Groupe BPCE reported solid operational performances in 2011, with net banking income increasing 1.4% and gross operating income rising 3.1%. However, net income attributable to equity holders declined 27% to €2.6 billion due to €723 million in non-operational items. Excluding these items, net income fell 7% to €3.4 billion. Groupe BPCE remains committed to financing the French economy, with loan outstandings growing 6.5% annually. It has further reinforced its capital adequacy, with its Core Tier-1 capital ratio rising to 9.1% and reducing its capital shortfall.
The document discusses the performance of BNP Paribas Corporate and Investment Banking (BNP Paribas CIB) in 2011. It summarizes that 2011 was a challenging year for banks due to factors like the 2008 financial crisis fallout, increased regulation, and economic slowdowns. BNP Paribas CIB adapted by reducing US dollar funding needs and risk-weighted assets ahead of competitors. It is adapting its business model to remain sustainable and competitive in the new regulatory environment, while continuing to serve clients and meet their needs. Various examples are given of deals and clients BNP Paribas CIB worked with in areas like structured finance, corporate and transaction banking Europe, corporate finance, and global equities and commodity derivatives.
Angel Ron: Banco Popular Third Quarter 2012 Results CrisisBanco Popular
Banco Popular, the organization headed by Angel Ron, presents the results obtained in the third quarter of 2012.
According to the results, Banco Popular expects to finish the year keeping the line in terms of results obtained in these months.
Banco Popular also points at that althought the crisis is not over, we will keep reinforcing our
Provisions
- Benetton Group reported financial results for FY 2011 with revenues of €2.03 billion, a 1% decrease from FY 2010.
- Gross profit declined 6.9% to €882 million due to cost pressures and negative currency impacts. Operating expenses were reduced through cost cutting actions.
- Net income decreased 28.3% to €73 million, impacted by lower hedging gains compared to prior year and a lower tax rate.
- Emerging markets showed double digit revenue growth while traditional Western markets declined 4%. The wholesale channel was flat while direct sales declined slightly on a comparable basis.
- Deutsche Telekom reported Q1 2012 results with group revenue of €14.4 billion, a 1.1% decline year-over-year, but an improved organic decline of 1.7%. Adjusted EBITDA was stable at €4.5 billion.
- In Germany, revenue declined 2.3% organically due to lower voice and wholesale revenues, but adjusted EBITDA margin improved further to 40.7% due to cost savings. Mobile data revenue grew 20% and smartphone sales were strong.
- In the US, revenues declined 2.3% in US dollars but adjusted EBITDA grew 8% to US$1.3 billion due to cost reductions, with the margin improving
Santander’s 2012 attributable net profit was EUR 2.205 billion (-59%), after ...BANCO SANTANDER
Santander’s 2012 attributable net profit was EUR 2.205 billion (-59%), after making charges of EUR 18.800 billion and reducing property exposure in Spain
KF's annual report for 2005 summarizes the organization's activities and financial results for the year. Key highlights include KF recording a profit of SEK 715 million and maintaining a strong financial position. While Coop Norden improved profitability in Denmark and Norway, its Swedish business struggled and initiatives were implemented to improve performance. KF aims to strengthen the consumer co-operative movement by driving development at Coop Norden and supporting Swedish retail societies.
Chairman’s speech at the 2012 results presentation BANCO SANTANDER
Mr. Emilio Botin presented Banco Santander's 2012 results which showed attributed net profit of EUR 2.205 billion, down 59% from the previous year due to high provisions and writedowns in Spain. However, profit before provisions was EUR 23.559 billion, ranking Santander third globally. Santander strengthened its balance sheet, capital, liquidity and reduced its real estate exposure in Spain. Looking forward, Santander remains well positioned due to its diversification, subsidiary model, commercial banking focus, risk management and efficiency.
The document discusses the performance of BNP Paribas Corporate and Investment Banking (BNP Paribas CIB) in 2011. It summarizes that 2011 was a challenging year for banks due to factors like the 2008 financial crisis fallout, increased regulation, and economic slowdowns. BNP Paribas CIB adapted by reducing US dollar funding needs and risk-weighted assets ahead of competitors. It is adapting its business model to remain sustainable and competitive in the new regulatory environment, while continuing to serve clients and meet their needs. Various examples are given of deals and clients BNP Paribas CIB worked with in areas like structured finance, corporate and transaction banking Europe, corporate finance, and global equities and commodity derivatives.
Angel Ron: Banco Popular Third Quarter 2012 Results CrisisBanco Popular
Banco Popular, the organization headed by Angel Ron, presents the results obtained in the third quarter of 2012.
According to the results, Banco Popular expects to finish the year keeping the line in terms of results obtained in these months.
Banco Popular also points at that althought the crisis is not over, we will keep reinforcing our
Provisions
- Benetton Group reported financial results for FY 2011 with revenues of €2.03 billion, a 1% decrease from FY 2010.
- Gross profit declined 6.9% to €882 million due to cost pressures and negative currency impacts. Operating expenses were reduced through cost cutting actions.
- Net income decreased 28.3% to €73 million, impacted by lower hedging gains compared to prior year and a lower tax rate.
- Emerging markets showed double digit revenue growth while traditional Western markets declined 4%. The wholesale channel was flat while direct sales declined slightly on a comparable basis.
- Deutsche Telekom reported Q1 2012 results with group revenue of €14.4 billion, a 1.1% decline year-over-year, but an improved organic decline of 1.7%. Adjusted EBITDA was stable at €4.5 billion.
- In Germany, revenue declined 2.3% organically due to lower voice and wholesale revenues, but adjusted EBITDA margin improved further to 40.7% due to cost savings. Mobile data revenue grew 20% and smartphone sales were strong.
- In the US, revenues declined 2.3% in US dollars but adjusted EBITDA grew 8% to US$1.3 billion due to cost reductions, with the margin improving
Santander’s 2012 attributable net profit was EUR 2.205 billion (-59%), after ...BANCO SANTANDER
Santander’s 2012 attributable net profit was EUR 2.205 billion (-59%), after making charges of EUR 18.800 billion and reducing property exposure in Spain
KF's annual report for 2005 summarizes the organization's activities and financial results for the year. Key highlights include KF recording a profit of SEK 715 million and maintaining a strong financial position. While Coop Norden improved profitability in Denmark and Norway, its Swedish business struggled and initiatives were implemented to improve performance. KF aims to strengthen the consumer co-operative movement by driving development at Coop Norden and supporting Swedish retail societies.
Chairman’s speech at the 2012 results presentation BANCO SANTANDER
Mr. Emilio Botin presented Banco Santander's 2012 results which showed attributed net profit of EUR 2.205 billion, down 59% from the previous year due to high provisions and writedowns in Spain. However, profit before provisions was EUR 23.559 billion, ranking Santander third globally. Santander strengthened its balance sheet, capital, liquidity and reduced its real estate exposure in Spain. Looking forward, Santander remains well positioned due to its diversification, subsidiary model, commercial banking focus, risk management and efficiency.
Santander made a profit of EUR 4.361 billion, 32% more than a year earlierBANCO SANTANDER
Banco Santander made an attributable profit of EUR 4.361 billion in the first nine months of the year, an increase of 32% compared with the same period of 2013. Banco Santander’s chairman, Ana Botín, said: “Profit growth in 2014 helped consolidate the earnings recovery, thanks to improving revenues, falling costs and less need for write-downs.”
Santander registered attributable net profit of EUR 1.704 billion (-51%), aft...BANCO SANTANDER
FIRST HALF 2012 RESULTS
Santander registered attributable net profit of EUR 1.704 billion (-51%), after covering 70% of real estate provisions required by the latest Spanish regulations
Pre-provision profit was EUR 12.503 billion, up 6%.
Royal Wessanen nv reported financial results for Q3 2011. Autonomous revenue growth was 8.0% driven by strong performances in Grocery and ABC segments. Normalized EBIT increased to €6.2 million due to revenue growth and higher margins. Going forward, the company remains cautiously optimistic as it continues executing its strategy to improve performance across business segments.
European financing schemes under h2020 & cosme - Workshop on Juncker plan - B...Rodolphe d'Udekem d'Acoz
The document summarizes various European financing schemes available through programs like COSME and Horizon 2020. It provides an overview of 14 main schemes, describing their purpose, financing details, availability, budget and target recipients. It also notes limited access to these schemes in Belgium and calls for more effort to market schemes to intermediaries and make public funds available to match EU financing.
Havas Media Brussels Newsletter January 2012Hugues Rey
This newsletter provides information on media spending and TV, print, and online advertising in Belgium. It discusses TV channel performances in 2011, new programs from TV channels, the launch of a new public Flemish TV channel, changes in print media, and growth in online commerce and Facebook advertising.
The document summarizes the performance of Global Banking and Markets in the first half of 2008. Key points include:
- Global Banking and Markets contributed 26% of the group's pre-tax profits despite challenging market conditions.
