Investor Presentaiton
FRENCH RETAIL BANKING RESULTS
Q422
Q421
Change
2022
2021
Change
Net banking income
2,219
2,221
-0.1%
8,839
8,489
+4.1%
Net banking income excl. PEL/CEL
2,174
2,200
-1.2%
8,647
8,450
+2.3%
Operating expenses
(1,717)
(1,688)
+1.7%
(6,473)
(6,248)
+3.6%
Underlying operating expenses (1)
(1,773)
(1,731)
+2.4%
(6,473)
(6,248)
+3.6%
Gross operating income
502
533
-5.8%
2,366
2,241
+5.6%
Underlying gross operating income (1)
446
490
-9.0%
2,366
2,241
+5.6%
Net cost of risk
(219)
20
n/s
(483)
(125)
x 3.9
Operating income
283
553
-48.8%
1,883
2,116
-11.0%
Net profits or losses from other assets
51
21
x2.4
57
23
x 2.5
Reported Group net income
250
414
-39.6%
1,445
1,550
-6.8%
Underlying Group net income (1)
208
383
-45.6%
1,445
1,550
-6.8%
7.9%
14.0%
11.6%
12.9%
6.6%
12.9%
11.6%
12.9%
Revenues
Stable vs. Q4 21
Net interest margin and other -1.8% vs. Q4 21
impacted by regulated saving rates and usury rate lag,
partially compensated by TLTRO bonification
Fees +1.9% vs. Q4 21
+5% in French networks driven by robust level of both
service and financial fees
Operating expenses
+2.4% (1) vs. Q4 21
-0.7% (1) excl. the provision for exceptional compensation
to employees as agreed with employee representatives
In EURM
RONE
Underlying RONE(¹)
2022 RONE 11.6% (1) (13.4% (¹) excl. Boursorama)
(1) Underlying data: adjusted for exceptional items and IFRIC 21 linearisation (see Supplement) including PEL/CEL
NB: including Private Banking activities as per Q1 22 restatement (France and International), includes other businesses transferred following the disposal of Lyxor
SOCIETE
GENERALE
4TH QUARTER AND FULL YEAR 2022 RESULTS 18 FEBRUARY 2023View entire presentation