Second-quarter 2011 results

Paris, France, August 4, 2011

Good performances, with net income (Group share) of €505m

 

In a challenging environment, these performances demonstrate the strength of a customer-centric business model with a low risk profile

Sustained business momentum: growth of 4%1 vs Q2-10 in Net Revenues2 excluding non-operating items to €1,783m

Provision for credit loss under control, including the provisioning of the insurance subsidiaries’ exposure to Greek sovereign debt in the amount of €15m in accordance with the EU support plan

Strong growth in the income from equity associates in retail banking: €170m, +14% vs Q1-11

Pre-tax profit2 excluding non-operating items: €691m, +7%1 vs Q2-10

Growth in net income (Group share) excluding non-operating items: €515m in Q2-11 (+4%1 vs Q2-10)

Annualized ROE after tax above 10%3 in Q2-11, as well as in H1-11

 

Further increase in the Core Tier 1 ratio

Core Tier 1 ratio: 8.6% (+50 basis points vs March 31, 2011 and +220bp vs June 30, 2010)4

Tier 1 ratio: 11.6% (+60 basis points vs March 31, 2011)

RWAs excluding CCIs: -2% (vs March 31, 2011)

Laurent Mignon, Chief Executive Officer of Natixis said: “The second-quarter 2011 results reflect the strength of Natixis’ customer-centric business model in an environment characterized by great uncertainty. These good performances were driven by the improved market positions of the core businesses, the continued reduction in the risk profile and an increase in the contribution of the BPCE retail banking networks. Natixis’ financial structure continues to strengthen in anticipation of regulatory change, thanks largely to strict control of risk-weighted assets. In two years, Natixis has significantly reined in its risk profile and demonstrated its ability to generate quality recurring results.”

Natixis’ consolidated results were approved by the Board of Directors on August 4, 2011.

  1. Pro forma mainly the consolidation of GCE Paiements, Cicobail and Oceor Lease
  1. Excluding GAPC and income from discontinued operations
  1. Excluding non-operating items (details in the appendices)
  1. For periods before December 31, 2010, pro forma the prudential treatment of the CCIs as RWAs (370% of equity method value)
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