Results of Groupe BPCE for the 3rd quarter and 1st nine months of 2016
Results [1] of Groupe BPCE for the 3rd quarter and 1st nine months of 2016 : In the first 9 months of 2016, net income attributable to equity holders of the parent stands at €2.8bn [2] , up 8.6%, with published net income attributable to equity holders of the parent of €3.4bn thanks to capital gains realized on the Visa Europe transaction
Commercial activity REMAINS BUOYANT
Strong momentum in the Banque Populaire and Caisse d’Epargne retail banking networks
- Increase in loan outstandings by 5.0% and in deposits & savings of 2.2% as of Sept. 30, 2016
- Production of new MLT loans to corporate customers rose by 18.1% compared with 9M-15
Development of Insurance businesses [3]
- Strong momentum in life insurance with gross inflows up by 16.9% compared with 9M-15
- Portfolio of non-life insurance contracts up by 9.7% year-on-year
Significant contribution from the Corporate & Investment Banking division of Natixis
- High level of business activity, with a very good performance achieved by the Fixed Income and Mergers & Acquisitions activities
Robust results thanks to our “UNIVERSAL bank” model
Decline in retail banking revenues offset by the good performance of the core business lines [4] of Natixis
- Net banking income [5] of the Group’s core business lines declined by 1.5% compared with 9M-15
- Low interest rates depressed the net interest income generated by retail banking activities
- 2.9% increase in the net banking income [6] of the core business lines of Natixis driven by CIB (+7.8%) vs. 9M-15
The Group’s cost of risk kept at a low level: 21 basis points in 9M-16
Net income attributable [2] to equity holders of the parent of the core business lines equal to €3.2bn, up by 4.4% vs. 9M-15
TOTAL CAPITAL RATIO TARGET ACHIEVED
- Fully-loaded total capital ratio of 18.2% [7], ahead of the early 2019 target of 18% [7]
- CET1 ratio of 14.0% [8] as of Sept. 30, 2016
- Generation of CET1 via retained earnings: +60bps since the beginning of 2016
PREPARATION OF GROUPE BPCE’S NEW STRATEGIC PLAN FOR 2018 – 2020
Transformation and Business Efficiency Project [9] of Natixis : €250m in cost savings by the end of 2019
Specialized Financial Services : creation of a business line bringing together within Natixis all payment platforms on behalf of Groupe BPCE
Groupe BPCE : presentation in early 2017 of the digital action plan, its new local banking relationship models, and the Group’s Transformation and Operational Excellence project.[1] 9M-15 and Q3-15 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 September 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] Excluding exceptional items
[7] CRR/CRD IV without transitional measures
[8] Estimate at Sept. 30, 2016 - CRR/CRD IV 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
[9] Plans will be subject to the consultation process with employee representatives
Linked topics
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
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[...]
Related links
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).
The press area was created by BPCE in order to make it easier for professionals to access Groupe BPCE press releases, images, videos, computer graphics, etc. (hereafter referred to collectively as the “Content”). This Content can be used to illustrate all publications, reports, articles or, more generally, any document or medium designed to inform the public of Groupe BPCE’s activity. You are not allowed to use the Content for commercial or publicity purposes. You are not allowed to modify the Content (except for changes of format). The Content is regularly updated by BPCE, therefore you should frequently access the press area in order to ensure you use the latest version of the Content. Your attention is also drawn to the fact that the Content contains elements considered to be intellectual works protected by copyright law and notably by France’s intellectual property code. Consequently, the photo credit (shown at the bottom right of the photo) and the mention [source BPCE] must be displayed in all publications (printed or electronic). Any user who fails to respect these conditions shall be liable vis-à-vis BPCE, the author of the Content or his/her beneficiaries and, where applicable, the persons whose image is reproduced in the Content. By downloading and, more generally, using all or part of the Content you agree to these terms.