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Results for full-year 2013
February 19, 2014
Results for full-year 2013 February 19, 2014 2
This presentation may contain forward-looking statements and comments relating to the objectives and strategy of Groupe BPCE. By their very nature, these forward-looking statements inherently depend on assumptions, project considerations, objectives and expectations linked to future events, transactions, products and services as well as on suppositions regarding future performance and synergies.
No guarantee can be given that such objectives will be realized; they are subject to inherent risks and uncertainties and are based on assumptions relating to the Group, its subsidiaries and associates and the business development thereof; trends in the sector; future acquisitions and investments; macroeconomic conditions and conditions in the Group’s principal local markets; competition and regulation. Occurrence of such events is not certain, and outcomes may prove different from current expectations, significantly affecting expected results. Actual results may differ significantly from those anticipated or implied by the forward-looking statements. Groupe BPCE shall in no event have any obligation to publish modifications or updates of such objectives.
Information in this presentation relating to parties other than Groupe BPCE or taken from external sources has not been subject to independent verification; the Group makes no statement or commitment with respect to this third-party information and makes no warranty as to the accuracy, fairness or completeness of the information or opinions contained in this presentation. Neither Groupe BPCE nor its representatives shall be held liable for any errors or omissions or for any harm resulting from the use of this presentation, the content of this presentation, or any document or information referred to in this presentation.
The financial information presented in this document relating to the fiscal period ended December 31, 2013 has been drawn up in compliance with IFRS guidelines, as adopted in the European Union.
The consolidated financial statements of Groupe BPCE for the fiscal period ended December 31, 2013 approved by the Management Board at a meeting convened on February 13, 2014, were verified and reviewed by the Supervisory Board at a meeting convened on February 19, 2014.
This presentation includes financial data related to publicly-listed companies which, in accordance with Article L. 451-1-2 of the French Monetary and Financial Code (Code Monétaire et Financier), publish information on a quarterly basis about their total revenues per business line. Accordingly, the quarterly financial data regarding these companies is derived from an estimate carried out by Groupe BPCE. The publication of Groupe BPCE’s key financial figures based on these estimates should not be construed to engage the liability of the abovementioned companies.
The audit procedures relating to the consolidated financial statements for the year ended December 31, 2013 have been substantially
completed. The reports of the statutory auditors regarding the certification of these consolidated financial statements will be published
following the verification of the Management Report and the finalization of the procedures required for the registration of the reference document.
Notes on methodology
The operation whereby the Banque Populaire banks and Caisses d’Epargne bought back and subsequently cancelled the cooperative
investment certificates (CICs) held by Natixis was completed on August 6, 2013. The financial results are presented pro forma to account for
this CIC buy-back operation, which involves the reimbursement of related funding and mechanisms, on the following basis:
-Organization of the CIC buy-back operation as at January 1, 2012,
-Reimbursement of P3CI (loan covering the CICs) and completion of other related operations as at January 1, 2012,
-Replacement of liquidity by Natixis and the exceptional distribution to Natixis shareholders of a dividend of approximately €2 billion as at
January 1, 2012.
As of Q2-13, regulatory capital is allocated to Groupe BPCE business lines on the basis of 9% of their Basel 3 average risk-weighted assets.
The capital allocation specific to the Insurance businesses is replaced by the Basel 3 treatment for investments in insurance companies, as
transposed in CRR/CRD IV (the consolidated value of listed and unlisted companies being risk weighted at 290% and 370% respectively).
The segment information of Groupe BPCE has been restated accordingly for previous reporting periods.
Disclaimer
Results for full-year 2013 February 19, 2014 3
Robust Groupe BPCE performance in 2013 with continuing moderate risk profile and major gains in capital adequacy
Common Equity Tier-1 ratio under Basel 36: 10.4%, +150 bp in 2013
Overall capital adequacy ratio under Basel 36,7: 13.4%, +180 bp in 2013
Leverage ratio under Basel 3 in excess of 3.6%6
Group’s loan-to-deposit ratio8: -4 pts in 2013 to 124%
MLT funding helping to achieve a 100% LCR in early 2015
o €32.2bn9 raised in the 2013 MLT funding plan (153%) for the Group as a whole; €7.1bn raised as of Feb. 5, 2014 in the BPCE MLT funding pool (28% of the 2014 funding plan)
Continuous, regular strengthening of the balance sheet
Revenues from the core business lines: €21.6bn1, +4.6% vs. 2012
Commercial Banking and Insurance: revenues of €15.2bn, +3.9%2 vs. 2012, a remarkable achievement in a sluggish economic environment
o Growth in on-balance sheet deposits and savings +9.9%3 and loan outstandings +6.1%4
Core business lines of Natixis: revenues of €6.4bn, +5.0% vs. 2012 o Extremely strong dynamism of key franchises
Very strong commercial dynamism of the core business lines
Strong growth net income1,5 attributable to equity holders of the parent in 2013: €2.9bn, +26.2% vs. 2012
Cost/income ratio of the core business lines: 65.9%, -2.3 pts vs. 2012
Cost of risk kept to a moderate level in 2013: annual average of 35 bp (-2 bp vs. 2012)
Robust 2013 results
1 Results pro forma of the buyback and subsequent cancellation by the Banque Populaire banks and the Caisses d’Epargne of the Cooperative Investment Certificates (CICs) held by Natixis 2 Excluding changes in provisions for
home purchase savings schemes 3 Banque Populaire and Caisse d’Epargne networks, excluding centralized savings products 4 Banque Populaire and Caisse d’Epargne networks 5 Excl. the revaluation of own debt 6 Estimate at
Dec. 31, 2013 – CRR/CRD IV, as applied by Groupe BPCE; without transitional measures and after restatement to account for deferred tax assets 7 Pro forma to account for the $1.5bn issue at the beginning of January 2014 8 Excluding SCF (Compagnie de Financement Foncier, the Group’s société de crédit foncier – a French legal covered bonds issuer) 9 Including €5.4bn raised in excess of the 2012 plan and allocated to the 2013 plan
Results for full-year 2013 February 19, 2014 4
Contents
1. Results of Groupe BPCE
2. Capital adequacy and liquidity
3. Results of the business lines
4. Core business lines: gaining momentum with
the new strategic plan
5. Conclusion
Results for full-year 2013 February 19, 2014 5
1. Groupe BPCE full-year 2013 results Net income attributable to equity holders of the parent1: +26.2%, to €2.9bn
Results pro forma of the buyback and subsequent cancellation by the Banque Populaire banks and the Caisses d’Epargne of the Cooperative Investment Certificates (CICs) held by Natixis 1 Excluding the revaluation of own debt for Group results 2 Commercial Banking & Insurance, Wholesale Banking, Investment Solutions and Specialized Financial Services
Focus on the core business lines
Strong revenue growth: +4.6%
Operating expenses under tight control: +1.1%
Gross operating income1 up 12.2%; 2.3-point reduction in the cost/income ratio
Pro forma results 2013 /
In millions of euros 2012
% change
Net banking income1 23,080 3.3%
Operating expenses -16,135 1.3%
Gross operating income 1 6,944 8.2%
Cost / income ratio 69.9% -1.4 pt
Cost of risk -2,042 -7.2%
Income before tax1 5,143 23.9%
Net income attributable to equity holders of the parent excluding
the revaluation of own debt2,914 26.2%
Impact of the revaluation of own debt on net income -123
Net income attributable to equity holders of the parent 2,791 32.1%
ROE 5.7% 1.2 pt
2013
2013 /
2012
% change
-14,254 1.1%
7,375 12.2%
65.9% -2.3 pts
-1,953 9.3%
5,666 13.3%
3,313 12.9%
9% 1 pt
4.6%
- -
Core
business
lines2
2013
21,629
Results for full-year 2013 February 19, 2014 6
1. Groupe BPCE Q4-13 results Fine performance achieved by the core business lines: net income attributable to equity holders of the parent +10.9%
Results pro forma of the buyback and subsequent cancellation by the Banque Populaire banks and the Caisses d’Epargne of the Cooperative Investment Certificates (CICs) held by Natixis 1 Excluding the revaluation of own debt for Group results 2 Commercial Banking & Insurance, Wholesale Banking, Investment Solutions and Specialized Financial Services
Focus on the core business lines
Strong revenue growth: +4.8%
Decline in operating expenses: -1.1%
Positive scissors effect on gross operating income, up by 18.4%; 3.9-point reduction in the cost/income ratio
Q4-13 /
Q4-12
% change
-3,649 -1.1%
1,892 18.4%
65.8% -3.9 pts
-546 16.2%
1,419 19.3%
775 10.9%
9% 1 pt
- -
Core
business
lines2
Q4-13
5,541 4.8%
Pro forma results Q4-13 /
In millions of euros Q4-12
% change
Net banking income1 5,968 5.4%
Operating expenses -4,256 2.4%
Gross operating income 1 1,712 13.7%
Cost / income ratio 71.3% -2.1 pts
Cost of risk -565 -12.3%
Income before tax1 1,187 85.5%
Net income attributable to equity holders of the parent excluding
the revaluation of own debt596 x 2.4
Impact of the revaluation of own debt on net income -66
Net income attributable to equity holders of the parent 530 x 3.1
ROE 4.2% 3.2 pts
Q4-13
Results for full-year 2013 February 19, 2014 7
Contributions to revenue synergies (as a % of additional net banking income generated)
Contributions to cost synergies (as a % of the synergies generated)
Revenue synergies
1. Results of Groupe BPCE Revenue and cost synergies ahead of the targets set in the 2010-2013 strategic plan
52%
23%
15%
10%
Consumer finance
Insurance
Payments
Other
41%
32%
27%
Processes (incl. Purchasing)
Information Systems
Organization
Cost synergies
> Specialized Financial Services: very fine performance achieved by Consumer Finance in the Banque Populaire banks and by the Factoring business in the Caisses d’Epargne
> Investment Solutions: strong growth in the contribution made by insurance activities since end-2012 and growth in the contribution made by Private Banking
€891m realized at end-December 2013
End-2009
Cumulative target of €810m
> Rationalization of purchasing with, notably, the signature of group-wide contracts with IT service providers
> Pooling of IT infrastructure
> Optimization of organizational processes
> Implementation of local synergies between the Banque Populaire banks and Caisses d’Epargne
€1,035m realized at end-December 2013
End-2009
Cumulative target of €1bn
Results for full-year 2013 February 19, 2014 8
23
43 53
26 33 35
31 37 35
1 Cost of risk expressed in annualized bp on gross customer loan outstandings at the beginning of the period 2 Excluding Greek government bonds impairment
27 31 32
Commercial Banking and Insurance
Wholesale Banking, Investment Solutions, SFS
Core business lines
Groupe BPCE2
56 56 49
55 53
Cost of risk in pb1
34 33 37 31
39
44 33 36 31
38
2011 2012 2013
Commercial Banking and Insurance
> Average annual cost of risk remains stable: 32 bp (+1 bp vs. 2012)
> Sharp increase for Real estate Financing in Q4-2013: provisions booked for specific cases and a collective provision set aside for a portfolio of international assets managed on a run-off basis
Wholesale Banking, Investment Solutions, SFS
> Average annual cost of risk: 53 bp
> Cost of risk stabilized in the core business lines of Natixis
Core business lines
> Average annual cost of risk: 35 bp (+2 bp vs. 2012) remaining at a moderate level
Groupe BPCE
> Average annual cost of risk: 35 bp (-2 bp vs. 2012)
> Non-performing loans to total loans ratio remains moderate (3.9% at Dec. 31, 2013, -0.1 pt. vs. Sept. 30, 2013)
