BPCE: 2024 NI up 26% to E3,520m

(CercleFinance.com) - Groupe BPCE's net banking income rose by 11% to E6,046m in Q4 2024, thanks to strong commercial activity across all business lines.


At end-December 2024, it stood at E23,317m, up 5%.

Revenues from Retail Banking and Insurance (BPA) reached E4,064m, up 14% in Q4 2024, and E15,397m, up 4% in 2024.

Gross operating income rose by 40% to E1,862m in Q4 2024 and by 18% to E6,933m in 2024.

Reported net income, group share, came to E913m in Q4 2024, up 140%. In 2024, it stood at E3,520m, up 26%. Underlying net income attributable to equity holders of the parent came to E977m in Q4 2024, up 103%, and was E3,675m in 2024, up 26%.

Groupe BPCE's CET1 ratio at end-December 2024 is estimated at 16.2%, unchanged from the previous quarter.

Nicolas Namias, Chairman of the Management Board of BPCE, said that 2024 will have marked the return of performance in all our businesses. Groupe BPCE saw its earnings grow by 26% over the year as a whole and by 140% in the fourth quarter of 2024. Banques Populaires and Caisses d'Epargne are benefiting from the confirmed rebound in their net interest margins, as well as intense commercial activity, illustrated by the welcome of 846,000 new customers in 2024.


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