- Strength in emerging markets like Asia Pacific and Latin America helped offset losses elsewhere.
- Writedowns were taken on subprime, credit, and leveraged loan exposures totaling $3.9 billion.
- Two of the group's structured investment vehicles, Cullinan and Asscher, had their assets transferred or sold into three securities investment conduits to provide more stable funding.
- Groupe BPCE reported strong results for full-year 2014, with net income attributable to equity holders increasing 5.9% to €3.1 billion.
- Revenues increased 2.3% to €23.6 billion while operating expenses rose only 1.2%, improving the cost/income ratio.
- The cost of risk declined 13.0%, contributing to a 9.5% rise in income before tax to €5.6 billion.
- Results were driven by solid performances from the Banque Populaire and Caisse d'Epargne retail banking networks as well as Natixis' core business lines, with revenues from these divisions increasing 2.3% to €
Le 18 février 2015, le conseil de surveillance du Groupe BPCE, présidé par Stève Gentili, a examiné les comptes du groupe pour le quatrième trimestre et l’année 2014.
Visualizing Business Models and Value Propositions In Private Banking And Wea...Alexander Osterwalder
This document summarizes a workshop on visualizing business models and value propositions in wealth management. The workshop aims to teach participants two simple tools: value proposition visualization to understand and compare a wealth manager's value proposition; and business model visualization to understand a wealth manager beyond their value proposition. The agenda includes breaking into groups to draw the value proposition and client acquisition channels of example banks, then presenting and discussing the visualizations.
The document provides Groupe BPCE's results for full year 2012. It announces a planned simplification of the Group's structure through a buyback of €12.1 billion in cooperative investment certificates held by Natixis. The results show stable core business line revenues in a difficult economic environment. Net income attributable to shareholders was €2.34 billion excluding revaluation of own debt, down 5.9% from 2011. Capital adequacy and liquidity were also strengthened in 2012.
Banco Santander acquired Banco Popular as part of a resolution scheme adopted by the Single Resolution Board. The acquisition strengthens Santander's position in Spain and Portugal and is expected to generate cost synergies and profitability improvements. Santander also completed a €7.072 billion capital increase to reinforce its capital structure following the acquisition. In the first half of 2017, Santander reported net income of €3.616 billion and continued progress on its strategic priorities.
Focusing its strengths on serving the economy
Improving its financial strength by reaching
a CET1 ratio of 10% in 2013
Capitalising on the market-leading position of its retail
banks and associated business lines
- Banca IFIS is a specialized bank focused on factoring and short-term lending to small and medium enterprises in Italy with a highly profitable business model and strong growth opportunities.
- It has a large sales network and aims to expand its product offerings and international presence while maintaining excellent asset quality and profitability.
- Strategies include growing the core factoring business in Italy and abroad, broadening products and services, and diversifying funding sources to support continued expansion.
The document discusses Société Générale Bank's efforts to integrate sustainability and corporate social responsibility issues into its commercial practices and operations. It outlines initiatives in customer relations, retail banking product offerings, new investment and financing practices, and innovation. Key areas of focus include developing sustainable loan products, solidarity-based savings options, and adhering to standards like the Equator Principles for large investments. The document argues that engaging commercial practices on social and environmental issues helps banks strengthen customer ties and transparency.
Groupe BPCE achieved strong results in 2013, with net income attributable to equity holders increasing 26.2% compared to 2012. The core business lines performed well, with revenue growth of 4.6% and a reduction in cost/income ratio. Risk levels remained moderate, with the cost of risk decreasing slightly. Capital adequacy ratios increased sharply in 2013, with the Common Equity Tier-1 ratio under Basel 3 rising 150 basis points to 10.4%. Liquidity was also strengthened, with the group raising €32.2 billion in medium-term funding, helping it achieve a 100% LCR in early 2015.
Santander Bank Annual Report 2011 Letter from Chief Executive Officer, Alfred...BANCO SANTANDER
Banco Santander's CEO Alfredo Sáenz discusses the bank's 2011 financial results and outlook in a letter to shareholders. The bank's profits declined in 2011 due to the European sovereign debt crisis but its core businesses performed well. The CEO emphasizes that Santander has taken steps to strengthen its balance sheet and is well-positioned to recover profitability as the economic environment stabilizes in the coming years.
After an extremely dynamic first quarter 2011, economic activity in France remained unchanged in the second quarter, due to the continuation and deepening of the sovereign debt crisis in the Euro zone. In the second half of 2011, growth remained verymodest, against a background of budgetary consolidation measures and a persistently high unemployment rate. At the end of the year, the GDP in France increased by an annual average of 1.7% in 2011, after increasing by 1.4% in 2010 (Source: Insee (National Institute of Statistics and Economic Studies).
Santander made a profit of EUR 4.361 billion, 32% more than a year earlierBANCO SANTANDER
Banco Santander made an attributable profit of EUR 4.361 billion in the first nine months of the year, an increase of 32% compared with the same period of 2013. Banco Santander’s chairman, Ana Botín, said: “Profit growth in 2014 helped consolidate the earnings recovery, thanks to improving revenues, falling costs and less need for write-downs.”
Santander registered attributable net profit of EUR 1.704 billion (-51%), aft...BANCO SANTANDER
FIRST HALF 2012 RESULTS
Santander registered attributable net profit of EUR 1.704 billion (-51%), after covering 70% of real estate provisions required by the latest Spanish regulations
Pre-provision profit was EUR 12.503 billion, up 6%.
Royal Wessanen nv reported financial results for Q3 2011. Autonomous revenue growth was 8.0% driven by strong performances in Grocery and ABC segments. Normalized EBIT increased to €6.2 million due to revenue growth and higher margins. Going forward, the company remains cautiously optimistic as it continues executing its strategy to improve performance across business segments.
European financing schemes under h2020 & cosme - Workshop on Juncker plan - B...Rodolphe d'Udekem d'Acoz
The document summarizes various European financing schemes available through programs like COSME and Horizon 2020. It provides an overview of 14 main schemes, describing their purpose, financing details, availability, budget and target recipients. It also notes limited access to these schemes in Belgium and calls for more effort to market schemes to intermediaries and make public funds available to match EU financing.
Havas Media Brussels Newsletter January 2012Hugues Rey
This newsletter provides information on media spending and TV, print, and online advertising in Belgium. It discusses TV channel performances in 2011, new programs from TV channels, the launch of a new public Flemish TV channel, changes in print media, and growth in online commerce and Facebook advertising.
The document summarizes the performance of Global Banking and Markets in the first half of 2008. Key points include:
- Global Banking and Markets contributed 26% of the group's pre-tax profits despite challenging market conditions.
- Strength in emerging markets like Asia Pacific and Latin America helped offset losses elsewhere.
- Writedowns were taken on subprime, credit, and leveraged loan exposures totaling $3.9 billion.
- Two of the group's structured investment vehicles, Cullinan and Asscher, had their assets transferred or sold into three securities investment conduits to provide more stable funding.
- Groupe BPCE reported strong results for full-year 2014, with net income attributable to equity holders increasing 5.9% to €3.1 billion.
- Revenues increased 2.3% to €23.6 billion while operating expenses rose only 1.2%, improving the cost/income ratio.
- The cost of risk declined 13.0%, contributing to a 9.5% rise in income before tax to €5.6 billion.
- Results were driven by solid performances from the Banque Populaire and Caisse d'Epargne retail banking networks as well as Natixis' core business lines, with revenues from these divisions increasing 2.3% to €
Le 18 février 2015, le conseil de surveillance du Groupe BPCE, présidé par Stève Gentili, a examiné les comptes du groupe pour le quatrième trimestre et l’année 2014.
Visualizing Business Models and Value Propositions In Private Banking And Wea...Alexander Osterwalder
This document summarizes a workshop on visualizing business models and value propositions in wealth management. The workshop aims to teach participants two simple tools: value proposition visualization to understand and compare a wealth manager's value proposition; and business model visualization to understand a wealth manager beyond their value proposition. The agenda includes breaking into groups to draw the value proposition and client acquisition channels of example banks, then presenting and discussing the visualizations.
The document provides Groupe BPCE's results for full year 2012. It announces a planned simplification of the Group's structure through a buyback of €12.1 billion in cooperative investment certificates held by Natixis. The results show stable core business line revenues in a difficult economic environment. Net income attributable to shareholders was €2.34 billion excluding revaluation of own debt, down 5.9% from 2011. Capital adequacy and liquidity were also strengthened in 2012.
Banco Santander acquired Banco Popular as part of a resolution scheme adopted by the Single Resolution Board. The acquisition strengthens Santander's position in Spain and Portugal and is expected to generate cost synergies and profitability improvements. Santander also completed a €7.072 billion capital increase to reinforce its capital structure following the acquisition. In the first half of 2017, Santander reported net income of €3.616 billion and continued progress on its strategic priorities.
