Paris, November 6, 2013
Third-Quarter 2013 and Nine-Month 2013 results
Good results reflecting the commercial dynamism of our three core businesses
Sound foundations for the 2014-2017 new strategic plan
Higher revenues in core businesses
- Net revenues from core businesses rose 10% to €1.597bn in 3Q13 and 6% to €4.782bn in 9M13
- Wholesale Banking: €6.4bn of new financing production in 3Q13, plus growth in capital markets, particularly in Asia and the USA
- Investment Solutions: net revenues up 15% in 3Q13 vs 3Q12, fuelled by Insurance and Asset Management, which posted a record €11.2bn net inflow, mainly from the US
- Specialized Financial Services: further growth in Specialized Financing business with the Groupe BPCE networks (+15% vs 3Q12)
Results improved(1) in both 3Q13 and 9M13
- Net revenues: €1.771bn in 3Q13, up 7% vs 3Q12, and €5.391bn in 9M13, up 4% vs 9M12
- Pre-tax profit of €1.362bn in 9M13, up 6% vs. 9M12
- Net income (group share) excluding GAPC: €278m, up 10% vs 3Q12, and €883m in 9M13, up 3% vs 9M12
Operational Efficiency Programme ahead of target
- Cumulative cost reductions of €198m as at September 30, 2013, including €39m in 3Q13
- Expenses were tightly controlled and eased 1% in 3Q13 vs 2Q13
Solid fundamentals to embark on the 2014-2017 strategic plan
- Strong core business franchises, refocused on key clients
- Mounting synergies with the BP and CE networks underscore Natixis's anchorage within Groupe BPCE
- Further decline in GAPC assets following €4.7bn of asset sales in 9M13, including €1.1bn in 3Q13
- Continued improvement in financial solidity: CET1(2) ratio of 9.9% under Basel 3
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(1) Pro forma of the sale of CCIs and excluding FVA on own debt
(2) Basel 3 impact will depend on final rules - Fully-loaded except on DTAs
