Paris, August 6, 2013
Second-quarter and first-half 2013 results
Solid results in difficult conditions in Europe, thanks to the commercial dynamism of core businesses, tight cost control and stabilized cost of risk
Sale of CCIs to the Banques Populaires and Caisses d'Epargne in line with the schedule presented on February 17, 2013
- Sale of all the CCIs to the Banques Populaires and Caisses d'Epargne banks completed on August 6, 2013
- The AGM approved an exceptional distribution of €0.65 per share payable on August 19, 2013
Net income (group share) rose by 4% in 2Q12, to €267m, and by 13% in 1H13, to €604m
Pro forma(1) and excluding FV adjustment on own debt
- Net revenues of €1.8bn in 2Q13, up 2% vs. 2Q12
- 1H13 net revenues of €3.6bn, up 3% vs. 1H12
- 9.3% ROTE(2) for first-half 2013
Good performances in core businesses
- Wholesale Banking: robust new production of €8.1bn in Structured financing in 1H13
- Investment Solutions: €6.8bn net inflow in 1H13, notably in the US and Asia, and 12% increase in net revenues in 2Q13 in Asset management
- Specialized financing revenues up 6% in 2Q13 vs. 2Q12, fueled by increased business with the Groupe BPCE networks
Satisfactory roll-out of the Operational Efficiency Program
- €159m cumulative reduction in expenses at June 30, 2013
Acceleration of GAPC asset disposal program
- Divestment of GAPC assets: €2.6bn in 2Q13, making a total of €3.6bn for first-half 2013
- On track to close GAPC by mid-2014
Further improvement in financial structure
- Basel 3 CET1 Ratio(1,3) of 9.7% at June 30, 2013, up 30bps vs. March 31, 2013
2014-2017 strategic plan: investor day on November 14, 2013
(1) Pro forma of the sale of CCIs / (2) Annualized ROTE: net income (group share) - DSN net interest / average net assets after dividend - hybrid notes - intangible - average goodwill (3) Basel 3 impact will depend on final rules - Fully-loaded except on DTAs
