BPCE - 2019 Universal Registration Document
ACTIVITIES AND FINANCIAL INFORMATIONS 2019
BPCE SA GROUP FINANCIAL DATA
BPCE SA group financial data 4.4
4.4.1
BPCE SA group results
BPCE SA group’s income is calculated after restating the contribution of non-consolidated entities. In 2019, the transition from Groupe BPCE’s net income to BPCE SA group’s net income can be broken down as follows:
2019
in millions of euros
Groupe BPCE net income
3,030
Entities not consolidated or consolidated under a different method (1)
(2,397)
Other items
(10) 623
BPCE SA group net income (pf)
Including the Banques Populaires, Caisses d’Epargne and their consolidated subsidiaries. (1)
BPCE SA group recorded net income attributable to equity holders of the parent of €623 million in 2019, down by €125 million compared to 2018 mainly owing to the continuation of strategic and group transformation projects launched during the last year.
Corporate & Investment Banking
4
Retail Banking and Insurance
Asset & Wealth Management
Corporate Center
BPCE SA group
2019 pf
2018 pf
2019 2018 pf
2019 2018 pf
2019 2018 pf
2019 pf
2018 pf
in millions of euros
Net banking income Operating expenses
2,790
2,557
3,760
3,513
3,337
3,266
1,168
1,332 11,054 10,668
(1,818)
(1,662)
(2,492)
(2,343)
(2,235)
(2,202)
(2,275)
(2,506) (1,175)
(8,820)
(8,713)
Gross operating income
971
895
1,268
1,170
1,102
1,064 (1,107)
2,234
1,954
Cost/income ratio
65.2% 65.0% 66.3% 66.7% 67.0% 67.4% ns
ns
79.8% 81.7%
Cost of risk
(149)
(67)
(8)
(2)
(312)
(174)
(22)
(125)
(491)
(368)
Share in income of equity-accounted associates Gains or losses on other assets Change in the value of goodwill
11
15
1
3
10
12
209 (12) (78)
219 (42) (16)
231
248
7
1
13
43
(15)
3
(7)
4
(78)
(16)
Income before tax
841
843
1,273 (353) (447)
1,214 (328) (418)
786
904 (1,010)
(1,139)
1,890 (569) (698)
1,822 (372) (702)
Income tax
(276)
(255)
(212) (176)
(241) (199)
272
452
Non-controlling interests (minority interests) NET INCOME ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT
(78)
(81)
3
(3)
487
507
473
468
397
464
(735)
(692)
623
747
Retail Banking and Insurance recorded a -€19 million decline in net income attributable to equity holders of the parent versus 2018. The Asset & Wealth Management division posted net income of €473 million, an increase of 1.1% on 2018, underpinned by the growth in performance fees charged by European and US asset management companies.
Corporate & Investment Banking posted net income of €397 million, a decrease of 14.3% on 2018. The Corporate center’s net income attributable to equity holders of the parent included the contributions of the BPCE SA group central institution, Natixis, Groupe Crédit Foncier and BPCE International, as well as the -€202 million contribution to the Single Resolution Fund.
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UNIVERSAL REGISTRATION DOCUMENT 2019 | GROUPE BPCE
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