Full-year results 2018

 

Full-year results 2018

 

Laurent Mignon, Chairman of the Management Board and CEO of Groupe BPCE, made the following statement:“Groupe BPCE delivered a solid performance thanks to its business model as a universal cooperative bank, and it did so despite economic uncertainties and difficult market conditions. The revenues generated by our retail banking businesses are on a positive trend thanks to the commercial dynamism of our two major Banque Populaire and Caisse d’Epargne networks and to the buoyant growth of our Insurance, Specialized Financial Services and Payments activities. Our Asset & Wealth Management businesses are making strong progress while our Corporate & Investment Banking division, whose market activities were adversely impacted in the fourth quarter of the year, enjoyed steady growth in its financing and M&A activities.

The pace of the transformation for our banks and the group as a whole has also increased considerably. With major growth in our customers’ use of our range of mobile solutions. We are implementing, in accordance with our predetermined timetable, all the strategic operations designed to reinforce the development of our retail banking activities. We are also taking today a major step in our development in Europe with the project to acquire from Auchan Holding a 50.1% stake in Oney Bank with which we will be forging a long-term partnership which will allow us to develop a digital offer for our customers.

Today, Groupe BPCE enjoys a robust financial position and, despite the more challenging business environment, it has already achieved key objectives of its TEC 2020 strategic plan. Furthermore, Natixis, whose business lines are enjoying steady growth and good levels of profitability, has confirmed the goals of its New Dimension strategic plan.

Thanks to its deep historical roots, the expertise of its teams, its well-known brands, its strong local presence, and the diversity of its business activities, Groupe BPCE will continue to contribute actively to the development of the French economy.”