BPCE: net income tops E4bn in 2021

(CercleFinance.com) - The bank BPCE has reported 10.
5% growth in net banking income to 6,967 million euros in Q4 2021, with 14.1% growth to 25,716 million euros for FY 2021.

It recorded a strong rebound in commercial activity in all business lines compared to 2020 (which is indeed a low comparison basis) - but also compared to 2019. Net banking income increased 5.8% in 2021 compared to pre-crisis 2019.

Reported net income, group share, amounted to 819 million euros in Q4 2021 compared to 624 million euros in Q4 2020 (+31.4%). In 2021, it reached 4,003 million euros, up significantly (x2.5) year-on-year compared to 1,610 million euros in 2020.

Underlying net income, group share, reached 1,080 million euros in Q4 2021 (+42.7%) and 4,457 million euros in 2021 (x2.1).

Groupe BPCE's CET1 ratio at the end of December 2021 is estimated at 15.8%, compared with 16.0% at the end of 2020.

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