BPCE - 2019 Universal Registration Document

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ACTIVITIES AND FINANCIAL INFORMATIONS 2019

GROUPE BPCE FINANCIAL DATA

Asset & Wealth Management, a Natixis business line consisting of: Asset Management, which operates on several international • markets, combining expertise in investment management and distribution; Wealth Management, with Natixis Wealth Management, • which offers wealth management and financing solutions for large private-sector investors; employee savings with “Natixis Interépargne”, a top-tier • player in employee savings plan management in France which has been included in the Asset & Wealth Management division; Corporate & Investment Banking, a division of Natixis: Corporate & Investment Banking advises and supports • corporates, institutional investors, insurance companies, banks and public sector entities. Financing of the cinema industry was included in the Corporate & Investment Banking division in 2019.

The Corporate Center, which primarily includes: the Group’s central institution and holding companies; • Natixis’ equity interests in Coface, Natixis Algérie and Natixis • Private Equity; the run-off activities of Crédit Foncier and BPCE International; • 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. • Segment reporting for Groupe BPCE has been restated accordingly for previous reporting periods and also takes account of the transfer of the subsidiaries Banque de Tahiti, Banque de Nouvelle Calédonie, Société Havraise de Calédonie from Groupe BPCE International to the Caisse d’Epargne network and INGEPAR from Groupe BPCE International to the Banque Populaire network.

Income statement by sector (1) 4.3.3

Corporate & Investment Banking

Retail Banking and Insurance

Asset & Wealth Management

Corporate Center

Groupe BPCE

2019 2018 pf

2019 2018 pf

2019 2018 pf

2019 2018 pf

2019 2018 pf

in millions of euros

Net banking income Operating expenses

16,317 16,056

3,760

3,513

3,337

3,266

891

1,166 24,305 24,001

(10,844)

(10,803)

(2,492)

(2,343)

(2,235)

(2,202)

(2,011)

(2,339) (1,173)

(17,582)

(17,687)

Gross operating income

5,473

5,253

1,268

1,170

1,102

1,064 (1,121)

6,722

6,314

Cost/income ratio

66.5% 67.3% 66.3% 66.7% 67.0% 67.4% ns

ns

72.3% 73.7%

Cost of risk

(1,028)

(999)

(8)

(2)

(312)

(174)

(20)

(125)

(1,367)

(1,299)

Share in income of equity-accounted associates Gains or losses on other assets Change in the value of goodwill

45

44

1

3

10

12

209

226 (32) (16)

265

284

8

2

13

43

(15)

3

(4)

1

15

(84)

(84)

(16)

Income before tax

4,499

4,300

1,273 (353) (447)

1,214 (328) (418)

786

904 (1,020)

(1,121)

5,538

5,297

Income tax

(1,476)

(1,367)

(212) (176)

(241) (199)

241

460 (1,801)

(1,477)

Non-controlling interests (minority interests) NET INCOME ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT

(87)

(90)

3

(7)

(707)

(714)

2,936

2,842

473

468

397

464

(776)

(669)

3,030

3,105

Net banking income for the Group’s three business divisions contribution of Retail Banking and Insurance to net banking increased by 2.5% compared to 2019, reflecting solid income, as compared to the contribution of the Group business performances by Asset Management, coupled with resilient lines, was 70% versus 16% for Asset & Wealth Management earnings by Retail Banking and Insurance despite the and 14% for Corporate & Investment Banking. persistently low interest rate environment. The relative

(1) Segment reporting for 2018 is stated pro forma of the transfer of Specialized Financing to BPCE SA, with an impact on non-controlling interests and net income attributable to the equity holders of the parent of €79 million.

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UNIVERSAL REGISTRATION DOCUMENT 2019 | GROUPE BPCE

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