Third Quarter 2022 Results
3Q22: A solid performance
Revenue growth, positive jaws effect and prudent risk management
Strong growth in revenues, supported by all divisions
Strong increase in Corporate & Institutional Banking (+5.9%)
• Solid growth in Commercial, Personal Banking & Services¹ (+9.6%)
Strong rise in Investment & Protection Services (+8.9%)
Positive jaws effect (+2.0 points)
Prudent, proactive and long-term risk management reflected in
low cost of risk
Revenues: +8.0% vs. 3Q21
Operating expenses: +6.0% vs. 3Q21
(at constant scope and exchange rates)
Revenues: +4.9% vs. 3Q21
Operating expenses: +2.8% vs. 3Q21
Underlying cost of risk³
31 bps4
Very good level of net income5
Robust balance sheet
Increase in profitability (ROTE²: 11.4%)
Net income5
3Q22: €2,761m (+10.3% vs. 3Q21)
CET1 ratio: 12.1%6
1. Including 100% of Private Banking in Commercial & Personal Banking (including PEL/CEL effects in France); 2. Return on tangible equity non revaluated, see slide 81;
3. Excl. the exceptional impact of the "Act on assistance to borrowers" in Poland accounted in cost of risk, 39 bps including this impact; 4. Cost of risk/ customer loans outstanding at the beginning of the period;
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5. Group share; 6. See slide 15
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