La Banque Postale Group · 2020-05-18 · LA BANQUE POSTALE A solid and stable shareholding...

La Banque Postale Group

November 2016

CREDIT UPDATE

LA BANQUE POSTALE

Disclaimer

2 November 2016 CREDIT UPDATE

This document has been prepared by La Banque Postale and La Banque Postale Home Loan SFH solely for use in investor meetings. This document is confidential and is not to be reproduced by any person, nor be

distributed to any person other than its original recipient. La Banque Postale and La Banque Postale Home Loan SFH take no responsibility for the use of these materials by any person.

This presentation does not constitute a prospectus or other offering document in whole or in part. Recipients should not subscribe for any securities issued pursuant to the Offering except on the basis of information in the

prospectus in final form (including the documents incorporated by reference therein) to be issued by the Company in connection with the Offering.

Information contained in this presentation is a summary only, and is qualified in its entirety by reference to the prospectus. The prospectus will include a description of risk factors relevant to an investment in the securities to

be issued by the Company and any recipients should review in particular the risk factors before making a decision to invest.

This presentation does not constitute or form part of any offer or invitation to sell or issue or any solicitation of any offer to buy or subscribe for any security nor shall it (or any part of it) form the basis of (or be relied on in

connection with) any contract or investment decision in relation thereto. Recipients should conduct their own investigation, evaluation and analysis of the information set out in this document and should rely solely on their own

judgment, investigation, evaluation and analysis in evaluating the Company, its business and affairs.

No representation or warranty, express or implied, is given by or on behalf of the Company, the Joint Lead Managers, or any of their respective directors, officers, employees, advisers, agents, affiliates or any other person as

to (a) the accuracy, fairness or completeness of the information or (b) the opinions contained in this document, and, save in the case of fraud, no liability whatsoever is accepted for any such information or opinions.

The information and opinions contained in this presentation are provided as at the date of this document and are subject to change without notice although neither the Company nor any other person assumes any

responsibility or obligation to provide the recipients with access to any additional information or update or revise any such statements, regardless of whether those statements are affected by the results of new information,

future events or otherwise. All liability (including, without limitation, liability for indirect, economic or consequential loss) is hereby excluded to the fullest extent permissible by law.

Certain statements included in this presentation are “forward-looking”. Such forward-looking statements speak only at the date of this document, involve substantial uncertainties and actual results and developments may

differ materially from future results expressed or implied by such forward-looking statements. Neither the Company nor any other person undertakes any obligation to update or revise any forward-looking statements.

All written, oral and electronic forward-looking statements attributable to the Company, or the Joint Lead Managers, or persons acting on their behalf are expressly qualified in their entirety by this cautionary statement.

This document and the investment activity to which it relates may only be communicated to, and are only directed at (i) persons in the United Kingdom having professional experience in matters relating to investments, being

investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the FPO); (ii) qualified investors (investisseurs qualifiés) as defined

in Articles L411-2 of the French Monetary and Financial Code and (iii) persons to whom the communication may otherwise lawfully be made (together Relevant Persons). Any investment or investment activity to which this

document relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. This document must not be acted or relied on by any persons who are not Relevant Persons.

NOT FOR PUBLICATION OR DISTRIBUTION IN THE UNITED STATES - Nothing in this presentation shall constitute an offer of securities for sale in the United States. The securities referred to in this presentation (if any)

have not been registered under the U.S. Securities Act of 1933, as amended (the Securities Act) or under the securities laws of any state of the United States , and may not be offered or sold in the United States absent

registration or an exemption from registration under the Securities Act and applicable state securities laws.

This document may contain a number of forecasts and comments relating to the targets and strategies of the La Banque Postale Group. These forecasts are based on a series of assumptions, both general and specific,

notably – unless specified otherwise - the application of accounting principles and methods in accordance with IFRS (International Financial Reporting Standards) as adopted in the European Union, as well as the application of

existing prudential regulations. This information was developed from scenarios based on a number of economic assumptions for a given competitive and regulatory environment.