Focusing its strengths on serving the economy
Improving its financial strength by reaching
a CET1 ratio of 10% in 2013
Capitalising on the market-leading position of its retail
banks and associated business lines
- Banca IFIS is a specialized bank focused on factoring and short-term lending to small and medium enterprises in Italy with a highly profitable business model and strong growth opportunities.
- It has a large sales network and aims to expand its product offerings and international presence while maintaining excellent asset quality and profitability.
- Strategies include growing the core factoring business in Italy and abroad, broadening products and services, and diversifying funding sources to support continued expansion.
The document discusses Société Générale Bank's efforts to integrate sustainability and corporate social responsibility issues into its commercial practices and operations. It outlines initiatives in customer relations, retail banking product offerings, new investment and financing practices, and innovation. Key areas of focus include developing sustainable loan products, solidarity-based savings options, and adhering to standards like the Equator Principles for large investments. The document argues that engaging commercial practices on social and environmental issues helps banks strengthen customer ties and transparency.
Groupe BPCE achieved strong results in 2013, with net income attributable to equity holders increasing 26.2% compared to 2012. The core business lines performed well, with revenue growth of 4.6% and a reduction in cost/income ratio. Risk levels remained moderate, with the cost of risk decreasing slightly. Capital adequacy ratios increased sharply in 2013, with the Common Equity Tier-1 ratio under Basel 3 rising 150 basis points to 10.4%. Liquidity was also strengthened, with the group raising €32.2 billion in medium-term funding, helping it achieve a 100% LCR in early 2015.
Santander Bank Annual Report 2011 Letter from Chief Executive Officer, Alfred...BANCO SANTANDER
Banco Santander's CEO Alfredo Sáenz discusses the bank's 2011 financial results and outlook in a letter to shareholders. The bank's profits declined in 2011 due to the European sovereign debt crisis but its core businesses performed well. The CEO emphasizes that Santander has taken steps to strengthen its balance sheet and is well-positioned to recover profitability as the economic environment stabilizes in the coming years.
After an extremely dynamic first quarter 2011, economic activity in France remained unchanged in the second quarter, due to the continuation and deepening of the sovereign debt crisis in the Euro zone. In the second half of 2011, growth remained verymodest, against a background of budgetary consolidation measures and a persistently high unemployment rate. At the end of the year, the GDP in France increased by an annual average of 1.7% in 2011, after increasing by 1.4% in 2010 (Source: Insee (National Institute of Statistics and Economic Studies).
The document summarizes ABN AMRO Bank's nine months 2012 results. Key highlights include:
- Satisfactory underlying net profit of EUR 1,201m for 9M2012, up 22% from 9M2011, driven by lower impairments on Greek exposures and lower expenses.
- Operating income increased 5% to EUR 5,624m while the underlying cost/income ratio improved to 59% from 63% in 9M2011.
- Impairments were down 23% to EUR 762m mainly due to a EUR 500m charge in 9M2011 on Greek exposures, offset by higher impairments in other business segments.
- Capital and liquidity positions remained strong
With €45 billion injected into the economy in loans, equity capital, subsidies, grants and guarantees (excluding EMPs), Bpifrance has counter-cyclically mobilized all of its business lines in the service of economic emergencies. Bpifrance has become the operator of the Business Recovery Plan for companies while strongly animating the investment market.
- The coronavirus pandemic significantly impacted the company's results in the first half of 2020. Revenue declined 2.2% due to rent relief provided to tenants.
- Center operating costs rose substantially by €17.9 million primarily due to higher write-downs of rent receivables totaling €19 million resulting from expected rent defaults and tenant insolvencies caused by the pandemic.
- Earnings before interest and taxes (EBIT) fell 20.1% to €78.5 million mainly due to the increase in rent receivable write-downs and lower revenue amid the pandemic.
The document provides the annual report and audited annual accounts for The OneLife Company S.A. for the year ended 31 December 2021. It includes information on the company's principal activities, financial performance for 2021, technical provisions, and outlook. The company reported a profit of EUR 14.1 million in 2021, up from EUR 5.34 million in 2020. Earned premiums increased to EUR 1,086 million in 2021 from EUR 834 million in 2020. Technical provisions increased 15.4% to EUR 8.928 billion as of 31 December 2021. The company aims to continue innovating investment solutions and optimizing digital interfaces in 2022.
The document is the quarterly newsletter from Banca IFIS, an Italian bank. It discusses Banca IFIS' strong financial performance in 2012, with profits tripling, loans increasing, and equity growing. It also discusses the bank's increased social media presence and use of interactive online financial statements. Additionally, it provides an overview of the bank's factoring services for SMEs, both domestic and international, and its focus on supporting Italian exporters.
The document provides an overview of Banco Santander's financial results for the first half of 2015. Key points include:
- Profit grew 24% year-over-year to EUR 3.4 billion, driven by increased commercial revenues and improved cost of credit.
- Loans increased 7% and customer funds grew 8% compared to the prior year.
- Capital and solvency ratios strengthened, with the CET1 ratio up to 9.8%.
- The bank continued transforming its business model to be more simple, personal and fair for customers.
Goldman Sachs European Financials conference 2011Ageas
This document summarizes Bruno Colmant's presentation at the Goldman Sachs European Financials Conference on June 8, 2011 regarding Ageas's priorities and financial performance. The presentation outlines Ageas's focus on improving operational performance, strengthening its insurance franchises, making progress on legacy issues, disciplined capital management, and a consistent dividend policy. It provides financial results for Q1 2011 showing improved insurance performance. The presentation also discusses Ageas's efforts to improve non-life performance, strengthen its insurance franchises in key markets, address legacy issues, and maintain a strong solvency position.
This letter from the executive board discusses the impacts of the COVID-19 pandemic on Deutsche EuroShop AG and its shopping centers. It states that footfall and tenant revenues have increased to around 77% and 85% of pre-pandemic levels respectively as stores have reopened. However, key financial figures like revenue and earnings are still down compared to the previous year. The letter also addresses rent support provided to tenants, refinancing of loans, and forecasts funds from operations to be between €1.70 to €1.90 per share for 2021 assuming no further major store closures.
DeA Capital is an Italian alternative asset management firm with over €10 billion in assets under management. The presentation provides an overview and update of DeA Capital's business segments, including private equity investments in Generale de Santé and Migros, real estate funds, and alternative asset management. It outlines strategies to focus on alternative asset management and gradually exit private equity investments, with the goal of increasing distributions to shareholders.
Introduction The crisis has shown that there is no such thing as an optimal banking structure or model. Some pure investment banks (e.g. Lehman Brothers or Bear Stearns), some pure retail banks (e.g. Spanish Cajas, Irish banks, Northern Rock), and some universal banks (e.g. ING or RBS) alike either failed or were absorbed or required exceptional government support. Accordingly, the European High-Level Expert Group chaired by Erkki Liikanen came to the conclusion that no particular business model fared particularly well, or particularly poorly, in the financial crisis, but the Group rather pointed out excessive risk taking as well as reliance on short term funding, not matched with adequate capital protection.1 To address these weaknesses many key reforms have been adopted at the international level over the last years or will be finalised in the coming months.2 Most notably, the agreement reached by the Basel Committee on Banking Supervision (BCBS, 2011) on the new bank capital and liquidity framework will raise the quality, quantity and international consistency of bank capital and liquidity, constrain the build-up of leverage and maturity mismatches, and introduce capital buffers above the minimum requirements that can be drawn upon in bad times. Systemically important financial institutions (SIFIs) will also be required to have higher loss absorbency capacity. These multi-pronged reforms lay down much stricter rules for banks within a short timeframe.
The Chairman reviewed Banco Santander's 2011 results and highlighted four key factors for the bank's success:
1) Business diversification across emerging and developed markets helped generate stable revenues. Brazil contributed the largest profit while Spain's contribution declined.
2) Strong capital and liquidity management allowed the bank to quickly meet new capital requirements while maintaining dividend payments. The subsidiaries model provides capital and liquidity autonomy.
3) Conservative risk management is exemplified by below-average default rates and increasing loan loss provisions for Spanish real estate to 50% of balance sheet exposure.
4) Efficiency initiatives such as technology and operations management allow Santander to have the lowest cost-to-income ratio among global
The document outlines Spain's Memorandum of Understanding on financial sector policy conditionality related to receiving assistance from the European Financial Stability Facility. It details that Spain will be subject to bank-specific conditionality in line with state aid rules to reinforce stability in the banking sector. Key objectives of the program include increasing long-term resilience of banks through addressing legacy assets, improving transparency, and enhancing risk management. The program will involve an asset quality review and stress test of banks to identify capital needs, and the recapitalization, restructuring or resolution of weak banks based on plans to address capital shortfalls.
