NOVEMBER 29, 2017
INVESTOR DAY Presentation of the Strategic Plan 2018-2020
AGENDA
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 2
MARGUERITE BRARD-ANDRIEU Group Finance, Strategy, Legal Affairs, Secretarys Office of the Supervisory Board
STRATEGIC CONVICTIONS
STRATEGIC GUIDELINES 2018-2020
FINANCIAL TRAJECTORY
CATHERINE HALBERSTADT Human Resources, Internal Corporate Communications, Corporate Secretarys Office of BPCE SA
JACQUES BEYSSADE Risks, Compliance, Permanent Control
FRANOIS PROL
YVES TYRODE Digital
LAURENT MIGNON Natixis
JEAN-YVES FOREL Transformation and Operational Excellence
LAURENT ROUBIN Commercial Banking and Insurance
QUESTIONS & ANSWERS
QUESTIONS & ANSWERS WITH THE MEMBERS OF THE EXECUTIVE MANAGEMENT COMMITTEE
14:00 14:40 14:40 15:45 15:45 16:00 16:00 17:00
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 3
STRATEGIC CONVICTIONS
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 4
OUR FIRST TWO STRATEGIC PLANS ALLOWED THE CONSTRUCTION, RECOVERY AND THEN DEVELOPMENT OF THE GROUP
FOCUS of allocated resources on the customer-driven activities of our banking and insurance businesses
REDUCTION in the level of RISK
SYNERGIES in revenues and costs
SIMPLIFICATION of the Groups structure
SOLVENCY and LIQUIDITY strengthened
Enhanced market share in RETAIL BANKING
Success in INVESTMENT SOLUTIONS, PRIVATE BANKING, and ASSET MANAGEMENT
Creation of an integrated INSURANCE platform
INTERNATIONAL development of Natixis
Launch of the Groups DIGITAL TRANSFORMATION
SOLVENCY and LIQUIDITY strengthened
2014 - 2017 2010 - 2013 2014 - 2017 Another way to grow
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 5
GROWING BUSINESSES Retail Banking (1/2)
LOANS (outstandings in bn)
DEPOSITS & SAVINGS (outstandings in bn)
NUMBER OF ACTIVE CUSTOMERS (in millions)
5.3 (+5% vs. 2013)
252 (+22% vs. 2013)
193 (+16% vs. 2013)
10.5 (+2% vs. 2013)
411 (+11% vs. 2013)
249 (+24% vs. 2013)
(1) For the BP: TNS 2017 figures for SMEs, 2016 CSA Research for professional customers; for the CE: Banque de France figures and documents published by the banks (2) Banque de France data at June 30, 2017
September 30, 2017 figures
GROUPE BPCE: MARKET SHARE IN FRANCE
BANK DEPOSITS & SAVINGS2
21.7%
CUSTOMER LOANS2
21.0% REAL-ESTATE LOANS2
26.3% 25.4%
2013 2017-Q2
HOUSEHOLD SHORT-TERM CREDIT FACILITIES2
17.0% 15.2%
2013 2017-Q2
+ 0.9 pt
+ 1.8 pt
No.1 in the SME market1
No.2 in the professional and micro-company market1
No.1 in the local authority and social housing market1
No.2 in the individual customer market1
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 6
GROWING BUSINESSES Retail Banking (2/2)
SPECIALIZED FINANCIAL SERVICES
(1) 2017 estimate based on 9M + [Q4=Q3] (2) Source: Association des Socits Financires (3) Direct sales; source: FFA
FACTORING2
18.5% 15.1%
2013 2017-Q2
+ 3.4 pt
INSURANCE Market share
LIFE INSURANCE3
CAR INSURANCE
2.8% 7%
X 2.5
0.7% 2.1%
X 3
COMPREHENSIVE HOME INSURANCE
1.0% 4.2%
X 4.2
2013
2013
2013
2017-Q3
2017-Q3
2017-Q3
+27%
LEASING New production (in bn)
2.6 3.3
2013 2017 1
Market share
+73%
SURETIES & FINANCIAL GUARANTEES Premiums issued (in m)
320 554
2013 2017 1
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GROWING BUSINESSES Asset & Wealth Management and Corporate & Investment Banking
A WORLD LEADER IN ACTIVE ASSET MANAGEMENT
More than 20 independently managed affiliates A worldwide, centralized and highly efficient distribution platform Priority given to alpha creation
AN INNOVATIVE AND TAILOR-MADE OFFERING
A solutions house for corporates and investors Premiumization of the strategic dialog International expansion through three platforms:
EMEA, Americas and APAC
Global asset manager based on asset under management1
ASSETS UNDER MANAGEMENT (End of period, in bn)
629 813
2013 Q3-2017
FEES / GLOBAL FINANCE NET BANKING INCOME
2013 9M-2017
38% 30%
PLATFORM REVENUES CAGR 2013 - 2017
+15% AMRIQUES APAC
+23%
ASSET & WEALTH MANAGEMENT CORPORATE & INVESTMENT BANKING
The most innovative investment bank in 2017 in the equity derivatives market3
NET BANKING INCOME (in bn)
MARGIN ON OUTSTANDINGS (in bps)
2.0 3.0
2013 2017 2
NET BANKING INCOME (in bn)
38% of CIB Net Banking
Income 20172
M&A ranking in France in number of transactions4
28.8 25.4
2013 9M-2017
(1) Source: Cerulli Associates: 2017 Global Markets report, based on outstandings at end-2016
No.15 Global asset manager based on revenues1
No.10 No.4
+11% p.a
+6% p.a
2.9 3.6
2013 2017 2
(2) Estimate for the 2017 financial year based on 9M + [Q4=Q3] results (3) Source: The Banker Investment Banking Awards
2017 (4) Source: MergerMarket at Sept. 30, 2017
NETWORKS: +2%
SFS: +10%
INSURANCE: +11%
NETWORKS:
STABLE
SFS:
+3%
INSURANCE: +14%
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 8
A DIVERSIFIED UNIVERSAL BANKING MODEL
23.0bn
18.9bn
CORPORATE & INVESTMENT
BANKING
ASSET & WEALTH MANAGEMENT
RETAIL BANKING
(1) Excluding non-economic and exceptional items
2009
+ 10%
+ 11%
+ 2%
+ 6%
+ 3%
2013 2016
21.5bn
+ 1%
GROWTH IN THE NET BANKING INCOME GENERATED BY THE BUSINESS LINES1
