Groupe BPCE will be in a position to comply with the new 9% minimum capital adequacy ratio at June 30, 2012, fixed by the European Banking Authority.
Paris, December 8, 2011
In accordance with the timetable set out on October 26, 2011 and based on the information provided as of September 30, the European Banking Authority has updated the requirements for strengthening Core Tier 1 capital for banks so that they comply with a ratio of 9% under Basel 2.5 rules in June 2012, after deduction of a capital buffer, relating to the haircut on the European sovereign exposures.
For BPCE, the final capital requirement is estimated at €3.7 billion, representing an additional €0.3 billion in relation to the estimated amount based on the figures supplied at June 30 and published on October 27, 2011. This increase is mechanically linked to the change in the reference date as risk-weighted assets for BPCE have risen slightly between June 30 and September 30[1]. The increase has already been offset by the buyback of deeply subordinated notes settled on October 28, 2011 which resulted in a capital gain of €0.3 billion.
For the detailed results, please consult the website of the French banking supervisor Autorité de Contrôle Prudentiel at the following address: www.banque-france.fr/acp/stress-tests/stress-tests.htm
About Groupe BPCE:
Groupe BPCE, the 2nd-largest banking group in France, includes two independent and complementary commercial banking networks: the network of 19 Banque Populaire banks and the network of 17 Caisses d'Epargne. It also works through Crédit Foncier de France in the area of real estate financing. It is a major player in corporate & investment banking, asset management and financial services with Natixis. Groupe BPCE serves more than 36 million customers and enjoys a strong presence in France with 8,000 branches, 117,000 employees and more than 8 million cooperative shareholders.
| BPCE Press contact Terence de Cruz: 01 40 39 64 30 mail : presse@bpce.fr- www.bpce.fr | BPCE Investor Relations Roland Charbonnel : 01 58 40 69 30 mail : investor.relations@bpce.fr |