La Lorraine, qui compte 6 046 PME (3 % des PME en France), possède un tissu de PME moins dense que la moyenne des régions de province… à l’exception des Vosges.
Avec environ 10 % des PME et des ETI françaises localisées sur son territoire, la région Rhône-Alpes est dense en entreprises de 50 à 4 999 salariés. Mais trois de ses départements – Ain, Loire et Savoie – ont une densité en ETI plus faible que la moyenne nationale.
The Rise of Generative AI in Finance: Reshaping the Industry with Synthetic DataChampak Jhagmag
In this presentation, we will explore the rise of generative AI in finance and its potential to reshape the industry. We will discuss how generative AI can be used to develop new products, combat fraud, and revolutionize risk management. Finally, we will address some of the ethical considerations and challenges associated with this powerful technology.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
BONKMILLON Unleashes Its Bonkers Potential on Solana.pdfcoingabbar
Introducing BONKMILLON - The Most Bonkers Meme Coin Yet
Let's be real for a second – the world of meme coins can feel like a bit of a circus at times. Every other day, there's a new token promising to take you "to the moon" or offering some groundbreaking utility that'll change the game forever. But how many of them actually deliver on that hype?
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
2. Disclaimer
This presentation may contain forward-looking statements and comments relating to the objectives and strategy of Groupe BPCE. By their
very nature, these forward-looking statements inherently depend on assumptions, project considerations, objectives and expectations linked
to future events, transactions, products and services as well as on suppositions regarding future performance and synergies.
No guarantee can be given that such objectives will be realized; they are subject to inherent risks and uncertainties and are based on
assumptions relating to the Group, its subsidiaries and associates and the business development thereof; trends in the sector; future
acquisitions and investments; macroeconomic conditions and conditions in the Group’s principal local markets; competition and regulation.
Occurrence of such events is not certain, and outcomes may prove different from current expectations, significantly affecting expected
results. Actual results may differ significantly from those anticipated or implied by the forward-looking statements. Groupe BPCE shall in no
event have any obligation to publish modifications or updates of such objectives.
Information in this presentation relating to parties other than Groupe BPCE or taken from external sources has not been subject to
independent verification, and the Group makes no warranty as to the accuracy, fairness or completeness of the information or opinions in this
presentation. Neither Groupe BPCE nor its representatives shall be liable for any errors or omissions or for any harm resulting from the use of
this presentation, the content of this presentation, or any document or information referred to in this presentation.
The financial information presented in this document relating to the fiscal period ended December 31, 2011 has been drawn up in compliance
with IFRS guidelines, as adopted in the European Union.
The consolidated financial statements of Groupe BPCE for the fiscal period ended December 31, 2011 approved by the Management Board at a
meeting convened on February 20, 2011, were verified and reviewed by the Supervisory Board at a meeting convened on February 22, 2012.
This presentation includes financial data related to publicly listed companies which, in accordance with Article L. 451-1-2 of the French
Monetary and Financial Code (Code Monétaire and Financier), publish information on a quarterly basis about their total revenues per business
line. Accordingly, the quarterly financial data regarding these companies is derived from an estimate carried out by Groupe BPCE. The
publication of Groupe BPCE’s key financial figures based on these estimates should not be construed to engage the liability of the
abovementioned companies.
The audit procedures relating to the consolidated financial statements for the year ended December 31, 2011 have been substantially
completed. The reports of the statutory auditors regarding the certification of these consolidated financial statements will be published
following the verification of the Management Report and the finalization of the procedures required for the registration of the reference
document.
Notes on methodology
Groupe BPCE’s segment information has been restated for previous financial periods to take account of changes in the scope of its business
lines: inclusion of GCE Payments, Cicobail and Océor Lease (previously attributed to the Commercial Banking and Insurance division) in the
Specialized Financial Services core business line of Natixis.
The Eurosic and Foncia equity interests, sold in June and July 2011, were reclassified under "Other Businesses" on June 30, 2011.
Groupe BPCE sold part of its equity interest in Volksbank International AG (previously attributed to the Commercial Banking and Insurance
Division) on February 15, 2012. On December 31, 2011, the financial items corresponding to the businesses in the process of divestment
were reclassified under "Other Businesses" and the businesses not subject to divestment were attributed to the Equity Interests business
line.
The segment information of Groupe BPCE has been restated accordingly for the periods in question.
February 23, 2012 Results for the full year and 4th quarter of 2011 2
3. Groupe BPCE: greater funds provided to finance the
French economy and enhanced capital adequacy
Solid operational performances: net banking income, + 1.4% at €23.1bn;
gross operating income, + 3.1% at €7.5bn
2011 net income attributable to equity holders of the parent at €2.6bn (- 27% vs. 2010),
impacted by non-operational items of €723m
Excluding non-operational items, net income of €3.4bn (- 7% vs. 2010)
Major commitment by Groupe BPCE to finance the French economy: 6.5% annual growth
in loan outstandings1
Recurrence of results posted by the core business lines: income before tax of €6bn
(- 3 % vs. 2010), despite adverse market conditions
Capital adequacy further reinforced: Basel 2.5 Core Tier-1 capital ratio of 9.1 %2
Capital shortfall, on the basis of the European Banking Authority requirements for June 30, 2012,
reduced from €3.7bn3 to €0.7bn in one quarter
Confirmation of the target to achieve Tier-1 Common Equity under Basel 3 > 9% in 2013
(without transitional measures4)
Debt-reduction program: 1/3 of the debt-reduction program already completed at the end of 2011
1 At Dec. 31,2011 / source: Banque de France- Financing the French economy 2 Estimate at December 31, 2011 – Excluding the floor effect
3 Calculated using the European Banking Authority’s stress tests method of December 8, 2011 4 After restating deferred tax assets
February 23, 2012 Results for the full year and 4th quarter of 2011 3
4. 1. Groupe BPCE, a major player in financing the French
economy and its customers
6.5% annual growth in loan outstandings
Loans to individual customers: > 8%
A group actively
Loans to corporate customers: > 5%
committed
Loans to independent micro-enterprises / SMEs: > 7%
to financing the
French economy1 Growth in market share
Gain of 0.5 pt market share in loans to independent micro-enterprises / SMEs
The preferred banking institutions of the French and of their companies
Banque Populaire, 1st prize, Banking sector of the Podium de la Relation Client2
Caisse d’Epargne named the favorite banking institution of the French3
Local retail Multi-channel innovation: banks developing even closer customer relationships
networks e-BanquePopulaire and Monbanquierenligne for the Caisses d’Epargne: all the services of a traditional
actively branch and a personal advisor available online
committed to The Caisse d’Epargne noted No.1 worldwide for its iPhone® Caisse d’Epargne application launched in
2011: more than 1,000,000 customers use the Caisse d’Epargne smartphone applications
their customers
Dynamic customer base
Banque Populaire banks: milestone of one million customers banking in a professional capacity in 2011
Caisses d’Epargne: 600,000 new customers in 2011
1 At Dec. 31, 2011, source: Banque de France – Financing the French economy 2 Awarded by BearingPoint and TNS Sofres 3 JDD / Posternak / IPSOS image barometer
February 23, 2012 Results for the full year and 4th quarter of 2011 4
5. 1. Groupe BPCE, refocused on its core business lines,
ahead of its synergy targets
Natixis: a business model radically transformed
Corporate Investment Banking, a revised business model: continued refocusing on customer-related
activities and faster development of the “originate to distribute” model
A group Investment Solutions: success of the multi-boutique model with net inflows of funds under management
refocused on its of €3.7bn in 2011
Specialized Financial Services: greater synergies with the retail networks
core business
lines and Crédit Foncier de France: adoption of the 2012-2016 strategic plan