The Group may be unable:

- to anticipate all the risks, uncertainties or other factors likely to affect its business and to appraise their potential consequences;

- to evaluate precisely the extent to which the occurrence of a risk or a combination of risks could cause actual results to differ materially from those provided in this presentation.

There is a risk that these projections will not be met. Investors are advised to take into account factors of uncertainty and risk likely to impact the operations of the Group when basing their investment decisions on information

provided in this document. Unless otherwise specified, the sources for the rankings are internal.

LA BANQUE POSTALE

Table of contents


Overview

Business model and results

Funding and Liquidity

Capital

Wrap-up

LA BANQUE POSTALE

A solid and stable shareholding structure and a core subsidiary for Le Groupe La Poste


LBP is wholly-owned by La Poste, the French Postal Service

La Poste is itself 73.7% held by the French government and

26.3% by La Caisse des Dépôts (100% held by the French

State) and is structured around 5 business units :

Services-Mail-Parcels (mail and parcels, logistics

solutions and local services),

GeoPost (domestic and international express services),

La Banque Postale (financial services),

La Poste Network (servicing its business units) and

Digital Services (solutions and services in the area of

digital transformation, digital marketing and digital trust).

LBP is considered as a core strategic subsidiary of La Poste:

La Poste is legally bound to keep a majority stake in LBP

(Law of regulation of postal activities, 2005)

LBP is an essential contributor to La Poste income

LBP is, by law, enabled to use La Poste’s staff for its

activities

A strong shareholding structure – the backbone of LBP

73.7%

100%

100%

26.3%

LA BANQUE POSTALE

La Banque Postale (LBP) : the heir of La Poste’s Financial Services


1817 2000

Creation of

Efiposte

(manages sight

deposits

collected by La

Poste)

Creation of the first

postal service

mandate named

‘Reconnaissance’

31/12/2005

Efiposte

becomes

La Banque

Postale

2007

Consumer

Finance

2009 2011

Corporate

lending

La Banque

Postale

Crédit

Entreprises

La Banque

Postale

Assurances

IARD

A long history of La Poste’s

financial services But still a short history as a fully-fledged bank

2012

Lending to

French local

authorities

La Banque

Postale

Collectivités

Locales

La Banque

Postale

Financement

P&C

Insurance SFH

BPE

La Banque

Postale

Home Loan

SFH

2013 2014

Sofiap

2015

Partnership

with Aegon

AM

Merger BPE /

LBPGP

Wealth

Management

Unit

Since 2006, LBP has gradually acquired tools and built up a network of partnerships to accelerate its development and

achieve its full potential

Before 2006, La Poste’s financial services business was mainly focused on savings

Since 2006, LBP developed its product range and became a fully-fledged retail bank

• Diversification of LBP lending activities has enhanced LBP role in financing the French real economy

LA BANQUE POSTALE

La Banque Postale (LBP): A business model based on core business development

and successful partnerships

6

A very active partnership policy with major players in order to accelerate new businesses launches, relying on

safe and efficient operational process

Retail banking

Private banking / discretionnary

management

Consumer finance

Public sector lending

Non-profit organisations & Corporate

banking

Life assurance

P&C

Health Insurance

Contingency insurance

Insurance

Asset management for individuals

Asset management for companies

Real estate

Asset Management

Partnership in Consumer finance

FINANCEMENT

65%

owned

by LBP

COLLECTIVITES

LOCALES

65%

owned

by LBP

Partnership in Public sector

lending

Partnership in

Life assurance

20.15% consolidated by LBP

Partnership in

P&C

ASSURANCES

IARD

65%

owned

by

LBP

Partnership in

Health Insurance

ASSURANCES

SANTE

51%

owned

by

LBP

ASSET

MANAGEMENT

25% of

Partnership in Asset

Management

5% of

Retail Banking

November 2016 CREDIT UPDATE

70%

owned

by

LBP

35% of

14% of

http://www.google.co.uk/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRxqFQoTCKXaq5jB_MgCFcNXGgodVP8MlQ&url=http://www.ue-finance.com/en/index.html&psig=AFQjCNEtkxcSYay_YGSCvxuawNLB0_s-6A&ust=1446923759527336

