Solid third-quarter and nine-month 2011 results

Paris, France, November 9, 2011

Q3-11: strong resilience in a very challenging environment, low exposure to GIIPS sovereign debt

  • Net income (Group share): €344m, up 13% vs Q3-10
  • Net revenues:1 €1,586m, up 11% vs Q3-10
  • Impact of the impairment of Greek sovereign debt: €40m before tax

9M-11: solid performances, with net income (Group share) of €1,260m, down 2% vs 9M-10

  • Net revenues:1 €4,989m, up 4% vs 9M-10
  • Pre-tax profit of the core businesses2 and the networks: €1,680m, up 1% vs 9M-103
  • Contribution of the commercial banking networks: €435m, up 35% vs 9M-10

 

Significant reinforcement of the financial structure

Basel 2.5 Core Tier 1 ratio above 10% as of September 30, 20114

  • Improvement of the Core Tier 1 ratio at end of 3Q11: 20bp quarter-on-quarter and 140bp year-on-year
  • P3CI transaction: 200bp increase in the Core Tier 1 ratio without a dilutive impact on EPS

 

Anticipation of a Basel III Core Tier 1 ratio above 9% as of Jan. 1, 2013

  • Anticipation of a Basel III Core Tier 1 ratio above 9% as of January 1, 2013, fully loaded excepting DTAs5

 

Strategy: confirmation of the New Deal strategic direction, suited to the new challenges facing the banking sector

  • Additional €10bn reduction in risk-weighted assets by 2013, on top of the €62bn reduction achieved since the start of 2009
  • Reduction in overall market refinancing needs: €15bn-20bn

 

 

Natixis’ consolidated results were examined by the Board of Directors on November 9, 2011.

1 Excluding GAPC, income from discontinued operations and not pro forma. 2 Corporate and Investment Banking, Investment Solutions, Specialized Financial Services. 3 Pro forma mainly the consolidation of GCE Paiements, Cicobail and Oceor Lease. 4 Pro forma the implementation of the P3CI optimization transaction. 5 Without any deleveraging or mitigation effects.

 

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