Good performance by Retail banking inside and outside france, positive contribution from Corporate and Investment Banking
Stable cost of risk excluding Greece (51 bp**)
No significant impact on Q3 11 results of non-recurring items
9 MONTHS 2011: GROUP NET INCOME OF EUR 2,285M
EPS(1) EUR 2.77
ADAPTATION OF THE BALANCE SHEET AND STRENGTHENING OF CAPITAL BASE
Decline in GIIPS sovereign risk exposure to a very low level: EUR 3.4bn at end-October 2011
Greek government bond provisioning rate raised to 60% (EUR -333m before tax)
Increase in Group provisioning: NPL coverage ratio increased from 71% to 74%
Disposal of EUR 10bn of legacy assets between July 1st and November 1st with a modest impact on net banking income (EUR -121m before tax)
Substantial decline in liquidity needs: EUR -40bn since end-June
Board proposal not to distribute a dividend in respect of the 2011 financial year
Core Tier 1 ratio of 9.5% at end-September 2011
Sharp reduction in capital need by mid-2012 in order to meet EBA requirements: EUR 2.1bn vs. an initial estimate of EUR 3.3bn
* When adjusted for changes in Group structure and at constant exchange rates.
** Cost of risk excluding litigation issues, legacy assets, Greek government bond write-down and specific Geniki provisions
(1) After deducting interest to be paid to holders of deeply subordinated notes and undated subordinated notes (respectively EUR 225 million and EUR 18 million)
Established in Canada in 1974 and coupled with our global reach, our ambition is to become the go-to international bank for our chosen Canadian clients in our selected areas of expertise: financial institutions, multinationals and governments, infrastructure, power and utilities, oil and gas, mining and soft commodities.
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