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Présentation Powerpoint BFCM INVESTOR PRESENTATION – Half Year - 2019 SEPTEMBER 2019 INVESTOR PRESENTATION SEPTEMBER 2019 - BFCM Disclaimer This document has been prepared by Banque Fédérative du Crédit Mutuel ("BFCM") solely for use in this presentation. This document may contain a number of statements that are not historical facts, including statements about Crédit Mutuel Alliance Fédérale and BFCM’s beliefs and expectations. These statements may constitue forward-looking statements. Forward-looking statements are based on current plans, estimates and objectives, which are subject to uncertainty and may prove to be untrue. Therefore undue reliance should not be placed on them. Forward-looking statements are only made as of the date of this presentation, and neither the Group nor BFCM undertakes any obligation to update publicly any of them in light of new information or future events. This presentation is not to be reproduced by any person other than its original recipient. Crédit Mutuel Alliance Fédérale and BFCM take no responsibility and assume no liability for the use of these materials by any such person. This presentation and subsequent discussion does not constitute a public offer for the purposes of any applicable law or an offer to sell or solicitation of an offer to purchase any securities or other financial instruments and no part of it shall form the basis of or be relied upon in connection with any investment Juneision. Audit procedures have been performed on the key financial figures disclosed on 25th of July. The audit certificate will be issued after finalization of the additional procedures required for the publication of the annual financial report. Crédit Mutuel Alliance Fédérale (“The Group”) represents the Group members of the Caisse Fédérale de Crédit Mutuel and the consolidated data of its subsidiaries: the Caisses de Crédit Mutuel Centre Est Europe, Sud-Est, Ile de France, Savoie-Mont Blanc, Midi-Atlantique, Loire-Atlantique & Centre-Ouest, Centre, Normandie, Dauphiné-Vivarais, Méditerranée and Anjou, and their common Caisse fédérale (CF de CM), and of the Banque Fédérative du Crédit Mutuel, its main subsidiaries: ACM,CIC,Targobank Germany, Targobank Spain, Cofidis, BECM, CIC Iberbanco , EI and others. 2 INVESTOR PRESENTATION SEPTEMBER 2019 - BFCM Agenda Crédit Mutuel Alliance Fédérale at a glance p.4 1. Crédit Mutuel Alliance Fédérale organization p.6-7 2. Crédit Mutuel Alliance Fédérale key takeaways p.9-12 3. Strategic plan p.14-17 4. Financial highlights by business lines p.19-27 5. Risk management p.29-30 6. Capital-MREL p.32 - 35 7. Funding policy p.37-42 8. SRM p.44-46 Appendices p.47 Results by business lines p.49-52 Stress test 2018 p.57-60 Customer priority plan takeaways p.62-63 Awards 3 INVESTOR PRESENTATION SEPTEMBER 2019 - BFCM Crédit Mutuel Alliance Fédérale at a glance more than 25 million clients 4.7 mn members 4,410 branches €45.6 bn equity capital Crédit Mutuel 4 main CIC brands Targobank Cofidis A real cooperative Group belonging to its members A ‘bancassureur’ business model Financing the real economy A strong financial profile An entrenched innovative culture Aa3 / stable A / stable A+ / stable INVESTOR PRESENTATION SEPTEMBER 2019 - BFCM 4 1. Crédit Mutuel Alliance Fédérale organization INVESTOR PRESENTATION SEPTEMBER 2019 - BFCM Crédit Mutuel Group organization 18 FEDERATIONS CRÉDIT MUTUEL GROUP structure & governance c.7.8 million members 32.5 million clients 22,450 voluntary local board members c.82,000 employees 2,083 Crédit Mutuel Local Banks REGIONAL BANKS 18 Crédit Mutuel Alliance Fédérale Regional Federations Crédit Mutuel Massif Central Crédit Mutuel ARKEA 6 CMNE (1) «Caisses fédérales» CMMA-BN (2) CMO (3) Confédération Nationale Antilles Guyane National Body du Crédit Mutuel (1) CMNE: Crédit Mutuel Nord Europe As at December 2018 (2) CM MABN: Crédit Mutuel Maine Anjou Basse Normandie (3) CMO: Crédit Mutuel Océan INVESTOR PRESENTATION SEPTEMBER 2019 - BFCM 6 Crédit Mutuel Alliance Fédérale A cooperative banking group with one issuer (*) 4.7 mn Members & 14,763 unpaid board members Consolidation level Issuer 1,345 Crédit Mutuel Local Banks Crédit Mutuel Cooperative entities 11 regional Federations Alliance Fédérale of the Group 1 Caisse Fédérale de Crédit Mutuel Banque Fédérative du Crédit Mutuel SA 1. Funding arm of Crédit Mutuel Alliance Fédérale BFCM Group BFCM 2. Manager of the Group’s liquidity, critical & payment functions, access to ECB 3. Owner of all business lines out of Bond issuer on Capital Markets the mutual perimeter CIC Group Bancassurance Other Crédit Mutuel - CIC Subsidiaries Home Loan SFH - 5 regional banks, GACM (Insurance), - Private Banking, Targobank in Technology, - Private Equity, Germany & Issuer Media, - CIB Spain, of Cofidis Logistics Covered Bonds (*) including Crédit Mutuel-CIC Home Loan SFH INVESTOR PRESENTATION SEPTEMBER 2019 - BFCM 7 2. Crédit Mutuel Alliance Fédérale key takeaways INVESTOR PRESENTATION SEPTEMBER 2019 - BFCM Crédit Mutuel Alliance Fédérale : strong results (1st half 2019) historical performance Net revenues +6.4% 7,537 strong activity