SUCCESSFUL DELIVERY OF THE STRATEGIC PLAN:
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 9
Leading positions in interpersonal and digital customer relations
Attracting new customers & cross-selling
+728,000 principal customers using banking services aged 25+
2017 TARGET
+1m > 80%
2017 TARGET 2017 TARGET
> 80% of the product range subscribable electronically
Results achieved as at September 30, 2017
(1/4) Another way to grow
Rolling out of the electronic signature
83% of sales signed electronically(1)
Strengthening of customer relations and digital services
78% of our customers subscribing for online banking services
(1) Sales in the first 9 months of 2017
SUCCESSFUL DELIVERY OF THE STRATEGIC PLAN:
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 10
(1) Net inflows of Natixis from December 31, 2013 to December 30, 2017 (2) on a constant basis of comparison (3) At September 30, 2017 (4) 9M-2017
Growth of the core business lines
(2/4) Another way to grow
Major player in investment solutions Creation of an integrated insurance platform
International development of Natixis
ASSETS UNDER MANAGEMENT FROM PRIVATE BANKING CUSTOMERS (in bn)
NET NEW ASSET MANAGEMENT INFLOWS (in bn)
NET INFLOW TARGET
of customers provided with non-life insurance(3)
26%
of the net banking income from the core business lines generated in the international market(4)
48% 155 191
CAGR +5.8%
6% > 50%
CAGR TARGET
75bn
2017 TARGET 2017 TARGET
28%
2013 Q3-2017
+65bn(1)
(2)
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 11
A large number of major rationalization projects successfully completed
Pooling of IT PRODUCTION FACILITIES
Absorption of 8 entities
Creation of a PAYMENTS business line
IPO of COFACE
Creation of
SUCCESSFUL DELIVERY OF THE STRATEGIC PLAN: (3/4) Another way to grow
4 mergers completed involving 12 regional banks
MERGERS
3 mergers in progress (CE Alsace-Lorraine-Champagne-Ardenne, BP Grand Ouest, Crdit Maritime), involving 8 entities
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 12
Synergy targets achieved
SUCCESSFUL DELIVERY OF THE STRATEGIC PLAN: (4/4) Another way to grow
REVENUE SYNERGIES
COST SYNERGIES
in additional revenues generated between Natixis and the retail banking networks
780m
Major contributions from insurance and specialized financial services
in cost synergies 863m
Pooling of Information Systems
Procurement Real-estate optimization
198
410
623
217
435
652
Target
Achieved
at Sept. 30, 2017
2017 2015 2016 2014
218
451
686
217
435
653
2017 2015 2016 2014
Target
Achieved
900
870
at Sept. 30, 2017
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 13
A ROBUST FINANCIAL STRUCTURE One of the strongest solvency increase in Europe
-1,0%
0,0%
+1,0%
+2,0%
+3,0%
+4,0%
+5,0%
+6,0%
+7,0%
20% 13% 12% 19% 15% 14% 11% 10% 18%
Lloyds Banking Group
Crdit Suisse
AVERAGE = 13.8%
AVERAGE = +3.1%
FULLY LOADED CET1 RATIO
AT JUNE 30, 2017
INCREASE IN THE CET1 RATIO BETWEEN END-2013 AND MID-2017 (*)
ABN Amro, Barclays, BBVA, BNP Paribas, CaixaBank, Commerzbank, Groupe Crdit Agricole, Crdit Mutuel, Credit Suisse, Deutsche Bank, Groupe BPCE, HSBC,
ING Group, Intesa Sanpaolo, Lloyds Banking Group, Nordea, Rabobank, RBS, Santander, Socit Gnrale, UBS, UniCredit - (*) Fully-loaded ratio
INCREASE IN THE CET1 RATIO DRIVEN BY RETAINED EARNINGS:
>70 bps/year
ABN Amro, Barclays, BBVA, BNP Paribas, CaixaBank, Commerzbank, Groupe Crdit Agricole, Crdit Mutuel, Credit Suisse, Deutsche Bank, Groupe BPCE, HSBC,
ING Group, Intesa Sanpaolo, Lloyds Banking Group, Nordea, Rabobank, RBS, Santander, Socit Gnrale, UBS, UniCredit
AA-
A+
A
A-
BBB+
BBB
BBB-
AVERAGE = 13.8%
FULLY-LOADED
CET1 RATIO
AT JUNE 30, 2017
NOVEMBER 29, 2017 14
A ROBUST FINANCIAL STRUCTURE One of the highest credit ratings in Europe
STANDARD & POORS LONG-TERM RATING (OCTOBER 2017) Credit rating outlook revised upwards from STABLE to POSITIVE
(October 20, 2017)
(July 26, 2017)
20% 13% 12% 19% 15% 14% 11% 10% 18%
INVESTOR DAY: 2018-2020 STRATEGIC PLAN
COMMITTED TEAMS
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 15
Key findings of the Group survey carried out among 80,000 employees (*)
HIGH LEVEL OF EMPLOYEE COMMITMENT
2017 2014
69% 70% 70%
2017 2014
74% 78%
72%
2017 2014
75% 77%
2014
81% 88%
72%
* Diapason survey response rate of 70%
External Bank Finance Insurance Benchmark
SUPPORT FOR THE GROUPS CORPORATE STRATEGY
PRIDE IN AND ATTACHMENT TO THE VALUES OF THE GROUPS COMPANIES
DEGREE OF UNDERSTANDING OF THE ONGOING TRANSFORMATION
2017
+ 2 pts + 1 pt + 4 pts + 7 pts
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 16
THE GROUP IS MORE
DYNAMIC
PERFORMANCE OF THE CORE BUSINESS LINES
Development of the customer base
Major positions in Investment Solutions and Asset Management
Revenue synergies between Natixis and the retail banking networks
EFFICIENT
ABILITY TO ADAPT, TRANSFORM AND SIMPLIFY ITS STRUCTURES
Development of a multichannel business model
Merger of regional banks Cost synergies (pooling of IT
resources, procurement, business premises, etc.)
