Investor Presentaiton
WEALTH AND ASSET MANAGEMENT
FINANCIAL RESULTS
(€m)
H1 2020
H1 2021
% change
-
Net banking income
130
146
12.0%
Operating expenses
Gross operating profit
Cost of risk
Operating profit
(89)
(88)
-1.0%
41
58
39.7%
(1)
0
n/a
41
58
42.8%
Pre-tax profit
41
64
54.5%
Attributable net profit
23
39
71.5%
LA
BANQUE
POSTALE
Investor presentation / December 2021
Revenue up 12%, with:
-
Wealth Management: very strong sales of off-
balance sheet products, discretionary asset
management services and home loans
Asset Management: net new money of more than
€1bn, mainly from institutional investors for
investment in diversified asset classes and
bonds, reflecting buoyant market conditions
Decline in administrative costs
Higher contribution to attributable net profit from both
Wealth Management (up 88%) and Asset
Management (up 55%)
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