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Groupe BPCE: results for the full year and 4th quarter of 2013

Robust performance achieved by Groupe BPCE, with a continuing moderate risk profile and significant improvement in capital adequacy

Very strong commercial dynamism of the core business lines (1)  

  • The revenues generated by the core business lines stand at 21.6 billion euros (2), up 4.6% compared with 2012
  • Commercial Banking and Insurance: revenues of 15.2 billion euros, up 3.9%(3) compared with 2012, remarkable achievement in a sluggish economic environment
    • On-balance sheet savings deposits up 9.9% (4) and growth in loan outstandings of +6.1% (5)
  • Core business lines of Natixis: revenues of 6.4 billion euros, up 5.0% compared with 2012
    • Extremely strong dynamism of key franchises

Robust 2013 results

  • Strong growth in 2013 net income (2,6) attributable to equity holders of the parent: 2.9 billion euros, up 26.2% compared with 2012
  • Cost/income ratio of the core business lines: 65.9%, down 2.3 points compared with 2012
  • Cost of risk kept at a moderate level in 2013: annual average of 35 basis points (-2 basis points compared with 2012)

Continuous, regular strengthening of the balance sheet

  • Common Equity Tier-1 ratio under Basel 3 (7): 10.4%, +150 basis points in 2013
  • Overall capital adequacy ratio under Basel 3 (7,8): 13.4%, +180 basis points in 2013
  • Leverage ratio under Basel 3 in excess of 3.6% (7)
  • Group’s customer loan-to-deposit ratio (9): -4 points in 2013 to 124%
  • MLT funding helping to achieve a 100% LCR in early 2015
  • 32.2 (10) billion euros raised in the 2013 MLT funding plan (153%) for the Group as a whole; 7.1 billion euros raised as of February 5, 2014 in the BPCE MLT funding pool (28% of the 2014 funding plan)


[1] Commercial Banking and Insurance, Wholesale Banking, Investment Solutions and Specialized Financial Services
[2] Results pro forma of the buyback and subsequent cancellation by the Banque Populaire banks and the Caisses d’Epargne of the Cooperative Investment Certificates (CICs) held by Natixis
[3] Excluding changes in provisions for home purchase savings schemes
[4] Banque Populaire and Caisse d’Epargne networks, excluding centralized savings products
[5] Banque Populaire and Caisse d’Epargne retail networks
[6] Excluding the revaluation of own debt
[7]  Estimate at Dec. 31, 2013 – CRR/CRD IV, as applied by Groupe BPCE; without transitional measures and after restatement to account for deferred tax assets
[8] Pro forma to account for the $1.5bn issue at the beginning of January 2014
[9] Excluding SCF (Compagnie de Financement Foncier, the Group’ssociété de crédit foncier– a French legal covered bonds issuer)
[10] Including €5.4bn raised in excess of the 2012 plan and allocated to the 2013 plan