BPCE - 2018 Registration document
5 FINANCIAL REPORT
IFRS Consolidated Financial Statements of Groupe BPCE as at December 31, 2018
Note 12
Other information
SEGMENT REPORTING 12.1 The Group has three core businesses: Retail Banking and Insurance, which includes:
Wealth Management, with Natixis Wealth Management, which ● offers wealth management and financing solutions for large private-sector investors. Corporate & Investment Banking, a division of Natixis: Corporate & Investment Banking advises and supports corporates, ● institutional investors, insurance companies, banks and public sector entities. The Corporate center, which primarily includes: the Group’s central institution and holding companies; ● Natixis’ equity interests in Coface, Corporate Data Solutions, Natixis ● Algérie and Natixis Private Equity; unlisted investments and cross-business activities; ● items related to goodwill impairment and the amortization of ● valuation differences, as these items form part of the Group’s acquisition and investment strategy; the contribution to the Single Resolution Fund and the Deposit ● Guarantee Fund.
the Banque Populaire network, comprising the 14 Banque Populaire ● banks and their subsidiaries, Crédit Maritime Mutuel, and the Mutual Guarantee Companies; the Caisse d’Epargne network, consisting of the 15 Caisses ● d’Epargne; Specialized Financial Services (SFS), a Natixis business line ● encompassing specialized financing activities (factoring, leasing, consumer credit, sureties and financial guarantees), payments and financial services; Insurance, a Natixis business line serving the Groupe BPCE ● networks and their customers; Other networks, which comprise Crédit Foncier group, BPCE ● International (BPCE I) and Banque Palatine. Asset & Wealth Management, a Natixis business line consisting of: Asset Management, which operates on several international ● markets, combining expertise in investment management and distribution; Segment analysis of the consolidated income statement 12.1.1 Results by division*
Retail Banking and Insurance
Asset & Wealth Management
Corporate & Investment Banking
Corporate center
Groupe BPCE
2018
2018 3,419 (2,264) 1,154
2018 3,237 (2,193) 1,045
2018
2018
2017 pf 16,683 (11,494)
2017
2017
2017 pf
2017
in millions of euros Net banking income Operating expenses
16,795 (11,772)
3,113 (2,178)
3,581 (2,194) 1,387
550
342
24,001 (17,687)
23,720 (17,099)
(1,458)
(1,233)
6,314
6,621
Gross operating income
5,023
5,189
936
(908)
(891)
Cost/income ratio
70.1% 68.9% 66.2% 69.9% 67.7% 61.3%
ns
ns
73.7% 72.1%
Cost of risk
(1,072)
(1,105)
(1)
-
(175)
(115)
(51)
(164)
(1,299)
(1,384)
Share in income of equity-accounted associates Gains or losses on other assets Change in the value of goodwill
44
49
3
1
12
10 18
226
216
284
276
(40)
(29)
43
13
3
9
86
15
88
-
-
-
-
-
-
(16)
(85)
(16)
(85)
5,297 (1,477)
5,516
Income before tax
3,956
4,104
1,198 (323) (415)
950
884
1,300 (380) (269)
(742)
(838)
Income tax
(1,289)
(1,334)
(329) (276)
(235) (194)
370 (14)
232
(1,811)
Non-controlling interests
(170)
(136)
1
(793)
(681)
NET INCOME ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT Transition from pro forma to reportable net income
2,496
2,634
460
345
455
651
(386)
(605)
3,026
3,024
(8)
8
REPORTABLE NET INCOME ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT *
2,496 3,024 2017 segment information for Groupe BPCE is stated pro forma of the transfer of Ouest Croissance from the Corporate center to the Banque Populaire network (Retail Banking and Insurance division). * 2 634 460 345 455 651 (386) (605) 3,026
364
Registration document 2018
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