BRUSSELS, August 18, 2015 – On July 30, 2015, the Supervisory Board of the French ESBG member, Banque Populaire and Caisse d’Épargne (BPCE), convened a meeting chaired by Pierre Valentin to examine the Group’s financial statements for the second quarter and first half of 2015.
Groupe BPCE Management BoardChairman François Pérol said: “Our results for the first half of 2015 confirm the positive trajectory followed by Groupe BPCE. Net income (excluding non-economic and exceptional items) reached 1.76 billion euros for the first six months of the year, equal to growth of 10% compared with the same period in 2014.
"The revenues of our core business lines have risen by 7.2%, buoyed up by the positive commercial dynamics of the retail banking networks, Crédit Foncier and the business activities of Natixis, against a background of tightly managed operating expenses (+2.7%) and stability in the cost of risk.
"The Group’s balance sheet is continuously being reinforced in line with the targets laid down in our strategic plan “Another way to grow,” with further improvement during the quarter of our capital adequacy ratios (a Common Equity Tier-1 ratio of 12.4%, +20 basis points; total capital of 15.9%, +20 basis points), our leverage ratio (4.8%, +20 basis points), and our liquidity reserves which now cover 170% of our short-term funding requirements. As the sixth anniversary of its creation approaches at the end of July 2015, Groupe BPCE has demonstrated its financial strength and commercial dynamism.”
>> See the June 30 BPCE results press release