Results for the 2nd quarter and 1st half of 2016 of Groupe BPCE
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
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Growth in loan outstandings (4.7%) and deposits & savings (2.3%) compared with June 30, 2015
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Loans to corporate customers enjoyed a 29% growth in new production vs. H1-15
Rollout of Insurance solutions [3]
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Strong momentum in life insurance with gross net inflows up 18% compared with H1-15
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Portfolios of non-life insurance contracts up by 10% compared with H1-15
Core business lines of Natixis
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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]
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Retail banking net interest income remains impacted by prevailing low interest rates
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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
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Positive €797m impact securities on attributable net income Continued strengthening of the financial STRUCTURE
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Common Equity Tier-1 (or CET1 [6] ) ratio of 13,7% at June 30, 2016
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Total capital ratio [6] of 17.8% at June 30, 2016
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The Liquidity Coverage Ratio (LCR) is greater than 110%
Acceleration of the digital strategy
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Appointment of Yves Tyrode to the position of Chief Digital Officer (CDO) of Groupe BPCE
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First banking group in the euro zone to offer the Apple Pay solution to the customers of its two retail banking networks
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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
Linked topics
Results for the first quarter of 2016 of Groupe BPCE
May 10, 2016
Good commercial performance against a background of low interest rates and adverse market conditions. Net income attributable to equity holders of the parent stable at €872m[...]
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 paren[...]
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About Groupe BPCE
Groupe BPCE is the second-largest banking group in France. Through its 100,000 staff, the group serves 35 million customers – individuals, professionals, companies, investors and local government bodies – around the world. It operates in the retail banking and insurance fields in France via its two major networks, Banque Populaire and Caisse d’Epargne, along with Banque Palatine and Oney. It also pursues its activities worldwide with the asset & wealth management services provided by Natixis Investment Managers and the wholesale banking expertise of Natixis Corporate & Investment Banking. The Group's financial strength is recognized by four credit rating agencies with the following senior preferred LT ratings: Moody's (A1, stable outlook), Standard & Poor's (A, stable outlook), Fitch (AA-, negative outlook) and R&I (A+, stable outlook).
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