News and Press releases

06/08/2013

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Groupe BPCE : Results for the 2nd quarter and the 1st half of 2013

Groupe BPCE: robust results and strong commercial dynamics of the core business lines: 30.4% growth in net income excluding the revaluation of BPCE’s own debt in Q2-13

Regularity and strength of results (1):

  • Q2-13 net income attributable to equity holders of the parent, excluding the revaluation of BPCE’s own debt: €793 million +30.4% vs. Q2-12 and +6.2% versus Q1-13
  • H1-13 net income attributable to equity holders of the parent, excluding revaluation of BPCE’s own debt: €1,539 million in H1-13, +15.3% versus H1-12
  • Cost of risk marginally up owing to the economic climate but it remains at a moderate level (36bp in Q2-13 against 33bp in Q1-13)

Strong commercial dynamism:

  • Dynamic growth in revenues generated by the core businesses: +6.0%(1,2)  compared with Q2-12
  • Commercial Banking and Insurance: strong growth in outstandings, driven by the expansion of the customer base; on-balance sheet savings: +7.4%(3) , and loan outstandings: +5.7%(4)
  • Natixis: dynamism of Structured Finance and Specialized Financing; strong growth in revenues generated by Investment Solutions (+13% versus Q2-12)

Regular consolidation of the financial structure:

  • Common Equity Tier 1 under Bale 3 (1,5) : 9.5%, +20bp versus March 31, 2013
  • Leverage ratio under Basel 3 on the sole basis of the Common Equity Tier 1 already above 3% at June 30, 2013
  • Group’s loan to deposit ratio (6) : 125% (-8 percentage points versus June 30, 2012)
  • 2013 MLT funding requirements already satisfied

Simplified Group structure:

  • CIC buyback operation was completed on August 6, 2013 in line with the timetable drawn up when the operation was first launched

 

(1)  Pro forma to account for the buyback and subsequent cancellation by the Banque Populaire banks and the Caisses d’Epargne of the Cooperative Investment Certificates (CICs) held by Natixis
(2) Commercial Banking and Insurance, Wholesale Banking, Investment Solutions and Specialized Financial Services
(3)  Banque Populaire and Caisse d’Epargne retail networks; excluding centralized savings products
(4) Banque Populaire and Caisse d’Epargne retail networks
(5)Estimate at June 30, 2013, without transitional measures and after restatement for deferred tax assets and subject to the finalization of regulatory texts
(6) Excluding SCF (Compagnie de Financement Foncier, the Group’s mortgage bank)