Natixis — Groupe BPCE — Q3 2019 Earnings Presentation
71 slides from Natixis's earnings presentation, Nov 7, 2019
Slide 1: Results for the 3rd Quarter and First 9 Months of 2019
RESULTS FOR THE 3RD QUARTER AND FIRST 9 MONTHS OF 2019 NOVEMBER 7, 2019
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: Key Messages
KEY MESSAGES Banque Populaire and Caisse d’Epargne Strong Q3-19 for Groupe BPCE: digital best-in-class revenues +1.5% net income1 +3.6% #1 among traditional banks in the D-rating ranking for the level of use and performance of their digital channels RB&I: stable revenues in Q3-19 at €4.0bn ʘ Good mo
Slide 4: Contents
CONTENTS 1 Results of Groupe BPCE 2 Capital and liquidity 3 Results of the business lines 4 Conclusion 4 RESULTS FOR THE 3RD QUARTER AND FIRST 9 MONTHS OF 2019
Slide 5: 9M-19 & Q3-19 Results 1/3
9M-19 & Q3-19 RESULTS 1/3 Q3-19 reported GOI +7.0% at €1.8bn Q3-19 reported net income - Group share +18.5% at €943m Reported figures 9M-19 Q3-19 9M-19 9M-18 Q3-19 Q3-18 €m vs. 9M-18 vs. Q3-18 Net banking income 18,004 18,157 (0.8)% 5,935 5,906 0.5% Operating expenses (13,002) (13,066) (0.5)% (4,136
Slide 6: Exceptional items: bulk of transformation costs incurred in Q1-19
9M-19 & Q3-19 RESULTS 2/3 Exceptional items: bulk of transformation costs for 9M-19 already incurred in Q1-19 €m 9M-19 9M-18 pf Q3-19 Q3-18 pf Breakdown of transformation and reorganization costs in 9M-19 Revaluation of assets associated with Corporate deeply subordinated notes denominated Net banki
Slide 7: Q3-19 underlying revenues +1.5%, net income +3.6%
9M-19 & Q3-19 RESULTS 3/3 Q3-19 underlying revenues +1.5% at €5.9bn Q3-19 underlying net income- Group share1 +3.6% at €904m 9M-19 Q3-19 Underlying figures 9M-19 Q3-19 9M-19 9M-18 pf vs. 9M-18 pf Q3-19 Q3-18 pf vs. Q3-18 pf €m vs. 9M-18 pf vs. Q3-18 pf constant FX constant FX Net banking income 17,9
Slide 8: Focus on cost of risk
9M-19 RESULTS – FOCUS ON COST OF RISK Low cost of risk; NPL ratio at 2.7% Cost of risk1 NPLs & coverage ratio In bps Ratio of non-performing loans/gross loan outstandings BP network 21 17 27 28 21 15 17 15 19 3.2% 2.8% 2.7% CE network2 23 January 1st, 2018 Dec. 31, 2018 September 30, 2019 13 15 15 1
Slide 9: Banque Populaire and Caisse d'Epargne digital best-in-class
9M-19 RESULTS – FOCUS ON DIGITAL INSIDE STRATEGY Banque Populaire and Caisse d’Epargne digital best-in-class Level of use and performance of digital channels Customers are increasingly making use of mobile devices #1 among traditional banks ~5 million active users of BP/CE apps in Sept. 2019 (+15% v
Slide 10: Acquisition of a 50.1% interest in Oney Bank completed
9M-19 RESULTS – FOCUS ON STRATEGIC DEVELOPMENTS Acquisition of a 50.1% interest in Oney Bank completed on October 22, 2019 ID card1 7.6 million customers > 6 million card users in Europe 400 retail and e-commerce partners 2,600 employees in 10 countries Oney Bank 9M-19 P&L2 €2.5bn €7.31bn of custome
Slide 11: Contents
CONTENTS 1 Results of Groupe BPCE 2 Capital and liquidity 3 Results of the business lines 4 Conclusion 11 RESULTS FOR THE 3RD QUARTER AND FIRST 9 MONTHS OF 2019
Slide 12: Capital and loss-absorbing capacity
CAPITAL AND LOSS-ABSORBING CAPACITY Increasing CET1 capital; CET1 and TLAC ratios at high levels Change in the CET1 ratio (in bps) Organic capital creation ≈ 2 bps 15.5%1 +21bps 15.5% Pro forma impact: +6bps +5bps 15.4%2 ʘ Acquisition of 50.1% of Oney Bank -19bps -10bps -12bps CET1 ratio Retained ea
