11 2022 RESULTS In 2022, the underlying net banking income of the Wealth Management business line amounted to €929 million, up +10.5% compared to 2021 (+7.1% at constant exchange rates), thanks to the strong sales momentum and increase in the interest margin, which offset the unfavourable market effects on the assets. Expenses excluding SRF were up +9.5% (+5.5% at constant exchange rates) to €771 million, mainly related to IT and digital investments, as well as variable remuneration. The scissor effect over 2022 was positive at +1.0 percentage point (+1.5 percentage points at constant exchange rates). Underlying gross operating income increased by 16.1% to €155 million. In all, net income Group share reached €113 million, up 9.5% in 2022 and its highest level in ten years. ASSETS UNDER MANAGEMENT With close to €130 billion in assets under management (on 31/12/2022), Indosuez Wealth Management is among the world's leading wealth management companies. Despite unfavourable market conditions in 2022, the Group posted record net inflows of €4.1 billion. Its solid results reflect the diversification of its activities, the relevance of its strategy and strong sales momentum. Indosuez's value proposition has been strengthened, particularly in the credit, real assets and responsible investment segments. It has supported a growing number of new clients, including ultra-high net worth individuals (UHNWIs). / Key figures / A LOCAL APPROACH AND INTERNATIONAL SUPPORT ASSETS UNDER MANAGEMENT €130 BN ASSET ALLOCATION A diversified asset allocation, reflecting our ambition to protect and grow our clients' wealth. 3.7% Other (including Private Equity) 3.9% Structured products 14.9% Life insurance 15.9% Bonds 14.7% Equities 23.9% Funds 23% Cash assets NBI (€ M) 0 200 400 600 800 1000 2020 819.7 2021 841.3 2022 929.4
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