LA BANQUE POSTALE

La Banque Postale (LBP): a business model based on 3 business lines


Core focus on retail banking A leading position in the French banking market

Retail Banking

Retail banking

Private banking /

discretionary

management

Consumer finance

Public Sector lending

Non-profit

organisations &

Corporate banking

One of the rare pure

player in French retail

banking

Insurance

Life assurance

Contingency

P&C

Health Insurance

Partnership with CNP

Assurances

(20.15% consolidated)

Asset management

for individuals

Asset management

for companies

Real estate

LBPAM is the 5th

largest asset

management

company in France*

(€177,6bn AUM)

Asset Management

Contribution to net income before tax H1 2016

72%

6%

Retail Banking

Asset Management

Insurance

23%

* Source: AFG: the French Asset Management Association (2014)

10.8 million active retail customers

13.8% market share on ordinary savings (all savings accounts

except CEL) and 23,7% market share on the Livret A

5,6% market share on home loans outstandings

Key figures of retail banking activity at YE 2015

Retail banking in France NBI H1 2016 ** (€bn)

** H1 2016, press releases reports, excluding home savings provisions

*** Sofia Study, March 2016

**** Registration Document or press releases, YE 2015

LBP in the French banking environment

1,7

3,7

3,2

4,2

3,3

7,1

2,8

LCL

Crédit Agricole

Caisses d’Epargne

Banques Populaires

Société Générale

BNP Paribas

LBP

6,2

7,3

6,4

6,7

LCL

Crédit Agricole 22,1

Caisses d’Epargne 13,2

Banques Populaires


BNP Paribas

LBP 17,6

Penetration rates on main current account March 2016 (%)***

Number of branches YE 2015 (m)****

1,9

7,0

4,2

3,3

3,1

2,2

9,3

LCL

Caisses d’Epargne


BNP Paribas

LBP

Banques Populaires

Crédit Agricole

LA BANQUE POSTALE

A solid and stable shareholding structure, reflected in strong credit ratings


Latest rating update 2015-2016 2015-2016

France AA / Stable (October 2016) AA / Stable (June 2016)

Caisse des Dépôts et Consignations AA / Stable (October 2016) AA / Stable (May 2016)

Le Groupe La Poste A / Stable (October 2016) A+ / Stable (Dec 2015)

Latest rating update October 2016 May 2016

Long term debt A / Stable A- / Stable

Short-term debt A-1 F1

Tier 2 BBB-

La Banque Postale Home Loan SFH AAA / Stable (May 2016)

La Banque Postale’s credit ratings

LT debt ratings of La Banque Postale’s stakeholders

LA BANQUE POSTALE

Table of contents


Overview



Capital

Wrap-up

LA BANQUE POSTALE

First half 2016 : a growing loan portfolio with the development of new businesses

10

New home loans production down 24.9% yoy to €4,2bn

New consumer loans production up 1.9% yoy to €1,2bn

€5,3bn of loans granted to corporates and local public sector (down 5.7% yoy) with €2bn to corporates and €3,2bn to local public sector (including social housing associations)

A resilient loan production following an unusual 2015 year

Outstanding loans to local authorities (in €bn)

Home Loans

Consumer Loans

Loans to Businesses

Loans to Local

Authorities

Home loans outstandings (in €bn) Consumer loans outstandings (in €bn)

Outstanding loans to businesses *(in €bn)

555454535045

2012

+0,8%

H1 2016 2015 H1 2015 2014 2013

4,74,5

3,42,6

4,34,0

+9,7%

H1 2016 2015 H1 2015 2014 2013 2012

4,24,53,83,6

2,2

0,2

+9,4%

H1 2016 2015 H1 2015 2014 2012 2013

4,32,9

1,80,5

6,65,3

H1 2015

+53,0%

H1 2016 2015 2014 2013 2012

* Including social housing associations


LA BANQUE POSTALE

First half 2016 : performance


NBI : €2.9bn, +1.6%* vs June 2015

Operating expenses under control : +0.5%

Cost to Income ratio standing at 80.7%

A commercial credit activities cost of risk stable at 19 bps

Consolidated results (in €m)

