Bnp Paribas S.a. Class A · EURONEXT:BNP
Bnp Paribas S.a. Class A — Bnp Paribas Ord — Q1 2023 Earnings Presentation
76 slides from Bnp Paribas S.a. Class A's earnings presentation, May 3, 2023
Slide 1: First Quarter 2023 Results
FIRST QUARTER 2023 RESULTS 3 May 2023
Slide 2: Disclaimer
Disclaimer The figures included in this presentation are unaudited. On 2 May 2023, BNP Paribas reported restated quarterly series for 2022 to reflect for each quarter: (i) the application of IFRS 5 relating to disposal groups of assets and liabilities held for sale, following the sale of Bank of the
Slide 3: 1Q23: Very solid results driven by the strength of BNP Paribas' model
1Q23: Very solid results driven by the strength of BNP Paribas’ model Strong growth in revenues supported by all divisions • Increase in Corporate & Institutional Banking (+4.0%) Underlying revenues2: +5.3% vs. 1Q223 • Growth in Commercial, Personal Banking & Services1 (+5.9%) Underlying operating e
Slide 4: A unique positioning: 2023 distributable net income in line with GTS 2025 growth objectives
A unique positioning 2023 distributable net income1 in line with GTS 2025 growth objectives Confirmation of the growth trajectory in 2023 distributable net income1, as announced in February 2023 Distributable net income reflecting the Group’s €bn +€1bn intrinsic performance: €2,845m in 1Q231 > Antic
Slide 5: Continuous and strong value creation throughout the cycle
Continuous and strong value creation throughout the cycle €5bn in share buyback programmes planned in 2023 of which €4bn with the objective of compensating the dilution related to the sale of Bank of the West • 1st €2.5bn tranche launched on 31.03.232 • 2nd €2.5bn tranche planned for 2H233 Ordinary
Slide 6: GTS 2025 plan: Confirmation of 2025 ambitions
GTS 2025 plan Confirmation of 2025 ambitions Growth potential confirmed Redeployment of capital released by the sale of Combined with the positive impact of the rise Bank of the West in interest rates in 2022 (~€7.6bn, or ~110 bp of CET11) ~+€3.0bn (C/I ~60% and ROTE6 ~12%) >+€2.0bn (~80% benefiting
Slide 7: Group Results
GROUP RESULTS DIVISION RESULTS CONCLUSION 1Q23 DETAILED RESULTS APPENDICES
Slide 8: Main exceptional and extraordinary items – 1Q23
Main exceptional and extraordinary items – 1Q23 1Q23 1Q22 Exceptional items Operating expenses • Overall adaptation costs related to Personal Finance (Corporate Centre) -€236m • Restructuring costs and adaptation costs (Corporate Centre) -€30m -€26m • IT reinforcement costs (Corporate Centre) -€95m
Slide 9: 1Q23 – Consolidated Group
1Q23 – Consolidated Group 1Q23 distributable income reflecting the Group’s intrinsic performance 1Q23 1Q22 1Q23 Variation (distributable3) (restated4) (reported) Revenues1 €12,492m €11,868m +5.3% €12,032m Operating expenses1 -€8,294m -€8,754m -5.3% -€9,191m Underlying operating expenses2 -€7,154m -€
Slide 10: 1Q23 – Revenues
1Q23 – Revenues Revenue growth in all divisions CIB Corporate & Institutional Commercial, Personal Banking Investment & Protection Operating divisions Banking & Services1 Services +4.0% +5.9% +0.6% +4.4% Commercial & Personal Banking 1 Specialised +6.8% Businesses 4,685 4,873 +4.5% 1Q22 3,891 4,154
Slide 11: 1Q23 – Operating expenses
1Q23 – Operating expenses Positive jaws effects in operating divisions globally CIB Corporate & Institutional Commercial, Personal Banking Investment & Protection Operating divisions Banking & Services1 Services +3.1% +4.7% +5.4% +4.1% Commercial & Personal Banking 1 +3.3% Specialised Businesses 1Q2
Slide 12: A prudent and diversified risk profile
A prudent and diversified risk profile Proactive and long-term management reflected in a Prudent approach: CoR / GOI ratio among the low cost of risk lowest in Europe2 in bps / customer loans outstanding1 2009 – 2022 average 66 58 59 57 Guidance 65% 54 46 2022-2025 39 39 40 <40 44% 35 34 34 38% 39%
Slide 13: Cost of risk – 1Q23 (1/2)
Cost of risk – 1Q23 (1/2) Cost of risk / Customer loans outstanding at the beginning of the period (in bps) Group1 • Cost of risk: €642m (-€55m vs. 4Q22; -€9m vs. 1Q22) 66 2 • Cost of risk at a very low level 34 34 31 34 31 30 28 • Provisions on non-performing loans (stage 3) at a low level • Releas
Slide 14: Cost of risk – 1Q23 (2/2)
