BPCE - 2019 Universal Registration Document

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ACTIVITIES AND FINANCIAL INFORMATIONS 2019

GROUPE BPCE FINANCIAL DATA

Corporate Center 4.3.7

Corporate Center

Chg. 2019/2018 pf

2019

2018 pf

€m

%

in millions of euros

Net banking income Operating expenses

891

1,166

(275)

(23.6%) (14.0%) (4.4%) (84.2%) (7.7%) (86.1%) (9.0%)

(2,011) (1,121)

(2,339) (1,173)

328

Gross operating income

52

Cost of risk

(20) 209

(125)

105 (17)

Share in income of equity-accounted associates

226 (32)

Gains or losses on other assets

(4)

28

Income before tax

(1,020)

(1,121)

101

The Corporate center generated income before tax of -€1,020 million in 2019 versus -€1,121 million in 2018 (pro forma). This figure included the following activities and items in 2019: the contribution of Crédit Foncier, which rose by €369 million, • 2018 having been impacted by a provision for the restructuring of Crédit Foncier; the contribution of BPCE International, which increased by • 39.2% year-on-year, despite the slowdown in activity and the sale of the equity holdings in Africa in Banque Internationale du Cameroun pour l’Épargne et le Crédit, Banque Malgache de l’Océan Indien and Banque Commerciale Internationale in Republic of Congo; Natixis’ equity interests, primarily including Coface. Its annual • revenue came to €1.5 billion, an increase of 7% at current exchange rates versus 2018 (+6% at constant exchange rates and scope), driven by all geographical areas thanks to a record customer retention level and an improvement in new business

especially in mature markets. The loss ratio net of reinsurance was 45.0%, stable in relation to 2018. The combined ratio net of reinsurance was 77.7%, an improvement of 1.9 pt due to the positive change in the net cost ratio (-1.8 pt). It should also be noted that Natixis Private Equity continued its withdrawal strategy in 2019 with a divestment from commitments of 19%; the contribution of €227 million by CNP Assurances, up • €7 million (+3.3%); the contribution to the Single Resolution Fund of -€376 million • in operating expenses, an increase of -€37 million compared with 2018; the impact of asset impairments totaling -€84 million; • finally, the division included the contributions of the Group’s • central institution, BPCE SA group, and Natixis’ Corporate Center, income from private equity activities and from various other investment companies, central resource or support companies, and property management companies.

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UNIVERSAL REGISTRATION DOCUMENT 2019 | GROUPE BPCE

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