> Impaired outstandings coverage ratio at a high level: 78.2% at Dec. 31, 2013 (+2.3 pts vs. Sept. 30, 2013) Q4-12 Q1-13 Q2-13 Q3-13 Q4-13
31 29 36
27 37
1. Results of Groupe BPCE Moderate risk profile: average annual cost of risk stands at 35 bp (-2 bp vs. 2012)
Results for full-year 2013 February 19, 2014 9
1. Results of Groupe BPCE GAPC: €5.4bn in assets divested in 2013 with no impact on net income
Faster pace of asset disposals in 2013:
€0.7bn in Q4-13, representing €5.4bn in
2013 vs. €3.6bn in 2012
During the year, disposals made at a
discount of less than 1%; no significant
impact of GAPC on net income attributable
to equity holders of the parent
Risk-weighted assets under Basel 3 stand
at €9.1bn1 at December 31, 2013
Complete winding-up of GAPC by mid-2014
confirmed
GAPC: contribution to the Group’s attributable net income (in €m)
1 Estimate under Basel 3 – CRR/CRD IV, as applied by Groupe BPCE
-31
-16
17
-33
1
-7 -9
34
-63
19
Q1-12 Q2-12 Q3-12 Q4-12 Q1-13 Q2-13 Q3-13 Q4-13 2012 2013
Results for full-year 2013 February 19, 2014 10
Contents
1. Results of Groupe BPCE
2. Capital adequacy and liquidity
3. Results of the business lines
4. Core business lines: gaining momentum with
the new strategic plan
5. Conclusion
Results for full-year 2013 February 19, 2014 11
8.9%
10.4%
+ 50 bp
+ 40 bp
+ 60 bp
Common Equity Tier-1 ratio
under Basel 3
at Dec. 12, 2012
Retained earnings Issue of cooperative shares Change in activity
and others
Common Equity
Tier-1 ratio under Basel 3
at Dec. 31, 2013
1 Estimate at Dec. 31, 2013 – CRR/CRD IV, as applied by Groupe BPCE ; without transitional measures and after restatement to account for deferred tax assets 2 Ratio pro forma to account for the CIC buy-back operation 3 Pro forma to account for the $1.5bn issue at the beginning of January 2014 4 Depending on bail-in regulations 5 Without transitional measures and after restatement to account for deferred tax assets, calculated using the CRR/CRD IV method
Common Equity Tier-1 ratio under Basel 31: +150 bp in 2013
> Common Equity Tier-1 capital1: €42.5bn
> Risk-weighted assets under Basel 31: €409.5bn
Target of obtaining a Common Equity Tier-1 ratio under Basel 3 > 10% in 2014 has already been achieved
Overall capital adequacy ratio1: 13.4%3 vs. 11.6% at December 31, 2012, +180 bp in 2013
> Target: > 15% in 2017 at the latest4
Leverage ratio under Basel 35 > 3.6% at December 31, 2013
2. Capital adequacy and liquidity Sharp increase in capital adequacy in 2013: Common Equity Tier-1 ratio under Basel 31 at 10.4% as of end-December 2013
2
Results for full-year 2013 February 19, 2014 12
103 106
117 111
97
136 140
160 156 160
46 43 57
40 51
Dec. 31, 12 Mar. 31, 13 June 30, 13 Sept. 30, 13 Dec. 31, 13
Short-term refunding
outstandings (in €bn)
Available assets eligible
for central bank refinancing (in €bn)
Liquid assets placed with
central banks (in €bn)
109
1 Excluding SCF (Compagnie de Financement Foncier, the Group’s société de crédit foncier – a French legal covered bonds issuer) 2 Change in method related to modifications in the definition of customer classifications 3 Excluding centralized savings products
2. Capital adequacy and liquidity Enhanced customer loan-to-deposit ratio
147% 138%
132%
128%
124%
Dec. 2010 Dec. 2011 Dec. 2012 Dec. 2013
Group customer loan-to-deposit ratio1
Change in method2
132% 132% 137% 141%
164% Liquidity reserve/short-
term refunding(as a %)
103 97
90
Liquidity reserves and short-term funding
116
Group customer loan-to-deposit ratio1: 124% at Dec. 31, 2013, -4 pts vs. Dec. 31, 2012
> Strong growth in on-balance sheet deposits and savings in the retail networks: +€28bn3 in 2013
> Faster pace of non-customer asset disposals in 2013: disposal of assets for more than €10bn (GAPC: €5.4bn and CFF: €4.9bn)
Liquidity reserves: €160bn at Dec. 31, 2013
> €109bn in available assets eligible for central bank refinancing + €51bn in liquid assets placed with central banks
> Reserves equivalent to 164% of short-term funding
Results for full-year 2013 February 19, 2014 13
MLT funding plan completed at Dec. 31, 2013
1 Including €5.4bn raised in excess of the 2012 plan and allocated to the 2013 plan (€4.0bn from the BPCE funding pool and €1.5bn from the CFF funding pool) 2 Unsecured bond issues actually raised during the year in the institutional market
26%
73%
1%
Covered bond issues in theinstitutional market
Unsecured bond issues in theinstitutional market
Senior unsecured bond issues placedvia the retail banking networks inFrance (chiefly BP and CE)
30%
70%
Covered bond issues in the
institutional market
Unsecured bond issues in the
institutional market
Wholesale funding structure: 2014 targets
2. Capital adequacy and liquidity 2014 issuance program placing greater emphasis on diversification, helping to reach the target of 100% LCR in early 2015
Favorable market conditions in 2013: €32.2bn1 raised in MLT funding (153% of the program)
> €28.0bn in BPCE’s MLT funding pool
> €4.2bn in the CFF MLT funding pool
> Average maturity at issue: 5.3 years
> Average rate: mid-swap +48 bp
Significantly enhanced diversification of the investor base in 20132
> 30% of issues denominated in currencies other than the EUR vs. 11% in 2012: notably, in USD (60%) and JPY (27%)
> 50% in private placements vs. 44% in 2012
2014 MLT funding plan for €30bn
> €25bn in BPCE’s MLT funding pool
> €5bn in the CFF MLT funding pool
€7.1bn raised in the BPCE pool as at February 5, 2014, equal to 28% of the full-year 2014 plan
> Average maturity at issue: 5.7 years
> Average rate: mid-swap +57 bp
Results for full-year 2013 February 19, 2014 14
Contents
1. Results of Groupe BPCE
2. Capital adequacy and liquidity
3. Results of the business lines
4. Core business lines: gaining momentum with
the new strategic plan
5. Conclusion
Results for full-year 2013 February 19, 2014 15
3. Results of the business lines Commercial Banking and Insurance
Results pro forma of the buyback and subsequent cancellation by the Banque Populaire banks and the Caisses d'Epargne of the Cooperative Investment Certificates (CICs) held by Natixis
Pro forma results 2013 / Q4-13 /
2012 Q4-12
% change % change
Net banking income 15,231 4.5% 3,925 5.7%
Excluding changes in provisions for home
purchase savings schemes15,219 3.9% 3,925 4.6%
Banques Populaire banks 6,346 6.1% 1,624 8.6%
Excluding changes in provisions for home
purchase savings schemes6,344 5.8% 1,624 7.2%
Caisses d'Epargne 6,940 3.9% 1,778 3.1%
Excluding changes in provisions for home
purchase savings schemes6,930 3.0% 1,778 2.0%
Real estate Financing 735 -1.0% 197 1.9%
Insurance, International and Other networks 1,211 2.8% 325 8.5%
Operating expenses -10,103 0.4% -2,578 -1.8%
Gross operating income 5,129 13.6% 1,347 23.9%
Cost / income ratio 66.3% -2.7 pts 65.7% -5.0 pts
Cost of risk -1,574 8.8% -453 24.4%
Income before tax 3,781 15.5% 959 23.0%
Net income attributable to equity holders
of the parent2,398 13.9% 548 7.5%
ROE 9% 1 pt 8% -
2013 Q4-13In millions of euros
Results for full-year 2013 February 19, 2014 16
Unless specified to the contrary, all changes are vs. 2012
Gross operating income (as a %)
226 287
315
June 09 Dec. 12 Dec. 13
On-balance sheet deposits & savings
+40%
42% (40%)
46% (48%)
4% (3%)
8% (9%)
Banque Populaire banks
Caisses d’Epargne
Real estate Financing
Insurance, International andOther networks
2013 (2012)
On-balance sheet deposits and savings1 & loan outstandings (in €bn)
3. Results of the business lines Commercial Banking and Insurance
1 BP and CE networks excluding centralized savings products 2 Excluding changes in provisions for home purchase savings schemes 3 Cost of risk expressed in annualized bp on gross customer loan outstandings at the beginning of the period
Strong commercial dynamics in the BP and
CE retail networks
> Continued strong growth in on-balance sheet deposits and savings1 (+9.9% vs. 2012)
> Dynamic growth in loan outstandings (+6.1% vs. 2012), driving the expansion of the customer base
Net banking income: +3.9%2 > Net interest margin buoyed up by volumes and the
decline in interest rates paid on regulated savings products
> Growth in commissions driven by customer base growth and increased delivery of banking services
Gross operating income: +13.6% > Stability in operating expenses: +0.4% > 2.7 pts improvement in the cost/income ratio
Annual average cost of risk: 32 bp3 (+1 bp vs. 2012)
Contribution of the Commercial Banking and Insurance division to the Group’s attributable net income: €2.4bn in 2013 vs. €2.1bn in 2012
Cost of risk3 (in bp)
44 38
48
38 39
34 33 38
32 32 23
28 29 27 25
Q4-12 Q1-13 Q2-13 Q3-13 Q4-13
Banque Populaire banks Cost of risk of both retail networks Caisses d'Epargne
268
345 367
June 09 Dec. 12 Dec. 13
Loan outstandings
+37%
Results for full-year 2013 February 19, 2014 17
155 160 166
Dec. 2011 Dec. 2012 Dec. 2013
Loan outstandings
118 125 134
69 66 66
187 191 200
Dec. 2011 Dec. 2012 Dec. 2013
Financial savings
On-balance sheet deposits & savings
Deposits and savings1 & loan outstandings (in €bn)
3. Results of the Banque Populaire banks
Contribution to Group results (pro forma)
1 Excluding centralized savings products 2 Excluding changes in provisions for home purchase savings schemes 3 Cost of risk expressed in annualized bp on gross customer loan outstandings at the beginning of the period
Customer base: record-breaking new clients > +96,000 individual customers and +10,000 professional
customers in 2013
> Continued intensification of customer relations: +4.9% active individual customers using banking services and insurance products
On-balance sheet deposits & savings1: +6.9% > Strong growth in demand deposits (+6.5%) and term
deposit accounts (+8.9%)
Financial savings: stability in deposits > Growth in life funds (+3.2%) after a surge in new
inflows in 2013
Loan outstandings: +3.5% > Home loans: increase in outstandings (+7.0%); buoyant
growth in new loan production, driven by the intensification of new customer relations
> Equipment loans: revival in new loan production despite the sluggish environment (+4.0%)
Net banking income: +5.8%2 > Net interest margin: +4.4%2
> Commissions: +2.6%
Gross operating income: +19.4% > Cost/income ratio: -3.7 pts
Cost of risk3: 39 bp in Q4-13 > -5 bp vs. Q4-12
Unless specified to the contrary, all changes are vs. 2012
in millions of euros 2013 2013/ 2012
Q4-13 Q4-13/ Q4-12
Net banking income, excl. home purchase savings schemes
6,344 +5.8% 1,624 +7.2%
Operating expenses -4,205 +0.5% -1,051 -0.1%
Gross operating income Cost/income ratio
2,142 66.3%
+19.4% -3.7 pts
574 64.7%
+29.4% -5.7 pts
Cost of risk -685 -8.3% -166 -8.4%
Attributable net income 944 +35.4% 256 +48.8%
Results for full-year 2013 February 19, 2014 18
Deposits and savings1 & loan outstandings (in €bn)
149 162 181
119 118 119
268 280
300
Dec. 2011 Dec. 2012 Dec. 2013
Financial savings
On-balance sheet deposits & savings
3. Results of the Caisses d’Epargne
Contribution to Group results (pro forma)
Customer base: strong growth among priority targets
> Individual customers using banking services: +3.7%
> Active professional customers (+4.8%) and active corporate customers (+7.7%)
On-balance sheet deposits & savings1:+12.2% > Positive inflows driven by demand deposits (+15.0%),
home purchase savings schemes (+7.5%) and term deposit accounts (+22.2%)
Financial savings: stable deposits
> Life funds (+1.8%)
Loan outstandings: +8.4% > Real estate loans: new loan production remained buoyant
overall but downturn in the 2nd half of the year; real estate loan outstandings +9.8%
> Equipment loans: outstandings (+6.5%), new production +5.2% in the professional and corporate segments
Net banking income: +3.0%2 > Net interest margin: +3.5%2
> Commissions: +5.5%
Gross operating income: +10.0% > Cost/income ratio: -1.9 pt
Cost of risk3: 25 bp in Q4-13 > +2bp vs. Q4-12, remaining at a low level
in millions of euros 2013 2013/ 2012
Q4-13 Q4-13/ Q4-12
Net banking income, excl. home purchase savings schemes
6,930 +3.0% 1,778 +2.0%
Operating expenses -4,562 +1.0% -1,164 -2.6%
Gross operating income Cost/income ratio
2,378 65.7%
+10.0% -1.9 pt
614 65.5%
+15.9% -3.8 pts
Cost of risk -529 +19.8% -126 +22.2%
Attributable net income 1,146 +4.5% 289 +1.6%
171 185 201
Dec. 2011 Dec. 2012 Dec. 2013