Cost of risk – 1Q23 (2/2) Cost of risk vs. Customer loans outstanding at the beginning of the period (in bps) CPBB1 • Cost of risk: €8m (-€12m vs. 4Q22; +€26m vs. 1Q22) • Cost of risk at a low level with the releases of provisions on 19 8 3 5 5 6 2 non-performing loans (stage 3) -6 2020 2021 2022 1Q
Slide 15: 2023 – A solid financial structure
2023 – A solid financial structure CET1 ratio: 13.6%1 at 31.03.23 (+130 bps vs. 31.12.22) CET1 ratio1 Closing of the sale of Bank of the West on 01.02.23: +170 bps 13.6% 1Q23 results after taking into account a 60% payout ratio, net of changes 12.3% in risk-weighted assets: +0 bp Effect of the
Slide 16: Liquidity: a diversified base of deposits and disciplined management
Liquidity: a diversified base of deposits and disciplined, prudent and proactive management Favourable positioning and integrated & diversified model supporting stability of resources Base of deposits supported by the Group’s diversification, its Change in HQLA (€bn) long-term approach to clients, a
Slide 17: Constant and sustained value creation throughout the cycle
Constant and sustained value creation throughout the cycle Steady increase in tangible equity per share: €84.8 +€4.7 (+5.9%) vs. 31.03.22 92.2 Net book value per share (revaluated) in € 88.1 89.0 82.3 7.4 2008-1Q23 CAGR1: +5.0% 79.0 9.4 9.7 73.9 75.1 74.7 9.1 84.8 70.9 9.3 78.7 79.3 63.1 65.0 66.6 1
Slide 18: Sustainable finance
Sustainable finance Group mobilisation and external recognition Mobilised alongside clients to support them in the transition towards a sustainable economy and to align portfolios with the commitment to carbon neutrality Sustainable loans to Corporates, Institutionals & Individuals €94.9bn 2025 targ
Slide 19: Social responsibility
Social responsibility Developing employee’s potential and commitment in 2022 based on the People Strategy 2025 Diversity and Inclusion Human capital External recognition % of women Launch of the Sustainability Only bank among the among SMPs1 35.2% Academy: a set of initiatives to Top 10 employers in
Slide 20: A reinforced Internal Control Set-up
A reinforced Internal Control Set-up An even more solid control and compliance set-up and ongoing efforts in inserting a reinforced compliance culture into daily operations • Ongoing improvement of the operating model for combating money laundering and terrorism financing: A standards-based, risk-
Slide 21: Division Results
GROUP RESULTS DIVISION RESULTS CONCLUSION 1Q23 DETAILED RESULTS APPENDICES
Slide 22: Corporate & Institutional Banking – 1Q23
Corporate & Institutional Banking – 1Q23 Increase in results sustained by strong client activity in all business lines Very good business drive, leveraging a diversified and integrated Growth in revenues model €bn • Financing: very good business activity, in particular in bond issuance • Markets: ve
Slide 23: CIB – Global Banking – 1Q23
CIB – Global Banking – 1Q23 Very good business momentum and strong increase in revenues Very good level of activity in an overall more favourable Continued growth in revenues environment €m • Very good momentum in activity, in particular with a strong rebound in EMEA 1,455 bond markets1 (+92% vs. 4Q
Slide 24: CIB – Global Markets – 1Q23
CIB – Global Markets – 1Q23 Very strong commercial activity and continued high revenues Very robust client activity on the whole Revenues trend • Fixed income, currencies & commodities: very strong client 2,814 €m 2,764 demand, in particular on rates and foreign exchange products • Equity markets: o
Slide 25: CIB – Securities Services – 1Q23
CIB – Securities Services – 1Q23 Robust activity and strong increase in revenues Very good business drive supported by a diversified Transaction volumes model Settlement & delivery transactions in millions • Sustained sales & marketing development in particular with new mandates in EMEA • Launch of
Slide 26: Commercial, Personal Banking & Services – 1Q23
Commercial, Personal Banking & Services – 1Q23 Strong increase in results and positive jaws effect Good business drive Loans • Loans: +4.4% vs. 1Q22 (+9.6% vs. 1Q21), increase in Commercial & Personal €bn +9.6% Banking and Specialised Businesses • Arval: very good increase in the financed fleet (+8.
