Results for full-year 2015

February 10, 2016

4th Quarter and Full-year 2015 results of Groupe BPCE

Solid results showing clear progress in 2015: published net income attributable to equity holders of the parent up 11.6% to €3.2bn

(Q4 and full-year 2014 figures are presented pro forma (cf. the note on methodology at the end of this press release); unless specified to the contrary, all changes are  vs. Dec. 31, 2014)

Core business lines[1] perform well despite the uncertain economic environment

Banque Populaire and Caisse d’Epargne retail banking networks

  • Deposits & savings up 3.9% year-on-year to reach €628bn as at Dec. 31, 2015
    (+€28bn in on-balance sheet deposits & savings, excluding centralized savings products,
    equal to growth of +8.4%)
  • Loan outstandings up 4.2% year-on-year, to €397bn (+€16bn) as at Dec. 31, 2015

Insurance[2]

  • Strong sales momentum in life insurance with gross new inflows up 10% compared with 2014
    and an increase in the proportion of unit-linked contracts (17.8% vs 15.1% in 2014)
  • Buoyant growth in portfolios of non-life insurance contracts: +11% vs. end-2014

 

Core business lines of Natixis

  • Investment Solutions: record-breaking year for asset management with net inflows of €33bn in 2015, after €28bn in 2014
  • Wholesale Banking: growth in the principal franchises driven by international activities and by the originate-to-distribute model; launch of exclusive negotiations with a view to acquiring a majority equity interest in Peter J.Solomon (an investment banking advisory firm specializing in mergers & acquisitions in the US)
  • Specialized Financial Services: product/service offering rolled out in the retail banking networks with new production in personal loans up 17% and the amount of home loans granted to individual customers covered by guarantees up 72%

The Group achieved a robust financial performance[3] in 2015

  • Revenus up 4.5%, rising to €23.8bn; increased revenues posted by all core business lines
  • Cost/income ratio down 0.7pt to 67.7%
  • Cost of risk stable at a moderate level at 29bps in 2015
  • Sharp growth in income before tax: +9.7% year-on-year, rising to €6.3bn

An extremely robust balance sheet, demonstrating the Group’s adaptability

  • Common Equity Tier-1[4] ratio (CET1): 13.2% as at Dec. 31, 2015 (+120bps vs. Dec. 31, 2014)

Total capital ratio5 equal to 17.0% (+140bps vs. Dec. 31, 2014)


[1] Core business lines: Commercial Banking & Insurance, Investment Solutions, Wholesale Banking, and Specialized Financial Services

[2] Entities included in the scope: CNP Assurances, Natixis Assurances, Prépar Vie (gross new inflows and funds of the BP and CE networks)

[3] Excluding non-economic and exceptional items

[4] Estimate at Dec. 31, 2015 – CRR/CRD 4 without transitional measures after restating to account for deferred tax assets on tax loss carryforwards

Contact

Assets