Loan outstandings
Unless specified to the contrary, all changes are vs. 2012
1 Excluding centralized savings products 2 Excluding changes in provisions for home purchase savings schemes 3 Cost of risk expressed in annualized bp on gross customer loan outstandings at the beginning of the period
Results for full-year 2013 February 19, 2014 19
3. Results of the business lines Real estate Financing1
Activity: outstanding commercial performance in 2013
> Individual customers: new loan production +17.8% to €7.6bn; extremely strong commercial dynamics despite the depressed market environment
> Real estate investors and public facilities: all markets stood up well; new loan production +9.0% to €4.1bn
SCF: at the service of Group customers
> SCF’s €5bn 2014 program designed to fund the long-term loans granted by the retail networks and Natixis rolled out in 2013
• Volume of approximately €200m in loans transferred by Group entities to SCF
Stability in net banking income
Significant reduction in operating expenses achieved by the cost-cutting plan
Sharp rise in the cost of risk in Q4-13
> Substantial provisions booked for a number of specific cases and collective provision for the portfolio of international assets managed on a run-off basis
1 Principal entity contributing to the business line: Crédit Foncier 2 Outstandings under management
Unless specified to the contrary, all changes are vs. 2012
Loan outstandings2 (in €bn)
Contribution to Group results (pro forma)
in millions of euros 2013 2013/ 2012
Q4-13 Q4-13/ Q4-12
Net banking income 734 -1.0% 197 +1.9%
Operating expenses - 546 -6.8% - 147 -12.9%
Gross operating income Cost/income ratio
188 74.4%
+20.8% -4.6 pts
50 74.7%
ns -12.7 pts
Cost of risk - 250 +89.3% - 153 X 3
Attributable net income -27 ns -64 ns
60.0 59.3 58.4
56.6 52.7 47.7
116.6 112.0 106.1
Dec. 2011 Dec. 2012 Dec. 2013
Individual customers Real-estate investors and public facilities
Results for full-year 2013 February 19, 2014 20
Disposal of international assets and net impact on net banking income1 (in €bn)
0.6 1.8
1.0 0.7
1.8 3.9 1.3
3.6
4.9
International Public Sector and sovereigns Securitization
-0.04 -0.04 -0.15
3. Results of the business lines Accelerated transformation of Crédit Foncier
Discontinuation and winding-up of Crédit Foncier’s international activities: accelerated asset disposal policy in 2013
> Assets of €9.8bn divested since the strategic plan began in Q4-11, with a discount limited to 2.3%1
> Reduction in the portfolio of international assets: more than 35% since September 30, 2011
Securitization (chiefly RMBS2)
> Since the plan was first launched, disposal of assets for €6.4bn, pursued at a faster pace in 2013; outstanding assets down 40% since Sept. 30, 2011
> All third-party securitizations on the Compagnie de Financement Foncier balance sheet removed3 by end-December 2013; as a result, the covered bonds (obligations foncières) issued by SCF are eligible for ECB funding operations
International Public Sector and Sovereigns
> Assets worth €3.4bn divested since the start of the plan; overall 29% reduction in these assets since September 30, 2011
Residual portfolio of international assets
> Given the structure of the residual portfolio, workout management chiefly based on amortization
Portfolio of international assets (in €bn)
Net impact1 on net banking income (in €bn)
Asset disposals (in €bn)
2011 2012 2013
1 Net of liability buybacks, net impact of disposals listed under “Other businesses” 2 Residential Mortgage Backed Securities (securitized home loans) 3 Transferred to Crédit Foncier
16.9 12.0
20.6
12.3
37.5
24.3
Sept. 30, 2011 Dec. 31, 2013
International Public Sector and sovereigns Securitization
Results for full-year 2013 February 19, 2014 21
3. Results of the business lines Insurance, International and Other networks
Unless specified to the contrary, all changes are vs. 2012
Contribution to Group results (pro forma)
in millions of euros 2013 2013/ 2012
Q4-13 Q4-13/ Q4-12
Attributable net income 334 +14.9% 69 +11.4%
Of which Insurance 194 +4.1% 44 -16.8%
Of which International 65 x 1.4 6 -35.2%
Of which Other networks 75 -2.6% 19 ns
in billions of euros 2013 2012 2013/ 2012
International
Deposits & savings1 8.0 7.8 +2.4%
Loan outstandings1 8.9 8.9 =
Other networks
Deposits & savings2 16.1 14.9 +8.0%
Loan outstandings2 7.1 7.0 +2.7%
Business activity indicators
Insurance > Life insurance: revenues driven by Private Banking
> Non-Life and Provident insurance: strong sales momentum
International1
> Deposits & savings: dynamic performance in the individual customers (+4.2%) and corporate customers segments (+4.5%)
> Loans to individual customers: real estate loans (+3.7%) and consumer finance (+4.6%)
> Loans to corporate customers: MLT lending (-2.6%)
Other networks2
> Deposits & savings: sustained growth in on-balance sheet deposits & savings (+11.5%), strong increase in demand deposits (+37.4%), and net withdrawals from term savings accounts (impact of interest rates, fiscal measures)
> Loans to individual customers: decline in outstandings (-2.4%) following the decline in real estate loans (-2.3%)
> Loans to corporate customers: business activity kept at a good level regarding medium-/long-term and short-term loans (outstandings up +2.9% and +5.4% respectively)
1 Principal entity contributing to the business line: BPCE International et Outre-Mer 2 Principal entity contributing to the business line: Banque Palatine
1 Figures for 2011 and 2012 restated following the sale of BCP Luxembourg in June 2013 2 Average amounts
Results for full-year 2013 February 19, 2014 22
3. Results of the business lines Core business lines of Natixis: Wholesale Banking, Investment Solutions, Specialized Financial Services (SFS)
Results pro forma of the buyback and subsequent cancellation by the Banque Populaire banks and the Caisses d'Epargne of the Cooperative Investment Certificates (CICs) held by Natixis
Contribution figures ≠ figures published by Natixis
Pro forma results 2013 / Q4-13 /
2012 Q4-12
% change % change
Net banking income 6,398 5.0% 1,616 2.7%
Wholesale Banking 2,867 1.1% 652 -4.7%
Investment Solutions 2,259 9.4% 640 9.9%
Specialized Financial Services 1,272 6.7% 324 5.7%
Operating expenses -4,152 2.8% -1,071 0.8%
Gross operating income 2,246 9.3% 545 6.7%
Cost / income ratio 64.9% -1.4 pt 66.3% -1.3 pt
Cost of risk -380 11.3% -93 -11.8%
Income before tax 1,885 8.9% 459 12.3%
Net income attributable to equity holders
of the parent915 10.4% 226 20.2%
ROE 10% 1 pt 11% 3 pts
2013 Q4-13In millions of euros
Results for full-year 2013 February 19, 2014 23
96 103 113 111 90
212
299 219
273
214
72
308
475
332
384
304
Q4-12 Q1-13 Q2-13 Q3-13 Q4-13
Impact of non-recurring itemsForex, Interest rate, Commodities & Treasury (FIC-T)Equity
Capital markets
3. Results of the business lines Wholesale Banking: very strong dynamic for the financing activities, good resilience of capital market businesses in 2013
Commercial Banking > Dynamic commercial activity with €3.5bn in new
loan production in Q4-13, totaling €11.4bn in 2013 > Net revenues: +3% in Q4-13 despite a 12%
decrease in average outstandings
Structured finance > Record new loan production with €5.5bn in Q4-13,
totaling €17.5bn in 2013 > Net revenues: +4% in 2013 and +2% in Q4-13
vs. Q4-12 (at constant exchange rates) fuelled by the Global Energy & Commodities, Acquisition Finance and US Real Estate Finance businesses
> Arrangement fees: 30% of net banking income in 2013 (vs. 25% in 2012)
FIC-T > Net revenues stable in Q4-13 vs. Q4-12 but
displaying growth if the CVA/DVA negative effect is excluded; net revenues held up in 2013 in less buoyant market conditions; sustained activity of the debt platform and dynamic development in Asia and the USA
> #1 in France in the primary euro-denominated bond market with corporates in 20131
Equity > Stable net revenues in 2013, buoyed up by the
dynamism of the derivatives business and the international platforms
Change in net revenues (in €m) Financing activities
Change in net revenues (in €m)
262 246 263 280 259
99 96 96 94 102
361 342
359 374
361
Q4-12 Q1-13 Q2-13 Q3-13 Q4-13
Structured finance Commercial Banking
1022 1047
373 388
2012 2013
416 418
1092 1077
2012 2013
1,508
Unless specified to the contrary, all changes are vs. 2012
1 Dealogic – in number of transactions
1,395 1,435
1,495
Results for full-year 2013 February 19, 2014 24
Record-breaking net inflows of €20bn in
2013 (excluding money market funds) > Harris Associates: good performance in Equity Value
expertise with $18bn net inflows; the Oakmark International fund is ranked #2 in the US in terms of net inflows (all categories combined)
> Loomis, Sayles & Co: alternative expertise in Fixed Income and the development of Equity Growth expertise made it possible to maintain buoyant new inflows of $10bn
> More generally, the alternative expertise (Alpha Simplex, Gateway, H20, OSSIAM, etc.) developed more recently in Europe and the USA generated new inflows in excess of €3.4bn in 2013
Net revenues: +4% in Q4-13 vs. Q4-12 (like-for-like basis)
Net inflows: +€0.35bn in 2013, driven by own clients and
BPCE networks
Assets under management: €22.4bn at Dec. 31, 2013,
+8% over the year
304 320
5
United States Europe Asia
Asset management
3. Results of the business lines Investment Solutions: Q4-13 and full-year growth in all business lines
Asset management: AuM (in €bn)
Asset management: AuM by area (end of period - in €bn, 1 year growth in %) Insurance
Private Banking
Revenues: +39% vs. 2012 and +7% in Q4-13
vs. Q4-12 driven by all segments
Personal protection & ADE: turnover: €0.6bn, +14%
Life insurance > Net inflows of +€0.4bn (vs. -€1.2bn in 2012) > Assets of €39bn, +4% over the year
Unless specified to the contrary, all changes are vs. 2012
+19% at constant exchange rates +0.4%
+21%
591 591,2 592,2 592,2
629
+13.4
-12.4
+37.2
AuM at Dec. 31,
2012
Net
inflows
Fx
effects
Market
effect
AuM at Dec. 31,
2013
Results for full-year 2013 February 19, 2014 25
52.5
89.0
Q4-12 Q4-13
Employee benefit schemes
3. Results of the business lines SFS: strong revenue growth in the employee benefit schemes and sureties & financial guarantees businesses in Q4-13
Employee benefit schemes: AuM (in €bn)
19.4
21.8
Q4-12 Q4-13
Unless specified to the contrary, all changes are vs. 2012
Net revenues: +7% in Q4-13 vs. Q4-12 Employee benefit schemes: 13% growth in
assets under management to almost €22bn at end-2013
Service vouchers: the Chèque de Table® lunch voucher business continues to gain market share (14.5%) with 12% growth in the total equivalent value issued
Net revenues: significant 13% rise in Q4-13
vs. Q4-12
Strong increase in premiums written (+70%) in Q4-13 vs. Q4-12 with a doubling of premiums written in the individual customers segment
+13%
Sureties & financial guarantees (CEGC) CEGC: premiums written (in €m)
+70%
Change in Chèque de Table® market share, as a %
10.0% 11.1%
12.0% 13.4%
14.5%
Dec. 08 Dec. 10 Dec. 11 Dec. 12 Dec. 13
Results for full-year 2013 February 19, 2014 26
3. Equity interests1
Results pro forma of the buyback and subsequent cancellation by the Banque Populaire banks and the Caisses d'Epargne of the Cooperative Investment Certificates (CICs) held by Natixis 1 The “Equity interests” division includes investments in Coface, Nexity and Volksbank Romania in addition to the Private Equity activities of Natixis
Pro forma results 2013 / Q4-13 /
2012 Q4-12
% change % change
Net banking income 1,653 -3.4% 450 1.0%
Operating expenses -1,395 -0.1% -377 6.0%
Gross operating income 258 -18.1% 73 -19.0%
Cost of risk 2 ns 3 ns
Income before tax 232 -18.4% 42 -30.8%
Net income attributable to equity holders
of the parent45 -31.8% -10 -11.5%
2013 Q4-13In millions of euros
Results for full-year 2013 February 19, 2014 27
3. Equity interests
Insurance turnover (in €m) Coface
Breakdown of revenues in 2013 Nexity
Unless specified to the contrary, all changes are vs. 2012
Insurance turnover virtually stable in 2013 vs. 2012 despite the difficult economic environment in Europe
Extremely dynamic commercial activity in Q4-13
Efficient risk management: > Substantial decline in the loss ratio in Q4-13, to
48.8% vs. 54.3% in Q3-13 and 51.8% in Q4-12 > Stabilization of the loss ratio at 53.8% in 2013,
despite the adverse macroeconomic environment
