NATIXIS - Universal registration document and financial report 2019

FINANCIAL DATA Consolidated financial statements and notes

10.7

Segment information

10.7.1

Segment reporting in the income statement

At December 31, 2019

31/12/2019

Corporate & Investment Banking

Asset & Wealth Management (b)

Financial Investments

Corporate Center (c)(d)

Insurance

Payment

Total

(in millions of euros)

Net revenues

3,760

3,223

846

423

772

195

9,219

2018/2019 change (a)

10%

3%

7%

(4)%

Expenses

(2,492)

(2,170)

(478)

(370)

(561)

(584)

(6,655)

2018/2019 change (a)

10%

2%

7%

(2)%

Gross operating income

1,268

1,053

368

52

211

(388)

2,564

2018/2019 change (a)

10%

6%

8%

(8)%

Provision for credit losses

(8)

(312)

0

(2)

(10)

1

(332)

2018/2019 change (a)

78%

55%

Net operating income

1,260

741

368

50

201

(388)

2,232

2018/2019 change (a)

9%

(9)%

8%

(13)%

Associates

1

10

10

0

0

0

21

2018/2019 change (a)

(68)%

(10)%

(32)%

(27)%

Other

5

(15)

0

0

7

695

692

2018/2019 change (a)

(87)%

Pre-tax profit

1,266

737

378

50

208

307

2,945

6%

(11)%

6%

11%

2018/2019 change (a)

Net income (Group share)

662

527

258

34

50

365

1,897

2018/2019 change (a)

6%

(11)%

6%

11%

5

This information is determined based on the accounting principles applied in accordance with IFRS as adopted by the European Union at December 31, 2019.

(a) (b)

Change between December 31, 2019 and December 31, 2018.

O/w for Asset Management: - Net revenues: €3,511 million; - expenses: -€2,253 million;

- gross operating income: €1,258 million; - provision for credit losses: -€6.5 million;

- pre-tax profit: €1,257 million. O/w for short-term treasury: - net revenues: €114 million; expenses: -€65 million;

(c)

- gross operating income: €49 million; - provision for credit losses: €0 million; - pre-tax profit: €49 million. Net revenues and operating expenses attributable to the Corporate Center include the residual impact of the activities sold to BPCE in the first quarter, subsequent to their deconsolidation at March 31, 2019. The impact on (d) net revenues came to €22.3 million and the impact on operating expenses amounted to €22.5 million , both are primarily related to EuroTitres

(in millions of euros)

Net revenues

2018/2019 change

Asset & Wealth Management

3,760

10%

Asset Management

3,511

7% 3% 6% 3%

Wealth Management

149 100

Employee Savings

Corporate & Investment Banking

3,223 1,396 1,803

Capital Markets (a)

15%

Global finance & Investment banking

1%

Other

24

(56)%

Insurance

846 423 772 195

7%

Payment

Financial Investments

Corporate Center

TOTAL

9,219

(4)%

Of which €1,535 million excluding the net revenues of the XVA desks, which break down into €1,118 million in net revenues for FICT and €417 million in net revenues for Equities. (a)

345

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2019