NATIXIS -2020 Universal Registration Document

FINANCIAL DATA Consolidated financial statements and notes

9.6

Segment information

9.6.1

Segment reporting in the income statement

At December 31, 2020

31/12/2020

Asset & Wealth Management (b)

Corporate & Investment Banking

Payment Corporate Center (c)

Insurance

Total

(in millions of euros)

Net revenues

3,225

2,663

901

431

86

7,306

2019/2020 change (a)

(14)%

(17)%

6%

2%

(91)% (522) (54)% (436)

(21)%

Expenses

(2,387)

(2,037)

(491)

(391)

(5,828)

2019/2020 change (a)

(4)%

(6)%

3%

6%

(12)%

838

626

410

39

1,478 (42)% (851)

Gross operating income

2019/2020 change (a)

(34)%

(41)% (819) 163% (193)

12%

(25)%

146%

Provision for credit losses

(27)

0

2

(8)

2019/2020 change (a)

234%

(210)%

(18)% (444)

157%

Net operating income

811

410

42

626

2019/2020 change (a)

(36)%

(126)%

12% (17)

(17)%

137%

(72)%

Associates

1

10

0

(47)

(53)

2019/2020 change (a)

50% (55)

(5)%

(271)%

(351)%

Other

(0)

0

0

(132)

(187)

2019/2020 change (a)

(119)%

(127)%

Income before tax

757

(183)

393

42

(622)

386

2019/2020 change (a)

(40)%

(125)%

4%

(17)%

(87)%

Net income Group share

459

(139)

271

29

(519)

101

2019/2020 change (a)

(31)%

(126)%

5%

(14)%

(225)%

(95)%

This information is determined based on the accounting principles applied in accordance with IFRS as adopted by the European Union at December 31, 2020.

(a) (b)

Restated change between December 31, 2020 and December 31, 2019.

5

Of which for Asset Management: - net banking income: €2,948 million; - expenses: -€2,157 million; - gross operating income: €792 million; - provision for credit losses: -€27 million;

- pre-tax profit: €711 million. Of which short-term cash:

(c)

- net banking income: €140 million; - expenses: -€62 million;

- gross operating income: €78 million; - provision for credit losses: -€0 million; - pre-tax profit: €78 million. Of which Coface: - share of net income of companies accounted for under the equity method: -€47 million (-€57.5 million of impairment on the value of equity-accounted investments and +€10.5 million in euros in respect of operating income for 2020); - other: -€145.6 million corresponding to the gain on disposal of 29.5% (see Note 1.2.1).

Breakdown of net revenues

(in millions of euros)

Net revenues

2019/2020 change

Asset & Wealth Management

3,225

(14)%

Asset Management

2,948

(16)%

Wealth Management

178

20%

Employee Savings

99

(1)%

2,663

(17)%

Corporate & Investment Banking

Capital Markets (a)

944

(32)%

Global finance & Investment banking

1,671

(7)%

Other

48

97%

Insurance

901 431

6% 2%

Payment

Corporate Center

86

(91)% (21)%

TOTAL

7,306

Of which €1,069 million excluding the net revenues of the XVA desks, which can be broken down into €1,114 million in net revenues for FICT and -€45 million for Equities. (a)

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2020