Paris, May 6, 2013
First-Quarter 2013 Results
Dynamic commercial activity, improved earnings capacity and further reinforcement of financial structure
First-Quarter 2013 Results
Pro forma(1) and excluding FV adjustment on own debt
- Net revenues of €1.8bn, up 3% vs 1Q12 and 4% vs 4Q12
- Improvement in gross operating income, up 3% vs 1Q12 and 26% vs 4Q12
- Acceleration of GAPC disposals in 2013, with €2.4bn(2) concluded on May 2, 2013
- Target for closing GAPC in mid-2014
- Net income of €337m, up 22% vs 1Q12
Core Businesses: net revenues increased 4% vs. 1Q12 in a difficult economic context in Europe
- Dynamic new loan production in the Wholesale Banking financing activities, notably outside Europe
- Positive net inflows in Life insurance and in Asset management were activity was particularly buoyant in the US
- Further rollout of Specialized financing activities in the Groupe BPCE retail networks
Continued reinforcement of financial Structure
- Basel 3 Core Tier 1 ratio(1,3) of 9.4% as at March 31, 2013
Operational Efficiency Program in line with target
- Natixis expenses under control: up only 1% vs. 1Q12 (on a constant perimeter and currency basis, excluding tax increase)
- Operational Efficiency Program: €128m cumulative reduction in expenses at end-March 2013, of which €31m in 1Q13
(1) Pro forma of the Project for the sale of CCIs (2) Management data - Nominal value (3) Basel 3 impact will depend on final rules - Fully-loaded except on DTAs
