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