Investor Presentaiton
INTERNATIONAL BANCASSURANCE
FINANCIAL RESULTS
(Єm)
H1 2020
H1 2021
%
(reported)
Net banking income
490
577
17.7%
Operating expenses
(121)
(213)
76.3%
Gross operating profit
369
364
-1.5%
1.4%
Cost of risk
1
(3)
n/a
n/a
Operating profit
371
361
-2.6%
0.2%
Pre-tax profit
371
362
-2.5%
0.0%
Attributable net profit
89
88
73
-18.0%
-1.9%
LA
BANQUE
POSTALE
Investor presentation / December 2021
%
(constant scope
and forex basis (¹))
-1.7%
-11.3%
Profit up 44% in Europe, reflecting business growth,
higher interest income, and the low basis of
comparison created by Covid-related reserves
booked in 2020
Profit down 12% in Latin America, with higher loss
ratios (due to Covid-19) and lower investment
income offset by increased business volumes and
higher margins on pensions products. Cost-saving
plan rolled out during the period
Contribution to attributable net profit down 2% like-
for-like, with revenue down 1.7% due to the growing
impact of the Covid-19 crisis on Latin America
General operating expenses down 11.3%
(1) CNP Assurances consolidated on a 62.84% basis over four months in first-half 2020
33
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