Paris, March 7th, 2022
Groupe BPCE has little exposure1 to Russia and Ukraine
Groupe BPCE is following developments in the situation in Russia and Ukraine very closely, even though its exposure1 to these two countries is very limited.
The Group strictly complies with the regulations in force and diligently implements the necessary measures to strictly apply, as soon as they are published, international sanctions.
The Group's net banking exposures12 amount to:
| Million euros | Net exposure of Groupe BPCE on and off balance sheet12 as of February 28th, 2022 | |
| Type of exposure | Russia | Ukraine |
| Sovereign | 0 | 0 |
| Financial institutions | 172 | 0 |
| Corporate / structured finance | 615 | 63 |
| Total | 788 | 63 |
Net banking exposures12 to Russia correspond mainly to financing activities (733 million euros, or 93% of the total).
These exposures are very limited given the 889 billion euros in gross outstanding loans and receivables at amortized cost of Groupe BPCE as of December 31st, 2021 (customers and banks).
¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤
In addition, in the Asset Management business on behalf of the Group's clients, the exposure to Russia of the various funds managed by Natixis Investment Managers' management companies, corresponding mainly to investments in Russian Government bonds, is 302 million euros as of February 28th, 2022, and 97 million euros to Ukraine.
These exposures, compared with assets under management amounting to 1,259 billion euros as of December 31, 2021, are very insignificant.
About Groupe BPCE
Groupe BPCE, with its business model as a universal cooperative bank represented by 9 million cooperative shareholders, is currently the 2nd-largest banking group in France. With its 100,000 employees, it serves a total of 36 million customers – individuals, professionals, corporates, investors, and local government bodies – around the world. It operates in the retail banking and insurance sectors in France via its two major Banque Populaire and Caisse d’Epargne banking networks, along with Banque Palatine. With Natixis, it also runs global business lines specializing in Asset & Wealth management, Corporate & Investment Banking, Insurance and Payments. Through this structure, it is able to offer its customers a comprehensive, diversified range of products and services: solutions in savings, investment, cash management, financing, and insurance. The Group's financial strength is recognized by four financial rating agencies: Moody's (A1, stable outlook), Standard & Poor's (A, stable outlook), Fitch (A+, negative outlook) and R&I (A+, stable outlook).
| Groupe BPCE press contact Christophe Gilbert: + 33 1 40 39 66 00 Email: christophe.gilbert@bpce.fr | Groupe BPCE investor relations Roland Charbonnel: + 33 1 58 40 69 30 François Courtois: + 33 1 58 40 46 69 Email: bpce-ir@bpce.fr |
1 Direct on-balance sheet and off-balance sheet exposures net of guarantees on Russian or Ukrainian clients
2 Management data
Attachment