Slide 27: CPBS – Commercial & Personal Banking in France – 1Q23
CPBS – Commercial & Personal Banking in France – 1Q23 Increase in results and positive jaws effect Strong business drive Loans • Loans: +4.7% vs. 1Q22, increase across all customer segments; selectivity €bn +4.7% maintained in mortgage loans and gradual improvement in margins • Deposits: +1.0% vs. 1
Slide 28: CPBS – BNL banca commerciale – 1Q23
CPBS – BNL banca commerciale – 1Q23 Increase in results and improvement in the risk profile Business activity Deposits • Loans: -1.8% vs. 1Q22, +0.2% on the perimeter excluding non-performing +1.1% loans, growth supported by mid- and long-term loans across all segments • Deposits: +1.1% vs. 1Q22, in
Slide 29: CPBS – Commercial & Personal Banking in Belgium – 1Q23
CPBS – Commercial & Personal Banking in Belgium – 1Q23 Strong increase in results and largely positive jaws effect Good business drive Loans • Loans: +6.0% vs. 1Q22, increase in loans to individuals and corporates +6.0% • Deposits: -0.4% vs. 1Q22, increase in deposits of individual and Private Banki
Slide 30: CPBS – Europe Mediterranean – 1Q23
CPBS – Europe Mediterranean – 1Q23 Good business drive Commercial activity Loans1 • Loans: +6.6%1 vs. 1Q22, increased volumes in corporate clients, +6.6%1 particularly in Poland – prudent and targeted origination, particularly in Türkiye and for individual customers in Poland • Deposits: +13.8%1 vs.
Slide 31: CPBS – Specialised Businesses – Personal Finance – 1Q23
CPBS – Specialised Businesses – Personal Finance – 1Q23 Further transformation and adaptation of activities Growth in outstandings and implementation of partnerships Loans • Loans: +4.7% vs. 1Q22, increase across all segments; pressure on €bn +4.7% margins at production • Ongoing implementation of s
Slide 32: CPBS – Specialised Businesses – Arval & Leasing Solutions – 1Q23
CPBS – Specialised Businesses – Arval & Leasing Solutions – 1Q23 Very strong performance and positive jaws effect Arval Arval: growth in the financed fleet2 • Very good growth in the financed fleet (+8.8%1 vs. 31.03.22) and CAGR 19-23 continued very high used car prices millions of vehicles +7.3%2 •
Slide 33: CPBS – New Digital Businesses & Personal Investors – 1Q23
CPBS – Specialised Businesses – New Digital Businesses & Personal Investors - 1Q23 Client acquisition engines , a payment offering accessible to everyone Nickel: expansion in Europe • Ongoing roll-out in Europe and continued strong pace of account openings (~57,000 / month in 1Q23, ~49,000 / month i
Slide 34: Investment & Protection Services – 1Q23
Investment & Protection Services – 1Q23 Good level of business drive Business momentum sustained in particular by net asset inflows Assets under management1 • Strong net asset inflows (+€19.4bn in 1Q23), particularly in Wealth Management and Asset Management €bn +4.7% • Good drive of the Insurance b
Slide 35: IPS – Asset inflows and AuM – 1Q23
IPS – Asset inflows and AuM – 1Q23 Strong net asset inflows, particularly in money-market funds Assets under management: €1,213bn as at Change in assets under management1 31.03.23 €bn • Market performance effect: +€27.1bn Market +19.4 effect Total • Net asset inflows: +€19.4bn, very good asset inflo
