[PDF] 2020 ANNUAL RESULTS 2030 STRATEGIC PLAN



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2020 ANNUAL RESULTS 2030 STRATEGIC PLAN

Ma French Bank, La anque Postale’s ߹ully-mobile bank launched in late July 2019, confirmed its success with 280,000 customers signed up by the end of 2020 Of these, 64 were signed up by the La Poste distribution network, which has been extended since 30 June to include



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Figure 1: The size of the letter post and parcel sectors by country, 2017 14 Figure 2: Postal services classification 16 Figure 3: Electronic communication with public institutions, 2018 19



Postal Services Innovation Management in the Postal Industry

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Report Number RISC-WP-20-003 March 25, 2020

countries except the United States La Poste in France shares rural post office space with government agencies and outsources some postal operations to local government employees Other posts have tried smaller programs, like operating mobile post office vans, or utilizing a hybrid carrier-clerk model where employees



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Western Europe Asia Pacific Global B2B (2013-2020 CAGR) 13-) B2B vs B2C growth1 Challenges: Drivers of growth Volatility Last mile Yields Returns 46 49 Smartphone penetration in mobile phones by 20174 Internet penetration in population by 20175 55 Urban population out of total by 20173 12 Middle class growth rate in APAC 2009-20207



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2020: in a difficult environment, the expanded group delivered resilient results and

A WATERSHED YEAR SHAPED BY NON-RECURRING TRANSACTIONS related to the first-time consolidation of CNP Assurances - Restated for the above items, attributable net profit came to זבוڡȅً in consolidation scope resulting from the full consolidation of CNP Assurances (positive

CREATION OF A LEADING BANCASSURER

- A diversified mix of businesses: 64.5% Banking services and 33.4% Insurance services - 11th largest bank in the euro zone, with: - Total assets: ובוڡ - Net banking income of וِוڡ - One of the strongest balance sheets in the sector: - CET1 ratio: 20.4% - A Solvency II ratio of 208% for CNP Assurances robustness of the loan book: non-performing loans (NPL) 0.7%

HELPING TO STEER A JUST TRANSITION

- Recognised leadership in ESG performance: Rated Global No.1 by Vigeo and Global No.3 by

Sustainalytics

- SRI label awarded to 100% of eligible LBP AM funds and 95% of under-mandate assets managed by BPE - Gender pay ratio of 97:100 based on the Pacte Law definition - Access to banking services given to 1.5 million people who would otherwise have been excluded Philippe Heim, Chairman of La Banque Postale's Executive Board, said: ڔ

2020 was a unique year, shaped by the completion of major strategic transactions, not least of which

bancassurers. La Banque Postale delivered resilient results in a difficult economic and public health

environment which held back revenue growth and led to the application of conservative

and particularly robust financial structure, the Group is poised to step up the pace of transformation

and development, guided by an overriding commitment to customer satisfaction and its community

2020 ANNUAL RESULTS

2030 STRATEGIC PLAN

PRESS RELEASE

Paris, 2 March 2021

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2020 HIGHLIGHTS

DEPLOYMENT OF AN INTEGRATED BANCASSURANCE MODEL

2020 was a unique year for La Banque Postale, shaped by the integration of CNP Assurances

and other transactions that redefined its structure, and also by the Covid-19 health and

economic crisis. In a challenging environment, the Group leveraged its more diversified and balanced business Insurance business contributed 33.4% in 2020. Restated to exclude first-time consolidation entries and the contribution of CNP Assurances, net banking income amounted to

Covid-19 impact.

and the prospective approach to credit losses imposed by the new accounting standards. structure, with a CET1 ratio of 20.4% and a total capital ratio of 24.5%.

TRANSACTIONS THAT REDEFINED THE J"...Ȩټ

CREATING A NEW CONFIGURATION

The integration of CNP Assurances effective 4 March 2020 was accompanied by significant improvements in governance to reflect the new integrated bancassurer business model. and its corporate functions (finance, risk management, audit, legal affairs and compliance) and Internal Audit directors now reporting on a dotted-line basis to their counterparts at La

Banque Postale.

Postale Assurances IARD, while at the same time extending cooperation in the legal protection and assistance market with Groupama, which remains a long-term partner. In asset management, La Banque Postale opened a new chapter in the history of its subsidiary La Banque Postale Asset Management (LBP AM). Building on its pioneering role in promoting socially-responsible investing, LBP AM has become a multi-specialist conviction management firm focused exclusively on sustainable finance. The fixed-income and insurance-related asset management businesses of La Banque Postale and Natixis were combined on 31 October 2020 in a joint venture named Ostrum AM, 3

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institutional clients. Ostrum AM is 45%-owned by LBP AM and 55%-owned by Natixis IM. At the end of 2020, La Banque Postale completed the sale of its 5% interest in the capital of SFIL renewed in advance its partnership with SFIL through to the end of 2026, for the distribution of medium- and long-term loans to local public agencies and public hospitals. Lastly, CNP Assurances consolidated its multi-partner model in Brazil and other international markets. A new 25-year exclusive distribution agreement was signed on 30 banks in Latin America), covering the distribution of death & disability insurance, consumer finance term creditor insurance and retirement products (vida, prestamista, previdência) through the CEF network. A memorandum of understanding has been signed enabling a 20- year exclusive distribution agreement covering consórcio products distributed by the CEF network, mainly for home and car purchases. A DYNAMIC SALES PERFORMANCE DESPITE THE UNFAVOURABLE

ENVIRONMENT

In an environment shaped by the Covid-19 health and economic crisis leading to two periods of lockdown, the Retail Banking business reported outstanding loans up 1.7% and customer savings up 4.6%. The Retail Banking teams kept up their efforts to deploy and develop the multi-channel approach in order to better serve customers during the Covid-19 crisis. Multi- channel access to banking services was strengthened throughout 2020. In the period from the start of the first lockdown in early March until the year-end, there were over 3 million visitors each day to the site and the app, and customer service lines processed an average of 50,000 calls per day, with the number of calls peaking at 100,000.

Reflecting its determination to continue offering customers a high-quality service in this

exceptional environment, La Banque Postale adjusted its organisation to encourage home working and remote banking services, without having to furlough any of the 25,000 affected employees. its success with 280,000 customers signed up by the end of 2020. Of these, 64% were signed up by the La Poste distribution network, which has been extended since 30 June to include

3,000 post offices; 60% are in the under-38 age group and 75% did not previously have a current

account with La Banque Postale. Ma French Bank has recently expanded its product range with the launch of the WeStart account designed for 12 to 17-year olds. higher profits, with net banking income up 9% and net profit up 18%3. This performance was year of premium income from Emeraude, a life insurance product developed by CNP desks had been opened in 50 post offices. The Corporate Loan business remained strong, ɯǣɎǝ האڡ

3 Statutory accounts of the entity

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billion. These originations lifted outstanding corporate loans (excluding factoring) by 16.8% to CAFFIL). - by positioning La Banque Postale as a leader in customer experience - by highlighting its unique role as a community bancassurer

ROBUST EARNINGS AND A STRONG FINANCIAL STRUCTURE

La Banque Postale Group business activity and results The 2020 results delivered by La Banque Postale in an environment defined by the Covid-19 crisis and persistently low ٫ and in some cases negative ٫ billion in PPA effects. and PPA). estimated ו׎זڡ Excluding the non-recurring impact of CNP Assurances first-time consolidation entries, quotesdbs_dbs7.pdfusesText_13