Slide 13: Liquidity: 2019 funding plan already completed
LIQUIDITY 2019 medium-/long-term funding plan already completed; some prefunding for 2020 raised at end-October 2019 Structure of MLT funding as of October 31, 2019 2019 MLT funding plan of €20bn ʘ Unsecured segment: €13bn to €14bn Of which €3bn to €4bn of senior non-preferred debt Unsecured bond
Slide 14: Contents
CONTENTS 1 Results of Groupe BPCE 2 Capital and liquidity 3 Results of the business lines 4 Conclusion 14 RESULTS FOR THE 3RD QUARTER AND FIRST 9 MONTHS OF 2019
Slide 15: Retail Banking & Insurance 1/6
RETAIL BANKING & INSURANCE 1/6 Dynamic client activity Increase in revenues and positive jaws effect in 9M-19 Loan outstandings: €516bn, +7.6% YoY On-balance sheet deposits & savings1: o/w residential mortgages +8.1% YoY €454bn, +8.1% YoY o/w consumer loans +7.2%YoY o/w equipment loans +6.9% YoY o/w
Slide 16: Banque Populaire network
RETAIL BANKING & INSURANCE 2/6 Robust NBI; income before tax1,2 +4.4% in 9M-19 Customer base Loan outstandings in €bn Deposits & Savings +7.9% +7.3% 267 288 +2.5% YoY 221 Off-balance sheet D&S 74 77 +97,100 Centralized regulated savings 11 13 206 +9.3% On-balance sheet D&S, excluding centralized ite
Slide 17: Caisse d'Epargne network
RETAIL BANKING & INSURANCE 3/6 Caisse d’Epargn GOI1 +2.7% in 9M-19 driven by strict expense control Customer base Loan outstandings in €bn Deposits & Savings +4.9% +7.9% 418 438 +1.0% YoY Off-balance sheet D&S 136 139 286 +66,100 Centralized regulated savings 57 57 265 +7.5% On-balance sheet D&S, ex
Slide 18: Financial Solutions & Expertise
RETAIL BANKING & INSURANCE 4/6 Financial Solutions & Expertise – business dynamism and solid revenue base Breakdown of revenues per business line Business activities in 9M-19 ʘ Consumer credit: loan outstandings +8% YoY Consumer credit Progressive ramp-up of the loan restructuration offer distribute
Slide 19: Insurance: continued strong momentum
RETAIL BANKING & INSURANCE 5/6 Scope: Insurance division of Natixis Insurance – continued strong momentum with +8% GOI growth Business activities Premiums1 in €bn Life insurance AuMs1 Life1 and Personal protection insurance 66.5 ʘ Total AuMs at €66.5bn at end-September 2019 9.3 9.5 59.9 +3% 25% €4.5
Slide 20: Payments: continued double-digit GOI growth
RETAIL BANKING & INSURANCE 6/6 Scope: Payments division of Natixis Payments – continued double-digit GOI growth with positive jaws effect Net revenues: +9.5% YoY, driven by all payments activities ʘ Payment Processing & Services: steady +5% YoY in 9M-19 revenue growth in Natixis Payments’ historical
Slide 21: Asset & Wealth Management
ASSET & WEALTH MANAGEMENT Net revenue and AuM growth in Asset management, in both Europe and North America Asset Management: Asset management: net flows on LT products reached ~€(4)bn in Q3-19 Assets under management1 (in €bn) more than offset by supportive market and FX impacts Controlled affiliate
Slide 22: Corporate & Investment Banking
CORPORATE & INVESTMENT BANKING Good performance with strong Global finance A diversified revenue mix Net revenues1 (in €m) Net revenues: +3.2% in Q3-19 2,640 Change Global markets: +3% in Q3-19; 9M-19 FICT and equity revenue evolutions 2,437 Q/Q 246 768 794 reflecting a high comparison base, especia
