Paris, November 13, 2017/2

Preparation of the Q4-2017 financial disclosures:2016 & 9M17 restated quarterly series

In view of the new strategic plan, the 2016 & 9M17 quarterly series have been restated for the following changes in business lines organization and in standards for implementation in Q4-2017.

  1. The new businesses organization mainly takes into account:
    • The split of Investment Solutions into two new divisions:
      • Insurance
      • Asset & Wealth management(1)
    • Within CIB:
      • Global finance and Investment banking are now two separate business lines
      • Creation of Global Securities & Financing (GSF), a joint-venture between FIC and Equity derivatives. The joint-venture includes Securities Financing Group (SFG, previously in FIC) and Equity Finance (previously in Equity). Revenues of GSF are equally split between Equity & FIC;
    • Within SFS, Payments division is split out of Financial Services, and constitute a separate business line
    • The removal of the Financial Investments division and its inclusion within the Corporate Center.
  2. Following changes in standards have been included:
    • Increase in capital allocation to our business lines from 10% to 10.5% of the average Basel 3 risk weighted assets;
    • Reduction in normative capital remuneration rate to 2% (compared to 3% previously);

The 2016 & 9M17 quarterly series have been restated on this new basis as if these changes had occurred on 1st January 2016.

These changes affect business lines net revenues, expenses, intermediate aggregates and capital allocation. Overall these adjustments have no impact at NATIXIS level.

The following unaudited appendix, discloses the quarterly 2016 & 9M17 income statements in accordance with this new presentation and these new standards.

Appendix: pro forma quarterly restated series by division

  1. ASSET & WEALTH MANAGEMENT(AWM)
in €m 1Q16 2Q16 3Q16 4Q16   2016   1Q17 2Q17 3Q17
Net revenues 658 676 649 735   2,718   704 743 766
Asset management(1) 624 643 615 700   2,582   671 713 730
Private Banking 34 33 34 35   136   33 30 36
Expenses (493) (493) (471) (523)   (1,981)   (519) (521) (528)
Gross operating income 165 183 177 211   737   186 222 239
Provision for credit losses 0 0 0 0   1   0 0 0
Net operating income 165 183 177 212   738   186 223 239
Associates 1 1 1 (12)   (9)   0 0 0
Other items 18 (2) (2) 2   17   9 0 (1)
Pre-tax profit 185 182 177 202   746   195 222 238
Cost/Income ratio 74.9% 72.9% 72.7% 71.2%   72.9%   73.6% 70.1% 68.8%
Cost/Income ratio excluding IFRIC 21 effect 74.3% 73.1% 72.9% 71.4%   72.9%   73.2% 70.2% 69.0%
RWA (Basel 3 - in €bn) 9.3 10.1 10.2 10.8   10.8   10.6 10.2 10.2
Normative capital allocation (Basel 3) 3,703 3,627 3,728 3,727   3,696   3,874 3,828 3,715
ROE after tax (Basel 3)(2) 11.9% 12.4% 11.2% 10.3%   11.5%   11.3% 12.5% 13.5%
ROE after tax (Basel 3) excluding IFRIC 21 effect(2) 12.2% 12.3% 11.1% 10.2%   11.5%   11.5% 12.4% 13.4%

(1) Asset management including Private equity

(2) Normative capital allocation methodology based on 10.5% of the average RWA-including goodwill and intangibles

  1. CORPORATE & INVESTMENT BANKING
in €m 1Q16 2Q16 3Q16 4Q16   2016   1Q17 2Q17 3Q17
Net revenues 769 874 744 883   3,270   971 1,019 775
Global markets 402 501 405 472   1,780   603 547 363
  FIC-T 287 345 293 312   1,238   388 389 253
  Equity 121 123 99 150   493   179 172 103
  CVA/DVA desk (7) 33 13 10   49   35 (13) 7
Global finance 301 330 330 320   1,281   312 343 315
Investment banking(1) 54 71 75 85   285   81 122 85
Other 12 (28) (66) 6   (75)   (25) 7 12
Expenses (515) (486) (472) (573)   (2,046)   (566) (555) (506)
Gross operating income 253 389 272 310   1,224   404 464 269
Provision for credit losses (71) (53) (50) (21)   (195)   (29) (48) (16)
Net operating income 182 336 222 290   1,029   375 416 253
Associates 3 4 3 3   14   3 3 3
Other items 0 0 0 0   0   0 0 0
Pre-tax profit 185 340 225 293   1,043   378 418 255
Cost/Income ratio 67.1% 55.6% 63.4% 64.9%   62.6%   58.3% 54.4% 65.3%
Cost/Income ratio excluding IFRIC 21 effect 63.0% 56.7% 64.8% 66.0%   62.6%   55.5% 55.4% 66.5%
RWA (Basel 3 - in €bn) 67.0 68.8 64.9 66.1   66.1   64.4 61.3 60.4
Normative capital allocation (Basel 3) 7,276 7,106 7,408 6,997   7,197   7,136 6,963 6,623
ROE after tax (Basel 3)(2) 6.9% 12.9% 8.2% 12.3%   10.0%   14.7% 16.5% 10.5%
ROE after tax (Basel 3) excluding IFRIC 21 effect(2) 8.0% 12.5% 7.9% 11.9%   10.0%   15.7% 16.1% 10.2%
  1. Including M&A
  2. Normative capital allocation methodology based on 10.5% of the average RWA-including goodwill and intangibles 
  3. INSURANCE
in €m 1Q16 2Q16 3Q16 4Q16   2016   1Q17 2Q17 3Q17
Net revenues 169 158 157 171   655   189 179 176
Expenses (99) (88) (89) (102)   (378)   (129) (102) (99)
Gross operating income 69 70 69 69   277   60 77 77
Provision for credit losses 0 0 0 0   0   0 0 0
Net operating income 69 70 69 69   277   60 77 77
Associates 3 1 4 2   9   4 3 2
Other items 0 0 0 0   0   0 0 0
Pre-tax profit 72 71 72 71   287   65 80 79
Cost/Income ratio 59.0% 55.5% 56.3% 59.5%   57.6%   68.1% 56.9% 56.2%
Cost/Income ratio excluding IFRIC 21 effect 54.7% 57.0% 57.9% 60.9%   57.6%   54.9% 61.5% 60.9%
RWA (Basel 3 - in €bn) 7.1 6.9 7.2 7.2   7.2   7.4 7.2 7.4
Normative capital allocation (Basel 3) 724 836 823 850   808   857 871 849
ROE after tax (Basel 3)(1) 22.7% 19.9% 20.7% 20.0%   20.8%   17.7% 21.6% 22.3%
ROE after tax (Basel 3) excluding IFRIC 21 effect(1) 25.3% 19.1% 19.9% 19.3%   20.8%   25.6% 19.0% 19.6%

