Quarterly Financial Information, Q4 2017

Highlights:

Good revenue performance by the businesses in a mixed environment (2017 underlying net banking income(1) +0.5% vs. 2016):

• Good commercial momentum in French Retail Banking against a backdrop of low interest rates;
• Record contribution from International Retail Banking & Financial Services;
• Resilient performance from Global Banking & Investor Solutions.

Cost discipline maintained throughout the Group (underlying operating expenses(1) +1.5% vs. 2016)

Very low cost of risk (19bp in 2017 vs. 37bp in 2016) confirming the quality of the asset portfolio

Improvement in the Group’s profitability (2017 underlying ROTE(1) 9.6% vs. 9.3% in 2016)

2017 dividend of EUR 2.20 per share proposed to the General Meeting

Financial data:

Q4 2017
Revenues(1): EUR 6,228m (+0.8% vs. Q4 16)
Operating expenses(1): EUR -4,586m (+3.1% vs. Q4 16)
Underlying net income(1): EUR 877m (-24.1% vs. Q4 16)
Book net income: EUR 69m
CET1 ratio: 11.4% at December 31st, 2017n

Full-year 2017
Revenues(1): EUR 25,062m (+0.5% vs. 2016)
Operating expenses(1): EUR -17,243m (+1.5% vs. 2016)
Underlying net income(1): EUR 4,491m (+8.4% vs. 2016)
Book net income: EUR 2,806m
ROTE(1): 9.6% at December 31st, 2017

Fréderic Oudéa, the Group’s Chief Executive Officer, commented:

“2017 was another important and positive milestone in the Group’s transformation: ongoing adaptation of the business model, strengthening of the businesses’ innovation capacity, definition of the new strategic plan “Transform to Grow”, implementation of a new more agile organisation. In addition to the impacts of a number of exceptional items, the 2017 financial results reflect the healthy commercial momentum of all our businesses, the disciplined management of our costs and risks and the improvement in our underlying profitability.

We are starting 2018 with confidence, sustained by the ambition to seize the growth opportunities of our activities, in an economic and financial environment that should gradually be more favourable. We will focus on the disciplined execution of the first year of our new strategic plan. With globally recognised expertise, the exceptional commitment of our teams and a solid balance sheet, we are resolutely aiming to be a trusted partner of our customers, deeply involved in the positive transformation of our societies and economies.”

(1) Underlying data. See methodology note 5 for the transition from accounting data to underlying data