333 353 340 331 347
Q4-12 Q1-13 Q2-13 Q3-13 Q4-13
Volume of reservations for new housing units in France very close to 2012 levels (-1%) but increase in value (+6%)
Backlog: €3.4bn at December 31, 2013 (+8.3%
vs. December 31, 2012), equivalent to 18 months of development activity for Nexity
Revenues: €2.7bn in 2013, -3.3%
67%
17%
16%
Residential real estate
Commercial real estate
Services & distribution
+4%
Results for full-year 2013 February 19, 2014 28
Contents
1. Results of Groupe BPCE
2. Capital adequacy and liquidity
3. Results of the business lines
4. Core business lines: gaining momentum with
the new strategic plan
5. Conclusion
Results for full-year 2013 February 19, 2014 29
Monthly visits to the websites (in millions of visits)
> More than 762,000 Banque Populaire and Caisse d’Epargne Facebook fans
> More than 20,000 Banque Populaire and Caisse d’Epargne Twitter followers
Innovation at the service of our customers
> The Caisse d’Epargne digital safety deposit box, a service facilitating the automatic storage of documents adopted by 250,000 customers just 3 months after its launch
> V.me by Visa, the electronic wallet to simplify online payments
> Innov&plus, a solution designed to help companies finance their innovative projects. Banque Populaire is the 1st bank in France to have signed an agreement with the European Investment Fund
The development of digital banking
> Continued pursuit of the “Digital Enterprise” program
• Launch and roll-out of the electronic signature in local branches, making life easier for customers
> The electronic signature has already been rolled out in more than 3500 branches run by both retail networks
Stronger brands
> The Banque Populaire and Caisse d’Epargne names rank among the 15 most popular brands in France, all business sectors taken together
4. Let's create leading banks for one-to-one and online relations
Mobile applications downloaded (in millions)
Social networks
0.8 1.2
Dec. 12 Dec. 13
Number of Banque Populaireapplications downloaded
1.8 2.9
Dec. 12 Dec. 13
Number of Caisse d'Epargneapplications downloaded
22 27
Dec. 12 Dec. 13
Banque Populaire websites
56 57
Dec. 12 Dec. 13
Caisse d'Epargne websites
Results for full-year 2013 February 19, 2014 30
4. Fully-fledged bancassurance specialist: creation of a single industrial platform for insurance activities
9.1 10.5
2012 2013
Gross inflows (in €bn)
Life insurance – Business activity indicators2
1 Source: FFSA 2 Entities included: CNP Assurances, Natixis Assurances, Prépar Vie 3 Entities included: BPCE Assurances, CNP Assurances, Natixis Assurances, Prépar
Unless specified to the contrary, all changes are vs. 2012
Non-Life insurance – Business activity indicators3
150.0 153.5
Dec. 2012 Dec. 2013
Outstandings (in €bn)
“Growing differently”: becoming a fully-fledged bancassurer and, ultimately, providing insurance to 1/3 of our customers
2012 2013
1.2 1.3
Revenues (in €bn)
Life insurance
> Gross inflows of €10.5bn: +15% for BPCE vs. +6% for the wider market1
> Life insurance outstandings: +2.3%
> Launch of the Assurément#2016 initiative: creation of an offering and efficient industrial structure to market new savings and provident insurance contracts, underwritten by Natixis Assurances and distributed via the CE networks, starting in 2016
Non-life and Provident insurance
> Strong commercial momentum with revenue growth of +9.5%
• Including +10.0% in non-life vs. +2.0% for the wider market1
> Portfolio of contracts: +10%
> BPCE Assurances: project of acquisition by Natixis of BPCE’s interest in the subsidiary (60% of the capital) approved on February 19, 2014
3.6 4.0
2012 2013
Portfolio of contracts(in millions of units)
Results for full-year 2013 February 19, 2014 31
4.5 3.5 4.1
5.5
Q1-13 Q2-13 Q3-13 Q4-13
Asset management: 2013, a record-breaking year
> Record net inflows of +€20bn (excl. money market funds), including $12.8bn from US long-term funds
> The distribution platform (US and International) reached $275bn in distributed assets as of end-2013; gross sales exceeded $80bn in 2013
> Strong diversification in the expertise distributed (Equity, Alternatives, Fixed Income)
4. Core business lines of Natixis: building strong momentum
Wholesale Banking: foundations laid for the implementation of New Frontier
> Implementation of the O2D model in January 2013 • Dedicated organization, notably with the creation of
Portfolio Management
• Partnerships with institutional investors
SFS: continued dynamism with the retail networks
> Consumer financing: a comprehensive range of solutions in the areas of revolving credit and personal loans for clients of the Groupe BPCE networks
> Factoring: strong commercial momentum with the Groupe BPCE networks, particularly with the Caisses d’Epargne
Factored turnover (France – in €bn)
Structured finance: new loan production (in €bn)
1 Natixis includes the assets managed by its investment funds: Loomis Sayles Funds, Hansberger International Series, Aurora Horizons Fund and Oakmark Funds. NGAM Distribution L.P. is the distributor responsible for Natixis funds, Loomis Sayles Funds, Hansberger Funds and Aurora Horizons Fund, and has entered into a commercial agreement for Oakmark Funds. Source: Strategic Insight/Simfunds – exclusively for the open-end funds, excluding ETFs, money-market products and affiliated funds of funds
Top asset gatherers (US long-term funds)
YTD Dec - in $m YTD Dec - in $m
1. Vanguard 74,608 6. Goldman Sachs 14,220
2. DFA 23,198 7. MainStay Funds 14,181
3. JPMorgan 21,094 8. Natixis1
12,833
4. MFS 16,957 9. BlackRock 10,782
5. Oppenheimer 15,911 10. John Hancock 9,945
28.5
29.8
2012 2013
+ 5 %
Results for full-year 2013 February 19, 2014 32
Contents
1. Results of Groupe BPCE
2. Capital adequacy and liquidity
3. Results of the business lines
4. Core business lines: gaining momentum with
the new strategic plan
5. Conclusion
Results for full-year 2013 February 19, 2014 33
Conclusion
Groupe BPCE is confirming its role as a major player in financing the French economy: 6.1% growth in loan outstandings in 2013
Significant increase in net income: €2.9bn1 in 2013, +26.2% vs. 2012
Improvement in the cost/income ratio
Cost of risk kept at a moderate level
Substantial improvement in capital adequacy: Common Equity Tier-1 ratio of 10.4%2 at December 31, 2013, +150 bp in 2013
Accelerated balance sheet restructuring (GAPC and CFF), currently in its final stages, allowing the Group to leverage its strengths more effectively in favor of its customers
Strong foundation for the new 2014-2017 strategic plan “Growing differently”
5.
1 Results pro forma of the buyback and subsequent cancellation by the Banque Populaire banks and the Caisses d'Epargne of the Cooperative Investment Certificates (CICs) held by Natixis and excluding revaluation of own debt 2 Estimate at Dec. 31, 2013 – CRR/CRD IV, as applied by Groupe BPCE ; without transitional measures and after restatement to account for deferred tax assets
Annexes
Results for full-year 2013
Results for full-year 2013 February 19, 2014 35
Annexes
Groupe BPCE > Organizational structure of Groupe BPCE
> Income statement: reconciliation of pro-forma
consolidated data to published consolidated
data
> Income statement
> Income statement per business line
> Consolidated balance sheet
> Goodwill
Financial structure > Statement of changes in shareholders' equity
> Reconciliation of shareholders' equity to
Tier-1 capital under Basel 2.5
> Prudential ratios under Basel 2.5 and credit
ratings
> Risk-weighted assets under Basel 2.5
Commercial Banking and Insurance > Income statement
> Banque Populaire network –
Change in savings and loan outstandings
> Caisse d'Epargne network –
Change in savings and loan outstandings
> Real estate Financing, Insurance, International
and Other networks
Wholesale Banking, Investment Solutions
and SFS > Income statement
Equity interests > Income statement
Workout portfolio management
and "Other businesses" > Income statement
Risks > Non-performing loans and impairment
• Groupe BPCE
• Networks
> Breakdown of commitments
> Detailed exposure
> Exposure to the sovereign debts of peripheral
European countries
> Exposure to European sovereign risks
> Exposure to countries subject to a rescue
plan
Sensitive exposures (recommendations of
the Financial Stability Forum – FSF)
Groupe BPCE, a socially responsible
company
Results for full-year 2013 February 19, 2014 36
Annex - Groupe BPCE Organizational structure of Groupe BPCE
Results for full-year 2013 February 19, 2014 37
Annex - Groupe BPCE Income statement: reconciliation of pro-forma consolidated data to published consolidated data
2013
2012
in millions of euros
Net banking income 22,826 0 22,826 15,378 -146 15,231 6,398 0 6,398 1,653 0 1,653 189 0 189 -791 146 -644
Operating expenses -16,135 0 -16,135 -10,103 0 -10,103 -4,152 0 -4,152 -1,395 0 -1,395 -89 0 -89 -397 0 -397
Gross operating income 6,691 0 6,691 5,275 -146 5,129 2,246 0 2,246 258 0 258 99 0 99 -1,188 146 -1,042
Cost of risk -2,042 0 -2,042 -1,574 0 -1,574 -380 0 -380 2 0 2 -71 0 -71 -19 0 -19
Income before tax 4,889 0 4,889 3,927 -146 3,781 1,885 0 1,885 232 0 232 28 0 28 -1,184 146 -1,037
2013
Impacts of
pro forma
operations
2013
pro
forma
2013
Impacts of
pro forma
operations
2013
pro
forma
2013
Impacts of
pro forma
operations
2013
pro
forma
2013
pro
forma
2013
Impacts of
pro forma
operations
2013 pro
forma2013
Impacts of
pro forma
operations
2013 pro
forma2013
Impacts of
pro forma
operations
Other businessesGroupe BPCE Commercial Banking & Insurance
Wholesale Banking, Investment
Solutions & Specialized
Financial Services
Equity Interests Workout portfolio management
in millions of euros
Net banking income 21,946 0.0 21,946 14,780 -201 14,579 6,093 0 6,093 1,711 0 1,711 350 0 350 -988 201 -787
Operating expenses -15,935 0.0 -15,935 -10,064 0 -10,064 -4,037 0 -4,037 -1,396 0 -1,396 -127 0 -127 -312 0 -312
Gross operating income 6,011 0.0 6,011 4,717 -201 4,516 2,055 0 2,055 315 0 315 224 0 224 -1,300 201 -1,099
Cost of risk -2,199 0.0 -2,199 -1,447 0 -1,447 -341 0 -341 -5 0 -5 -262 0 -262 -145 0 -145
Income before tax 3,743 0.0 3,743 3,473 -201 3,272 1,730 0 1,730 285 0 285 -43 0 -43 -1,702 201 -1,501
2012
Impacts of
pro forma
operations
2012
pro
forma
2012
Impacts of
pro forma
operations
2012
pro
forma
2012
Impacts of
pro forma
operations
2012
pro
forma
2012
pro
forma
2012
Impacts of
pro forma
operations
2012 pro
forma2012
Impacts of
pro forma
operations
2012 pro
forma2012
Impacts of
pro forma
operations
Other businessesGroupe BPCE Commercial Banking & Insurance
Wholesale Banking, Investment
Solutions & Specialized
Financial Services
Equity Interests Workout portfolio management
Results for full-year 2013 February 19, 2014 38
Annex - Groupe BPCE Income statement: reconciliation of pro-forma consolidated data to published consolidated data
Q4-13
Q4-12
in millions of euros
Net banking income 5,834 0 5,834 3,941 -16 3,925 1,616 0 1,616 450 0 450 76 0 76 -248 16 -233
Operating expenses -4,256 0 -4,256 -2,578 0 -2,578 -1,071 0 -1,071 -377 0 -377 -20 0 -20 -211 0 -211
Gross operating income 1,578 0 1,578 1,363 -16 1,347 545 0 545 73 0 73 57 0 57 -459 16 -444
Cost of risk -565 0 -565 -453 0 -453 -93 0 -93 3 0 3 -5 0 -5 -17 0 -170 0 0 0 0 0
Income before tax 1,053 0 1,053 975 -16 959 459 0 459 42 0 42 51 0 51 -475 16 -459
Q4-13
Impacts of
pro forma
operations
Q4-13
pro
forma
Q4-13
Impacts of
pro forma
operations
Q4-13
pro
forma
Q4-13
Impacts of
pro forma
operations
Q4-13
pro
forma
Q4-13
pro
forma
Q4-13
Impacts of
pro forma
operations
Q4-13
pro
forma
Q4-13
Impacts of
pro forma
operations
Q4-13
pro
forma
Q4-13
Impacts of
pro forma
operations
Other businessesGroupe BPCECommercial Banking &
Insurance
Wholesale Banking, Investment
Solutions & Specialized
Financial Services
Equity Interests Workout portfolio management
in millions of euros
Net banking income 5,512 0 5,512 3,760 -46 3,713 1,573 0 1,573 445 0 445 160 0 160 -425 46 -379
Operating expenses -4,157 0 -4,157 -2,626 0 -2,626 -1,062 0 -1,062 -355 0 -355 -24 0 -24 -89 0 -89
Gross operating income 1,355 0 1,355 1,134 -46 1,087 511 0 511 90 0 90 135 0 135 -514 46 -468
Cost of risk -644 0 -644 -364 0 -364 -106 0 -106 1 0 1 -170 0 -170 -6 0 -60 0 0 0 #VALEUR! 0 #VALEUR! 0 #VALEUR! 0 #VALEUR! 0 #VALEUR!
