NATIXIS :FOURTH-QUARTER AND FULL-YEAR 2012 RESULTS
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For best results when printing this announcement, please click on the link below: http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130217:nHUGcWSw Paris, February 17, 2013 Project for the sale of CCIs(1) for an amount of EUR12.1bn(2): simplification of Natixis' structure, deeply rooted in Groupe BPCE, value creation for shareholders 2012 underlying net income (group share)(3) of EUR1.141bn confirming earnings capacity and strengthening capital In line with the New Deal strategic plan launched in 2009, which resulted in a significant reduction of its risk profile, recurring profitability and being deeply rooted in Groupe BPCE, Natixis announces a project for the sale of CCIs for an amount of EUR12.1bn. At the end of this operation, Natixis would make an exceptional distribution of EUR2bn, i.e. EUR0.65 per share. Project for the simplification of Natixis' structure *Sale of all CCIs to Banques Populaires and Caisses d'Epargne *Closing of the P3CI transaction *(4)Simplified accounts, 83% of capital allocated to the 3 core businesses: Wholesale Banking, Investment Solutions, SFS Value-creating operation *(5)Exceptional distribution of EUR2bn, i.e. EUR0.65 per share in 2013 *(6)(7)Further strengthening of financial structure: Basel 3 Core Tier 1 ratio above 9% as of January 1, 2013 and of 9.2% after Operation *(8)Improved of cost/income ratio after Operation: 71.2% vs. 76.5% *Limited impact on net income (group share) *(8)Increase of Return on Tangible Equity (ROTE) after Operation to 8.5% from 8.1% 2012 results: core business revenues up and earning capacity confirmed *Core business revenues up +4% in 2012 vs. 2011 *Program to reduce scarce-resources consumption (capital and liquidity) completed a year ahead of schedule *(3)Good underlying results: net income (group share) of EUR1.141bn down 15% vs. 2011 (excluding interest on P3CI) *Reported net income (group share) of EUR901m, after taking into account non-operating items of -EUR240 million, net of tax (mainly revaluation of own debt) *(9)Proposition to pay a cash dividend of EUR0.10 for 2012. A 3.5% yield (based on the share price as of February 15, 2013) Dividend distribution policy favourable to shareholders: target distribution rate of 50% starting in 2013 (1) Cooperative Investment Certificates - indicative schedule in appendix (2) Subject to the experts' final reports (3) Excluding non-operating items (4) Normative capital allocation to core businesses based on 9% of Basel RWA estimated on December 31 , 2012, including goodwill allocated to business lines (5) Proposition presented to the Extraordinary Shareholders' Meeting (6) Impact will depend on final Basel 3 rules - Fully loaded except on DTA (7) Sale of CCIs, repayment of P3CI and related operations, placement of liquidities and exceptional distribution (8) 2012 pro forma figures, except non-operating items (9) Proposition presented to General Shareholders' Meeting of May 21, 2013 2012 ANNUAL RESULTS http://hugin.info/143507/R/1678847/548066.pdf ---------------------------------------------------------------------------------------------------- This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: NATIXIS via Thomson Reuters ONE HUG#1678847