Q3-19 and 9M-19 results

    Growth in the reported net income of Groupe BPCE in Q3-19:
 €943m, up by 18.5%

Good underlying1 performance of our businesses in Q3-19:
revenues increased by 1.5% and net income by 3.6%

                 Revenues almost stable in 9M-19: net banking income at €18bn (-0.5%)
and underlying1 net income at €2.7bn (-5.8%)


Retail Banking & Insurance: revenues stable in Q3-19 at €4.0bn in a low interest-rate environment

  • Loan outstandings and on-balance sheet deposits & savings2 up by +7.6% and +8.1% respectively year-on-year
  • Positive jaws effects in 9M-19
  • Continued growth in Insurance and Payments as reflected by the substantial increase in income before tax1 of +8.0% and +11.0% respectively in 9M-19


Successful roll-out of our “Digital Inside” strategy

  • Banque Populaire and Caisse d’Epargne are digital best-in-class: #1 among traditional banks in the D-rating ranking for the level of use and performance of retail banks’ digital channels


Asset & Wealth Management: net revenues up by 12.4% in Q3-19 and AuM growth both in Europe and North America

  • Income before tax1 up by +12.3% in Q3-19 and by +7% in 9M-19


Corporate & Investment Banking: good performance in Q3-19 with strong momentum in Global finance

  • Net revenues up by 3.2%, expenses down by 0.6% vs. Q3-18


Cost of risk low at 18bps in 9M-19


Solvency at high levels

  • CET13 at 15.4% and TLAC3 ratio at 23.0% at September 30, 2019


Strategic projects: operations completed in line with the initial timetable

  • Acquisition of a 50.1% interest in Oney Bank finalized
  • Disposal of banking interests in Africa4


Laurent Mignon, Chairman of the Management Board of Groupe BPCE, made the following statement:

“All our business lines recorded a robust performance in the 3rd quarter of 2019, with very strong commercial momentum achieved in Retail Banking & Insurance, a sharp rise in revenues and assets under management in Asset & Wealth Management, and good results growth in our Corporate & Investment Banking division, notably in our Global Finance business. At the same time, we are continuing to take active measures to control our expenses and optimize our organizational structures, whose effects are having a positive impact on our accounts. We also made progress in several strategic areas this quarter, with the finalization of the acquisition of a majority stake in the capital of Oney Bank and the disposal of retail banking interests in Africa. Finally, the “Digital Inside” strategy rolled out over the past year by Groupe BPCE, which makes customer advisors the principal players in the deployment of digital services to our clientele, is a success, with the digital rating agency D-rating placing the Banque Populaire banks and Caisses d'Epargne at the top of the list of so-called ‘traditional banks’ in terms of the level of use and performance of their digital channels.”


[1] See notes on methodology and excluding IFRIC 21 2 Excluding centralized regulated savings 3 Estimated - pro-forma impacts on page 4 4 Except for Tunisia, where the regulatory approval is still under process





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