Income before tax 490 0 490 826 -46 780 409 0 409 61 0 61 -34 0 -34 -772 46 -726
Q4-12
Impacts of
pro forma
operations
Q4-12
pro
forma
Q4-12
Impacts of
pro forma
operations
Q4-12
pro
forma
Q4-12
Impacts of
pro forma
operations
Q4-12
pro
forma
Q4-12
pro
forma
Q4-12
Impacts of
pro forma
operations
Q4-12
pro
forma
Q4-12
Impacts of
pro forma
operations
Q4-12
pro
forma
Q4-12
Impacts of
pro forma
operations
Other businessesGroupe BPCECommercial Banking &
Insurance
Wholesale Banking, Investment
Solutions & Specialized
Financial Services
Equity Interests Workout portfolio management
Results for full-year 2013 February 19, 2014 39
Annex - Groupe BPCE Annual income statement per business line
2013 2012 2013 2012 2013 2012 % 2013 2012 2013 2012 2013 2012 %
Net banking income 15,378 14,780 6,398 6,093 21,776 20,873 4.3% 1,653 1,711 -603 -638 22,826 21,946 4.0%
Operating expenses -10,103 -10,064 -4,152 -4,037 -14,255 -14,101 1.1% -1,395 -1,396 -485 -438 -16,135 -15,935 1.3%
Gross operating income 5,275 4,716 2,246 2,056 7,521 6,772 11.1% 258 315 -1,088 -1,076 6,691 6,011 11.3%
Cost / income ratio 65.7% 68.1% 64.9% 66.3% 65.5% 67.6% -2.1 pts 84.4% 81.6% ns ns 70.7% 72.6% -1.9 pt
Cost of risk -1,574 -1,447 -380 -341 -1,954 -1,788 9.3% 2 -5 -90 -406 -2,042 -2,199 -7.1%
Income before tax 3,927 3,472 1,884 1,730 5,811 5,202 11.7% 233 285 -1,155 -1,744 4,889 3,743 30.6%
Income tax -1,478 -1,195 -606 -540 -2,084 -1,735 20.1% -106 -138 291 507 -1,899 -1,366 39.0%
Minority interests -41 -44 -364 -361 -405 -405 0.0% -82 -81 166 256 -321 -230 39.6%2,147
Net income attributable to equity
holders of the parent 2,408 2,233 914 829 3,322 3,062 8.5% 45 66 -698 -981 2,669 2,147 24.3%
Groupe BPCE
In millions of euros
Workout portfolio
management &
Other businesses
Commercial
Banking &
Insurance
Wholesale Banking,
Investment
Solutions &
Specialized Financial
Services
Total core businesses Equity interests
Results for full-year 2013 February 19, 2014 40
Annex - Groupe BPCE Quarterly income statement per business line
Q4-13 Q4-12 Q4-13 Q4-12 Q4-13 Q4-12 % Q4-13 Q4-12 Q4-13 Q4-12 Q4-13 Q4-12 %
Net banking income 3,941 3,759 1,616 1,573 5,557 5,332 4.2% 450 445 -173 -265 5,834 5,512 5.8%
Operating expenses -2,578 -2,627 -1,071 -1,062 -3,649 -3,689 -1.1% -377 -356 -230 -112 -4,256 -4,157 2.4%
Gross operating income 1,363 1,132 545 511 1,908 1,643 16.1% 73 89 -403 -377 1,578 1,355 16.5%
Cost / income ratio 65.4% 69.9% 66.3% 67.5% 65.7% 69.2% -3.5 pts 83.8% 80.0% ns 42.3% 73.0% 75.4% -2.5 pts
Cost of risk -453 -364 -94 -105 -547 -469 16.6% 3 2 -21 -177 -565 -644 -12.3%
Income before tax 975 825 458 409 1,433 1,234 16.1% 44 61 -424 -805 1,053 490 ns
Income tax -406 -277 -143 -123 -549 -400 37.3% -25 -57 132 190 -442 -267 65.5%
Minority interests -13 -10 -90 -97 -103 -107 -3.7% -27 -15 52 74 -78 -48 62.5%175
Net income attributable to equity
holders of the parent 556 538 225 189 781 727 7.4% -8 -11 -240 -541 533 175 ns
In millions of euros
Workout portfolio
management &
Other businesses
Groupe BPCE
Commercial
Banking &
Insurance
Wholesale Banking,
Investment Solutions
& Specialized
Financial Services
Total core businesses Equity interests
Results for full-year 2013 February 19, 2014 41
Annex - Groupe BPCE Quarterly income statement
In millions of euros Q1-12 Q2-12 Q3-12 Q4-12 2012 Q1-13 Q2-13 Q3-13 Q4-13 2013
Net banking income 5,450 5,671 5,313 5,512 21,946 5,679 5,728 5,585 5,834 22,826
Operating expenses -3,953 -3,899 -3,926 -4,157 -15,935 -3,944 -4,023 -3,912 -4,256 -16,1350 0 0 0 0 0 0 0 0 0
Gross operating income 1,497 1,772 1,387 1,355 6,011 1,735 1,705 1,673 1,578 6,691
Cost / income ratio 72.5% 68.8% 73.9% 75.4% 72.6% 69.4% 70.2% 70.0% 73.0% 70.7%
Cost of risk -460 -648 -447 -644 -2,199 -485 -533 -459 -565 -2,042
Income before tax 1,081 1,187 985 490 3,743 1,304 1,268 1,264 1,053 4,8890 0 0 0 0 0 0 0 0 0
Income tax -380 -408 -311 -267 -1,366 -456 -397 -604 -442 -1,899
Minority interests -36 -111 -35 -48 -230 -94 -88 -61 -78 -3210 0 0 0 0 0 0 0 0 0
Net income attributable to equity holders
of the parent 665 668 639 175 2,147 754 783 599 533 2,669
Groupe BPCE
Results for full-year 2013 February 19, 2014 42
Annex - Groupe BPCE Consolidated balance sheet
ASSETS in €m Dec. 31, 2013 Dec. 31, 2012 LIABILITIES in €m Dec. 31, 2013 Dec. 31, 2012
Cash and amounts due from central banks 60,410 53,792 Amounts due to central banks 0 0
Financial assets at fair value through profit or loss 206,072 214,991 Financial liabilities at fair value through profit or loss 179,832 194,793
Hedging derivatives 6,643 10,733 Hedging derivatives 6,185 11,116
Available-for-sale financial assets 79,374 83,409 Amounts due to banks 88,811 111,399
Loans and receivables due from credit institutions 108,038 118,795 Amounts due to customers 458,189 430,519
Loans and receivables due from customers 578,419 574,856 Debt securities 214,654 230,501
Remeasurement adjustment on interest-rate risk Remeasurement adjustment on interest-rate risk
hedged portfolios 5,060 7,911 hedged portfolios 1,237 1,994
Held-to-maturity financial assets 11,567 11,042 Tax liabilities 543 612
Tax assets 6,622 6,186 Accrued expenses and other liabilities 48,698 47,997
Accrued income and other assets 46,675 51,145 Technical reserves of insurance companies 51,573 49,432
Investments in associates 2,629 2,442 Provisions 5,251 4,927
Investment property 2,022 1,829 Subordinated debt 10,375 9,875
Property, plant and equipment 4,539 4,783 Consolidated equity 58,172 54,356
Intangible assets 1,282 1,358 Equity attributable to equity holders of the parent 51,339 50,554
Goodwill 4,168 4,249 Minority interests 6,833 3,802
TOTAL ASSETS 1,123,520 1,147,521 TOTAL LIABILITIES 1,123,520 1,147,521
Results for full-year 2013 February 19, 2014 43
Annex - Groupe BPCE Goodwill
in millions of euros Dec. 31,
2012 Acquisitions/Disposals
Impairment Conversion Other
movements Dec. 31,
2013
Commercial Banking and Insurance entities
909 -4 -1 904
Natixis 2,634 -11 -12 -53 -3 2,555
Equity interests 706 3 709
TOTAL 4,249 -8 -16 -54 -3 4,168
Goodwill amortization is recognized under “Other businesses”
Results for full-year 2013 February 19, 2014 44
Annex – Financial structure Statement of changes in shareholders’ equity
Equity attributable to equity holders of the parent
December 31, 2012 50,554
Impact of change in IAS 19R standard on pensions -175
January 1st, 2013 50,379
Distributions -481
Capital increase (cooperative shares) 1,911
CIC buyback -3,341
Income 2,669
Remuneration of deeply subordinated notes and related currency effect -481
Changes in gains & losses directly recognized in equity 730
Transactions with minorities -62
Other 15
December 31, 2013 51,339
in millions of euros
Results for full-year 2013 February 19, 2014 45
51.3
43.8 42.0
47.3
+5.8
+5.3
-4.5 -5.2
-3.6
-1.8
Equity attributable
to equity holders
of the parent
Cancellation of
deeply
subordinated
notes¹ included in
equity attributable
to equity holders
of the parent
Minority interests² Goodwill &
intangibles
Other
restatements
Total Equity Core
T1 capital
Deductions
(50 %)
Total Core T1
capital
Deeply
subordinated
notes¹
Total T1 capital
Annex – Financial structure Reconciliation of shareholders’ equity to Tier-1 capital under Basel 2.5
in billions of euros
1 Deeply subordinated notes: €4.5bn of BPCE deeply subordinated notes included in equity attributable to equity holders of the parent + €0.8bn of deeply subordinated notes issued by Natixis included in minority interests 2 Minority interests (prudential definition) notably excluding the deeply subordinated notes issued by Natixis
Results for full-year 2013 February 19, 2014 46
1 Estimate 2 Pro forma to take into account the IRB approach homologation for exposure to the Caisses d’Epargne retail customers segment
Annex – Financial structure Prudential ratios under Basel 2.5 and credit ratings
Dec. 31, 20131
Dec. 31, 2012
Dec. 31, 20112
Total risk-weighted assets
€369bn €381bn €388bn
Core Tier-1 capital €42.0bn €40.9bn €35.4bn
Tier-1 capital €47.3bn €46.5bn €41.1bn
Core Tier-1 ratio 11.4% 10.7% 9.1%
Tier-1 ratio 12.8% 12.2% 10.6%
Total capital ratio 14.4% 12.5% 11.6%
Long-term credit ratings (February 19, 2014)
A
outlook negative
A2 outlook stable
A outlook stable
Results for full-year 2013 February 19, 2014 47
Annex – Financial structure Risk-weighted assets under Basel 2.5
Dec. 31, 20131
Dec. 31, 2012
Dec. 31, 20112
Credit risk €315bn €323bn €335bn
Market risk €16bn €19bn €17bn
Operational risk €38bn €39bn €36bn
Total risk-weighted assets
€369bn €381bn €388bn
Breakdown of risk-weighted assets at December 31, 2013
1 Estimate 2 Pro forma to take into account the IRB approach homologation for exposure to the Caisses d’Epargne retail customers segment
Breakdown of risk-weighted assets
Results for full-year 2013 February 19, 2014 48
Annex – Commercial Banking and Insurance Annual income statement per business line
* Principal component: Crédit Foncier
2013 2012 % 2013 2012 % 2013 2012 % 2013 2012 % 2013 2012 %
Net banking income 6,390 6,033 5.9% 6,997 6,756 3.6% 777 808 -3.8% 1,214 1,183 2.6% 15,378 14,780 4.0%
Operating expenses -4,205 -4,185 0.5% -4,562 -4,518 1.0% -546 -586 -6.8% -790 -775 1.9% -10,103 -10,064 0.4%
Gross operating income 2,185 1,848 18.2% 2,435 2,238 8.8% 231 222 4.1% 424 408 3.9% 5,275 4,716 11.9%
Cost / income ratio 65.8% 69.4% -3.6 pts 65.2% 66.9% -1.7 pt 70.3% 72.5% -2.3 pts 65.1% 65.5% -0.4 pt 65.7% 68.1% -2.4 pts
Cost of risk -685 -747 -8.3% -529 -441 20.0% -250 -132 89.4% -110 -127 -13.4% -1,574 -1,447 8.8%
Income before tax 1,525 1,126 35.4% 1,904 1,797 6.0% 0 105 -100.0% 498 444 12.2% 3,927 3,472 13.1%
Income tax -571 -388 47.2% -780 -650 20.0% 2 -41 -104.9% -129 -116 11.2% -1,478 -1,195 23.7%
Minority interests -6 -7 -14.3% 0 0 ns -2 -1 ns -33 -36 ns -41 -44 -6.8%
Net income attributable to
equity holders of the parent 948 731 29.7% 1,124 1,147 -2.0% 0 63 -100.0% 336 292 15.1% 2,408 2,233 7.8%
Insurance, International & Other
networksCommercial Banking & Insurance
In millions of euros
Banques Populaires Caisses d'Epargne Real Estate Financing (*)
Results for full-year 2013 February 19, 2014 49
Annex – Commercial Banking and Insurance Quarterly income statement per business line
* Principal component: Crédit Foncier
(*)
Q4-13 Q4-12 % Q4-13 Q4-12 % Q4-13 Q4-12 % Q4-13 Q4-12 % Q4-13 Q4-12 %