DIVERSIFIED
NEW GEOGRAPHICAL PRESENCE AND NEW BUSINESS LINES
International development of the Corporate & Investment Banking and Asset Management activities
Fully-fledged bancassureur Creation of the Payments
business line
ROBUST
CONSOLIDATION OF THE GROUPS FINANCIAL STRENGTH
Solvency and Liquidity targets achieved ahead of schedule
Future regulatory requirements already met (TLAC)
Natixis Asset Light model Disposal of non-strategic
assets
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 17
IN WHAT REMAINS A CHALLENGING ENVIRONMENT
Stabilization in prudential regulations
New data and consumer protection measures: RGPD, MIFID 2,
dissociation of residential mortgages and payment protection
insurance
New competitive conditions: banking mobility, DSP 2
NEW REGULATORY CHALLENGES
Probably set to continue throughout the life of the strategic plan
Uncertainty regarding the timetable and pace of the return to normal
monetary policies
Negative impact on the net interest income of the retail banking division
LOW INTEREST RATES
THE MAJOR CHALLENGE BEING THE TECHNOLOGICAL & DIGITAL REVOLUTION An industrial revolution impacting all our businesses
Simplicity
Immediacy
Customization
NEW CUSTOMER BEHAVIORS AND EXPECTATIONS
Fragmentation of the producer/distributor model
Wide availability of the most common financial services
NEW BUSINESS MODELS & COMPETITION
Automation
Digitization
NEW OPERATIONAL MODELS
TECHNO- LOGIES
Robotics
Mobility
Cloud computing Big data
Artificial intelligence
Connected devices
Blockchain
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OUR CONVICTIONS
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 19
A COOPERATIVE and DECENTRALIZED business model: local presence, trust, customer insight, advisory services with powerful brands
UNIVERSAL BANKING business model: retail banking and insurance, corporate & investment banking, asset management
FINANCIAL STRENGTH
TRACK RECORD of successfully delivering on commitments made
SUPPORT of our employees
PROVIDING GREATER VALUE TO OUR CUSTOMERS
SIMPLIFYING OUR RANGE OF PRODUCTS & SERVICES AND OUR ORGANIZATIONAL STRUCTURES
WORKING DIFFERENTLY
By making COMMITMENTS to our customers, employees, and cooperative shareholders
By stepping up investment in the DIGITAL TRANSFORMATION of the Group
By pursuing GROWTH targets in each of our business lines
WE POSSESS MAJOR STRENGTHS
TO ADDRESS THE DIGITAL REVOLUTION
AND MAKE IT AN OPPORTUNITY TO SPEED UP THE PACE OF OUR DEVELOPMENT
OUR NEW STRATEGIC PLAN
ROWTH G OMMITMENT C CUSTOMER SATISFACTION: usability,
simplicity of interfaces, customization
REVENUES: digital distribution and marketing, including via third parties
PRODUCTIVITY and reduction in COSTS: customer autonomy, optimization and simplification of processes
RETAIL BANKING: innovative banks winning positions in their domestic market
PAYMENTS: a European pure-player strategy
FIDOR: the new-generation European banking community
INSURANCE: front-ranking insurance company in France
ASSET MANAGEMENT: world leader in active asset management
CORPORATE & INVESTMENT BANKING: making a difference with key sector expertise
To our CUSTOMERS: greater expertise, more solutions, higher satisfaction
To our EMPLOYEES: train our people and provide them with the tools they need, attract new talent
To our COOPERATIVE SHAREHOLDERS: become even more deeply committed in society
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IGITAL TRANSFORMATION D
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 21
STRATEGIC GUIDELINES 2018-2020
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DIGITAL TRANSFORMATION
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 23
DIGITAL ACTION PLAN LAUNCHED IN 2017 Speeding up the transformation
FOR OUR CUSTOMERS
New digital services Customization Self-care
FOR OUR EMPLOYEES
FOR OUR PARTNERS
MANAGEMENT, COORDINATION, EXPERTISE CENTER (DATA, UX, etc.)
FACTORY
PLATFORMS AND MULTIBRAND DIGITAL MIDDLEWARE
PARTNER
START-UPS
40 DIGITAL CHAMPIONS
KEEP IT SIMPLE WITH A UNIFIED DIGITAL ORGANIZATION
CO-CONSTRUCTION with the Groups companies
Only large-scale INDUSTRIAL PROJECTS
AGILE development during 6-month seasons
Equipment & mobility
Training Digital tools tailored
to their activities
Open APIs & open data Open innovation
& partner venture capital funds
DIGITAL TASKFORCE
DIGITAL TRANSFORMATION
https://www.google.fr/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwi31dnZwo7WAhWGVxoKHcGICqQQjRwIBw&url=https://www.fidor.de/&psig=AFQjCNELWSHgLufSB_2BmKKCJ2Nf5lEjyg&ust=1504717245147404https://www.google.fr/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwik5a2rxI7WAhUItRoKHSlQDaIQjRwIBw&url=https://www.fidorbank.uk/about-fidor/group&psig=AFQjCNEIS6__hVQ4yKu63t00F16o-CMIDA&ust=1504717682292255
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OUR AMBITIONS AND PERFORMANCE INDICATORS FOR 2020
DIGITAL TRANSFORMATION
90% of active customers are regular users of digital spaces
DIGITIZATION of customer behaviors
costs response times administrative tasks
OPERATIONAL EFFICIENCY + quality simplicity
10% of our sales generated through digital channels
New revenues via 3rd-party integration or distribution of our products
REVENUES direct, indirect, digital marketing
Digital NPS(*) at the pure-player level SATISFACTION Self care, UX, customization
4 TRANSFORMATION PROJECTS
OPTIMIZED OPERATING MODEL
INDUSTRIAL, AGILE & SECURE IT SYSTEMS
BENCHMARK DIGITAL SERVICES
DATA CENTRIC ENTERPRISES
1 3 2 4
(*) NPS: net promoter score
BENCHMARK DIGITAL SERVICES For our individual, professional and corporate customers
SELF CARE
CUSTOMER EXPERIENCE
ADDITIONAL REVENUES
DEVELOPMENTS
OBJECTIVE General introduction of 100% digital customer pathways: loans, savings, account opening
Pooling of apps and websites between the BP, CE and Natixis
Autonomy of customers for all everyday banking transactions
Initial building blocks for digital subscription
Further improvement of customer spaces with the adoption of predictive tools
Store of APIs enabling our corporate customers to directly integrate our financial solutions into their management systems
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 25
Customer experience of the highest standards and industrialization To optimize
our customer interfaces for account management
Speed up the acquisition of new customers and providing them with services on digital channels
DIGITAL TRANSFORMATION
EXAMPLES Appointments with advisors through the app
Management of bank cards and credit transfers
Mortgage loans: digitized simulation engine with a binding proposal, online creation of files and subscriptions
Analysis of customer spending on a comparative basis
Predictive tools to anticipate cash shortages
DATA CENTRIC ENTERPRISES Toward artificial intelligence
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 26
FOUNDATIONS
DATA MODELS
ARTIFICIAL INTELLIGENCE
4 FAMILIES OF USAGE SITUATIONS
Customization of offerings, customer satisfaction
Risks, security Artificial intelligence initial building blocks (chatbots)
Enhancement of CRM Example - appetite and attrition scorings
AI AT THE SALES AND OPERATIONAL MODELS
Systematic rollout of the 4 families of usage in the applications and processes to all of the Groups companies
Rollout of machine learning in the customer spaces and back-office tools
Example - predictive analysis of the needs of general public and corporate customers
TOOLS, TEAMS, TECHNOLOGIES
Groupe Data Lake, sharing of all retail data
Harmonization of standards and data
Example - reconciliation BP, CE and Natixis data for the same customer, pooling of external data
DIGITAL TRANSFORMATION
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 27
INDUSTRIAL, AGILE AND SECURE IT SYSTEMS At the service of transformation, time-to-market and customer satisfaction
5 SHARED DIGITAL PLATFORMS
Partners Customers Employees Data Digital marketing & contacts management
Digital platforms in the cloud
Migration of non-banking applications
Hybrid cloud solutions for business line applications
UNIFIED DIGITAL ARCHITECTURE
INDUSTRIAL APIs
DIGITAL MIDDLEWARE
INDUSTRIAL APIs
CORE BANKING IT SYSTEMS
CLOUD FIRST
SECURITY
DIGITAL TRANSFORMATION
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 28
OPTIMIZED OPERATING MODEL Pooled platforms and integrated processes
EXTENSION OF THE BUSINESS LINE PLATFORMS
Management of MORTGAGES
Assistance and customer relations in NON-LIFE INSURANCE
SECURITIES middle office
DIGITALIZATION, electronic signature, digital archiving
AUTOMATION of processes with virtual assistants, with a Group program
TRANSFORMATION of processes (chat bot, AI, blockchain, etc.)
INDUSTRIALIZING
TRANSFORMING
GLOBAL APPROACH
Front Middle Back
HR
Processes
IT
MANAGING PER SECTOR
Mortgages
Fiduciary activities
Inheritance management
Recovery of receivables
Desktop publishing and archiving
Real estate & Logistics
EXTENSION OF THE POOLED FUNCTIONS
Procurement
Training
Administrative functions
DIGITAL TRANSFORMATION
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 29
THE MEANS FOR OUR SUCCESS Redeployment of our resources, new skills
2020 TARGET
Breakdown of the IT budget: investments operations
DIGITAL
DIGITAL PLATFORMS
2.4bn for the annual
IT budget
~9% of the Groups net
banking income
5,800 IT specialists on
permanent contracts
50%-50% (40%-60% in 2016)
50% of investments
600 employees involved
DIGITAL SKILLS IT RESOURCES
1,000 employees involved
~150-200 product owners
~40-70 UX designers & digital marketing experts
~200-250 data scientists & data engineers
40 digital champions in the Groups companies
DIGITAL TRANSFORMATION
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COMMITMENT Our commitments to our CUSTOMERS, EMPLOYEES, and COOPERATIVE SHAREHOLDERS
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 31
OUR COMMITMENTS TO OUR CUSTOMERS
EXPERTISE Distinguishing ourselves through the scope of our technical expertise and the quality of our customer relations
SOLUTIONS Supporting our customers in all their projects by developing with them the solution best suited to their needs
The skills of our EMPLOYEES
Our technological, digital, and operational TRANSFORMATION
TWO MARKERS IN ALL OUR BUSINESS LINES
TWO LEVERS
RETAIL BANKING
ASSET & WEALTH MANAGEMENT
CORPORATE & INVESTMENT BANKING
1 2 3
CUSTOMERS COMMITMENT
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 32
NEW SOLUTIONS In response to customers new expectations
EXAMPLES EXAMPLES
INDIVIDUAL CUSTOMERS
Mobile banking, remote signatures, mobile payments
Leasing solutions with purchase options as an alternative to a car loan
PROFESSIONAL CUSTOMERS
Long-term vehicle leasing (MyCarLease solution )
CORPORATE CUSTOMERS
Innovative acceptance of payments solutions
INDIVIDUAL CUSTOMERS
Real-estate acquisition: support in preparing the real-estate acquisition project up until the signature of the final legal documents, and home protection solutions (comprehensive home insurance, remote surveillance, connected housing)
Inheritance management: dedicated service tailored to the beneficiaries, link with the banks involved, tax advisory services, investment solutions
Separation: financial, legal and tax advisory services
CORPORATE CUSTOMERS
Growth: arrangement, syndication, financial solutions Disposal and transmission: M&A solutions with the support of Natixis
Partners, legal, tax and wealth management advisory services, private banking services for the senior manager
RESPONDING TO NEW BEHAVIORS SUPPORTING OUR CUSTOMERS AT KEY MOMENTS IN THEIR LIVES WITH MORE SERVICES
RETAIL BANKING CUSTOMERS COMMITMENT
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 33
A PROMISE OF ACCESSIBILITY, ADVISORY SERVICES AND EXCELLENCE
CUSTOMER RELATIONS CENTERS
Up to 10:00pm, 6 days a week for certain services
Transformation
of back offices into middle offices
ADVISORS & ACCOUNT MANAGERS
Priority given to expertise
Specialized advisors by 2020
Digital tools: enhanced advisory services, customer insight, customization
+ 50%
DIGITAL CHANNELS
Autonomy for everyday transactions
Subscription for plain vanilla products
Aftersales service for simple requests
Dedicated solutions for corporate customers
SALES OUTLETS & BUSINESS CENTERS
Local presence
A SINGLE OBJECTIVE: CUSTOMER SATISFACTION
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 34
MODLE DE RELATION OMNICANAL RENOCE>
PROPOSAL OF DIFFERENT LEVELS OF SERVICE
MOBILIZATION AROUND CUSTOMER SATISFACTION
DIGITAL PLATFORM for excellence
FREEING UP TIME FOR THE SALES FORCES for greater proactivity
MORE HIGHLY QUALIFIED ADVISORY SERVICES thanks to the contribution made by data and the presence of experts throughout France
Respond to DIFFERENT WAYS OF CONSUMING BANKING SERVICES
ADAPT THE PRICING MODEL
Favor SIMPLICITY, OPENNESS and CUSTOMER RECOGNITION
NEW SOLUTIONS offered to our customers
Increased SPECIALIZATION of our advisors
Priority given to SERVICE-MINDEDNESS
2020 TARGET
LEADER IN NPS(1) IN 2 OUT OF 3 FRENCH REGIONS
(1): Net Promoter Score
RENOVATED MULTICHANNEL RELATIONSHIP MODEL
RETAIL BANKING CUSTOMERS COMMITMENT
14
941
1 505
Dec. 2016 June 2017 Sept. 2017
ASSET & WEALTH MANAGEMENT Provide our customers with innovative, tailor-made active investment solutions and strategies
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 35
> Distribution of our expertise to
regional clientele, based on
the hub in Hong Kong and the
development of partnerships
> Building on the recent
acquisition of IML in Australia
to provide products developed
by Natixis other affiliates in this
area
Alternative management:
> Draw on the wide diversity in our affiliates expertise
to design innovative and competitive products
> Improve the centralized distribution platform to
promote alternative solutions
Solutions:
> Setting up of a solutions platform, neutral in its
choice of products, combining the different
expertise of our affiliates and third-party building
blocks if necessary
> Strengthening of the Hub Portfolio Research &
Consulting Group providing tailor-made solutions
to our customers
DNCA
Seeyond
H2O
Vega
Dorval
Other
AuM, m
BETTER SERVING THE CUSTOMERS OF GROUPE BPCE
A RANGE OF EXPERTISE EXPANDED TO INCLUDE
ALTERNATIVE MANAGEMENT AND SOLUTIONS
A HEIGHTENED PRESENCE IN THE
ASIA-PACIFIC REGION
> Dedicated sales force
> Development of digital robo-advisor
tools (La program)
> Expansion of the Slectiz range of
funds
AWM CUSTOMERS COMMITMENT
CORPORATE & INVESTMENT BANKING A continuum of high-caliber expertise to differentiate ourselves and create value for our customers
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 36
INTERDISCIPLINARY EXPERTISE:
BECOMING A GO-TO-BANK
IN 4 DIFFERENT SECTORS
ENERGY AND NATURAL RESOURCES
INFRASTRUCTURE
AVIATION
REAL ESTATE AND HOSPITALITY
CORPORATES INVESTORS
INSURERS FINANCIAL SPONSORS
DEVELOP TWO CUSTOMER SEGMENTS
Enhanced proximity to our customers,
by building on our strengths:
Regional and international coverage Expertise in investment banking Multi-boutique model in M&A
HIGHLIGHTING OUR CUSTOMER PROXIMITY
Innovative solutions to meet our
customers specific needs and to
satisfy their search for returns, in all
regions worldwide
A range of expertise to meet the
specific needs of insurance
companies
An Investment banking offering
making it possible to strengthen our
relationship with Private Equity funds
and infrastructure funds
More than 20 years of expertise in structured financing
Franchises recognized worldwide and an extensive customer base
Sectors offering strong potential for additional revenues
A comprehensive offering for our customers including IB and M&A products
CIB CUSTOMERS COMMITMENT
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 37
OUR COMMITMENTS TO OUR EMPLOYEES A strong employer promise
TRAINING
our employees ROLLING OUT digital tools to support the work of our teams
MEASURING satisfaction at key moments in our employees lives
ENHANCING
career paths with professional mobility (Mobiliway)
IMPLEMENTING collaborative tools
MAKING AVAILABLE digitized HR services
DEVELOPING EMPLOYABILITY
MAKING OUR EMPLOYEES AGENTS OF CHANGE
ENRICHING AND SIMPLIFYING THE EMPLOYEE EXPERIENCE
10m hours of training for the Groups employees
+ 25% vs. 2016
50% of our employees see themselves as agents of change (40% in 2016)
100% of the Groups employees are equipped with digital tools
Co-construction Corporate HR programs Setting up of an HR LAB
>50% of our employees are active on the corporate social network
Employees NPS
PROMOTING GENDER EQUALITY
45% of managers are women
30% of senior managers are women
specialized advisors by the year 2020
+4,600
EMPLOYEES COMMITMENT
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 38
OUR COMMITMENTS TO OUR EMPLOYEES Attracting and winning the loyalty of the best talent
DEVELOPING THE GROUPS IMAGE AS AN EMPLOYER
REVISED RECRUITMENT PROCESSES
ENHANCEMENT OF PROFESSIONAL MOBILITY
Creation of a Group Employer Signature
New Group careers site
Ambassadors 2.0 program
Deployment of cooptation
Digitalisation of hiring processes
Wider introduction of a dedicated portal for all the Groups employees
Wish list system to gather employees career development preferences within the Group
70%
2020 TARGET
of our employees recommend the Group as an employer
EMPLOYEES COMMITMENT
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 39
OUR COMMITMENTS TO OUR COOPERATIVE SHAREHOLDERS A socially responsible Group, committed to society at large
REGIONAL ROOTS LOCAL PRESENCE SOCIAL SOLIDARITY
COOPERATIVE AND CSR COMMITMENTS
Strengthening of relationships with our cooperative shareholders and stakeholders Drawing up of transparent sector-specific policies and inclusion of ESG1 criteria
Professional deontology: code of ethics/code of behavior Societal responsibility of banks via the ISO 26 000 approach
COMMITMENTS TO OUR CUSTOMERS AND LOCAL COMMUNITIES
Contributions to regional ecosystems: local general interest initiatives, innovation, active sponsorship, socially responsible purchasing
Access to our services: vulnerable customers, individuals suffering from disabilities, protected persons Prevention of over-indebtedness Inclusive finance: remain a leader in microcredit solutions with support measures
(1) Environmental, Social and Corporate Governance
COOPERATIVE SHAREHOLDERS COMMITMENT
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 40
OUR COMMITMENTS TO OUR COOPERATIVE SHAREHOLDERS A socially responsible Group, committed to green growth
A BENCHMARK BANK FOR GREEN AND SOCIALLY RESPONSIBLE GROWTH
Increased financing of the energy transition
>10bn Outstandings and loan
commitments in favor of the
energy transition (+1.6bn vs. end-2016)
>35bn
Development of responsible savings with, in particular, SRI
Carbon reduction plan
Total responsible savings
deposits (+10bn vs. end-2016)
-10% Carbon audit (-3.5% per FTE
and per year over the period)
Intermediation of Green or Social financing
2 bond issues/year over the next 3 years
(3 bond issues between 2015 and 2017)
COOPERATIVE SHAREHOLDERS COMMITMENT
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 41
GROWTH Our AMBITIONS for each of our business lines
42
Serving the French civil service market
Consolidating our position as the leading bank for SMEs
Bank dedicated to entrepreneurs, companies and their senior managers
Develop the affinity-based business model
+ 200,000 PRINCIPAL CUSTOMERS USING BANKING SERVICES
INCLUDING
+ 30,000 HIGH NET-WORTH AND WEALTHY CUSTOMERS
+ 40,000 ACTIVE PROFESSIONAL CUSTOMERS
2020 TARGETS AMBITION
BANQUE POPULAIRE BANKS
GROWTH
INVESTOR DAY: 2018-2020 STRATEGIC PLAN
+ 5,500 ACTIVE CORPORATE AND INSTITUTIONAL CUSTOMERS
NOVEMBER 29, 2017
RETAIL BANKING
+ 5% vs 2017
+ 15% vs 2017
+ 9% vs 2017
+ 5% vs 2017
http://www.google.fr/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwjGjc_y-OrWAhUHQBoKHdE2BF8QjRwIBw&url=http://www.rivesparis-banquepopulaire.fr/formulaires/fonction-publique/&psig=AOvVaw1yw7oNOa1EclvHvunY6SDR&ust=1507892884360566
43
Remain the benchmark banking institution for our individual customers, with a particular focus on customers with high net-worth potential
Continue attracting new professional and corporate customers
Become the preferred bank for senior managers in the regions
Remain the front-ranking player in the institutional market
To serve all our customers by tailoring our sales organization to their different profiles
+ 430,000 PRINCIPAL CUSTOMERS USING BANKING SERVICES
INCLUDING
+ 120,000 HIGH NET-WORTH CUSTOMERS
+ 30,000 ACTIVE PROFESSIONAL CUSTOMERS
AMBITION
CAISSES D'EPARGNE
GROWTH
INVESTOR DAY: 2018-2020 STRATEGIC PLAN
+ 4,000 ACTIVE CORPORATE AND INSTITUTIONAL CUSTOMERS
2020 TARGETS
NOVEMBER 29, 2017
RETAIL BANKING
+7% vs 2017
+13% vs 2017
+15% vs 2017
+30% vs 2017
https://www.google.fr/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwi_-PuJ-erWAhXE7hoKHedSBBEQjRwIBw&url=https://www.youtube.com/watch?v=72JSwWcOk_Y&psig=AOvVaw1mPizFfsDI0a0X2Z_34mYf&ust=1507892938931184
44
CREDIT FONCIER AND BANQUE PALATINE
RETAIL BANKING
Up-market services
Dual banking relationship
Development of private banking
Forthcoming IT migration on the Banque Populaire banks platform
Bank specializing in intermediate-sized enterprises and their senior managers
Real-estate banking institution Mortgage loans, home ownership for low-income families, reverse mortgages, B2B model
Continued integration of its activities in the Group
Continued reduction in expenses
GROWTH
INVESTOR DAY: 2018-2020 STRATEGIC PLAN NOVEMBER 29, 2017
INVESTOR DAY: 2018-2020 STRATEGIC PLAN 45
FIDOR The new generation European banking community
A MODEL BASED ON THREE COMPONENTS
Social network Marketplace for financial services Aggregation, finance management AUDIENCE-BASED BUSINESS
MODEL
COMMUNITY Services aggregator
Simple, 100% digital banking offering 100% digital operational mode Marketing jointly developed with
customers
BANKING BUSINESS MODEL
BANK Neobank based on the community
PAN-EUROPEAN ROLLOUT
Ambition: a European community
> 500,000 users in 2017
Launch in 2018
Already up and running
ROLLOUT DEPENDING ON THE NATIONAL CONTEXT
Priority countries
Banking as a service solutions for European banks and brands
Emerging markets (digital solutions for inclusive finance)
CREATOR OF SOLUTIONS White label banking technologies
INTERNATIONAL ROLLOUT
GROWTH
The entire digital bank in b2b (technologies, services, offerings)
LICENSE-BASED BUSINESS MODEL
NOVEMBER 29, 2017
RETAIL BANKING
https://www.google.fr/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwi31dnZwo7WAhWGVxoKHcGICqQQjRwIBw&url=https://www.fidor.de/&psig=AFQjCNELWSHgLufSB_2BmKKCJ2Nf5lEjyg&ust=1504717245147404https://www.google.fr/url?sa=i&rct=j&q=&esrc=s&source=imgres&cd=&cad=rja&uact=8&ved=&url=https://fr.wikipedia.org/wiki/Drapeau_du_Royaume-Uni&psig=AFQjCNE25U0e6HsGJn57Z_bHe0B3haEhsA&ust=1506706191635953http://www.google.fr/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwixw_rjtaTWAhWEPhQKHYrMBb8QjRwIBw&url=http://www.easyvoyage.com/actualite/voyage-en-europe-l-explication-des-drapeaux-europeens-69968&psig=AFQjCNFdMyLYASjZ0a3fPIOST0Ck7_dDXw&ust=1505469691815061http://www.google.fr/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwixw_rjtaTWAhWEPhQKHYrMBb8QjRwIBw&url=http://www.easyvoyage.com/actualite/voyage-en-europe-l-explication-des-drapeaux-europeens-69968&psig=AFQjCNFdMyLYASjZ0a3fPIOST0Ck7_dDXw&ust=1505469691815061http://www.google.fr/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwixw_rjtaTWAhWEPhQKHYrMBb8QjRwIBw&url=http://www.easyvoyage.com/actualite/voyage-en-europe-l-explication-des-drapeaux-europeens-69968&psig=AFQjCNFdMyLYASjZ0a3fPIOST0Ck7_dDXw&ust=1505469691815061http://www.google.fr/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwixw_rjtaTWAhWEPhQKHYrMBb8QjRwIBw&url=http://www.easyvoyage.com/actualite/voyage-en-europe-l-explication-des-drapeaux-europeens-69968&psig=AFQjCNFdMyLYASjZ0a3fPIOST0Ck7_dDXw&ust=1505469691815061https://www.google.fr/url?sa=i&rct=j&q=&esrc=s&source=imgres&cd=&cad=rja&uact=8&ved=&url=https://fr.wikipedia.org/wiki/Drapeau_du_Royaume-Uni&psig=AFQjCNE25U0e6HsGJn57Z_bHe0B3haEhsA&ust=1506706191635953https://www.google.fr/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwik5a2rxI7WAhUItRoKHSlQDaIQjRwIBw&url=https://www.fidorbank.uk/about-fidor/group&psig=AFQjCNEIS6__hVQ4yKu63t00F16o-CMIDA&ust=1504717682292255
46
Adopt a pure-player strategy in Payments
Accelerate our industrial transformation to become full digital
Generate additional revenue synergies with Groupe BPCE networks and explore new growth drivers
Seize opportunities to grow market shares in all SFS businesses
~ 6% NET REVENUES CAGR
~ 67% COST/INCOME RATIO
AMBITION
SPECIALIZED FINANCIAL SERVICES
GROWTH
INVESTOR DAY: 2018-2020 STRATEGIC PLAN
X 1.5 PAYMENTS REVENUES
2020 TARGETS
NOVEMBER 29, 2017
RETAIL BANKING
47
Consolidate our position as a major French insurer at the forefront of operational performance, and offering best-in-class customer experience
~ 7% NET REVENUE CAGR
~ 90bn LIFE INSURANCE AUM1
AMBITION
INSURANCE
GROWTH
+1 million NON-LIFE CONTRACTS HELD IN PORTFOLIO
48
Extend our global Distribution reach notably in European countries outside of France
Leverage revenue synergies with the Groupe BPCE networks
Expand in Alternatives and Solutions
Increase our Pan-Asian footprint
Pursue an active M&A strategy
Roll out our new brand architecture
Natixis Wealth Management: new brand to reflect a refocus on HNWI, UHNWI, Family Offices and Foundations and better leverage the Asset Management product offering
~6% NET REVENUES CAGR
>15bn NET INFLOWS GENERATED WITH THE RETAIL BANKING NETWORKS OF GROUPE BPCE
>100bn AGGREGATE NET INFLOWS
Reassert our position as the worlds premier active asset manager by our size, profitability and innovative ability
1tn AuM
AMBITION
INVESTOR DAY: 2018-2020 STRATEGIC PLAN
ASSET & WEALTH MANAGEMENT
GROWTH
NOVEMBER 29, 2017
AWM
2020 TARGETS
49
Strengthen the O2D-model
Push further the Solutions business
Increase our footprint in the insurers and financial sponsors segments
Become a reference player in the green business
Foster international growth
Be recognized as a solution-oriented innovative house and become the go-to bank in 4 key sectors
~ 3% NET REVENUES CAGR
AMBITION
INVESTOR DAY: 2018-2020 STRATEGIC PLAN
CORPORATE & INVESTMENT BANKING
GROWTH
> 40% OF TOTAL REVENUES COMING
FROM THE AMERICAS AND APAC
NOVEMBER 29, 2017
4 KEY SECTORS, INSURANCE
COMPANIES AND INVESTMENT FUNDS
> 70% IB & M&A ADDITIONAL REVENUES
CIB
2020 TARGETS
INVESTOR DAY: 2018-2020 STRATEGIC PLAN 50
REVENUE SYNERGIES Increase the pace by capitalizing on the successes of the previous plans
NASCR III program (NATIXIS AT THE SERVICE OF THE NETWORK CUSTOMERS)
~800m1 750m of synergies generated in the space of 4 years
of new synergies in 3 years
(1) Estimated in June 2017 at a total of 803m at December 31, 2017. Final figure available in early 2018.
