Quarterly Financial Information

Q3 17: SOLID RESULTS IN RETAIL, DECLINE IN MARKETS ACTIVITIES

• Net banking income for the core businesses of EUR 5.9bn (-5.9% vs. Q3 16): substantial growth in International Retail Banking & Financial Services (+5.2%*), revenue decline in Global Banking & Investor Solutions, in a historically low volatility environment (-14.7% vs. Q3 16), and in French Retail Banking (-6.6%(1) vs. Q3 16) against a backdrop of low interest rates.
• Group book net banking income was slightly lower (-0.9%) at EUR 5,958m (EUR 6,010m in Q3 16).
• Stable operating expenses: -0.4% vs. Q3 16.
• Commercial cost of risk(2) halved, at 17bp in Q3 17 (34bp in Q3 16) reflecting the improvement in the Group’s risk profile observed for several quarters. Additional allocation to the provision for disputes of EUR 300m.
• Book Group net income of EUR 932m in Q3 17 (EUR 1,099m in Q3 16).
• Group net income excluding non-economic items of EUR 894m in Q3 17 (EUR 1,257m in Q3 16).
• Fully-loaded CET 1 ratio of 11.7% (stable vs. June 30th, 2017).

9M 17: INCREASE IN UNDERLYING GROUP NET INCOME

• Underlying net banking income(3) of EUR 18.8bn (+0.4% vs. 9M 16)
• Underlying operating expenses(3) under control: +1.2% vs. 9M 16
• Underlying Group net income(3) of EUR 3,616m, up +16.9% vs. 9M 16
• Underlying ROE(3) of 9.0% (8.0% in 9M 16)

EPS**: EUR 3.12 in 9M 17 (EUR 4.19 in 9M 16). Provision for dividend of EUR 1.65/share

Presentation of the strategic plan on November 28th, 2017
 

The footnotes * and ** in this document are specified below:
*     When adjusted for changes in Group structure and at constant exchange rates.
** Excluding non-economic items.

(1)  Including adjustment of hedging costs and excluding PEL/CEL provision.
(2) Excluding disputes, in basis points for outstandings at the beginning of the period, including operating leases. Annualised   calculation.
(3)  See methodology note 5 for the transition from accounting data to underlying data.