Net banking income 1,632 1,507 8.3% 1,785 1,743 2.4% 199 208 -4.3% 325 301 8.0% 3,941 3,759 4.8%
Operating expenses -1,051 -1,052 -0.1% -1,164 -1,194 -2.5% -147 -169 -13.0% -216 -212 1.9% -2,578 -2,627 -1.9%
Gross operating income 581 455 27.7% 621 549 13.1% 52 39 33.3% 109 89 22.5% 1,363 1,132 20.4%
Cost / income ratio 64.4% 69.8% -5.4 pts 65.2% 68.5% -3.3 pts 73.9% 81.3% -7.4 pts 66.5% 70.4% -4.0 pts 65.4% 69.9% -4.5 pts
Cost of risk -165 -181 -8.8% -126 -103 22.3% -154 -51 ns -8 -29 -72.4% -453 -364 24.5%
Income before tax 424 283 49.8% 492 446 10.3% -88 -6 ns 147 102 44.1% 975 825 18.2%
Income tax -162 -105 54.3% -201 -150 34.0% 24 8 ns -67 -30 123.3% -406 -277 46.6%
Minority interests -1 1 ns 0 0 ns 0 0 ns -12 -11 9.1% -13 -10 30.0%
Net income attributable to
equity holders of the parent 261 179 45.8% 291 296 -1.7% -64 2 ns 68 61 11.5% 556 538 3.3%
In millions of euros
Banques Populaires Caisses d'Epargne Real Estate Financing (*) Commercial Banking & InsuranceInsurance, International & Other
networks
Results for full-year 2013 February 19, 2014 50
Annex – Commercial Banking and Insurance Quarterly income statement
(*) In millions of euros Q1-12 Q2-12 Q3-12 Q4-12 2012 Q1-13 Q2-13 Q3-13 Q4-13 2013
Net banking income 3,774 3,646 3,601 3,759 14,780 3,752 3,891 3,794 3,941 15,378
Operating expenses -2,512 -2,456 -2,469 -2,627 -10,064 -2,483 -2,549 -2,493 -2,578 -10,103
Gross operating income 1,262 1,190 1,132 1,132 4,716 1,269 1,342 1,301 1,363 5,275
Cost / income ratio 66.6% 67.4% 68.6% 69.9% 68.1% 66.2% 65.5% 65.7% 65.4% 65.7%0 0.0 0.0 - 0 0.0 0.0 0.0 - -
Cost of risk -297 -494 -292 -364 -1,447 -353 -435 -333 -453 -1,574
Income before tax 1,010 750 887 825 3,472 961 976 1,015 975 3,9270 0 0 0 0 0 0 0 0 0
Income tax -355 -257 -306 -277 -1,195 -327 -311 -434 -406 -1,478
Minority interests -12 -9 -13 -10 -44 -9 -8 -11 -13 -410 0 0 0 0 0 0 0 0 0
Net income attributable to equity
holders of the parent 643 484 568 538 2,233 625 657 570 556 2,408
Commercial Banking & Insurance
Results for full-year 2013 February 19, 2014 51
Annex – Commercial Banking and Insurance Banque Populaire banks and Caisses d’Epargne
In millions of euros Q1-12 Q2-12 Q3-12 Q4-12 2012 Q1-13 Q2-13 Q3-13 Q4-13 2013
Net banking income 1,571 1,468 1,487 1,507 6,033 1,555 1,629 1,574 1,632 6,390
Operating expenses -1,048 -1,039 -1,046 -1,052 -4,185 -1,038 -1,076 -1,040 -1,051 -4,2050 0 0 0 0 0 0 0 0 0
Gross operating income 523 429 441 455 1,848 517 553 534 581 2,185
Cost / income ratio 66.7% 70.8% 70.3% 69.8% 69.4% 66.8% 66.1% 66.1% 64.4% 65.8%0.0 0.0 0.0 - 0.0 0.0 0.0 0.0 - -
Cost of risk -174 -275 -117 -181 -747 -159 -200 -161 -165 -685
Income before tax 353 157 333 283 1,126 363 359 379 424 1,5250 0 0 0 0 0 0 0 0 0
Income tax -134 -54 -95 -105 -388 -128 -122 -159 -162 -571
Minority interests -5 -1 -2 1 -7 -2 0 -3 -1 -60 0 0 0 0 0 0 0 0 0
Net income attributable to equity
holders of the parent 214 102 236 179 731 233 237 217 261 948
Banques Populaires
In millions of euros Q1-12 Q2-12 Q3-12 Q4-12 2012 Q1-13 Q2-13 Q3-13 Q4-13 2013
Net banking income 1,683 1,681 1,649 1,743 6,756 1,731 1,758 1,723 1,785 6,997
Operating expenses -1,128 -1,102 -1,094 -1,194 -4,518 -1,133 -1,145 -1,120 -1,164 -4,5620 0 0 0 0 0 0 0 0 0
Gross operating income 555 579 555 549 2,238 598 613 603 621 2,435
Cost / income ratio 67.0% 65.6% 66.3% 68.5% 66.9% 65.5% 65.1% 65.0% 65.2% 65.2%0.0 0.0 0.0 - 0.0 0.0 0.0 0.0 - -
Cost of risk -95 -126 -117 -103 -441 -130 -139 -134 -126 -529
Income before tax 460 453 438 446 1,797 467 475 470 492 1,9040 0 0 0 0 0 0 0 0 0
Income tax -166 -169 -165 -150 -650 -169 -177 -233 -201 -780
Minority interests 0 0 0 0 0 0 0 0 0 00 0 0 0 0 0 0 0 0 0
Net income attributable to
equity holders of the parent 294 284 273 296 1,147 298 298 237 291 1,124
Caisses d'Epargne
Results for full-year 2013 February 19, 2014 52
% change 2013 / 2012
Demand deposits +6.5%
Passbook savings accounts
+6.1%
Regulated home savings plans
+2.2%
Term accounts, PEP +8.9%
Mutual funds -7.7%
Employee savings +2.7%
Life insurance +3.2%
Other1 ns
Total deposits & savings
+4.2%
Annex - Commercial Banking and Insurance Banque Populaire network: customer deposits & savings (in €bn)
1 As of Q2-13, deposits from financial institutions are presented under the heading “Other”. The figures for previous periods have been restated accordingly
Results for full-year 2013 February 19, 2014 53
% change 2013 / 2012
Real-estate loans +7.0%
Consumer loans and
short-term credit facilities -2.5%
Equipment loans +0.8%
Other ns
Total loans +3.5%
Annex - Commercial Banking and Insurance Banque Populaire network: customer loan outstandings (in €bn)
Results for full-year 2013 February 19, 2014 54
% change 2013 / 2012
Demand deposits +15.0%
Passbook savings accounts
-0.8%
Regulated home savings plans
+7.5%
Term accounts, PEP & miscellaneous
+22.2%
BPCE bonds placed in the CE network
+1.9%
Mutual funds & miscellaneous
-11.4%
Life insurance +1.8%
Other1 ns
Total deposits & savings
+3.2%
Annex - Commercial Banking and Insurance Caisse d’Epargne network: customer deposits & savings (in €bn)
1 As of Q2-13, deposits from financial institutions are presented under the heading “Other”. The figures for previous periods have been restated accordingly
Results for full-year 2013 February 19, 2014 55
% change 2013 / 2012
Real-estate loans +9.8%
Consumer loans and
short-term credit facilities +4.9%
Equipment loans +6.5%
Other ns
Total loans +8.4%
Annex - Commercial Banking and Insurance Caisse d’Epargne network: customer loan outstandings (in €bn)
Results for full-year 2013 February 19, 2014 56
Annex – Commercial Banking and Insurance Real estate Financing Insurance, International and Other networks
* Principal component: Crédit Foncier
* (*)
In millions of euros Q1-12 Q2-12 Q3-12 Q4-12 2012 Q1-13 Q2-13 Q3-13 Q4-13 2013
Net banking income 211 199 190 208 808 183 187 208 199 777
Operating expenses -142 -130 -145 -169 -586 -136 -129 -134 -147 -5460 0 0 0 0 0 0 0 0 0
Gross operating income 69 69 45 39 222 47 58 74 52 231
Cost / income ratio 67.3% 65.3% 76.3% 81.3% 72.5% 74.3% 69.0% 64.4% 73.9% 70.3%0.0 0.0 0.0 - 0.0 0.0 0.0 0.0 - -
Cost of risk -3 -50 -28 -51 -132 -33 -32 -31 -154 -250
Income before tax 65 27 19 -6 105 15 28 45 -88 00 0 0 0 0 0 0 0 0 0
Income tax -24 -8 -17 8 -41 -4 -1 -17 24 2
Minority interests 0 -1 0 0 -1 0 -1 -1 0 -20 0 0 0 0 0 0 0 0 0
Net income attributable to
equity holders of the parent 41 18 2 2 63 11 26 27 -64 0
Real Estate Financing (*)
In millions of euros Q1-12 Q2-12 Q3-12 Q4-12 2012 Q1-13 Q2-13 Q3-13 Q4-13 2013
Net banking income 309 298 275 301 1,183 283 317 289 325 1,214
Operating expenses -194 -185 -184 -212 -775 -176 -199 -199 -216 -790
Gross operating income 115 113 91 89 408 107 118 90 109 424
Cost / income ratio 62.8% 62.1% 66.9% 70.4% 65.5% 62.2% 62.8% 68.9% 66.5% 65.1%0.0 0.0 0.0 - 0.0 0.0 0.0 0.0 - -
Cost of risk -25 -43 -30 -29 -127 -31 -64 -7 -8 -110
Income before tax 132 113 97 102 444 116 114 121 147 4980 0 0 0 0 0 0 0 0 0
Income tax -31 -26 -29 -30 -116 -26 -11 -25 -67 -129
Minority interests -7 -7 -11 -11 -36 -7 -7 -7 -12 -330 0 0 0 0 0 0 0 0 0
Net income attributable to
equity holders of the parent 94 80 57 61 292 83 96 89 68 336
Insurance, International & Other networks
Results for full-year 2013 February 19, 2014 57
Annex – Wholesale Banking, Investment Solutions and SFS Annual income statement per business line
Q3-13
Q3-12
2013 2012 % 2013 2012 % 2013 2012 % 2013 2012 %
Net banking income 2,867 2,836 1.1% 2,259 2,065 9.4% 1,272 1,192 6.7% 6,398 6,093 5.0%
Operating expenses -1,657 -1,719 -3.6% -1,662 -1,528 8.8% -833 -790 5.4% -4,152 -4,037 2.8%
Gross operating income 1,210 1,117 8.3% 597 537 11.2% 439 402 9.2% 2,246 2,056 9.2%
Cost / income ratio 57.8% 60.6% -2.8 pts 73.6% 74.0% -0.4 pt 65.5% 66.3% -0.8 pt 64.9% 66.3% -1.4 pt
Cost of risk -312 -265 17.7% 12 0 ns -80 -76 5.3% -380 -341 11.4%
Income before tax 899 852 5.5% 627 552 13.6% 358 326 9.8% 1,884 1,730 8.9%
Income tax -323 -306 5.6% -159 -123 29.3% -124 -111 11.7% -606 -540 12.2%
Minority interests -161 -152 5.9% -136 -145 -6.2% -67 -64 4.7% -364 -361 0.8%
Net income attributable to
equity holders of the parent 415 394 5.3% 332 284 16.9% 167 151 10.6% 914 829 10.3%0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
In millions of euros
Wholesale Banking, Investment
Solutions & Specialized
Financial Services
Wholesale Banking Investment Solutions Specialized Financial Services
Results for full-year 2013 February 19, 2014 58
Annex – Wholesale Banking, Investment Solutions and SFS Quarterly income statement per business line
Q3-13
Q3-12
Q4-13 Q4-12 % Q4-13 Q4-12 % Q4-13 Q4-12 % Q4-13 Q4-12 %
Net banking income 651 684 -4.8% 640 582 10.0% 325 307 5.9% 1,616 1,573 2.7%
Operating expenses -396 -445 -11.0% -456 -411 10.9% -219 -206 6.3% -1,071 -1,062 0.8%
Gross operating income 255 239 6.7% 184 171 7.6% 106 101 5.0% 545 511 6.7%
Cost / income ratio 60.8% 65.1% -4.2 pts 71.3% 70.6% 0.6 pt 67.4% 67.1% 0.3 pt 66.3% 67.5% -1.2 pt
Cost of risk -87 -85 2.4% 14 2 x 7 -21 -22 -4.5% -94 -105 -10.5%
Income before tax 168 154 9.1% 206 176 17.0% 84 79 6.3% 458 409 12.0%
Income tax -60 -55 9.1% -52 -40 30.0% -31 -28 10.7% -143 -123 16.3%
Minority interests -30 -28 7.1% -44 -55 -20.0% -16 -14 14.3% -90 -97 -7.2%
Net income attributable to
equity holders of the parent 78 71 9.9% 110 81 35.8% 37 37 0.0% 225 189 19.0%0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
In millions of euros
Wholesale Banking Investment Solutions Specialized Financial Services
Wholesale Banking, Investment
Solutions & Specialized
Financial Services
Results for full-year 2013 February 19, 2014 59
Annex – Wholesale Banking, Investment Solutions and SFS Quarterly income statement per business line
In millions of euros Q1-12 Q2-12 Q3-12 Q4-12 2012 Q1-13 Q2-13 Q3-13 Q4-13 2013
Net banking income 1,560 1,510 1,450 1,573 6,093 1,620 1,565 1,597 1,616 6,398
Operating expenses -993 -1,003 -979 -1,062 -4,037 -1,025 -1,034 -1,022 -1,071 -4,1520 0 0
Gross operating income 567 507 471 511 2,056 595 531 575 545 2,246
Cost / income ratio 63.7% 66.4% 67.5% 67.5% 66.3% 63.3% 66.1% 64.0% 66.3% 64.9%
Cost of risk -57 -86 -93 -105 -341 -99 -93 -94 -94 -380
Income before tax 515 425 381 409 1,730 500 442 484 458 1,8840 0 0 0 0 0 0 0 0 0
Income tax -167 -126 -124 -123 -540 -165 -137 -161 -143 -606