customer- Refocusing on core business lines in France, at the service of its own customers and those of the group,
related activities and discontinuation of business activities in the international arena
Sale, in 2010, of Natixis’ proprietary private equity activities in France and sale
of Eurosic and Foncia in 2011
Revenue synergies Cost synergies
between Natixis and the Banque Populaire
and Caisse d’Epargne networks
End of 2011
End of 2011
2013 target 2013 target
€501m €810m
€684m €1,000m
Synergies Linearized target: Three major contributions Linearized target:
generated €405m (as a % of the additional
net banking income generated)
€500m
ahead of target 25%
37%
Information systems
23% Consumer loans Processes (of which purchases)
39% Insurance Organization
38%
Payments (of which central institution
25%
13% and real-estate optimization)
Other
February 23, 2012 Results for the full year and 4th quarter of 2011 5
6. 1. Groupe BPCE, socially committed and responsible
Customers who are cooperative shareholders, loyal partners and committed within the group
8.1 million cooperative shareholders, individual and corporate customers are present in the retail networks
The group’s
One of the first promoters of public-interest initiatives taken in favor of the social economy at a
societal regional level
commitment: A long-term commitment by the Caisse d’Epargne and Banque Populaire federations and foundations (€33m) in
the strength supporting healthcare, solidarity, education, environment and culture
of the cooperative A new 5-year partnership signed with the Institut Gustave Roussy in support of scientific research teams
For the past 7 years, active involvement in the fight against malaria
business model
Grassroots commercial development with all members of the social fabric at a local & regional level
Our branches are present in 1/3 of urban neighborhoods classified as “sensitive”
Leader in solidarity-based savings
Finansol ranking, 57% of outstandings managed in the local financial market
Financing 52.6% market share for socially-responsible employee savings plans via Natixis Asset Management and 35% market
share for solidarity-based funds overall (AFG and Finansol barometer review)
green
and responsible Financing renewable energy projects
28 new projects financed in 2011 by Natixis Energéco in partnership with the retail networks
growth:
from pioneer Leader in micro-credit solutions for individual and professional customers
€56.6m in new micro-credit loan production in 2011, representing 11% growth in volume over 2010
to leader, A dedicated savings bank program entitled “Parcours Confiance” (Confidence Track), a scheme providing people in
a long-term vulnerable circumstances with support and funding for their projects
commitment The No.1 partner of ADIE, the French association for the right to economic initiative, in terms of micro-credit
Symposium on green and responsible growth
The first event of its kind to be organized by a banking group (March 29, 2011)
Enhanced mobilization in favor of the disabled
Within the framework of the PHARE program (Responsible Purchasing & Handicap Policy) + 50% increase in the value
Responsible of revenues entrusted to the protected sector, representing sales worth a total of €4.5m
practices: A tangible commitment in favor of diversity
a group committed Adoption of quantified targets in favor of diversity, supervised within the group’s Human Resources division
in its everyday A benchmark employer at a regional level
actions With almost 5,800 new employees hired on permanent contracts in France
A determined drive to reduce the group’s carbon footprint
Publication of a simplified, operational and effective carbon audit for the banking industry, carried out up to branch level
February 23, 2012 Results for the full year and 4th quarter of 2011 6
7. Contents
1. Results of Groupe BPCE
2. Results of the core business lines
3. Capital adequacy and liquidity
Adapting the group to its new environment
February 23, 2012 Results for the full year and 4th quarter of 2011 7
8. 1. Results of Groupe BPCE
2011 net income (excluding non-operational items) of €3.4bn,
marginally down compared with 2010
2011 / Q4-11 /
in millions of euros 20111 Q4-11
2010 Q4-10
Net banking income 23,073 + 1.4% 5,839 + 0.6%
Operating expenses - 15,615 + 0.6% - 4,077 - 2.1%
Gross operating income 7,458 + 3.1% 1,762 + 7.5%
Cost/income ratio 67.7% - 0.5 pt 69.8% - 1.9 pt
Cost of risk - 2,769 + 67.4% - 682 + 55.4%
Excl. Greek government bonds impairment - 1,848 + 11.7% - 612 + 39.4%
Share of income of associates -7 n.s - 95 n.s
Income before tax 4,621 - 18.7% 915 - 26.7%
Income tax - 1,641 - 3.5% - 438 + 63.4%
Minority interests - 333 - 11.7% - 70 - 45.3%
Net income attributable to 2,647 - 26.6% 407 - 52.3%
equity holders of the parent
Excluding non-operational items 3,370 - 6.7% 594 - 29.5%
ROE 5.7% - 2.3 pts 3.3% - 4.2 pts
Excluding non-operational items 7.4% - 0.6 pt 5.1% - 2.4 pts
1 Pro forma to account for the disposal of Eurosic and Foncia in June and July 2011
February 23, 2012 Results for the full year and 4th quarter of 2011 8
9. 1. Significant non-operational items in 2011
Impact on net income
in millions of euros 2011 Q4-11
Impairment of Greek government bonds - 595 - 36
Sale of equity interests
- 71 - 71
(Volksbank International AG and Crédit Immobilier Hôtelier)
Adjustment of the value of the equity interest
- 116 - 116
in Volksbank Romania
Goodwill impairment - 95 - 46
Revaluation of own debt1 + 154 + 82
Impact of non-operational items
on net income attributable to equity holders - 723 - 187
of the parent
Reminder
- 78 - 78
Increase in the corporate tax rate
1 Regarding Natixis and Crédit Foncier de France
February 23, 2012 Results for the full year and 4th quarter of 2011 9
10. 1. Results of the core business lines
Performance levels maintained at their 2010 levels despite the
substantially weaker market environment
Core Core
business 2011 / business Q4-11 /
in millions of euros
lines1 2010 lines1 Q4-10
2011 Q4-11
Net banking income 20,918 + 0.3% 5,262 - 2.9%
Operating expenses - 13,664 + 1.5% - 3,536 - 0.4%
Gross operating income 7,254 - 1.9% 1,726 -- 7.7%
Cost/income ratio 65.3% -+ 0.7 pt 67.2% + 1.7 pt
Cost of risk - 1,460 - 1.7% - 407 + 24.5%
Income before tax 5,984 - 3.1% 1,366 - 16.8%
Income tax - 1,902 + 2.8% - 435 + 2.8%
Minority interests - 416 - 9.0% - 106 - 12.4%
Net income attributable to
3,666 - 5.2% 825 - 24.9%
equity holders of the parent
ROE 13% - 1 pt 12% - 4 pts
1 Commercial Banking and Insurance ; CIB, Investment Solutions and Specialized Financial Services
February 23, 2012 Results for the full year and 4th quarter of 2011 10
11. 1. Cost of risk for the group
Cost of risk in bp1
42
39 31 32
34 27 23
18
Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11
Cost of risk (in €m)
769
70
83
Greek government
511 612
459 439 390 451 394 bond impairment
2452
Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11
Impairment of Greek government bonds
> Discount taken to 70%, including the financial guarantees received
> 2011 aggregate impairment loss of €921m, representing a €595m impact on the net income
attributable to equity holders of the parent
Increase in the cost of risk (excluding Greece) in Q4-11 and 2011 as a whole
> Mainly GAPC and Crédit Foncier de France
1 Cost of risk excluding Greek government bonds impairment and non-recurring impairment in Q3-11, expressed in annualized basis points on gross customer loan outstandings at the beginning of
the period 2 Low level related to the ad hoc reversal of provisions
February 23, 2012 Results for the full year and 4th quarter of 2011 11
12. 1. Limited exposure of Groupe BPCE to the sovereign
debts of peripheral European countries
Net direct exposures of credit institutions in banking portfolio1 (in €m)
- 26 %
4,612
-9%
3,432
2,822
2,560
- 52 % 31/12/2011
31/12/2010
1,197
- 49%
- 54% - 41 %
576
312
158 211
97 70 41
2
Greece Ireland Portugal Spain Italy Total
Net exposures of insurance companies3 (in €m)
- 46 %
- 38 % 31/12/2011
- 73 % - 60% 466
= - 51 %
31/12/2010
219 251
91 136
25 37 37 53 21 65 32
Greece Ireland Portugal Spain Italy Total
1 Calculated using the methodology drawn up by the European Banking Authority (EBA) for the stress tests - net direct exposures excluding derivatives
2 This exposure at December 31, 2011 benefits up to €300m in nominal value from an independent financial guarantee
3 Exposures are net of policyholders’ participation
February 23, 2012 Results for the full year and 4th quarter of 2011 12
13. 1. Cost of risk of the core business lines remains stable
Cost of risk en bp1
32 31 28 31
25 23 27 27
Commercial Banking
and Insurance
52
39
33
26 23 27
22
10 CIB, IS, and SFS
35 32
25 27 26 28 30
21
Core business lines
Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11
1 Cost of risk excluding Greek government bonds impairment and non-recurring impairment in Q3-11, expressed in annualized basis points on gross customer loan outstandings at the beginning of
the period
February 23, 2012 Results for the full year and 4th quarter of 2011 13
14. 1. GAPC (Workout portfolio management): continued
implementation of the roadmap with no significant
impact on net income: assets worth €4.9bn sold in 2011