Slide 23: Contents
CONTENTS 1 Results of Groupe BPCE 2 Capital and liquidity 3 Results of the business lines 4 Conclusion 23 RESULTS FOR THE 3RD QUARTER AND FIRST 9 MONTHS OF 2019
Slide 24: Conclusion
CONCLUSION Solid revenue base: revenues +0.9% in 9M-19 in Retail banking & Insurance in a low interest rate environment revenues +12.4% in Q3-19 in AWM; better trend in CIB in Q3-19, with revenues +3.2% Strict cost control: -0.5% on a reported basis in 9M-19 -0.2%1 on an underlying basis in 9M-19 St
Slide 25: Annexes
RESULTS FOR THE 3RD QUARTER AND FIRST 9 MONTHS OF 2019 ANNEXES FEBRUARY 12, NOVEMBER 7, 2019 2019
Slide 26: Contents
ANNEXES Contents Organizational structure of Groupe BPCE Retail Banking & Insurance ʘ Income statement and quarterly series Consolidated results of Groupe BPCE ʘ Banque Populaire and Caisse d’Epargne – ʘ Note on methodology quarterly series ʘ Income statement: reconciliation of alternative performan
Slide 27: Organizational structure of Groupe BPCE
ANNEXES Organizational structure of Groupe BPCE at September 30, 2019 9 MILLION COOPERATIVE SHAREHOLDERS 100% 100% (3) FNBP(1) FNCE(2) 50% 50% 14 BANQUES POPULAIRES 15 CAISSES D’EPARGNE BPCE 100% 71% (5) SUBSIDIARIES (4) NATIXIS (1) Fédération Nationale des Banques Populaires (2) Fédération National
Slide 28: Note on methodology (1/4)
ANNEXES Note on methodology (1/4) Presentation of the pro-forma quarterly results Exceptional items ʘ The segment information has been modified as of Q1-19 reflecting ʘ The exceptional items and the reconciliation of the restated the strategic project: income statement to the income statement report
Slide 29: Note on methodology (2/4)
ANNEXES Note on methodology (2/4) Net banking income Business line performance presented using Basel 3 standards ʘ Customer net interest income, excluding regulated home savings schemes, is computed on the basis of interest earned from ʘ The accounting ROE of Groupe BPCE is the ratio between the tra
Slide 30: Note on methodology (3/4)
ANNEXES Note on methodology (3/4) Capital adequacy ʘ Common Equity Tier 1 is determined in accordance with the ʘ This amount is comprised of the following 4 items: applicable CRR/CRD IV rules, after deduction, following the Common Equity Tier 1 in accordance with the applicable instructions of the
Slide 31: Note on methodology (4/4)
ANNEXES Note on methodology (4/4) Liquidity Loan outstandings and Deposits & Savings ʘ Total liquidity reserves comprise the following: ʘ Restatements regarding transitions from book outstandings to Central bank-eligible assets include: ECB-eligible securities outstandings under management are as
Slide 32: 9M-19 results: reconciliation of alternative performance measures
ANNEXES 9M-19 results: reconciliation of alternative performance measures to reported data Share in Gains or Net income income of Net banking Operating losses on Income attributable to Cost of risk equity- Goodwill income expenses other before tax equity holders accounted assets of the parent associ
Slide 33: 9M-18 pf results: reconciliation of alternative performance measures
ANNEXES 9M-18 pf results: reconciliation of alternative performance measures to reported data Gains or losses Net income Net banking Operating on other Income attributable to Cost of risk income expenses assets before tax equity holders of the parent in millions of euros 9M-18 pf results 18,157 (13,