Main lines of the consolidated income statement

June 2016 June 2015 %

Net banking income

Excluding the home savings provision, on a like-for-like basis

2,974

2,929

+1.6 % -6.3 %*

Operating expenses

On a like-for-like basis

-2,388 -2,376

+0.5% -0.1 %**

Gross operating income 586 552 +6.2 %

Cost of risk -84 -73 +14.5 %

Operating income 502 479 +4.9 %

CNP at equity 87 111 -21.9 %

Profit before tax 588 589 -0.2 %

Net Income, Group Share 360 370 -2.6 %

Cost to income ratio 80.7 % 81.5 % - 0.8 point

* Scope effect of €22 million (Ciloger, Fédéris Gestion d’Actifs) ** Scope effect of €14 million (Ciloger, Fédéris Gestion d’Actifs)

LA BANQUE POSTALE

First half 2016 : Focus on efficiency


An ongoing effort to improve efficiency across all fronts

First half 2016 group's operating expenses LBP Group cost to income ratio (%)

Operating expenses composition H1 2016 (%)

€2,388m (+0.5% yoy) reflecting efforts to contain

expenses despite the gradual implementation of major

transformation programs including:

IT major transformation program improving

distribution and banking platforms efficiency

A moderate growth of expenses linked to the

development of subsidiaries :

Stability of Retail banking operating expenses (-

0.2% at €2,292m including -0.4% for LBP SA

and +5.1% for Retail banking subsidiaries)

-0,8

H1 2016

80,7

2015

82,1

H1 2015

81,5

2014

82,7

2013

84,7

Focus on external services and other

expenses

* Related to the Service Level Agreement signed with La Poste

10% 2%

84%

5%

Employee benefits expensesTaxes and DutiesExternal services and other expensesAmortisation and provision

Other expenses (running costs)

ATM and other agreements*

Customer advisors / salesforce*

Back office & IT*

Counter transactions*

100%

20%

3%

31%

23%

24%

LA BANQUE POSTALE

First half 2016 : a cost of risk under control


LBP has stringent risk controls in place

LBP Group cost of risk (€m)

Group cost of risk / group gross operating income

Credit activities cost of risk (bps)*

CM11 Group

15%

Crédit Agricole Group

26%

BPCE

19%


25%

BNPParibas

21%

LBP

14%

Source: First half 2016 press releases of French banks

stable

H1 2016

19

2015

23

H1 2015

19

23

2013

25

2014

* Cost of risk on loans in bp, based on average outstanding at the start of the period

Low risk appetite and low earnings volatility

throughout the cycle

Total cost of risk increased by 14.5% but

commercial credit activities cost of risk remains

low at 19 bps, despite growth in outstanding

loans

Outstanding consumer loans: +9.7% yoy to

€4.7bn

Outstanding home loans: +0.8% yoy to €54.6bn

Total outstanding loans*: +5.1% yoy to €70.9bn

84

181

73

163154

+14,5%

H1 2016 2015 H1 2015 2014 2013

* Loans: customers and corporates

LA BANQUE POSTALE

Dynamism of insurance and asset management businesses

14

Asset management

Assets Under Management (€bn)* Portfolio evolution (in 000’s)

LBPAM / SAM : €177,6bn AUM (including Fédéris

Gestion d’Actifs for €27bn) +1.2% on a like-for-like

basis

Outflows on institutional customers (mainly on monetary

funds offset by constructive market conditions)

Launching of a new range of five flexible allocation

funds with managed risk for retail customers,

illustrating the benefits of the new partnership between

LBPAM and Aegon Asset Management :

More than €310m collected since the launch in mid-may

and €170m already managed, reflecting customers’ keen

interest in these flexible products in a low interest rate

environment

Positive net inflow on retail customers

4,8 1,31,3

177,6

149,3

H1 2016 H1 2015

LBPAM / SAM / + Fédéris H1 2016

Tocqueville

Ciloger

* Scope effect linked to La Banque Postale Gestion Privée and Xange Private Equity / Tocqueville :

assets excluding LBPAM management delegation

Insurance

An overall portfolio of policies reaching almost 4,375,000, an

increase of 6%

P&C Insurance: 279,000 new policies (portfolio +16%)