Risk-weighted assets (in €bn)
Sharp decline in the impact of the
segregated assets since the group’s
creation
> Assets worth €4.9bn disposed of in 2011,
including €2bn in Q4-11 in an adverse
environment 29.7 27.5 2.7 Basel 2.5
16.7 impact
> 48% decline in risk-weighted assets since 12.8
June 2009, including impact related to
June 2 0 0 9 D ec. 2 0 0 9 D ec. 2 0 10 D ec. 2 0 11
Basel 2.5
> 57% decline in risk-weighted assets since
June 2009, excluding €2.7bn negative
impact related to Basel 2.5
> 23% reduction in 2011, excluding Basel
2.5 impact Contribution of GAPC to the net income attributable to
equity holders of the parent (in €m)
No significant impact of GAPC on the
41 42 51
group’s net income in 2011 29 6
-13 -27
-61 -41
-75
Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 2010 2011
February 23, 2012 Results for the full year and 4th quarter of 2011 14
15. Contents
1. Results of Groupe BPCE
2. Results of the core business lines
3. Capital adequacy and liquidity
Adapting the group to its new environment
February 23, 2012 Results for the full year and 4th quarter of 2011 15
16. 2. Predominance of retail banking activities in France
Business contribution to group1 Business contribution to group1
net banking income in 2011 (as a %) income before tax in 2011 (as a %)
Retail banking: 72% Retail banking: 74%
67% 69%
5% Core business lines
5%
of Natixis: 25%
8%
9%
12%
16%
8% 1%
Commercial Banking and Insurance Core business lines
Specialized Financial Services of Natixis: 30%
Investment Solutions
CIB
Equity interests
1 Excluding “Workout portfolio management” and “Other businesses” business lines
February 23, 2012 Results for the full year and 4th quarter of 2011 16
17. 2. Commercial Banking and Insurance
Slight rise in revenues and good net income performance
for the year as a whole
2011/ Q4-11/
in millions of euros 2011 Q4-11
2010 Q4-10
Net banking income 15,123 + 1.0% 3,854 - 1.4%
Banque Populaire banks 6,329 + 1.4% 1,598 - 1.1%
excl. changes in provisions for home
6,275 + 0.8% 1,562 - 2.4%
purchase savings schemes
Caisses d’Epargne 6,803 + 0.5% 1,751 - 1.0%
excl. changes in provisions for home
purchase savings schemes 6,792 + 0.3% 1,768 -=
Real estate Financing 882 - 7.3% 188 - 23.3%
Insurance, International
1,109 + 10.3% 317 + 12.4%
and Other networks
Operating expenses - 9,833 + 1.4% - 2,576 + 1.3%
Gross operating income 5,290 + 0.5% 1,278 - 6.5%
Cost/income ratio 65.0% + 0.2 pt 66.8% + 1.8 pt
Cost of risk - 1,277 + 5.7% - 356 + 24.9%
Income before tax 4,187 - 2.4% 963 - 17.3%
Income tax - 1,371 + 1.0% - 316 - 2.8%
Minority interests - 38 + 2.7% -12 + 33.3%
Net income attributable to
2,778 - 4.0% 635 - 23.6%
equity holders of the parent
ROE 12% - 1 pt 11% - 3 pts
February 23, 2012 Results for the full year and 4th quarter of 2011 17
18. 2. Commercial Banking and Insurance
Extremely dynamic year for commercial banking driven
by a larger customer base
Net banking income Contribution to net banking income in 2011
Banque Populaire banks: + 0.8%1
Caisses d’Epargne: + 0.3%1 (excl. impact of lower
Livret A commissions: net banking income + 2.7%)
7%
Interest margin: favorable impact related to 6%
increased volumes
Commissions2: Banque Populaire banks: + 1.9% Banques Populaires banks
and Caisses d’Epargne: + 5.9%; change chiefly Caisses d’Epargne
related to the increased number of customers and 42% Real estate Financing
enhanced business relationship with existing 45% Other
customers
Operating expenses: + 1.4%
+ 0.8%, excluding “systemic tax”
Tight management of the cost of risk
Cost of risk in basis points3
5.7% increase vs. 2010 due to a specific item
in Q4-11
Contribution of Commercial Banking and 42 45
38 36
Insurance to the group’s income before tax: 32 34 34
30 28
26 23 25
22 21
€4,187m in 2011 vs. €4,290m in 2010 19
Q4-10 Q1-11 Q2-11 Q3-11 Q4-11
Banques Populaires Cost of risk of both networks Caisses d’Epargne
Unless specified to the contrary, all changes are vs. 2010
1Excl. changes in provisions for home purchase savings schemes 2 Commissions excluding Livret A commissions and compensation for early loan redemption
3Cost of risk (excl. non-recurring impairment in Q3-11) expressed in annualized basis points on gross customer outstandings at the beginning of the period
February 23, 2012 Results for the full year and 4th quarter of 2011 18
19. 2. Commercial Banking and Insurance
Banque Populaire banks
Savings deposits
Growth in 1 year (as a %)
A confirmed growth in customer base
12,0%
10.4%
> Active individual customers: + 1.2 % in 2011
9.4%
vs. + 0.8% in 2010 10,0% 8.8%
> Active individual customers using banking services:
8,0% 8.7%
+ 2.5% in 2011 vs. + 1.3% in 2010
6,0%
4,0%
Strong growth in on-balance sheet savings: 2.1%
2,0%
+ 8.8% (excluding centralized savings) 0.2%
0,0%
Q1-11/Q1-10 Q2-11/Q2-10 Q3-11/Q3-10 Q4-11/Q4-10
> On-balance sheet savings: dynamic performance
-2,0%
delivered by passbook savings accounts (+ 10.4%) and -2.2%
term accounts (+ 21.7%) favored by professional and -4,0% -3.3%
corporate customers at the expense of mutual funds
On-balance sheet savings (excl. centralized savings)
Financial savings
> Financial savings (- 3.3%): substantially affected by
market tensions, favoring a movement towards on-balance
sheet products Loan outstandings (in €bn)
146.1 154.8
Loan outstandings: + 5.9% 139.8
> Continued growth in equipment loans (+ 5.2% 68.9
63.8 65.3
vs. + 4.0% in Q3-11)
> Home loans rose by 7.2% in what remained a buoyant
market 85.9
76.0 80.8
Dec. 2009 Dec. 2010 Dec. 2011
Professionals, corporates and institutionals
Individual customers
Unless specified to the contrary, all changes are vs. 2010
February 23, 2012 Results for the full year and 4th quarter of 2011 19
20. 2. Commercial Banking and Insurance
Caisses d’Epargne
Savings deposits
Growth in 1 year (as a %)
A new dynamic trend in customer base
12,0%
> Active individual customers: + 3.2% in 2011 vs. 1.2% in 2010
10,0% 8.9%
> Principal active customers using banking services: + 7.4% in 8.2% 8.5%
2011 vs. 5.2% in 2010 8,0%
6.7%
Strong growth in on-balance sheet savings: + 8.5% 6,0%
(excl. centralized savings) 4,0%
> On-balance sheet savings: good performance achieved by 2,0%
placement of BPCE bonds with retail customers (+ 9.3%) and 1.9%
1.3% 1.5%
1.2%
passbook savings accounts (+ 5.2%) 0,0%
Q1-11/Q1-10 Q2-11/Q2-10 Q3-11/Q3-10 Q4-11/Q4-10
> Financial savings (+ 1.2%): dynamism of life insurance On-balance sheet savings (excl. centralized savings)
(+ 4.6%) in an adverse market Financial savings
Loan outstandings: + 10.3% Loan outstandings (in €bn)
171.0
> Slower rate of growth in new loan production in Q4-11 155.0
137.3
68.7
> Growth remained buoyant for both real estate loans (+ 12.0%) 62.2
and equipment1 loans (+ 12.7%) 54.7
92.8 102.3
82.6
Dec. 2009 Dec. 210 Dec. 2011
Professionals, corporates and institutionals
1
Individual customers
Unless specified to the contrary, all changes are vs. 2010 excluding local government market
February 23, 2012 Results for the full year and 4th quarter of 2011 20
21. 2. Commercial Banking and Insurance
Real estate Financing: refocus on core business activities
in synergy with the retail networks
Real estate Financing Business activity indicators
Principal entity contributing to this core business line: Crédit Foncier de France (CFF)
New 2012 – 2016 strategic plan Loan production (in €bn)
> Refocusing of CFF on its core business activities in France,
serving its own customers and those of Groupe BPCE
> Development of synergies with the retail networks 15.6
> Discontinuation of international activities 12.3
3.7
0.6
> Balance sheet size reduced by approximately 10% 3.8 4.3
> Cost savings of almost 12% 8.1 7.4
€1.5bn recapitalization of CFF by BPCE in Dec. 2011 Dec. 2010 Dec. 2011
Activities International Corporates
> Customer loan outstandings remain stable at €117.6bn France Corporates
> France new loan production: €11.7bn, marginally down Individuals customers
vs. 2010
• Individual customers: €7.4bn, extremely dynamic year-end Customer loan outstandings (in €bn)
and strong business in home-ownership segment for
low-income families
• Corporates: + 13% thanks to good performance delivered
by investor, developer, and public sector financing 117.1 117.6
> International Corporates: loan production ended mid-year
57.2 57.9
Contribution of Real estate Financing to the group’s
income before tax: €128m in 2011
59.9 59.7
vs. €302m in 2010
> Operating expenses: + 7%, non-recurrent expenses related to
Dec. 2010 Dec. 2011
the discontinuation of certain projects and to new “systemic”
taxes Individual customers Corporates
> Cost of risk: + 52%, additional provisions on corporate
customers
Unless specified to the contrary, all changes are vs. 2010
February 23, 2012 Results for the full year and 4th quarter of 2011 21
22. 2. Commercial Banking and Insurance
Insurance: buoyant sales activity in non-life and provident insurance
Insurance1 Business activity indicators
Life insurance (CNP Assurances)
Life insurance: decline in revenues owing to the
adverse economic environment
> Strong dynamics for new unit-linked fund inflows (15% 9,977
8,221
5,527 5,614
of revenues) benefiting from BPCE bond issues
