Results for the 2nd quarter and 1st half of 2016 of Groupe BPCE

July 28, 2016

Attributable net income of €1.9bn [1] [2]  in the first half of 2016, up 12%.
Sharp decline in the cost of risk



Buoyant commercial activity

Strong momentum in the Banque Populaire and Caisse d’Epargne retail banking networks

  • Growth in loan outstandings (4.7%) and deposits & savings (2.3%) compared with June 30, 2015

  • Loans to corporate customers enjoyed a 29% growth in new production vs. H1-15

Rollout of Insurance solutions [3]

  • Strong momentum in life insurance with gross net inflows up 18% compared with H1-15

  • Portfolios of non-life insurance contracts up by 10% compared with H1-15

Core business lines of Natixis

  • Strong recovery in activities in Q2-16 vs. Q1-16 thanks to a well-balanced business model maintaining the earning capacity of the core business lines 

A resilient business model

Commercial momentum making it possible to limit the decline in core business line revenues (-1.9%) [4]

  • Retail banking net interest income remains impacted by prevailing low interest rates

  • The revenues posted by the core business lines of Natixis increased by 1% in the first half of 2016, driven by the capital market, insurance and specialized financing activities

20.2% decline in the cost of risk [5]

Impact of a major exceptional item on The second quarter of 2016

  • Positive €797m impact  securities on attributable net income Continued strengthening of the financial STRUCTURE

  • Common Equity Tier-1 (or CET1 [6] ) ratio of 13,7% at June 30, 2016

  • Total capital ratio [6] of 17.8% at June 30, 2016

  • The Liquidity Coverage Ratio (LCR) is greater than 110%

Acceleration of the digital strategy

  • Appointment of Yves Tyrode to the position of Chief Digital Officer (CDO) of Groupe BPCE

  • First banking group in the euro zone to offer the Apple Pay solution to the customers of its two retail banking networks

  • Acquisition of Fidor Group, a unique approach combining a digital bank and infrastructure


(1) - H1-15 and Q1-15 are presented pro forma (cf. the note on methodology at the end of this press release); unless specified to the contrary, all changes use the same reference base of June 30, 2015

(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) Core business lines: Commercial Banking & Insurance, Investment Solutions, Corporate & Investment Banking, and Specialized Financial Services

(5) Excluding non-economic and exceptional items

(6) Estimate at June 30, 2016 – CRR/CRD4 without transitional measures (except for deferred tax assets on tax loss carryforwards and pro forma of the additional phase-in of the stock of DTA in accordance with regulation 2016/445); additional Tier-1 capital takes account of subordinated debt issues that have become ineligible and capped at the phase-out rate in force


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