Health Insurance: more than 64,000 new policies (portfolio +52%) :

success of new products ACDS ( « hard times » health insurance)

and « Oui Santé » (supplementary health insurance assistance)

Contingency : nearly 165,000 new individual contingency policies

(stable portfolio) : end of the marketing of the single premium

funeral policy in sept 2015, due to regulatory changes

93

141

H1 2016

2 763

1 470

H1 2015

2 766

1 269 Contingency

P&C

Health


LA BANQUE POSTALE

Table of contents


Overview



Capital

Wrap-up

LA BANQUE POSTALE

Balance sheet composition

16

Balance sheet at H1 2016: €226 bn, +€7bn vs YE15

Large customers’ deposits base : €170bn

LBP “centralises” all funds deposited on regulated savings

accounts (Livret A, LDD and LEP*) to CDC**, with no

interest rate or liquidity risk (it is a pure pass-through):

€74bn

Remaining part of the deposit base (not centralised to

CDC) amounting to €96bn:

is used to fund customer lending and mainly home

loan activity

is invested in a “SSA bond” portfolio mostly

classified in HTM*** (existing before LBP creation

and mainly consisting in HQLA bonds) and a credit

spread portfolio

* Starting from the beginning of H2 2016, 50% of LEP savings accounts are no loger centralised

at the CDC

** CDC: Caisse des Dépôts et Consignations

*** Held to Maturity

LBP balance sheet at H1 2016 (€bn)

Customer deposits/

savings €170bn

12

5

22

18

22

71

74

Others

Reverse Repo

Short term assets and Central Bank

AFS Portfolio

HTM Portfolio

Loans to customers

Regulated savings centralised at CDC

Assets

226

13

8

18

15

96

74

Own funds and hybrids

Provisions

Other Liabilities

Repo

Debt securities

Customer deposits/savings excluding regulated savings

Regulated savings centralised at CDC

Liabilities

226

3

Assets out of regulated

savings centralised

at CDC €152bn


LA BANQUE POSTALE

Strong assets’quality

17

High quality of retail lending portfolios

86% of the total portfolio is individual customers’

based

Conservative financing approach, focusing on

stringent management

Doubtful loan ratios * (YE 2015)

Desensitisation to peripheral SSA** (in €bn, YE 2015) HTM and AFS portfolio composition and ratings (YE 2015)


2015

6,9%

0,9%

2014

4,6%

0,8%

Home loans

Consumer Loans

* Impaired loans / gross loans

1,20,8

1,3

0,6

0,3

1,2

0,0

2,0

2014 2013 2015

Ireland

-58%

Italy

Spain

0,9

2,5

0,0

High quality of investment portfolios

A and others

29%

AAA and AA

71%

Others

6%

Banking 28%

Sovereigns 66%

** Sovereigns, Supras and Agencies, direct exposures

LA BANQUE POSTALE

LBP funding structure and strategy


In addition to the large customer deposit business,

LBP has diversified wholesale funding sources:

- Access to the inter-banking market: €20bn

French CD program

- Large repo eligible portfolio of high quality

securities, consisting mainly of rapidly

accessible Government bonds

- Access to EIB (European Investment bank)

long term funding

- Agreement with SFIL/CAFFIL to refinance

French local authorities loan production

- Senior unsecured EMTN program

- A covered bonds program through LBP Home

Loan SFH

In order to develop its lending activity, LBP is heading

towards a gradual rebalancing of its funding sources

by increasing its long term wholesale funding

Diversified long term wholesale funding sources (at H1 2016)

Diversifying funding sources to support its lending diversification

17%

41% 10%

32% LT Repo

Covered

Senior

Tier 2

€8,6bn

Outstanding LBP Tier 2 Benchmark bonds

In June 2016, LBP priced a €500mn, 3.00% 12-year Bullet Tier 2 transaction

In Nov 2015, LBP priced a €750mm 2.750% 12NC7 Tier 2 transaction

In April 2014, LBP priced a €750mm 2.750% 12NC7 Tier 2 transaction

In November 2010, LBP priced a €750mm 4.375% 10-year Bullet Tier 2 transaction

LA BANQUE POSTALE

LBP liquidity position


A strong and stable liquidity position LBP loan to deposit ratio (€bn)