ASSET MANAGEMENT AND INSURANCE
Priority given to financial savings Development of the
bancassurance business model
SPECIALIZED FINANCIAL SERVICES
Broaden the scope of the Group entities using SFS
New offerings (restructuring of loans, revolving credit facilities for
professionals, LLD and LOA for
individual customers)
End 2013
End 2017
End 2020
GROWTH
NOVEMBER 29, 2017
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 51
FINANCIAL TRAJECTORY
2020 FINANCIAL TARGETS
(1) Excluding senior preferred debt
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 52
Low interest-rate environment during the life of the plan
Regulatory pressure on commissions
Sustained investments in digital solutions 2018-2020
ASSUMPTIONS & STRATEGIES
2020 FINANCIAL TARGETS
NET BANKING INCOME
>25bn
COST TO INCOME RATIO
Retail Banking 64% Asset & Wealth Manag. 68% Corp. & Invest. Banking 60%
COST OF RISK
20 to 30bps
CET 1 RATIO
15.5% TLAC
>21.5%1 As of January 1, 2019 (regulatory target: 2022)
Risk appetite remaining moderate
COST SYNERGIES:
1bn on a full year basis in 2020 (disclosed in February 2017)
ECONOMIC ENVIRONMENT Prudent assumptions
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 53
Assumptions substantially below the IMF forecasts published in October 2017
World economic growth continues to grow at different speeds depending on the geographical region
Monetary policy of the FED returns to normal and initial steps towards a reduction in the ECBs QE
Rise in the level of inflation following the rise in commodity prices
GROWTH IN GDP (AS A %)
INTEREST RATES
A scenario with levels close to current market forecasts
A euro/dollar exchange rate of 1.20 over the life of the plan
UNDERLYING ASSUMPTIONS
3-month Euribor
Livret A rate
10-year OAT
1.3 1.4
1.5 1.5 1.7
1.5
1.4 1.4
2.1
2.4
2.2
2
2017 (p) 2018 (p) 2019 (p) 2020 (p)
USA
Euro zone France
-0.30% -0.11%
0.12%
0.39%
1.02% 1.26%
1.53%
1.78%
0.75%
1.00%
Dec.-17 Dec.-18 Dec.-19 Dec.-20
CHANGE IN RWAs
(1) Estimated RWAs under Basel III, end of period. (2) Excluding Natixis business divisions, including Coface, Corporate Center BPCE SA, consolidation effects
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 54
RWAs PER
BUSINESS LINE
IN 20201
79%
16%
3% 2%
No change in the allocation of risk-weighted assets during the life of the plan
Support given to business growth in a low interest-rate environment
RWAs PER
BUSINESS LINE IN
20171
78%
16%
3% 3%
Annual growth in RWAs during 2017-20 3%
Retail Banking CIB Asset & W. man. Other2
BREAKDOWN OF 2020 REVENUES
REVENUE TRAJECTORY A low interest-rate environment having a negative impact on Retail Banking
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 55
2017-2020 GROWTH TARGETS SET FOR THE BUSINESS LINES
Impact of low interest rates
Stability in net interest income in 2018 Growth as of mid-2019
CAGR 2017-2020
CIB
3%
Retail Banking
2%
Asset & Wealth Man.
6%
An environment remaining unfavorable to the revenues of the retail banking networks
Annual growth in commissions of 3% (excluding early redemption fees)
Increase in commissions generated on insurance despite the dissociation of residential mortgages from payment protection insurance
Increase in commissions generated on account management services in pace with the rise in the number of customers using banking products
Increase in the number of payments transactions
70% Retail Banking
16% CIB
14% Asset & Wealth Man.
GOOD EXECUTION OF THE TOE PLAN 330m in cost synergies generated by end-September 2017
(1) Excluding automation program (except within the Natixis TOE plan), excluding international retail banking, excluding Fidor. Including transformation costs prior to 2017 generating cost savings as of 2017
(2) Disclosed on November 9, 2016
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 56
GROUP PLAN1
Excluding Natixis
750m
~36% RATIONALIZATION OF STRUCTURES and IT mergers, IT, other
~32%
250m
NATIXIS TRANSFORMATION AND OPERATIONAL EXCELLENCE PLAN2
790m
NON-RECURRING TRANSFORMATION COSTS
Of which Natixis (220m)
IT migrations,
modernization of IS
% ACHIEVED AT YEAR END (1bn) Followed per program and per entity
REAL ESTATE and PROCUREMENT
TRANSFORMATION OF THE RELATIONSHIP MODEL in the Retail Banking division
~32% 2017-2020 aggregate
40%
70%
100%
END-2017
END-2018
END-2019
SOLVENCY TRAJECTORY Solvency maintained at a high level
(1) Full CRR/CRD IV CET1 ratio; trajectory takes account of the impact of IFRS 9
57
TLAC
>21.5%
Regulatory target fixed for 2022 achieved as of 2019
Plans to issue 4 to 5bn/year of senior non-preferred debt
COMMON EQUITY TIER 1 RATIO1
2018-2020 target
15.5%
Sept. 30, 2017 Retained earnings
Issue of cooperative shares (net)
Business development
230 bps > 40 bps
15%
2020 target
15.5%
- 180 bps
Target for the ORGANIC INCREASE IN THE CET1 RATIO (excluding cooperative shares issues)
50bps with conservative assumptions regarding increase in RWAs
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN
NOVEMBER 29, 2017 INVESTOR DAY: 2018-2020 STRATEGIC PLAN 58
QUESTIONS & ANSWERS