Minority interests -101 -92 -71 -97 -361 -93 -87 -94 -90 -3640 0 0 0 0 0 0 0 0 0
Net income attributable to
equity holders of the parent 247 207 186 189 829 242 218 229 225 914
Wholesale Banking, Investment Solutions & Specialized Financial Services
Results for full-year 2013 February 19, 2014 60
Annex – Wholesale Banking Quarterly income statement
In millions of euros Q1-12 Q2-12 Q3-12 Q4-12 2012 Q1-13 Q2-13 Q3-13 Q4-13 2013
Net banking income 762 702 688 684 2,836 798 679 739 651 2,867
Operating expenses -431 -433 -410 -445 -1,719 -432 -413 -416 -396 -1,6570 0 0 0 0 0 0 0 0 0
Gross operating income 331 269 278 239 1,117 366 266 323 255 1,210
Cost / income ratio 56.6% 61.7% 59.6% 65.1% 60.6% 54.1% 60.8% 56.3% 60.8% 57.8%0 0 0 0
Cost of risk -36 -65 -79 -85 -265 -82 -72 -71 -87 -312
Income before tax 295 204 199 154 852 284 194 253 168 8990 0 0 0 0 0 0 0 0 0
Income tax -106 -74 -71 -55 -306 -102 -70 -91 -60 -323
Minority interests -52 -37 -35 -28 -152 -50 -35 -46 -30 -1610 0 0 0 0 0 0 0 0 0
Net income attributable to
equity holders of the parent 137 93 93 71 394 132 89 116 78 415
Wholesale Banking
Results for full-year 2013 February 19, 2014 61
Annex – Investment Solutions Quarterly income statement
In millions of euros Q1-12 Q2-12 Q3-12 Q4-12 2012 Q1-13 Q2-13 Q3-13 Q4-13 2013
Net banking income 511 494 478 582 2,065 513 557 549 640 2,259
Operating expenses -371 -372 -374 -411 -1,528 -388 -415 -403 -456 -1,6620 0 0 0 0 0 0 0 0 0
Gross operating income 140 122 104 171 537 125 142 146 184 597
Cost / income ratio 72.6% 75.3% 78.2% 70.6% 74.0% 75.6% 74.5% 73.4% 71.3% 73.6%- - - - - - - - - -
Cost of risk 0 -3 1 2 0 1 -1 -2 14 12
Income before tax 145 123 108 176 552 130 145 146 206 6270 0 0 0 0 0 0 0 0 0
Income tax -33 -24 -26 -40 -123 -31 -37 -39 -52 -159
Minority interests -34 -36 -20 -55 -145 -27 -32 -33 -44 -1360 0 0 0 0 0 0 0 0 0
Net income attributable to
equity holders of the parent 78 63 62 81 284 72 76 74 110 332
Investment Solutions
Results for full-year 2013 February 19, 2014 62
Annex – Specialized Financial Services Quarterly income statement
In millions of euros Q1-12 Q2-12 Q3-12 Q4-12 2012 Q1-13 Q2-13 Q3-13 Q4-13 2013
Net banking income 287 314 284 307 1,192 309 329 309 325 1,272
Operating expenses -191 -198 -195 -206 -790 -205 -206 -203 -219 -8330 0 0 0 0 0 0 0 0 0
Gross operating income 96 116 89 101 402 104 123 106 106 439
Cost / income ratio 66.6% 63.1% 68.7% 67.1% 66.3% 66.3% 62.6% 65.7% 67.4% 65.5%- - - - - - - - - -
Cost of risk -21 -18 -15 -22 -76 -18 -20 -21 -21 -800 0 0 0 0 0 0 0 0 0
Income before tax 75 98 74 79 326 86 103 85 84 3580 0 0 0 0 0 0 0 0 0
Income tax -28 -28 -27 -28 -111 -32 -30 -31 -31 -124
Minority interests -15 -19 -16 -14 -64 -16 -20 -15 -16 -670 0 0 0 0 0 0 0 0 0
Net income attributable to
equity holders of the parent 32 51 31 37 151 38 53 39 37 167
Specialized Financial Services
Results for full-year 2013 February 19, 2014 63
Annex – Equity interests Quarterly income statement
In millions of euros Q1-12 Q2-12 Q3-12 Q4-12 2012 Q1-13 Q2-13 Q3-13 Q4-13 2013
Net banking income 424 430 412 445 1,711 396 425 382 450 1,653
Operating expenses -360 -336 -344 -356 -1,396 -343 -345 -330 -377 -1,3950 0 0
Gross operating income 64 94 68 89 315 53 80 52 73 2580 0 0 0
Cost of risk -3 -2 -2 2 -5 -1 4 -4 3 2
Income before tax 62 95 67 61 285 56 86 47 44 2330 0 0
Income tax -22 -34 -25 -57 -138 -23 -36 -22 -25 -106
Minority interests -17 -28 -21 -15 -81 -16 -23 -16 -27 -820 0 0 0 0 0 0 0 0 0
Net income attributable to
equity holders of the parent 23 33 21 -11 66 17 27 9 -8 450 0.0 0.0 0.0 0 0.0 0.0 0.0 0.0 0.0
Equity interests
Results for full-year 2013 February 19, 2014 64
Annex – Workout portfolio management and “Other businesses” Annual income statement
In millions of euros 2013 2012 2013 2012 2013 2012
Net banking income 189 350 -792 -988 -603 -638
Operating expenses -89 -127 -396 -311 -485 -438
Gross operating income 100 223 -1,188 -1,299 -1,088 -1,076
Cost of risk -71 -262 -19 -144 -90 -406
Income before tax 29 -45 -1,184 -1,699 -1,155 -1,744
Income tax -14 15 305 492 291 507
Minority interests 1 9 165 247 166 256
Net income attributable to equity holders
of the parent 16 -21 -714 -960 -698 -981
Workout portfolio
management Other businesses
Workout portfolio
management & Other
businesses
Results for full-year 2013 February 19, 2014 65
Annex – Workout portfolio management and “Other businesses” Quarterly income statement
In millions of euros Q4-13 Q4-12 Q4-13 Q4-12 Q4-13 Q4-12
Net banking income 77 159 -250 -424 -173 -265
Operating expenses -19 -25 -211 -87 -230 -112
Gross operating income 58 134 -461 -511 -403 -377
Cost of risk -6 -170 -15 -7 -21 -177
Income before tax 52 -36 -476 -769 -424 -805
Income tax -22 12 154 178 132 190
Minority interests -4 -5 56 79 52 74
Net income attributable to equity holders
of the parent 26 -29 -266 -512 -240 -541
Workout portfolio
management Other businesses
Workout portfolio
management & Other
businesses
Results for full-year 2013 February 19, 2014 66
Annex – Workout portfolio management and “Other businesses” Quarterly income statement
In millions of euros Q1-12 Q2-12 Q3-12 Q4-12 2012 Q1-13 Q2-13 Q3-13 Q4-13 2013
Net banking income -308 85 -150 -265 -638 -89 -153 -188 -173 -603
Operating expenses -88 -104 -134 -112 -438 -93 -95 -67 -230 -4850 0 0 0 0 0 0 0 0 0
Gross operating income -396 -19 -284 -377 -1,076 -182 -248 -255 -403 -1,0880 0 0 0 0 0 0 0 0 0
Cost of risk -103 -66 -60 -177 -406 -32 -9 -28 -21 -90
Income before tax -506 -83 -350 -805 -1,744 -213 -236 -282 -424 -1,155
Income tax 164 9 144 190 507 59 87 13 132 291
Minority interests 94 18 70 74 256 24 30 60 52 1660 0 0 0 0 0 0 0 0 0
Net income attributable to
equity holders of the parent -248 -56 -136 -541 -981 -130 -119 -209 -240 -698
Workout portfolio management & Other businesses
Results for full-year 2013 February 19, 2014 67
Annex – Workout portfolio management Quarterly income statement
In millions of euros Q1-12 Q2-12 Q3-12 Q4-12 2012 Q1-13 Q2-13 Q3-13 Q4-13 2013
Net banking income 22 71 98 159 350 60 24 28 77 189
Operating expenses -31 -41 -30 -25 -127 -23 -24 -23 -19 -890 0 0 0 0 0 0 0 0 0
Gross operating income -9 30 68 134 223 37 0 5 58 1000 0 0 0
Cost of risk -40 -31 -21 -170 -262 -24 -17 -24 -6 -710 0 0 0 0 0 0 0 0 0
Income before tax -49 -1 41 -36 -45 13 -17 -19 52 290 0 0 0
Income tax 18 1 -16 12 15 -5 7 6 -22 -14
Minority interests 12 8 -6 -5 9 -3 3 5 -4 10 0 0 0 0 0 0 0 0 0
Net income attributable to
equity holders of the parent -19 8 19 -29 -21 5 -7 -8 26 16
Workout portfolio management
Results for full-year 2013 February 19, 2014 68
Impact of non-operating items on the attributable net income of the “Other businesses” line:
2013 net income attributable to equity holders of the parent: main items for a total impact of -€265m
> Revaluation of own debt: –€123m
> Net impact of the disposal of international assets and covered bond buyback operations: -€91m
> Prolonged decline in value of the interest in Banca Carige: - €36m
> Goodwill impairment: - €15m
2012 net income attributable to equity holders of the parent: main items for a total impact of -€548m
> Goodwill impairment: - €251m
> Revaluation of own debt: - €198m
> Prolonged decline in value of the interest in Banca Carige: - €190m
> Reimbursement of Check Imaging Exchange Penalty: + €91m
Annex – “Other businesses” Quarterly income statement
In millions of euros Q1-12 Q2-12 Q3-12 Q4-12 2012 Q1-13 Q2-13 Q3-13 Q4-13 2013
Net banking income -330 14 -248 -424 -988 -149 -177 -216 -250 -792
Operating expenses -57 -63 -104 -87 -311 -70 -71 -44 -211 -3960 0 0 0 0 0 0 0 0 0
Gross operating income -387 -49 -352 -511 -1,299 -219 -248 -260 -461 -1,1880 0 0 0 0 0 0 0 0 0
Cost of risk -63 -35 -39 -7 -144 -8 8 -4 -15 -19
Income before tax -457 -82 -391 -769 -1,699 -226 -219 -263 -476 -1,1840 0 0 0 0 0 0 0 0 0
Income tax 146 8 160 178 492 64 80 7 154 305
Minority interests 82 10 76 79 247 27 27 55 56 1650 0 0 0 0 0 0 0 0 0
Net income attributable to
equity holders of the parent -229 -64 -155 -512 -960 -135 -112 -201 -266 -714
Other businesses
Results for full-year 2013 February 19, 2014 69
in millions of euros Dec. 31, 2013 Dec. 31, 2012 Dec. 31, 2011
Gross outstanding customer loans 590,704 586,479 583,062
O/w non-performing loans 23,330 21,921 20,255
Non-performing / gross outstanding loans 3.9% 3.7% 3.5%
Impairment recognized1 12,285 11,623 11,182
Impairment recognized / non-performing loans 52.7% 53.0% 55.2%
Cover rate including guarantees related to impaired outstandings
78.2% 73.7% 75.8%
Annex – Risks Groupe BPCE: non-performing loans and impairment
1 Including collective impairment
Results for full-year 2013 February 19, 2014 70
Annex - Risks Networks: non-performing loans and impairment
1 Including collective impairment
Banque Populaire banks
in millions of euros Dec. 31, 2013 Dec. 31, 2012 Dec. 31, 2011
Gross outstanding customer loans 170,601 165,115 160,048
O/w non-performing loans 8,500 8,227 7,738
Non-performing/gross outstanding loans 5.0% 5.0% 4.8%
Impairment recognized1 5,066 4,899 4,629
Impairment recognized/non-performing loans 59.6% 59.5% 59.8%
Cover rate including guarantees related to impaired outstandings
74.9% 73.6% 73.2%
Caisses d’Epargne
in millions of euros Dec. 31, 2013 Dec. 31, 2012 Dec. 31, 2011
Gross outstanding customer loans 203,189 187,266 173,211
O/w non-performing loans 4,351 3,814 3,438
Non-performing/gross outstanding loans 2.1% 2.0% 2.0%
Impairment recognized1 2,440 2,250 2,013
Impairment recognized/non-performing loans 56.1% 59.0% 58.6%
Cover rate including guarantees related to impaired outstandings
76.4% 75.9% 78.1%
Results for full-year 2013 February 19, 2014 71
Breakdown of commitments to Corporates and Professionals by industrial sector
Breakdown of commitments by counterparty
1 of which 12% in France
Annex – Risks Breakdown of commitments as at December 31, 2013
€1,003bn
Results for full-year 2013 February 19, 2014 72
Institutions Sovereigns Corporates
Annex - Risks Geographical breakdown of commitments as at December 31, 2013
Results for full-year 2013 February 19, 2014 73
Other non-guaranteed portfolios
1 Value at risk 2 Figures as at October 31, 2013
Type of asset (nature of portfolio)
Notional in €bn
Net Value in €bn
Discount rate RWA
before guarantee in €bn
ABS CDOs 0.7 0.1 80%
8.3
Other CDOs 1.3 1.0 23%
RMBS 0.2 0.1 34%
Covered bonds 0.0 0.0 0%
