Tag: France

Patrick Werner, Chairman of the Executive Board of La Banque Postale, today submitted the report and accounts of La Banque Postale for 2006 and traced the prospects 2007.

In 2006, Net Banking Income of La Banque Postale increased by 6.5%, ending
at 4,613 million euros; assets under management, which rose to 239,8 thousand million euros, increased by 3.8% in comparison with late 2005. The Gross Operating Profit amounted to 378.5 million euros and the net profit group share was 372.4 million euros.

La Banque Postale’s activity represents 23% of the La Poste group’s consolidated turnover which amounted to 20.1 thousand million euros.

In a highly competitive environment, marked by strong pressure on margins with respect to property loans and long-term interest rates that are still very low, La Banque Postale’s net banking income rose to 4,613 million euros in 2006, a 6.5% increase in comparison with the pro forma net banking income figures for 2005.

This has produced a Gross Operating Profit of 378.5 million euros. The current pre-tax profit, which takes account of the CNP Assurances contribution, amounting to 143 million euros, amounts to 513.7 million euros. The Net Profit Group’s share amounts to 372.4 million euros. La Banque Postale’s profits are better than those of the business plan giv en to the CECEI for the approval with a cost income ratio of 91.8% as against the more than 93% expected.

> Sales for 2006 were marked by successful life insurance and provident plan selling, par an increase in the number of active customers of La Banque Postale and the growth in actual customers’ number especially those opening new accounts.

With 11.2 million post office current accounts, La Banque Postale has proved its dynamism in retail banking. The year 2006 is thus marked by strong commercial performances in terms of account opening– more than 750,000 new accounts, plus 175,000 net – as well as in terms of number of products per customer- more than 900,000 packages subscribed this year.