(News Bulletin 247) – Groupe BPCE recorded a limited drop of 5% in its net banking income to 5,815 million euros in the 1st quarter of 2023, due to the drop in NBI of the Retail Banking and Insurance (BPA) division 7% while the NBI of the Global Financial Services (GFS) division increased by 2%.
Revenues from the BPA division reached 3,891 million euros (-7%) and GFS’s NBI came to 1,822 million euros, up 2% in the 1st quarter of 2023. ‘ This increase is mainly due to that of NBI in Wholesale Banking (+7%) driven by an effective strategy of diversification’ indicates the group.
Reported net income group share came to 533 million euros in the 1st quarter of 2023, down 29% (755 million euros in Q1-22pf). Underlying net income group share amounted to 570 million euros (-26%).
The CET1 ratio of Groupe BPCE at the end of March 2023 reached an estimated level of 15.0%, -10 bps compared to the end of December 2022.
Nicolas Namias, Chairman of the Management Board of BPCE, declared: ‘In a context of economic slowdown and still high inflation, Groupe BPCE, thanks to the very strong commitment of all of its teams, continued its commercial development. The Banques Populaires, Caisses d’Epargne and all retail banking businesses, by supporting regional financing, have developed their customer base in all segments’.
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