EU FINANCIALS: BPCE - Q4 24 Results
Feb-06 16:34
Credit Neutral. Solid year, decent quarter. RB&I drives Net Income increase.
- Retail banking and insurance income up 5% QoQ and 14% vs Q4 23 to €4,064m. Solid control of Opex at these units lead to very positive OpInc growth of 6.8% QoQ and 45% vs Q4 23 to €1,567m. Cost of risk was stable.
- Net revenues at the IB falls €30m to €1,087m, and combined with €60m more cost of risk, underlying income is €71m lower at €333m. Asset & wealth underlying income improve to €217m, up €25m
- CET1 falls by 0.6% in Q4, all due to SGEF and Nagelmackers acquisitions. Retained Earnings added 21bps, but this was offset an increase in RWA's contributing -33bps.
- Issuance in 2025 is expected to be light. €1.7bn of the 2bn tier 2 funding plan is complete. A further €4bn Sr Non-Pref and €3bn Sr Pref is expected.
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FED: US TSY 42D AUCTION: HIGH RATE 4.245%; 47.73% AT HIGH
Jan-07 16:32
- US TSY 42D AUCTION: HIGH RATE 4.245%; 47.73% AT HIGH
- US TSY 42D BILL AUCTION: DEALERS TAKE 42.66% OF COMPETITIVES
- US TSY 42D BILL AUCTION: DIRECTS TAKE 4.49% OF COMPETITIVES
- US TSY 42D BILL AUCTION: INDIRECTS TAKE 52.85% OF COMPETITIVES
- US TSY 42D AUCTION: BID/COVER 2.71
US TSY FUTURES: BLOCK: Mar'25 5Y Sale
Jan-07 16:27
- -5,000 FVH5 105-29.5 (-8), post-time bid at 1120:10ET, DV01 $210,000. The 5Y contract trades 105-29 last (-8.5).
FED: US TSY 42D AUCTION: NON-COMP BIDS $434 MLN FROM $85.000 BLN TOTAL
Jan-07 16:15
- US TSY 42D AUCTION: NON-COMP BIDS $434 MLN FROM $85.000 BLN TOTAL
