BPCE: Q1 net income reaches E548m

(CercleFinance.com) - The banking group recorded 10.
4% growth in its net banking income to 6.1 billion euros in Q1 2021, which reflects the dynamic nature of all businesses and a generally better market context compared to the Q1 2020, it said.

In the Retail Banking and Insurance division, performance was solid in the Banque Populaire and Caisse d'Epargne networks, as well as the Insurance and Payments businesses and all businesses in the Financial Solutions and Expertise division, BPCE added.

Reported net income, group share, excluding the net contribution of Coface and H2O AM in Q1 2021 amounted to 548 million euros (compared to 181 million euros in Q1 2020). Underlying net income, group share, after restating for the impact of IFRIC 21 and excluding Coface's net contribution, amounted to 1,009 million euros, up 51.5%.


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