Investor Presentaiton
BANCASSURANCE FRANCE
FINANCIAL RESULTS
(Єm)
H1 2020
H1 2021
% change
% change
(constant scope
-
Net interest margin on loan book up 34%
basis(1))
Net banking income
2,574
3,135
21.8%
8.3%
Operating expenses
(2,120)
(2,318)
9.3%
4.0%
Gross operating profit
454
817
79.9%
28.1%
Cost of risk
(79)
(25)
-68.0%
-70.3%
Operating profit
375
791
x 2.1
48.9%
Pre-tax profit
442
816
84.8%
42.2%
Attributable net profit
205
371
80.6%
48.4%
Net interest margin on deposits affected by the
level of interest rates
8% increase in fees and commissions (routine
banking transactions and account keeping)
Significant contribution by the insurance
business (up 16%), led by sustained growth in
Life premiums (up 41%), especially from unit-
linked sales (x2)
Higher general operating expenses due to low
basis of comparison in 2020; increase in line
with strategic plan trajectory
Sharply lower cost of risk
Contribution to attributable net profit up 48%
like-for-like
LA
BANQUE
POSTALE
Investor presentation / December 2021
(1) CNP Assurances consolidated on a 62.84% basis over four months in first-half 2020
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