96

Centralised deposits

Customers’deposits

74

71

Customers’loans

Ratio L/D : 74%

Low reliance on wholesale funding

Sound financing structure with a loan to deposit

ratio of 74%* at H1 2016

* Loan to deposit ratio, excluding Livret A and LEP and LDD deposits centralised at the Caisse

des Dépôts et Consignations

LBP Group’s LCR and liquidity buffer (€bn)

LCR: 224% at H1 2016 (estimated)

- A strong liquidity buffer with 85% of level 1

assets

H1 2016

224%

2015

218%

3,1

Level 1

Level 2

H1 2016

21,2

18,1

LA BANQUE POSTALE

Table of contents

20

Overview



Capital

Wrap-up


LA BANQUE POSTALE

LBP capital position

21

Strong capital position

H1 2016 prudential ratios – building capital buffers CET1 prudential capital (€m)

Leverage ratio

* Estimated, taking into account the delegated act published by the EC on Oct 2014, subject to ECB authorization.

Excluding centralised deposits: €74bn out of €226bn

5,0%

H1 2016

-10 bps

3,4%

2015

5,2%

3,5% Including delegated act*

Without delegated act

360

CET1 30.06.2016

+2%

-162

Profit

-25

Dividend project

7 328

Others CET1 31.12.2015

7 155

12,7% 13,2% 13,4%

CET1

14,2% 14,7%

18,7%

14,9%

Tier1

17,0%

+20 bps 19,4%

Total

+20 bps

+70 bps

H1 2016

2015

2014

T2

AT1

CET1

H1 2016

19,4%

4,5%

1,5%

13,4%

CRDIV :

Fully loaded CET1 of 14,4% at H1 2016 : LBP

displays a higher fully loaded ratio than its

phased-in CET1 ratio because of significant

stock of unrealised gains

EBA’s 2016 stress tests results prove LBP’s solid

resilience and ability to face an adverse context :

The adverse imposed scenario would lead La

Banque Postale to reach a phased-in CET 1 ratio

of 9.7% at YE 2018.


LA BANQUE POSTALE

LBP capital position

22

Ability to generate capital to support future growth

Capital management philosophy

LBP and Group LP are committed to manage adequate

solvency levels to support LBP’s strategy as evidenced

by several capital actions

Maintaining a prudent approach on capital…

Consistently above 10% CET1 since LBP creation

At year end 2015, above LBP Pillar II requirement

of 9.25% set by the ECB following 2015 SREP

exercise

And already well above the 9.3125% requirement

as of 1st January 2016* Basel 2 / 2.5 Basel 3 / CRR

11.4%* 10.1%**

13,4%

12,7% 12,1% 13,2%

11,5%

14,2% 14,7% 14,9%

2011 2012 2013 2013 2014 2015 H1 2016

AT1

Core Tier 1

12.7%

First capital

increase

of €860m

Capital increase of

€228m and AT1

issue of €800m

Capital increase

of €633m

… under conservative risk regulatory measure

Assessing Pillar 1 risk under standard approach

Managing with conservative regulatory hypothesis

LBP Tier 1 ratios historical data

LBP RWAs historical data (€m)

Latest informations about Pillar II

The Pillar II requirement resulting from 2016 SREP

exercise, should be split into :

A Pillar II requirement, below the regulatory buffers

A Pillar II guidance, above regulatory buffers,

without impact on MDA (Maximum Distributable Amount)

