News and Press releases

09/05/2017

Results for the first quarter of 2017 of Groupe BPCE

Good performance achieved by all the business lines in the first quarter of 2017. Attributable net income(1) of €948m(2), up by 8.2%

EXCELLENT LEVEL OF ACTIVITY ACHIEVED BY THE BUSINESS LINES

Retail Banking: strong lending activities

  • Strong new loan production in Q1-17: €33bn
  • Increase in loan outstandings equal to 4.5% year-on-year

Continued momentum in Insurance

  • Natixis life insurance offering rolled out in the CE network: new inflows of life funds equal to €1.9bn in Q1-17 (x3 year-on-year)
  • Portfolio of non-life(3)  contracts: +9% year-on-year

Asset management: return to positive inflows in the USA

Corporate & Investment Banking: greater momentum enjoyed by Global markets and increased contribution from the international platforms

INCOME BEFORE TAX UP BY 11.6%(4)  YEAR-ON-YEAR

Resilient performance achieved by Retail Banking

  • BIncome before tax of €1.1bn(2), representing a limited 4.1% decline; net banking income has stood up well and operating expenses kept under close management

Sharp increase in the CIB division’s contribution to income before tax: +81.4%, to €422m(2)

Gross operating income(4): +11.9% year-on-year (despite the higher contribution to the SRF)

Cost of risk stable at 22bp, lower than the business cycle average (30 to 35bp)

OPERATIONAL EXCELLENCE

Operating expenses down in the retail banking networks: if transformation expenses are excluded, the cost base changed as follows: Banque Populaire network  -0.1% and Caisse d’Epargne network -1.7%

Mergers: 31 regional banks in May 2017 vs. 35 one year ago

  • 2 mergers in 2016 and 1 merger finalized in early May 2017
  • Plans for a new merger announced in March 2017

TLAC RATIO ALREADY MEETS 2019 REQUIREMENTS

CET1 ratio of 14.4%(5) , up 10bp in Q1-17

TLAC ratio of 19.7%(5)

 

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(1) Q1-16 pro forma (cf. the note on methodology at the end of this press release) ; unless specified to the contrary, all changes use thesame reference base of March 31, 2016
(2) Excluding non-economic and exceptional items and after restating to account for the impact of IFRIC 21
(3) Entities included: CNP Assurances, Natixis Assurances, Prépar vie (gross inflows from the Banque Populaire and Caisse d'Epargne retail banking networks)
(4) Excluding non-economic and exceptional items
(5)Estimate at March 31, 2017 - CRR/CRD  IV without transitional measures (except for deferred tax assets on tax loss carryforwards); additional Tier-1 capital takes account of subordinated debt issues that have become ineligible and capped at the phase-out rate in force