-21pf Q4-21pf Q1-22pf Q2-22 Q3-22 Q4-22 Net banking income 120 153 138 221 168 170 179 146 Operating expenses (710) (249) (230) (323) (830) (179) (236) (224) Gross operating income (590) (96) (92) (102) (662) (9) (57)
Slide 75: Performing & non-performing loans and impairment
Performing & non-performing loans and impairment €bn Dec. 31, 2022 Dec.31, 2021 Gross outstanding loans to customers and credit institutions 938.9 889.0 O/w S1 outstandings 789.4 788.2 O/w S2 outstandings 128.1 79.2 O/w S3 outstandings 21.4 21.6 Non-performing loans/gross outstanding loans 2.3% 2.4%
Slide 76: Cost of risk by business lines
Cost of risk by business lines COST OF RISK(1) (in bps) S3 S1/S2 40 37 25 19 28 20 22 22 9 22 22 22 12 10 18 20 19 BP network 2 21 9 12 15 3 2 26 28 19 17 17 11 15 13 12 8 7 16 CE network 10 10 15 8 12 8 7 7 2 10 11 -2 34 37 25 21 23 18 21 21 RB&I 20 17 z 16 12 14 10 23 19 18 8 10 11 14 5 4 -1 53 56
Slide 77: Breakdown of gross exposure at December 31, 2022
Breakdown of gross exposure at December 31, 2022(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 4% 2% 2% 2
Slide 78: groupebpce.com
GROUPE ~ BPCE ~ PARIS 2024 PARIS 2024 QOH PREMIUM PARTNER jw groupebpce.com