Slide 34: Q3-19 results: reconciliation of alternative performance measures
ANNEXES Q3-19 results: reconciliation of alternative performance measures to reported data Net income Gains or losses Net banking Operating Income attributable to on other income expenses before tax equity holders assets of the parent in millions of euros Q3-19 results 5,935 (4,136) 6 1,545 943 Reva
Slide 35: Q3-18 pf results: reconciliation of alternative performance measures
ANNEXES Q3-18 pf results: reconciliation of alternative performance measures to reported data Net income Net banking Operating Income attributable to Cost of risk income expenses before tax equity holders of the parent in millions of euros Q3-18 pf results 5,906 (4,225) (327) 1,414 815 Revaluation o
Slide 36: Reconciliation of reported to pro-forma data (1/5)
ANNEXES Reconciliation of reported consolidated data to pro-forma data (1/5) Corporate & Investment Retail Banking & Insurance Asset & Wealth Management Corporate center Groupe BPCE Banking Creation Creation Creation Creation Creation Q1-18 CFF BPCE I Q1-18 Q1-18 Q1-18 CFF BPCE I Q1-18 in millions o
Slide 37: Reconciliation of reported to pro-forma data (2/5)
ANNEXES Reconciliation of reported consolidated data to pro-forma data (2/5) Corporate & Investment Retail Banking & Insurance Asset & Wealth Management Corporate center Groupe BPCE Banking Creation Creation Creation Creation Creation Q2-18 CFF BPCE I Q2-18 Q2-18 Q2-18 CFF BPCE I Q2-18 in millions o
Slide 38: Reconciliation of reported to pro-forma data (3/5)
ANNEXES Reconciliation of reported consolidated data to pro-forma data (3/5) Corporate & Investment Retail Banking & Insurance Asset & Wealth Management Corporate center Groupe BPCE Banking Creation Creation Creation Creation Creation Q3-18 CFF BPCE I Q3-18 Q3-18 Q3-18 CFF BPCE I Q3-18 in millions o
Slide 39: Reconciliation of reported to pro-forma data (4/5)
ANNEXES Reconciliation of reported consolidated data to pro-forma data (4/5) Corporate & Investment Retail Banking & Insurance Asset & Wealth Management Corporate center Groupe BPCE Banking Creation Creation Creation Creation Creation Q4-18 CFF BPCE I Q4-18 Q4-18 Q4-18 CFF BPCE I Q4-18 in millions o
Slide 40: Reconciliation of reported to pro-forma data (5/5)
ANNEXES Reconciliation of reported consolidated data to pro-forma data (5/5) Corporate & Investment Retail Banking & Insurance Asset & Wealth Management Corporate center Groupe BPCE Banking Creation Creation Creation Creation Creation 2018 CFF BPCE I 2018 2018 2018 CFF BPCE I 2018 in millions of eur
Slide 41: Exceptional items and IFRIC 21 effects: 9M-19 vs. 9M-18 pf
ANNEXES Exceptional items and IFRIC 21 effects per business line: 9M-19 vs. 9M-18 pf 9M-19 Retail Banking Corporate Groupe AWM CIB in €m & Insurance center BPCE Impact of exceptional items (119) (7) (30) (262) (418) Impact of IFRIC 21 (27) (1) (8) (95) (131) Total impact on Income before tax (146) (
Slide 42: Exceptional items and IFRIC 21 effects: Q3-19 vs. Q3-18 pf
ANNEXES Exceptional items and IFRIC 21 effects per business line: Q3-19 vs. Q3-18 pf Q3-19 Retail Banking Corporate Groupe AWM CIB in €m & Insurance center BPCE Impact of exceptional items (46) (2) (9) (25) (81) Impact of IFRIC 21 26 1 8 96 131 Total impact on Income before tax (20) (1) (1) 71 50 Ba