growth 8,714 Operating Expenses +3.3% 4,567 well under control 2,970 Gross Operating Income +11.7% 5,356 operational efficiency 904462 Cost of Risk +32.5% some exceptionals but low COR as % of total loans 2,9931,629 Net Profit +5.2% best H1 result ever €mn INVESTOR PRESENTATION SEPTEMBER 2019 - BFCM 9 Crédit Mutuel Alliance Fédérale : Net Banking Income from operational activities Contribution by business units(*) € mio Retail banking Insurance Specialized IT-media business lines logistic Crédit Mutuel Alliance Fédérale Groupe des Commercial banking Euro Information CIC Assurances du Crédit Mutuel Investment banking EI Telecom €mn COFIDIS Private banking Media Factoring / leasing Private equity Asset management Net revenues 5,265 1,096 831 873 % of operational 65% 14% 10% 11% business lines (*) operational activities, excluding holding INVESTOR PRESENTATION SEPTEMBER 2019 - BFCM 10 Crédit Mutuel Alliance Fédérale : contribution by geographic regions 89% of the Group net revenues made in France + Germany well defined core markets France Germany Spain & Europe others €mn Portugal Revenues(1) 5,572 823 306 380 111 77.5% 11.5% 4.2% 5.3% 1.5% GERMANY 3.9 mn clients 22.5 % 338 branches 22.0 €bn loans 22.1 €bn deposits FRANCE 172 €mn net profit 17.5 mn clients 3,916 branches 337.4 €bn loans (1)excl inter-cie accounts exl holdings 278.5 €bn deposits 1,321 €mn net profit SPAIN & PORTUGAL 2.6 mn clients 125 branches 5.7 €bn loans 1.8 €bn deposits 46 €mn net profit INVESTOR PRESENTATION SEPTEMBER 2019 - BFCM 11 Financial performance (June 2019 vs June 2018 unless specified) EFFICIENCY & SOLIDITY high profitability solid capitalisation & liquidity RoRWA cost to income CET1 ratio-FL Leverage ratio-FL (1) As at December 2018 1.4% 60.6% 62.5% 17.4% 16.3% 6.3% 5.7% 61.9 % Cost of risk 16.6 % 6.0 % LCR 24 bp 19 bp 22 bp 138% 127% June 2019 June 2018 (1) excl.transitional measures Dec 2018 INVESTOR PRESENTATION SEPTEMBER 2019 - BFCM 12 3. 2019-2023 Strategic plan INVESTOR PRESENTATION SEPTEMBER 2019 - BFCM 2019-2023 : Strategic plan in a nutshell 3.Technological 1.Financial 2.Human & mutualist investments for targets development transformation goals INVESTOR PRESENTATION SEPTEMBER 2019 - BFCM 14 1. Financial targets TARGET 2023(*) cost Net revenues to RoRWA CET1 income profit + 3%/year < 60% > 4 €bn > 1.5% > 18% (*) all other things being equal/at a constant regulatory scope INVESTOR PRESENTATION SEPTEMBER 2019 - BFCM 15 2. Human & mutualist development goals TARGET 2023 PROJECT GENDER EQUALITY REDUCTION IN TRANSFORMATION IN MANAGEMENT MEMBERSHIP FINANCING WITH THE GROUP’S TRAINING STRONG & RATE CARBON GIVEN TO STAFF ENVIRONMENTAL GOVERNANCE IMPACT FOOTPRINT 100% 50/50 >90% +30% >30% INVESTOR PRESENTATION SEPTEMBER 2019 - BFCM 16 3. Technological investments for transformation TECHNOLOGICAL 1.2 DEVELOPMENT million man-days CAPITAL INVESTMENT €350 IN TECHNICAL million INFRASTRUCTURES INVESTOR PRESENTATION SEPTEMBER 2019 - BFCM 17 4. Financial highlights by business lines INVESTOR PRESENTATION SEPTEMBER 2019 - BFCM Activity (1/3) : The strength of the local network for a multiservice strategy . Crédit Mutuel Alliance Fédérale intends to maintain the strength of its local network Network adaptation to local demographic & economic trends and technical possibilities 97% of the loan approvals are done locally Dedicated account managers . The new strategic plan leads to the acceleration of the diversification : To a resolutely multiservice strategy , DNA of the Group +139,000 new clients in mobile phones To the deployment of an innovative commercial approach-pioneer in cognitive & digital solutions in France To the launch of a real estate offer for old buildings & a telecommunication service offer (high speed BOX) . The success of this diversification strategy is demonstrated by: The dynamism of the insurance business which remains a major line of development ( +11% increase in NBI contribution in H1 2019) The French residential remote surveillance = No. 1 in 2018 (with 30% market share) , +29,000 new clients in home surveillance in H1 2019 The real estate = No. 1 realtor in newly built housing in France in 2018 . Investments for development Training: 6.4% of payroll HR and salary policy Technological developments 730,000 man/day in 2018 (+ 16%) INVESTOR PRESENTATION SEPTEMBER 2019 - BFCM 19 Activity (2/3) : Financial figures ‘Bancassurance’, the core business of the Group, remains strong thanks to positive new business figures in all segments and the extension of cross-selling to new services adapted to the customer needs and the persistent low interest rate environment Change H1.2019 H1.2018 €bn in % Customers loans 378.1 358.3 +5.5% Total savings 611.2 587.1 +4.1% o/w customers deposits 316.5 297.9 +6.3% o/w Insurance savings 97.7 94.7 +3.2% o/w financial savings 197.0 194.5 +1.3% 20 INVESTOR PRESENTATION SEPTEMBER 2019 - BFCM Activity (3/3) : Financial figures Deposit outstanding is up to respectively 6% and 6.9% at Crédit Mutuel Alliance Fédérale and CIC networks Breakdown of deposit Crédit Mutuel Bancassurance CIC Bancassurance Network Branch Network PEP/CAT,,, .
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