> Net inflows remained substantially positive: > €1bn Dec. 2010 Dec. 2011 Dec. 2010 Dec. 2011
Revenues (€m) Contract portfolio (thousands)
Non-life insurance: premium income + 9.0% Caisse d’Epargne network Caisse d’Epargne network
> Good performance in the vehicle and comprehensive home
insurance segments Non-life insurance
> Launch of the “Bank Insurer Ambition” project giving a
further boost to this dynamic
312 317 349
286
Provident and Health insurance: revenues + 17.3%
Dynamic activity thanks to good commercial Dec. 2010 Dec. 2011 Dec. 2010 Dec. 2011
performance Revenues (€m) Gross sales (thousands)
> Health: revenues + 17.7%
> “Ecureuil Solutions Obsèques” funeral product: launched in Provident and Health insurance
2010, already making a significant contribution (10.6%) to
Provident and Health insurance revenues
411 458
Contribution of Insurance to the group’s income 249 292
before tax: €172m in 2011 vs. €182m in 2010
Dec. 2010 Dec. 2011 Dec. 2010 Dec. 2011
Revenues (€m) Gross sales (thousands)
Unless specified to the contrary, all changes are vs. 2010
1 The entities included within the scope of the segment information of the Insurance Division are the majority equity interest in BPCE Assurances and the minority interest in CNP Assurances
(accounted for using the equity method)
February 23, 2012 Results for the full year and 4th quarter of 2011 22
23. 2. Commercial Banking and Insurance
International
International Business activity indicators
Principal entity contributing to this core business line: BPCE International et Outre-mer
Savings deposits (in €bn)
Development of retail banking activities
in the international market
> Acquisition of 75% of BMOI (Banque Malgache de l’Océan 7.1 7.3
Indien) and a 19.4% interest in BNDA
(Banque Nationale de Développement Agricole du Mali) 2.5 2.6
4.6 4.7
Savings deposits: + 3.6%
> Favorable movement towards on-balance sheet products
(+ 7.5%) Dec. 2010 Dec. 2011
> Good performances on the corporates segment : Corporate customers
outstandings (+ 6.3%) Individual and professional customers
Loan outstandings: + 6.4% Loan outstandings (in €bn)
> Dynamic credit activity across all segments:
short-term credit facilities (+ 16%), real estate (+ 5.1%), 8.6 9.1
equipment (+ 4.8%)
5.1 5.5
Contribution of International activities to the
group’s income before tax: €72m in 2011 3.5 3.6
vs. €73 m in 2010
Dec. 2010 Dec. 2011
Corporate customers
Individual and professional customers
Unless specified to the contrary, all changes are vs. 2010
February 23, 2012 Results for the full year and 4th quarter of 2011 23
24. 2. Commercial Banking and Insurance
Other networks
Other networks Business activity indicators
Principal entity contributing to this core business line : Banque Palatine
Savings deposits1 (in €bn)
Customer base 13.2
> Dynamic development of customer portfolio, 12.2
mainly medium-sized and mid-cap companies 5.6
> Number of new high net worth individual customers: 5.8
+ 8.9%
6.4 7.6
Savings deposits1: + 8.1%
> Strong growth in on-balance sheet savings (+ 18.7%)
driven by growing demand deposits Dec. 2010 Dec. 2011
Financial savings
On-balance sheet savings
Loan outstandings1: + 5.8%
> Strong growth in medium/long term loans to corporates
(+ 8.3%)
Loan outstandings1 (in €bn)
Contribution of Other networks to the group’s
income before tax: €134m in 2011 6.0 6.3
vs. €80m in 2010
4.2 4.6
1.8 1.7
Dec. 2010 Dec. 2011
Specialized markets
Retail banking
Unless specified to the contrary, all changes are vs. 2010 1 Average figures
February 23, 2012 Results for the full year and 4th quarter of 2011 24
25. 2. Natixis core business lines: CIB, Invest. Solutions, SFS
2011 / Q4-11 /
in millions of euros 2011 Q4-11
2010 Q4-10
Net banking income 5,795 - 1.6% 1,408 - 6.6%
CIB 2,760 - 8.8% 588 - 19.7%
Investment Solutions 1,884 + 5.3% 529 + 6.0%
SFS 1,151 + 7.2% 292 + 5.0%
Operating expenses - 3,831 + 1.8% - 960 - 4.6%
Gross operating income 1,964 - 7.7% 448 - 10.8%
Cost/income ratio 66.1% + 2.2 pts 68.2% + 1.5 pt
Cost of risk - 183 - 34.2% - 51 + 21.4%
Income before tax 1,797 - 4.7% 403 - 15.5%
Income tax - 531 + 7.9% - 119 + 21.4%
Minority interests - 378 - 10.0% - 94 - 16.1%
Net income attributable to
888 - 8.7% 190 - 28.8%
equity holders of the parent
ROE 17% = 14% - 7 pts
Contribution figures ≠ figures published by Natixis
February 23, 2012 Results for the full year and 4th quarter of 2011 25
26. 2. Natixis core business lines: CIB, Invest. Solutions, SFS
CIB: limited decline in 2011 revenues thanks to a good 1st half year
Financing activities Revenues1 (€m)
1,742
1,599
Commercial Banking 523 400
> 24% decline in 2011 revenues vs. 2010, reflecting
greater business selectivity, negative economic
conditions and increased liquidity costs
453 1,219 1,199
406 376
Structured Financing 119 98 88
> Revenues nearly stable in 2011 vs. 2010
334
308 288
Q4-10 Q3-11 Q4-11 2010 2011
Commercial Banking
Structured Financing
Capital markets Revenues1 (€m)
1,442
Fixed Income and Treasury business 372
Good resilience of business activities in 2011 1,194
609
> Rebound in Q4-11: good performance in Forex, Interest
426
rate and Credit activities, and slightly higher customer 215
209
volumes vs. Q3-11
139 51
833 768
Equities and Corporate Solutions 163 72
> Decline in revenues generated by activities sharply 67 164
impacted by the market environment: very low client
business in 2011 Q4-10 Q3-11 Q4-11 2010 2011
Equities & Corporate Solutions
Interest rate, Foreign exchange, Commodities and Treasury
Unless specified to the contrary, all changes are vs. 2010
1 Structured Financing revenues of €15m for 2011, €8m for Q4-11 and €2m for Q3-11 are reclassified in Equity & Corporate Solutions revenues for the same period
February 23, 2012 Results for the full year and 4th quarter of 2011 26
27. 2. Natixis core business lines: CIB, Invest. Solutions, SFS
Invest. Solutions: positive net inflows in 2011, revenues up vs. 2010
Asset Management Assets under management (€bn)
Net inflows of €3.7bn for full-year 2011 + 3.7 + 6.6 + 5.1
> Expertise in USD: further inflows, $3.0bn in Q4-11 from
the US and $17.2bn in 2011 from the US and Asia - 9.4 - 28
> Expertise in Euros: negative impact from the markets and
the regulatory environment (liquidity) led to a €5.1bn
outflow in Q4-11. Full-year outflow of €9.5bn (€5.2bn 538 544
excl. money market assets). NAM resisted well in the
French market
Net revenues: €1,436m, + 5% in constant $ Dec. 2010 Net Currency Market Change Dec. 2011
vs. 2010 inflows effect effect in
perimeter
Natixis Assurances Assets under management (€bn)
Positive net inflows of €0.6bn in 2011
> Portfolio up 3% to €37.7bn in 2011
Personal Protection
> Strong growth in revenues (+ 20%), fuelled by strong
commercial momentum in the networks 36.5 37.7
Net revenues: €264m, + 24% in 2011 vs. 2010
> Personal Protection business: 40% of total revenues
Dec. 2010 Dec. 2011
Unless specified to the contrary, all changes are vs. 2010
February 23, 2012 Results for the full year and 4th quarter of 2011 27
28. 2. Natixis core business lines: CIB, Invest. Solutions, SFS
SFS: good performance in Q4-11 and in 2011 as a whole
Specialized Financing1 Business activity indicators
Q4-11 Q4-10 % change
Further growth in Consumer Finance, Leasing Consumer Finance
and Factoring activities Loan outstandings in €bn 11.3 10.0 + 13.0%
(end of period)
Leasing
Sureties and Financial Guarantees
Loan outstandings in €bn 11.7 11.2 + 4.6%1
> Slower mortgage issuance impacted written premiums (end of period)
Factoring
Net revenues: €588m, + 11% in 2011 vs. 2010 Loan outstandings in France 4.0 3.5 + 15.4%
in €bn (end of period)
Sureties and Financial
Guarantees 54.2 64.5 - 16.0%
Gross premiums issued in €m
Financial Services2
Payments business Q4-11 Q4-10 % change
> Substantial increase in transactions, largely fuelled by the
increase in the number of cards used Payments
854 789 + 8.0%2
Transactions in millions
Securities Services business
> Decline in retail business depressed the level of activity Securities Services
2.6 3.2 - 18.0%
Transactions in millions
Employee Savings Schemes Employee Savings Schemes
> Despite net inflows of €1,209m during the year, marginal Assets under management 17.6 17.9 - 1.3%
contraction of Employee Benefits Planning outstandings in €bn (end of period)
related to the market environment
Net revenues: €541m, stable in 2011 vs. 2010 1 Pro forma of the inclusion of Cicobail and Océor Lease in 2010 and including the
impact of GCE Car Lease
2 Pro forma of the inclusion of GCE Paiements in 2010
Unless specified to the contrary, all changes are vs. 2010
February 23, 2012 Results for the full year and 4th quarter of 2011 28
29. 2. Equity interests
2011 / Q4-11 /
in millions of euros 2011 Q4-11
2010 Q4-10
Net banking income 1,720 - 0.1% 430 - 17.0%
Operating expenses - 1,460 + 0.5% - 404 - 2.2%
Gross operating income 260 - 3.3% 26 - 75.2%
Cost of risk - 34 = - 11 - 31.3%
Share of income of associates - 112 ns - 113 ns
Income before tax 107 - 52.0% - 101 ns
Income tax - 110 + 2.8% - 28 - 6.7%
Minority interests - 78 + 8.3% - 13 - 51.9%
Net income attributable to
- 81 ns - 142 ns
equity holders of the parent
The Eurosic and Foncia equity interests were reclassified under “Other businesses” on June 30, 2011.