(1) Normative capital allocation methodology based on 10.5% of the average RWA-including goodwill and intangibles

  1. SPECIALIZED FINANCING SERVICES
in €m 1Q16 2Q16 3Q16 4Q16   2016   1Q17 2Q17 3Q17
Net revenues 343 342 325 341   1,352   344 347 341
Specialized Financing 215 212 203 210   840   219 218 215
Factoring 38 39 39 42   158   39 39 38
Sureties & Financial Guarantees  56 43 47 45   191   55 46 52
Leasing 52 59 49 54   213   54 61 52
Consumer Financing 64 66 63 63   257   66 65 67
Film Industry Financing 5 6 5 6   21   5 6 5
Payments 83 81 80 85   329   81 83 83
Financial Services 46 49 43 45   183   44 46 43
Employee savings  plans 22 25 20 21   89   21 22 21
Securities Services 24 23 23 24   94   23 23 22
Expenses (226) (222) (216) (221)   (885)   (233) (228) (229)
Gross operating income 117 120 109 120   466   112 118 112
Provision for credit losses (13) (17) (12) (16)   (57)   (21) (14) (13)
Net operating income 104 103 97 105   409   90 104 99
Associates 0 0 0 0   0   0 0 0
Other items 0 31 0 0   31   0 0 0
Pre-tax profit 104 135 97 105   440   90 104 99
Cost/Income ratio 65.9% 64.9% 66.5% 64.7%   65.5%   67.6% 65.8% 67.1%
Cost/Income ratio excluding IFRIC 21 effect 63.6% 65.7% 67.3% 65.5%   65.5%   65.6% 66.5% 67.7%
RWA (Basel 3 - in €bn) 13.7 14.8 14.6 15.4   15.4   15.2 16.0 15.7
Normative capital allocation (Basel 3) 1,698 1,694 1,803 1,782   1,745   1,961 1,889 1,907
ROE after tax (Basel 3)(1) 16.1% 20.8% 14.1% 15.4%   16.5%   12.6% 15.1% 14.0%
ROE after tax (Basel 3) excluding IFRIC 21 effect(1) 17.4% 20.4% 13.7% 15.0%   16.5%   13.6% 14.7% 13.6%

(1) Normative capital allocation methodology based on 10.5% of the average RWA-including goodwill and intangibles

  1. CORPORATE CENTER
in €m 1Q16 2Q16 3Q16 4Q16   2016   1Q17 2Q17 3Q17
Net revenues 124 161 48 389   723   138 122 146
Coface 162 139 125 203   629   137 152 167
Others (38) 22 (77) 186   94   1 (30) (21)
Expenses (271) (234) (199) (245)   (948)   (324) (189) (169)
Coface (130) (127) (125) (148)   (530)   (122) (128) (119)
SRF (79) (35) 0 0   (114)   (128) 6 0
Others (62) (71) (74) (97)   (305)   (74) (66) (50)
Gross operating income (147) (72) (150) 144   (225)   (186) (67) (23)
Provision for credit losses (4) (19) (7) (24)   (54)   (20) (5) (26)
Net operating income (151) (91) (157) 120   (279)   (206) (72) (49)
Associates 0 0 (3) 1   (2)   0 0 0
Other items 11 (73) 105 10   53   1 18 0
Pre-tax profit (139) (164) (55) 130   (228)   (205) (54) (49)

Contacts:

Investor Relations: investorelations@natixis.com  
     
Pierre-Alexandre Pechmeze T + 33 1 58 19 57 36  
Damien Souchet T + 33 1 58 55 41 10  
Souad Ed Diaz Brigitte Poussard   T + 33 1 58 32 68 11T + 33 1 58 55 59 21      

www.natixis.com

(1) Asset management includes Private equity

Attachments:

http://www.globenewswire.com/NewsRoom/AttachmentNg/dd8e1e97-1283-49b0-8087-e81447e85bf8