Slide 43: 9-months income statement per business line
ANNEXES Groupe BPCE: 9-months income statement per business line Corporate & Investment Retail Banking & Insurance Asset & Wealth Management Corporate center Groupe BPCE Banking in millions of euros 9M-19 9M-18 pf 9M-19 9M-18 pf 9M-19 9M-18 pf 9M-19 9M-18 pf 9M-19 9M-18 pf % Net banking income 12,14
Slide 44: Quarterly income statement per business line
ANNEXES Groupe BPCE: quarterly income statement per business line Corporate & Investment Retail Banking & Insurance Asset & Wealth Management Corporate center Groupe BPCE Banking in millions of euros Q3-19 Q3-18 pf Q3-19 Q3-18 pf Q3-19 Q3-18 pf Q3-19 Q3-18 pf Q3-19 Q3-18 pf % Net banking income 3,97
Slide 45: Groupe BPCE: quarterly series
ANNEXES Groupe BPCE: quarterly series Groupe BPCE in millions of euros Q1-18 pf Q2-18 pf Q3-18 pf 9M-18 pf Q4-18 pf 2018 pf Q1-19 pf Q2-19 Q3-19 9M-19 Net banking income 6,010 6,241 5,906 18,157 5,844 24,001 5,953 6,116 5,935 18,004 Operating expenses (4,606) (4,235) (4,225) (13,066) (4,621) (17,687
Slide 46: Consolidated balance sheet
ANNEXES Consolidated balance sheet ASSETS (in €m) Sept. 30, 2019 Dec. 31, 2018 LIABILITIES (in €m) Sept. 30, 2019 Dec. 31, 2018 Cash and amounts due from central banks 103,425 76,458 Amounts due to central banks 0 9 Financial assets at fair value through profit or loss 229,926 200,516 Financial liab
Slide 47: Statement of changes in shareholders' equity
ANNEXES Statement of changes in shareholders' equity Equity attributable to equity holders of the parent In millions of euros December 31, 2018 66,194 Distributions (375) Capital increase (cooperative shares) 1,060 Remuneration of super-subordinated notes (TSSDI) (72) Redemption of super-subordinate
Slide 48: 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 capital1 Regulatory capital1 (in €bn) Sept. 30, 2019 Dec. 31, 20182 75.4 78.8 In billions of euros 14.5 14.2 0.3 Tier-2 capital Equity attributable to equity holders of
Slide 49: Prudential ratios and credit ratings
ANNEXES Financial structure: prudential ratios and credit ratings Sept. 30, 20191,2 Dec. 31, 20183 Dec. 31, 20173 LONG-TERM SENIOR PREFERRED CREDIT RATINGS (NOVEMBER 7, 2019) Total risk-weighted assets €416bn €392bn €386bn A+ outlook stable Common Equity Tier-1 capital €64.6bn €62.2bn €59.0bn Tier-1
Slide 50: SREP capital requirement
ANNEXES SREP Capital requirement / SREP 2018 (as a %) Pillar 2 Requirement 2019 Countercyclical buffer 19.0% 2019 G-SIB buffer Total surplus of 548 bps 2019 capital conservation buffer Tier 2 3.4 Tier 2 surplus of Pillar 1 141 bps 13.48% CET1 surplus of 2.00 407 bps Tier 2 0.01 1.49 Additional Tier
Slide 51: Risk-weighted assets
ANNEXES Risk-weighted assets Breakdown per business line (in €bn) Breakdown per type of risk1 (in €bn) (at current exchange rates) 416 416 392 Other 392 8% 9% 8% 10% 3% 15% 3% 15% 3% Corporate & 3% Investment Banking Operational risk Asset & Wealth 88% Market risk 87% 74% 74% Management Credit risk
Slide 52: Leverage ratio
ANNEXES Leverage ratio1 Sept.30, 2019 Dec. 31, 2018 In billions of euros Tier-1 capital 64.6 62.3 Deduction of irrevocable payment commitments - (0.6) Tier 1 capital restated3 64.6 61.7 Balance sheet total 1,381.7 1,273.9 Prudential restatements (114.0) (104.9) Prudential balance sheet total2 1,267.
