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Groupe BPCE's Q2 profit declines, while Natixis sees growth in net income

Groupe BPCE reported net income attributable to equity holders of the parent after IFRIC 21 restatement of €883 million at the end of second quarter, down from 1.77 billion a year earlier.

The result included a €60 million loss from noneconomic and exceptional items, which generated a profit of €754 million a year earlier.

The group's second-quarter underlying net banking income increased year over year to €6.11 billion from €5.84 billion. The underlying cost of risk declined 12.0% over the same period to €325 million.

For the quarter, ROE, excluding noneconomic and exceptional items and the IFRIC 21 impact, was 6.1%, down 1.1 percentage point year over year.

Groupe BPCE's CRR/CRD IV common equity Tier 1 ratio was 14.7% at June 30, up from 14.3% at the end of 2016. The group's Basel III leverage ratio stood at 5.0% at the end of June, flat compared to the end of 2016.

First-half net income attributable to equity holders of the parent after IFRIC 21 restatement fell to €1.79 billion from €2.62 billion year over year, with the underlying figure remaining almost flat at roughly €1.89 billion.

Groupe BPCE unit Natixis reported second-quarter net income group share of €487 million, up 28% compared to a year earlier. Net revenues for the quarter increased 9% on a yearly basis to €2.41 billion.

Natixis' first-half net income group share rose 32% year over year to €768 million, while net revenues were up 11% to €4.76 billion.

As of June 30, Natixis' phased-in CET1 ratio under Basel III amounted to 11.3%, compared to 11% at the end of March.