Paris, 19 November 2017
"New Dimension" 2018-2020
"deepen, digitalize, differentiate"
2020 Main financial targets
revenues growth ~ 5% per annum
rote between 13% and 14.5%
shareholder-friendly distribution policy - Up to €4BN Dividends,
with a minimum payout of 60% every year
AFTER "NEW DEAL", THE PLAN OF recovery and RENEWED CONFIDENCE AND "NEW FRONTIER" FOCUSED ON BUSINESS TRANSFORMATION AND DEVELOPMENT, NATIXIS COMMITS TO "NEW DIMENSION", A PLAN TO DELIVER SUSTAINABLE VALUE CREATION
Natixis successfully completes its "New Frontier" strategic plan with all key targets set out 4 years ago being reached or overachieved, mainly: revenues growth (+26%)1, balance sheet and risk management (7% RWA drop of which 19% in Corporate & Investment Banking)1, and profitability (RoTE 12.5% vs. 9% in 2013)1 thanks to the asset-light model implementation. Such a success has allowed Natixis to distribute a significant part of its results via dividends and to generate one of best Total Shareholder Return in the banking sector globally, to the benefit of its shareholders. The success of "New Frontier" provides solid foundations to the launch of the "New Dimension" plan, to which Natixis commits today.
"New Dimension" gathers 3 strong initiatives, all contributing to the development of high value-added solutions dedicated to our clients: Deepen businesses' model transformation, successfully embarked on the "New Frontier" plan, a significant allocation of existing investment budget towards digital technologies and a strong drive to differentiate ourselves, becoming our clients' key representative in areas where Natixis' teams have developed strong and recognized expertise.
our ability to deliver sustainable value creation relies on 3 levers
Laurent Mignon, Natixis Chief Executive Officer, said: "I am particularly pleased to unveil New Dimension today, Natixis' new strategic plan for the coming three years. After the success of New Frontier, Natixis now is a solid company, recognized for the quality of its expertise, and profitable. It is one of the top value-creating banks in the world, which I am very proud of. I would like to thank all our clients, who are at the heart of our commitment and also all 17,000 Natixis' employees for their work and general dynamism.
With New Dimension, we are going to anchor our success through time by deepening the transformation of our business model, investing in digital and by a strong will to differentiate ourselves via Natixis teams' widely-recognized expertise."
main 2018-2020 financial targets - Natixis
Net revenues | Operating expenses | CET1 FL | ROTE | Capital available for distribution |
~ 5% | < 3% | 11% | 13-14.5% | ~ €4bn |
2017-2020 | 2017-2020 | 2020 Target | 2020 | 2018-2020 |
CAGR | CAGR | after distribution | Target | |
> €10bn Net revenues in 2020 | Positive jaws effect in all businesses | No lower than 10.5% at the end of each year | Cost of risk / Net revenues < 3% over the plan | > €3bn cash dividend payment |
~ €400m revenue synergies with Groupe BPCE networks | Capacity to adjust expense trajectory, if necessary | Total capital ratio: 14% | Assuming no change in US corporate tax rate | Up to ~ €1bn for potential acquisitions and/or cash dividend |
~ 2% RWA CAGR with an accretive impact on ROE | Leverage ratio1 equal to/above 4% | ROTE target sustainable under 'Basel 4'2 | Minimum annual payout increased from 50% to > 60% |
main 2018-2020 financial targets - business lines
2020 TARGETS | Asset & Wealth Management | Corporate & Investment Banking | Insurance | Specialized Financial Services |
Net revenues CAGR | ~ 6% | ~ 3% | ~ 7% | ~ 6% |
Cost/Income ratio | ~ 68% | ~ 60% | ~ 54% | ~ 67% |
Return on Equity | ~ 16% | ~ 14% | ~ 30% | ~ 16% |
> €100bn NET INFLOWS | ~ 2% RWA CAGR | > €90bn1 LIFE INSURANCE AuM | X 1.5 PAYMENT REVENUES | |
> 30bps FEE RATE | ~ 6% NET REVENUES/ RWA | < 94%2 COMBINED RATIO | €150m ADDITIONAL REVENUES WITH GROUPE BPCE |
ASSet & wealth management (AWM)
ASSert our world-leading position in active asset management,
thanks to our size, profitability and innovation capabilities
Corporate & investment banking (CIB)
become the "go-to bank" in 4 selected sectors and
Be recognized as a solution-oriented innovative house
INsurance
consolidate our leading position in the french insurance landscape
Specialized financial services (SFS)
Become a pure player in payments in europe and
accelerate the digital transformation
Investor Relations: | investorelations@natixis.com | |||
Pierre-Alexandre Pechmeze | T + 33 1 58 19 57 36 | |||
Damien Souchet | T + 33 1 58 55 41 10 | |||
Souad Ed Diaz Brigitte Poussard | T + 33 1 58 32 68 11 T + 33 1 58 55 59 21 | |||
Press Relations: | relationspresse@natixis.com | |||
Sonia Dilouya | T + 33 1 58 32 01 03 |
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