Slide 53: Financial conglomerate
ANNEXES Financial conglomerate CRR/CRD IV2 Restatements Financial viewpoint conglomerate viewpoint Financial conglomerate ratio +0.2 Banking CR1 Total capital (CRR/CRD IV) (in €bn) 78.8 78,8 79 79 79.0 Regulatory + capital > Insurance CR1 (Solvency 2) 1 2 3 - Restatements applied 57.6 +4.6 1 shift f
Slide 54: Liquidity reserves and short-term funding
ANNEXES Liquidity reserves and short-term funding Total liquidity reserves of Groupe BPCE1 Short-term funding and MLT debt maturing (in €bn) in the short term (in €bn) 160% 165% 157% 245 217 203 89 78 21 67 19 20 120 127 72 107 62 62 Sept. 30, 2018 Dec. 31, 2018 Sept. 30, 2019 78 74 84 ST MLT Covera
Slide 55: Retail Banking & Insurance: 9-months income statement
ANNEXES Retail Banking & Insurance: 9-months income statement Banque Populaire Caisse d'Epargne Financial Solutions & Retail Banking & Insurance Payments Other networks network network Expertise Insurance in millions of euros 9M-19 9M-18 pf % 9M-19 9M-18 pf % 9M-19 9M-18 pf % 9M-19 9M-18 pf % 9M-19
Slide 56: Retail Banking & Insurance: quarterly income statement
ANNEXES Retail Banking & Insurance: quarterly income statement Banque Populaire Caisse d'Epargne Financial Solutions & Retail Banking & Insurance Payments Other networks network network Expertise Insurance in millions of euros Q3-19 Q3-18 pf % Q3-19 Q3-18 pf % Q3-19 Q3-18 pf % Q3-19 Q3-18 pf % Q3-19
Slide 57: Retail Banking & Insurance: quarterly series
ANNEXES Retail Banking & Insurance: quarterly series Retail Banking & Insurance in millions of euros Q1-18 pf Q2-18 pf Q3-18 pf 9M-18 pf Q4-18 pf 2018 pf Q1-19 pf Q2-19 pf Q3-19 9M-19 Net banking income 3,977 4,080 3,975 12,032 4,024 16,056 4,070 4,099 3,972 12,141 Operating expenses (2,765) (2,667)
Slide 58: 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 in millions of euros Q1-18 pf Q2-18 pf Q3-18 pf 9M-18 pf Q4-18 pf 2018 pf Q1-19 Q2-19 Q3-19 9M-19 Net banking income 1,586 1,641 1,559 4,787 1,590 6,377 1,618 1,626 1,568 4,81
Slide 59: Retail Banking & Insurance: deposits & savings and loans
ANNEXES Retail Banking & Insurance Deposits & Savings (in €bn) Loan outstandings (in €bn) Change YoY Change YoY 743.8 702.0 +6.0% +7.6% 188.0 +13.3% Sight deposits 166.0 515.9 479.4 +4.2% Passbook savings +8.1% Home loans accounts 179.2 186.7 +1.9% Regulated home 305.1 Consumer loans savings plans 2
Slide 60: Banque Populaire network: deposits & savings and loans
ANNEXES Retail Banking & Insurance: Banque Populaire network Deposits & Savings (in €bn) Loan outstandings (in €bn) Change YoY Change YoY +7.9% +7.3% 288.4 267.3 220.8 +11.4% Sight deposits 205.7 95.7 +8.8% Home loans 86.0 +7.4% Passbook savings accounts 127.8 117.5 +8.4% Consumer loans 55.8 +2.9% R
Slide 61: Caisse d'Epargne network: deposits & savings and loans
ANNEXES Retail Banking & Insurance: Caisse d’Epargne network Deposits & Savings (in €bn) Loan outstandings (in €bn) Change YoY Change YoY 438.3 +4.9% 418.0 +7.9% 84.6 +16.0% Sight deposits 72.9 285.6 264.7 +2.8% Passbook savings accounts 126.5 130.0 Home loans +7.6% +1.5% Regulated home 175.3 saving
Slide 62: FSE quarterly series
