NATIXIS :FIRST-QUARTER 2014 RESULTS

 | Source: NATIXIS NATIXIS

Paris, May 6, 2014

First-quarter 2014: results reflecting an active implementation of the new strategic plan and a good momentum from core businesses fuelled by Investment Solutions

Net revenues(1) from core businesses up 7% vs. 1Q13    

  

  • Wholesale Banking: €9bn of Financing production and new dynamic in Equity derivatives business
  • Asset Management: €9bn net inflow and €653bn of AuM at end-March 2014
  • Insurance: all business lines recorded a significant growth of business vs. 1Q13
  • Specialized Financial Services: 2% increase in Specialized financing and Financial services net revenues vs. 1Q13

Net income up 8% excluding gapc vs. 1Q13(1)

  • Net revenues grew 3% to €1.857bn vs. 1Q13
  • Gross operating income up 6% and pre-tax profit up 12% vs. 1Q13
  • Significant decrease in 1Q14 cost of risk to 40bp vs. 56bp in 1Q13
  • €304m net income excluding GAPC, up 8% vs. 1Q13
  • Core business ROE(1) of 11.8% in 1Q14, up 200bp vs. 1Q13

Reinforcement of financial structure

  • Basel 3 CET1 ratio(2) of 10.6% as at March 31, 2014, up 40bp vs. year-end 2013, pro forma of the BPCE Assurances acquisition

Implementation of the New Frontier strategic plan

  • Creation of the Insurance platform, notably via the acquisition of 60% of BPCE Assurances realized on March 13, 2014
  • GAPC closing process begun
  • Coface: Analyst Day on May 7, 2014 in preparation for the IPO
  1. +€72m of non-recurring items in Wholesale Banking revenues (mainly transition to IFRS 13 rules) - Pro forma of the sale of the CCIs
  2. Based on CRR-CRD4 rules published on June 26, 2013, including the Danish compromise - no phase-in except for DTAs on loss carry forwards

 

 

Attachments

First-Quarter 2014 Results
GlobeNewswire