The results of the EBA’s 2016 stress tests will be an

input for the calibration of the Pillar II guidance used in

the 2016 SREP exercise

8 160 8 268 8 500 8 500 8 875 9 179 9 179

25 654 30 086

35 913

47 250 42 516 43 815 43 894

1 691 787

825

825 1 271 1 215 1 542

2011 2012 2013 2013 2014 2015 H1 2016

Market RWACredit RWAOperationnal RWA

13.2%

Basel 2 / 2.5 Basel 3 / CRR

November 2016 CREDIT UPDATE * 9.25% + 0.0625% of additional « O-SIB » buffer

€54615m €54208m €52662m

LA BANQUE POSTALE

MREL and TLAC considerations


Total Loss Absorbing Capacity considerations

Following public consultation, the TLAC requirement for

G-SIBs has been released by the FSB on November 9th

2015, with expected implementation by January 1st,

2019. The Commission intends to make a proposal to

introduce this standard into EU law in 2016

As an “O-SIB” and as of today, La Banque Postale is

not subject to TLAC such as defined by the FSB.

The European Commission proposed on May 23rd 2016

a Delegated Regulation specifying the criteria that

resolution authorities will need to consider when setting

MREL, an individual measure modulated with bank’s

business model, risk profile and funding model.

Building capital buffers

TLAC vs. MREL

In this context, La Banque Postale monitors

regulatory developments pertaining to resolution

and continues to build out buffer of loss absorbing

instruments as well as the Single Resolution Board

work which should determine an MREL

requirement (Minimum Requirement for own funds

and Eligible Liabilities)

La Banque Postale’s MREL requirement has not

been yet communicated by the SRB.

11,0% 12,7% 12,1% 11,4% 12,7% 13,2% 13,40%

1,8% 1,5% 1,5% 1,50% 2,8%

4,0% 4,50%

13,2%

17,0%

19,4%

2010 2011 2012 2013 2014 2015 S1 2016

18,7%

MREL TLAC

Covered Entities All EU credit institutions International G-SIBs

Focus Pillar II Pillar I + Pillar II

Eligible Liabilities Wider definition Limits to 2.5% pari

passu instruments to

excluded liabilities

Subordinated

instruments

Denominator Total liabilities and own

funds

RWAs / Leverage ratio

Minimum Ratio Bank specific level, no

legal floor

16% initially + Capital

Buffers / 6% Leverage

ratio

Date Starting Jan’16; phased-

in period

Jan’19

LA BANQUE POSTALE

Table of contents

24

Overview



Capital

Wrap-up


LA BANQUE POSTALE

La Banque Postale at a glance

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H1 2016 Key financial figures

Strong capital and high liquidity at H1 2016

Consolidated results (in €m) June 2016 June 2015

Net banking income*

Excluding home savings provision

2,974

2,833

2,929

2,999

Operating income 502 479

Net Income, Group Share 360 370

Cost to income ratio 80.7% 81.5%

CET1 ratio: 13.4% **

Tier 1 ratio: 14.9%

Total Capital ratio: 19.4%

Estimated leverage ratio: 3.4% ***

Estimated LCR liquidity ratio: 224%

Company profile

Created in 2006 but a long track record in financial

services

Wholly-owned by La Poste, the French Postal

Service

A safe business model

Retail Banking: 94% of NBI (H1 2016)

Recurrent revenues

Conservative risk policy

Sound ratings:

A (stable outlook) by S&P

A- (stable outlook) by Fitch

Key facts H1 2016

94%

3% 3%

Retail BankingAsset ManagementInsurance

Customer deposits €170bn

Retail active Customers

Post offices (YE 2015)

NBI Split by Business

˜10.8m

˜9,300


*scope effect €22m (Ciloger and Federis) **Phased-in ratio *** Estimated ratio of 5% taking into account the delegated act published by the European Commission on Oct 2014, subject to ECB authorization

LA BANQUE POSTALE

Contact details


Stéphane Magnan [email protected]

Head of Financial Markets

Frédérique Delavaud [email protected]

Financial communication manager

Dominique Heckel [email protected]

Head of Long Term Funding

mailto:[email protected]

















LA BANQUE POSTALE

La Banque Postale

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La Banque Postale

115 rue de Sèvres

75275 Paris Cedex 06

www.labanquepostale.com


La Banque Postale Group · 2020-05-18 · LA BANQUE POSTALE A solid and stable shareholding...

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Transcript of La Banque Postale Group · 2020-05-18 · LA BANQUE POSTALE A solid and stable shareholding...