BPCE: reported net income of 1,681 ME in the 1st half (+12%)

(CercleFinance.com) - Groupe BPCE's net banking income, at 5,626 million euros is up 3%, in Q2 2024 compared with Q2 2023, and up 1% to 11,379 in H1 2024 compared with H1 2023, thanks to dynamic commercial activity across all business lines.


Revenues from the Retail Banking and Insurance division (BPA) reached 3,701 million euros, up 2% year-on-year in Q2 2024, and 7,464 million euros, down 1% year-on-year in H1 2024. Banques Populaires and Caisses d'Epargne have posted a strong sales performance, with 452,000 new customers in all markets since the beginning of the year," says the Group.

Net interest margin reached 3.5 billion euros in the first half of 2024, down a limited 6% year-on-year. Fees and commissions, at 5.3 billion euros in the first half of 2024, were up 7% year-on-year.

Gross operating income came to 1,618 million euros in Q2 2024, down 3% year-on-year, and 3,220 million euros in H1 2024, up 11% year-on-year.

Reported net income, Group share came to 1,681 million euros in H1 2024, up 12% year-on-year. It fell by 17% year-on-year in Q2 2024 to 806 million euros. It was down 22% year-on-year excluding RIF in Q1 2024, and 29% year-on-year in Q4 2023.

Underlying net income, group share, came to 837 million euros in Q2 2024, down 9% year-on-year, and 1,741 million euros in H1 2024, up 17% year-on-year.

Groupe BPCE's CET1 ratio at the end of June 2024 reached an estimated level of 15.6%, stable over the quarter.

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