(CercleFinance.com) – Groupe BPCE records an 8% drop in its net banking income to 5,455 million euros in the 3rd quarter of 2023 (stable compared to the 2nd quarter of 2023) and a drop of 8% to 16,736 million euros over the 9 months of 2023.
Revenues from the Community Banking and Insurance (BPA) division amounted to 3,721 million euros (- 8%) in the 3rd quarter of 2023 and 11,267 million euros (- 9%) in the 9 month of 2023. Global Financial Services division recorded revenues up 2% in the 3rd quarter of 2023 and the 9th month of 2023, respectively at 1,736 million euros and 5,356 million euros.
The net interest margin reached 2.0 billion euros in the 3rd quarter of 2023, down 17% year-on-year. Commissions increase by 4% to 2.5 billion euros in the 3rd quarter of 2023 and are stable at 7.5 billion euros in the 9th month of 2023.
The published net profit share of the group in the 3rd quarter of 2023 reached 917 million euros, down 28% (1,273 million euros in the 3rd quarter of 2022) and reached 2,423 million euros in the 9 months of 2023 compared to 3 211 million euros in the 9th month of 2022 (- 25%).
The underlying group share of net income stood at 957 million euros in the 3rd quarter of 2023, down 28% compared to the 3rd quarter of 2022 (1,337 million euros) and at 2,445 million euros in the 9 months. of 2023 (- 26%).
Groupe BPCE’s CET1 ratio at the end of September 2023 reached an estimated level of 15.4%, compared to 15.2% at the end of June 2023.
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