Results for the 1st quarter of 2014 of the Groupe BPCE

May 6, 2014

Groupe BPCE : results for the 1st quarter of 2014

Robust commercial and financial performance

  • Robust financial performance
    • Revenues generated by the core business lines[1]5.5 billion euros, +3.7% compared with the 1st quarter of 2013
    • Net income attributable to equity holders of the parent[2]866 million euros, +16.1% compared with the 1st quarter of 2013
  • Continued low risk profile
    • Moderate cost of risk at 29 basis points in the 1st quarter of 2014, against 33 basis points in the 1st quarter of 2013 and 38 basis points in the 4th quarter of 2013
  • Significant improvement in capital adequacy in the 1st quarter of 2014
    • Common Equity Tier-1 ratio[3]10.8%, i.e. +40 basis points compared with December 31, 2013
    • Overall capital adequacy ratio3;[4] 13.8% i.e. +40 basis points compared with December 31, 2013
  • The banks in Groupe BPCE confirm their active role in helping to fund the economy
    • Growth in loan outstandings: +4.8%[5] year-on-year
    • Support for micro-companies and SMEs: loan outstandings up 2.1%[6] year-on-year

[1] Commercial Banking & Insurance, Wholesale Banking, Investment Solutions and Specialized Financial Services

[2] Pro-forma results to account for the transfer of BPCE Assurances to Natixis and Q1-13 basis of comparison presented pro forma to reflect the buyback (and subsequent cancellation) by the Banque Populaire banks and Caisses d’Epargne of the Cooperative Investment Certificates (CICs) held by Natixis, excluding the revaluation of own debt

[3] Estimate at March 31, 2014 – CRR/CRDIV, as applied by Groupe BPCE without transitional measures and after restating to account for deferred tax assets

[4] Including the £750 million Tier-2 issue completed on April 9, 2014

[5] Banque Populaire and Caisse d’Epargne retail banking networks; Banque Palatine, Crédit Foncier

[6] Source: Banque de France, figures for end-February 2014