Boursorama Group's Estimated Results for Third-Quarter 2013

Regulatory News:

Boursorama Group (Paris:BRS) will report the third quarter results 2013 on 6 November, 2013.

Boursorama Group will record exceptional impairments of goodwill and other intangible assets related to Selftrade (United Kingdom) and OnVista (Germany) of approximately -63 million euros for third-quarter 2013 (around 2/3 on Selftrade and 1/3 on OnVista). These impairments can be explained by the combination of several factors:

• A more demanding compliance framework requires additional investments, particularly in the Finance and Risk services. Also, regulatory changes in the United Kingdom have induced new rules for managing client money deposits, leading thus to reduced net interest margin.
• For Selftrade specifically, a delayed IT migration in third-quarter 2013 generates additional costs.
• Lastly, the anticipated growth in the retail brokerage market has not materialised in the relevant countries, as measured by the number of orders executed. As Selftrade and OnVista generate a significant part of their net banking income from this activity, the planned business growth assumptions have been revised downward.

These depreciations of intangible assets have no impact on Boursorama's solvency (Tier 1 ratio of 36.8% in second-quarter 2013).

In its French business, which represents 80% of the Group's NBI, the Group continues to see strong momentum: during the third quarter, more than 21,000 current accounts were opened (up 64% compared with Q3 2012) and the housing loan production has reached nearly 250 million euros (up 85% compared with Q3 2012).

Overall, the Group share of net income, for third quarter 2013, is expected to represent a loss of -57 million euros (including approximately -63 million euros in exceptional items).

About Boursorama

With more than 640,000 customers, 1,040,801 direct accounts, and total assets under management of 16.4bn euros at the end of 2012, Boursorama, part of the Société Générale Group, is a major player in online banking in Europe.
In France, Boursorama is the online bank of reference: more than 425,000 customers, at the end of 2012, rely on its innovative, simple, inexpensive, secure bank offering. Its portal, www.boursorama.com, is France's leading financial and economic online information website.
Boursorama is also active in the United Kingdom and in Spain in online banking, under the respective brands of Selftrade and Self Bank. In Germany, Boursorama is a major player in brokerage and in financial and economic online information, through its brand OnVista.
Boursorama is listed on NYSE Euronext Paris – compartment B – ISIN: FR0000075228 (BRS) – Reuters: FMTX.LN – Bloomberg BRS FP.
For all Boursorama news, go to: http://groupe.boursorama.fr