ANNEXES Retail Banking & Insurance: FSE quarterly series Financial Solutions & Expertise in millions of euros Q1-18 pf Q2-18 pf Q3-18 pf 9M-18 pf Q4-18 pf 2018 pf Q1-19 pf Q2-19 Q3-19 9M-19 Net banking income 268 273 270 811 278 1,089 272 279 268 819 Operating expenses (153) (151) (150) (455) (163)
Slide 63: Insurance quarterly series
ANNEXES Retail Banking & Insurance: Insurance quarterly series Insurance in millions of euros Q1-18 pf Q2-18 pf Q3-18 pf 9M-18 pf Q4-18 pf 2018 pf Q1-19 Q2-19 Q3-19 9M-19 Net banking income 204 193 192 589 201 790 218 207 205 630 Operating expenses (118) (108) (103) (330) (118) (448) (125) (116) (11
Slide 64: Payments quarterly series
ANNEXES Retail Banking & Insurance: Payments quarterly series Payments in millions of euros Q1-18 pf Q2-18 pf Q3-18 pf 9M-18 pf Q4-18 pf 2018 pf Q1-19 Q2-19 Q3-19 9M-19 Net banking income 93 95 96 284 105 389 103 105 103 311 Operating expenses (79) (88) (84) (251) (90) (341) (88) (94) (93) (274) Gro
Slide 65: Other networks quarterly series
ANNEXES Retail Banking & Insurance: Other networks quarterly series Other networks in millions of euros Q1-18 pf Q2-18 pf Q3-18 pf 9M-18 pf Q4-18 pf 2018 pf Q1-19 pf Q2-19 pf Q3-19 9M-19 Net banking income 82 81 84 247 85 332 81 81 84 247 Operating expenses (57) (63) (54) (174) (75) (250) (58) (64)
Slide 66: Asset & Wealth Management: quarterly series
ANNEXES Asset & Wealth Management: quarterly series Asset & Wealth Management in millions of euros Q1-18 pf Q2-18 pf Q3-18 pf 9M-18 pf Q4-18 pf 2018 pf Q1-19 Q2-19 Q3-19 9M-19 Net banking income 799 842 841 2,482 1,032 3,513 773 932 945 2 651 Operating expenses (548) (569) (584) (1,701) (642) (2,343
Slide 67: Corporate & Investment Banking: quarterly series
ANNEXES Corporate & Investment Banking: quarterly series Corporate & Investment Banking in millions of euros Q1-18 pf Q2-18 pf Q3-18 pf 9M-18 pf Q4-18 pf 2018 pf Q1-19 Q2-19 Q3-19 9M-19 Net banking income 944 976 828 2,748 518 3,266 807 847 784 2,438 Operating expenses (566) (551) (525) (1,643) (559
Slide 68: Corporate center: quarterly series
ANNEXES Corporate center: quarterly series Corporate Center in millions of euros Q1-18 pf Q2-18 pf Q3-18 pf 9M-18 pf Q4-18 pf 2018 pf Q1-19 pf Q2-19 pf Q3-19 9M-19 Net banking income 290 344 263 896 269 1,166 302 239 234 775 Operating expenses (726) (449) (559) (1,734) (605) (2,339) (852) (361) (365
Slide 69: Non-performing loans and impairment
ANNEXES Non-performing loans and impairment September June 30, March 31, Dec. 31, 30, 2019 2019 2019 2018 In billions of euros Gross outstanding loans to customers and credit 793.9 782.6 774.0 763.1 institutions O/w S3 outstandings 21.2 21.0 21.2 21.5 Non-performing/gross outstanding loans 2.7% 2.7%
Slide 70: Breakdown of gross exposure at September 30, 2019
ANNEXES Breakdown of gross exposure at September 30, 20191 Breakdown per counterparty Breakdown per geographical region 5% Financial institutions/local Central administrations/Central banks and 28% governments other sovereign exposures 8% 5% 1% 9% 4% 1% 11% 7% 5% €1,222bn 14% 15% 7% 31% 46% 1% 70% 3
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