CMBS 0.1 0.1 17%
Other ABS 0.2 0.2 3%
Hedged assets 3.1 2.9 6%
Corporate credit portfolio 3.2 3.2 0%
Total 8.7 7.6
o/w RMBS US agencies 0.0 0.0
Total guaranteed (85%) 8.7 7.6
Guaranteed portfolios (Financial Guarantee & TRS)
Annex – Risks Detailed exposure as of December 31, 2013 Risk-weighted assets under Basel 3
Type of asset (type of portfolio)
RWA Dec. 31, 2013
in €bn
VaR1 Q4-13 in €m
Complex derivatives (credit)2 0.0 0.0
Complex derivatives (rates) 0.3 1.5
Complex derivatives (equities) 0.0 0.0
Fund-linked structured products 0.5 0.1
Results for full-year 2013 February 19, 2014 74
Net direct exposure of credit institutions in the banking portfolio1 (in €m)
Annex - Risks Exposure to the sovereign debts of peripheral European countries
1 Methodology drawn up by the European Banking Authority (EBA) for the December 2013 transparency exercise; figures at December 31, 2012 have been recalculated using the same methodology – net direct exposure, excluding derivatives 2 Exposures are net of policyholders’ participation
Net exposures of insurance companies2 (in €m)
Results for full-year 2013 February 19, 2014 75
Annex – Risks Exposure to European sovereign risks1 (in €m) as at December 31, 2013 based on the model drawn up by the EBA2
1 Exposure of the banking activities on a consolidated basis 2 Methodology drawn up by the European Banking Authority (EBA) for the December 2013 transparency exercise; figures at December 31, 2012 have been recalculated using the same methodology – net direct exposure, excluding derivatives
In millions of euros
Direct sovereign
exposure in
derivatives at
December 31,
2013
Indirect
sovereign
exposure in the
trading book at
December 31,
2013
of which banking
book
of which trading
book
Net position at
fair values
Net position at
fair values
of which banking
book
Austria 645 213 306 -93 -59 0 424 273
Belgium 1,976 1,651 1,102 549 35 87 1,348 1,300
Bulgaria 0 0 0 0 0 0 0 0
Cyprus 52 52 52 0 0 0 60 60
Czech Republic 48 48 48 0 0 0 93 93
Denmark 96 96 91 5 -28 0 98 94
Estonia 0 0 0 0 0 0 0 0
Finland 34 29 0 29 -11 0 -103 0
France 49,957 34,564 39,212 -4,648 -624 -87 32,802 36,206
Germany 4,554 -4,844 109 -4,953 818 0 -789 379
Greece 19 19 19 0 0 0 13 13
Hungary 105 90 36 54 -18 -15 54 44
Iceland 152 152 0 152 0 20 0 0
Ireland 191 191 190 1 0 0 176 176
Italy 10,196 4,147 3,579 567 17 8 4,018 3,715
Latvia 0 0 0 0 -2 0 0 0
Liechtenstein 0 0 0 0 0 0 0 0
Lithuania 18 18 0 18 -50 68 33 0
Luxembourg 10 10 10 0 0 0 0 0
Malta 0 0 0 0 0 0 0 0
Netherlands 1,589 941 556 385 -213 0 75 3
Norway 0 0 0 0 3 0 0 0
Poland 406 378 366 13 0 -2 492 494
Portugal 66 66 55 11 0 0 132 59
Romania 0 0 0 0 0 0 0 0
Slovakia 113 113 113 -1 0 0 247 247
Slovenia 217 217 217 0 0 0 259 259
Spain 1,100 22 24 -2 -6 0 216 27
Sweden 1 1 0 1 0 0 0 0
United Kingdom 0 0 0 0 0 0 0 0
TOTAL EEA 30 71,547 38,173 46,086 -7,914 -138 80 39,649 43,442
EEA 30
Gross direct
exposure at
December 31,
2013
Net direct exposure, excluding derivatives, at
December 31, 2013Net direct exposure, excluding
derivatives, at December 31, 2012
Results for full-year 2013 February 19, 2014 76
Annex - Risks Exposure1 to countries subject to a rescue plan (in €bn) at December 31, 2013
in billions of euros Sovereign
debt Corporates Other
Total banking portfolio Dec. 31,
2013
Total banking portfolio Dec. 31,
2012
Cyprus 0.1 0.1 0.0 0.1 0.2
Greece 0.0 0.3 0.0 0.3 0.3
Portugal 0.0 0.2 1.6 1.8 2.1
Total 0.1 0.5 1.6 2.2 2.6
1 Exposures calculated according to the methodology defined by the EBA (European Banking Agency) in July 2011 (gross balance sheet and off-balance sheet EAD)
Results for full-year 2013 February 19, 2014 77
Annex - Sensitive exposures (excluding Natixis) Recommendations of the Financial Stability Forum
Foreword
With the exception of the summary provided on the next page, the following information is based on the scope of consolidation of Groupe BPCE (excluding Natixis)
For specific details about the sensitive exposures of Natixis, please refer to the financial presentation dated February 19, 2014 published by Natixis
Contents > CDO (Collateralized Debt Obligations)
> CMBS (Commercial Mortgage-backed Securities)
> RMBS (Residential Mortgage-backed Securities)
> Protection acquired
Results for full-year 2013 February 19, 2014 78
in millions of euros Groupe BPCE (excl. Natixis)
Natixis Total
Dec. 31, 2013 Total
Sept. 30, 2013
Net exposure
CDOs of ABS (Asset-backed Securities)
US residential market 0 91 91 98
Net exposure
Other at-risk CDOs 1,009 736 1,745 1,955
Net exposure
CMBS
RMBS (Spain, US and the UK)
192
295
0
36
192
331
277
463
Total net exposure
Unhedged exposure 1,496 863 2,359 2,793
Monolines: residual exposure after value adjustments
CDPC (Credit Derivative Product Companies): exposure after value adjustments
0
0
295
6
295
6
311
56
Annex - Groupe BPCE FSF report at December 31, 2013 Summary of sensitive exposures
Results for full-year 2013 February 19, 2014 79
in millions of euros
Net exposure Sept. 30,
2013
Change in value Q4-13
Other changes Q4-13
Net exposure Dec. 31,
2013
Gross exposure Dec. 31,
2013
Portfolio at fair value through profit or loss 42 5 0 47 84
Portfolio at fair value through shareholders' equity
52 -1 10 61 69
Portfolio of loans and receivables 925 -26 2 901 916
TOTAL 1,019 -22 12 1,009 1,069
Breakdown of residual exposure by rating
Breakdown of residual exposure by type of product
Annex - Sensitive exposures (excluding Natixis) Other CDOs (unhedged)
Results for full-year 2013 February 19, 2014 80
in millions of euros
Net exposure Sept. 30,
2013
Change in value Q4-13
Other changes Q4-13
Net exposure Dec. 31,
2013
Gross exposure Dec. 31,
2013
Portfolio at fair value through profit or loss 1 0 0 1 1
Portfolio at fair value through shareholders’ equity
35 -4 0 31 31
Portfolio of loans and receivables 190 -30 0 160 248
TOTAL 226 -34 0 192 280
Breakdown of residual exposure by rating
Breakdown of residual exposure by geographical region
Annex - Sensitive exposures (excluding Natixis) CMBS
Results for full-year 2013 February 19, 2014 81
94%
6%
AAA
AA and AA-
UK RMBS portfolio
in millions of euros
Net exposure Sept. 30,
2013
Change in value Q4-13
Other changes Q4-13
Net exposure Dec. 31,
2013
Gross exposure Dec. 31,
2013
Portfolio at fair value through profit or loss 0 0 0 0 0
Portfolio at fair value through shareholders' equity
146 -3 -7 136 138
Portfolio of loans and receivables 10 -1 0 9 9
TOTAL 156 -4 -7 145 147
Breakdown of residual exposure by rating
56%
44%
AA-, A and A-
BBB + and <
Spanish RMBS portfolio
in millions of euros
Net exposure Sept. 30,
2013
Change in value Q4-13
Other changes Q4-13
Net exposure Dec. 31,
2013
Gross exposure Dec. 31,
2013
Portfolio at fair value through profit or loss 146 -1 0 145 161
Portfolio at fair value through shareholders' equity
2 - 0 0 2 2
Portfolio of loans and receivables 3 0 0 3 3
TOTAL 151 -1 0 150 166
Breakdown of residual exposure by rating
Groupe BPCE (excluding Natixis) does not have any exposure to RMBS in the United States
Annex - Sensitive exposures (excluding Natixis) RMBS
Results for full-year 2013 February 19, 2014 82
Credit enhancers (monoline)
Protection acquired from credit enhancers by Crédit Foncier for financial assets is in the form of financial guarantees (and not CDS) and represents a guarantee attached to the enhanced asset
These enhancement commitments are thus not considered as directly exposed to monolines
Protections acquired from other counterparties
Of which 2 operations corresponding to the Negative Basis Trades strategies
> 2 senior tranches of European CLOs rated AAA/AAA and AAA/AA+ by two rating agencies
> Counterparty risk on two sellers of protection (European banks) covered by margin calls
in millions of euros Gross nominal amount of the hedged instruments
Impairment of hedged CDOs
Fair value of the protection
Protection for CDOs (US residential market) - - -
Protection for other CDOs 271 -11 11
TOTAL 271 -11 11
Annex - Sensitive exposures (excluding Natixis) Protections acquired
Results for full-year 2013 February 19, 2014 83
Economy
> Financing the local economy: pursuit of financing activities in all French regions
> Supporting the social economy
> Key player in local employment: 87% of the Group’s suppliers are SMEs accounting for 40% of aggregate procurement in 2013
Human Resources
> Groupe BPCE, a major force in recruitment
> Real commitment to gender equality
> A socially responsible – and socially committed – purchasing policy
Environment
> Providing funding for energy transition • At a local level: 1st French bank chosen by the European
Commission to improve the distribution of eco-loans in liaison with local authorities
• Among its customers: eco-loans for individual and professional customers
> Determined steps taken to reduce the Group’s carbon footprint
Societal action
> Investment in social solidarity: one of the leading asset managers specializing in SRI and solidarity-based funds in France and Europe
> Financing social solidarity: one of the leaders in solidarity-based employee savings in France and leading French banking group providing micro-credit solutions
Annex - Groupe BPCE, a socially responsible corporate citizen Monitoring the Group’s CSR indicators 2013/2012
Sensitive urban areas served by the Group or close to Banque Populaire or Caisse d’Epargne branches
36% 33%
Total amount of loans providing support for the social economy granted in 2013
€0.8bn €0.7bn
Number of new recruits on permanent contracts 1 3,418 3,992
Number of recruits on work-study contracts 2,285 2,169
Percentage of female managerial staff on permanent contracts
37% 36%
FTE in disability-friendly companies 350 317
ELENA-KFW European pilot program designed to improve the distribution of eco-loans working in liaison with local authorities
4 banks with pilot
programs, 3 partnerships
signed
Signature in October
2012
Eco-loan outstandings of the Caisses d’Epargne and Banque Populaire banks
€2bn
€2bn
Group entities having completed a carbon audit
98% 82%
Assets under SRI and solidarity-based management in France
€13.4bn €13.9bn
Solidarity-based employee savings deposits €1.4bn €0.9bn
Number of microloans under management and their aggregate amount
+ 13,000 microloans
for €91m
+ 12,000 microloans
for €85m
1 Including work-study contracts
2013 2012
Results for full-year 2013 February 19, 2014 84