Groupe BPCE sold part of its equity interest in Volksbank International AG (previously attributed to the Commercial Banking and Insurance entity) on February 15, 2012.
On December 31, 2011, the financial items corresponding to the businesses in the process of divestment were reclassified under “Other Businesses” and the businesses not subject to divestment
were attributed to the Equity interests business line.
The segment information of Groupe BPCE has been restated accordingly for the periods in question.
February 23, 2012 Results for the full year and 4th quarter of 2011 29
30. 2. Equity interests
Coface Coface revenues (in €m)
Revenues: + 8.2%1, stable in Q4-11 vs. 413 421 431 447
414
Q4-10
> Credit insurance: revenues + 3%1 in Q4-11 vs. Q4-10
330 342 349 347 3 72
Claims ratio2: 55.1% in 2011, marginally down
vs. 2010
84 79 82 67 75
Income before tax: €98m in 2011, + 14%
vs. 2010, despite a Q4-11 depressed by exceptional Q4 - 10 Q 1- 11 Q 2 - 11 Q 3 - 11 Q 4 - 11
negative items Factoring and services Credit insurance
Nexity Nexity revenues breakdown in 2011
Strong growth in order book backlog: + 21%
vs. December 31, 2010, equivalent to 19 months
development activity
67%
> Market share growth in residential activity and exceptional
orders booked in corporates real estate 12%
2011 revenues: €2,603m, in line with estimates
21%
Housing: net reservations of new housing units in
France close to 2010 level
Housing
Services
Services and distribution
1 On a like-for-like basis (reporting entity and foreign exchange)
2 A new method for calculating the claims ratio has been used since Q3-11. The ratio includes operating expenses related to claims management
February 23, 2012 Results for the full year and 4th quarter of 2011 30
31. Contents
1. Results of Groupe BPCE
2. Results of the core business lines
3. Capital adequacy and liquidity
Adapting the group to its new environment
February 23, 2012 Results for the full year and 4th quarter of 2011 31
32. 3. Capital adequacy and liquidity: major progress in
adapting the group to its new environment
Intensification of the
Changes in the regulatory
strategy to reduce Result
and financial environment
the risk profile
110 basis-point improvement in
Capital adequacy requirements the Core Tier-1 ratio2 in 2011, with
Setting of new capital adequacy continued growth in lending
stepped up at the end of 2011 targets to reach a Basel 3 Tier-1
(Basel 2.5) and in 2013 (Basel 3) Basel 2.5 Core Tier-1 ratio of
Common Equity ratio > 9% in
Deadline of June 30, 2012 fixed by 9.1%3 as of Dec. 31, 2011
2013 (without transitional
the European Banking Authority, measures1) Capital shortfall – cf. EBA’s June
with a sovereign buffer 30, 2012 deadline - cut from
€3.7bn4 to €0.7bn in one quarter
Increase in on-balance sheet
Increase in on-balance sheet deposits in 2011: + 8.8% for the
deposits continued in the retail Banque Populaire banks and
Increased liquidity networks + 8.5% for the Caisses d’Epargne
requirements (Basel 3) Reduction in the group’s liquidity
Setting of a debt-reduction target requirements of €11bn in the 2nd
of €25bn to €35bn for the group half of 2011: 1/3 of the objective
by the end of 2013 already completed
Pressure on liquidity and 23% reduction in 2012 of the
refinancing following the sovereign Adaptation of the medium/long- medium/long-term wholesale
debt crisis term issuing program and funding plan / MLT networks’
reduction of short-term funding plan multiplied by 2 / 38%
requirements in USD reduction in short-term USD needs
in the 2nd half of 2011
1 After restating deferred tax assets 2 While moving from Basel 2 to Basel 2.5 3 Estimate at December 31, 2011 4 Calculated using the EBA’s stress tests method of December 8, 2011
February 23, 2012 Results for the full year and 4th quarter of 2011 32
33. 3. Strong growth in the group’s capital adequacy:
Core Tier-1 ratio up 350 bp since June 2009
9 .1%
8 .6 %
8 .0 %
7 .4 %
6 .9 %
6 .4 %
6 .7 %
5 .6 % 6 .2 % 3 4 .6 3 5 .4
3 1.7 3 1.9
2 8 .5 3 .0
2 6 .3
3 .0
3 .0
1 2
30/ 06/ 09 3 1/ 12 / 0 9 3 0 / 0 6 / 10 3 1/ 12 / 2 0 10 3 0 / 0 6 / 2 0 11 3 1/ 12 / 2 0 11
Tempo rary injectio n o f regulato ry capital made by the French State (€ bn)
Co re Tier-1capital (€ bn)
3
Co re Tier-1ratio - Excl. tempo rary injectio n o f regulato ry capital made by the French State
3
Co re Tier-1ratio
1 31/12/2010 – Capital and ratios pro forma of the full reimbursement of the French State 2 Estimate at Dec. 31, 2011 3 Excluding floor effect
February 23, 2012 Results for the full year and 4th quarter of 2011 33
34. 3. Risk-weighted assets
Change in risk-weighted assets1 (in €bn) Breakdown of risk-weighted assets
60%
414 June 2009 29%
411 406
399
390 7%
4%
67%
30/06/09 31/12/09 31/12/10 30/09/11 31/12/11
December 2011
26%
4%
3%
Commercial Banking and Insurance GAPC
Natixis (excl. GAPC) Other
1 Risk-weighted assets excluding the floor effect - Estimate at Dec. 31, 2011
February 23, 2012 Results for the full year and 4th quarter of 2011 34
35. 3. Basel 2.5 Core Tier-1 ratio of 9.1%1 at Dec. 31, 2011
Capital shortfall cut from €3.7bn2 to €0.7bn in one quarter
Capital shortfall cut by €3bn in Q4-11
EBA4 target at June 30, 2012
to meet EBA4 target at June 30, 2012
Additional capital
shortfall of €0.7bn
+ 20 bp
+ 45 bp
- 25 bp
- 15 bp
9.1%1 > 9.25% > 9%
8.6%3
Core Tier-1 ratio Basel 2.5 impact Core Tier-1 ratio Core Tier-1 ratio EBA4
at Sept. 30, 2011 at Dec. 31, 2011 at June 30, 2012 core Tier-1 ratio
at June 30, 2012
Sovereign
Change to advanced Retained earnings,
buffer
internal rating activity change
method (Basel 2) and issue of
for certain portfolios cooperative shares
1 Estimate at Dec. 31, 2011 2 Calculated using the EBA’s stress tests method of December 8, 2011
3 Pro forma to account for the deeply subordinated note buy-back operation completed in October 2011 4 European Banking Authority
February 23, 2012 Results for the full year and 4th quarter of 2011 35