- Attributable net profit of €1.2 billion, up 19.1% vs. 2023; with growth driven by both banking and insurance activities;
- +4.1% increase in NBI to €7.6 billion reflecting the dynamic sales performance of all businesses;
- Positive jaw effect with expenses down 1.3% (€4.9 billion) in an inflationary environment, thanks to the successful implementation of the savings plan launched in 2023 and the end of the contribution to the SRF;
- Controlled risk profile with a cost of risk of 13 basis points (+2 bps), or €231 million;
- RONE up to 9% (+1.7 pts)*$
RONE = Attributable net profit/Average risk-weighted assets capitalised at 14%.
Increase in sustainable financing and responsible investments in line with the Group’s commitments as a mission-led company
- Share of sustainable MLT financing*$ in total production: 32%, +4 pts compared to 2023;
- - Responsible investment outstandings*$ of €390 billion (+1.1% vs. 2023);
- - Regulatory Green Asset Ratio (GAR) of 5.7% at 31 December 2024 (+20 bps).
Total outstanding financing for individuals, businesses and institutional investors in support of the energy transition and social and regional projects.
CNP, LBP AM, Louvre Banque Privée Scope.
Very solid financial structure
- A high solvency with a CET1 ratio of 17.8% (-0.3 pts);
- Robust liquidity position with LCR ratios at 165% and NSFR at 132%;
- CNP Assurances Group’s SCR coverage ratio was 237%, at the end of 2024 (-16 points compared with 31 December 2023).
Continuation of the transformation plan:
By strengthening the fundamentals:
- Increase in the number of Retail Banking customers won and equipped: +73% in the number of new customers equipped and +38% in the number of existing customers newly equipped, i.e. 647,000 new and existing customers newly equipped, +26% in the number of multi-equipment sales4 over one year;
- Leading bank lender5 to local authorities and public hospitals since 2015;
- Closure of Ma French Bank’s activities underway;
- Sale of the Lendopolis subsidiary, specialised in renewable energy, to Lendosphere and sale of the KissKissBankBank.com platform to Ulule;
Sales on the following products: Cards, Protection Insurance (Property & Casualty, Death & disability, Health), Savings/Patrimony (Life Insurance with scheduled payments, Equity Savings Plan) and Personal Loans.
Ranking "Finance Active Observatory of local authority debt 2024".
By developing growth and diversification levers:
- Creation of CNP Assurances Protection Sociale6 by CNP Assurances and La Mutuelle Générale with the aim of becoming a leading player in individual and group health and death & disability insurance in France;
- Significant growth in the number of dual-banking customers7 Louvre Banque Privée - La Banque Postale (+36% over one year);
- Deployment of a new LBP AM European Private Markets platform dedicated to European real and private assets within the asset management division;
- Entry into exclusive negotiations with BNP Paribas Mobility with a view to offering new mobility solutions to La Banque Postale Group’s retail customers;
Public limited company owned 65% by CNP Assurances Holding and 35% by La Mutuelle Générale since 31 December 2024.
Wealth management customers of La Banque Postale Retail Banking benefiting from the wealth management offer of Louvre Banque Privée.
By transforming our model to serve our corporate purpose:
- La Banque Postale, a pioneer in France with the publication of a Climate & Nature Report, in line with the TCFD/TNFD recommendations8 with the measurement of biodiversity footprints and the identification of sensitive areas;
- La Banque Postale, the 1st traditional bank in France to launch an impact bank card to support the environmental transition, in collaboration with WWF France;
- Publication of the first policy governing investment to protect biodiversity by CNP Assurances;
- Awarded an A non-financial rating by the CDP (Carbon Disclosure Project) ; First worldwide bank in “Diversified banks” ranking by Sustainalytics.
TCFD: Task Force on Climate-related Financial Disclosures; TNFD: Task Force on Nature-related Financial Disclosures.
La Banque Postale recorded an increase in its financial results, supported by its banking and insurance activities, in a macroeconomic environment that remains complex. It has a very solid financial structure, with robust liquidity, high solvency and a controlled risk profile.
The 2024 results confirm the relevance and success of the transformation plan we have embarked on, which is designed to serve a multi-business line model. I would like to thank all our teams, bankers, insurers and postal workers, for their commitment and professionalism in working alongside our customers, individuals, businesses, institutions and local authorities.
Stéphane Dedeyan, Chairman of the Executive Board: