BPCE: reports net income of E2.6bn over 9m (+8%)
(CercleFinance.com) - Groupe BPCE's net banking income was up 8% to E5,892m in Q3 2024, thanks to dynamic commercial activity across all business lines.
At end-September 2024, it stood at E17,271m, up 3%.
Revenues from the Retail Banking and Insurance division (BPA) reached E3,869m, up 4% in Q3 2024, and E11,333m, up 1% in the first 9 months of 2024.
Net interest margin came to E5.5bn and commissions to E8.1bn in the first 9 months of 2024.
Reported net income, group share came to E925m in Q3 2024, up 1%. It stood at E2,607m for the first 9 months of 2024, up 8%. Underlying Group net income was stable at E957m in Q3 2024, up 10% to E2,698m in 9 months 2024.
Groupe BPCE's CET1 ratio at end-September 2024 reached an estimated 16.2%, up on the quarter. Pro-forma of the integration of the impacts to be varnished from the acquisitions of SGEF and Nagelmackers (-55 bp), the Group's CET1 ratio stands at 15.7%, up 10 bp on 30 June 2024.
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