Slide 36: IPS – Insurance – 1Q23
IPS – Insurance – 1Q23 Good start in 2023 under the new IFRS 17 standard Business activity A balanced model • Savings: gross asset inflows of €6.2bn in 1Q23, driven by a good business drive in France in particular in unit-linked policies Protection: Savings: 46% 54% • Protection: good momentum in af
Slide 37: IPS – Wealth & Asset Management – 1Q23
IPS – Wealth & Asset Management1 – 1Q23 Solid net asset inflows Wealth Management Private Banking: acknowledged • Strong net asset inflows (€5.6bn in 1Q23) especially in leadership Commercial & Personal Banking in France, Italy and Belgium 16 Euromoney 2023 Awards, including: and internationally wit
Slide 38: Conclusion
GROUP RESULTS DIVISION RESULTS CONCLUSION 1Q23 DETAILED RESULTS APPENDICES
Slide 39: Conclusion
Conclusion A solid intrinsic performance reflected by the distributable net income Distributable Net Income: €2,845m Confirmation of a trajectory of strong growth in 2023 distributable EPS above the plan’s objective (CAGR 22-25 >+12%) Leadership affirmed in financing the energy transition Strong mob
Slide 40: 1Q23 Detailed Results
GROUP RESULTS DIVISION RESULTS CONCLUSION 1Q23 DETAILED RESULTS APPENDICES
Slide 41: 1Q23 – BNP Paribas Group: Organic growth supported by division performance
1Q23 – BNP Paribas Group Organic growth supported by the performance of the divisions 1Q23 Organic growth offsets the effect of the sale of Bank of the West m€ Net Income, Group share 1Q23 reported 4,435 Exceptional costs ‐269 Adjustment of hedges related to changes in the TLTRO's terms & conditions
Slide 42: 1Q23 – Effects of 1Q22 restatement
1Q23 - BNP Paribas Group Effects of 1Q22 restatement 1Q22 restatement1 : negative base effects in net income offset in 2023 • Alignment of management data with the application of IFRS 5 standard as a consequence of the sale of Bank of the West -€378m impact on the 1Q22 pre-tax income : impact offs
Slide 43: 1Q23 – BNP Paribas Group
1Q23 – BNP Paribas Group Based on 2022 restated quarterly series and 1Q23 reported results 1Q23 Distribuable 1Q23 / 1Q22 distribuable / 1Q23 1Q22 1Q23 / 1Q22 1Q23 1Q22 1Q23 1Q22 €m 1Q22 1 (excl. exceptional & extraordinairy items ) Group Revenues 12,492 11,868 +5.3% 12,032 11,868 +1.4% 12,435 11,868
Slide 44: Calculation of distributable Net Income – 1Q23
Calculation of distributable Net Income – 1Q23 Reminder: capital gain on the sale of Bank of the West (€2,947m), an extraordinary item excluded from distributable Net Income A +€954m upward adjustment in Revenues distributable net income in 1Q23 • Complementary contribution1 +€57m • Effect of the an
Slide 45: Corporate and Institutional Banking – 1Q23
Corporate and Institutional Banking – 1Q23 1Q23 1Q22 1Q23 / €m 1Q22 Corporate and Institutional Banking Revenues 4,873 4,685 +4.0% Operating Expenses and Dep. -3,440 -3,338 +3.1% Gross Operating Income 1,433 1,347 +6.3% Cost of Risk -1 -2 -47.8% Operating Income 1,432 1,346 +6.4% Share of Earnings o
Slide 46: CIB Global Banking & Global Markets – 1Q23
Corporate and Institutional Banking Global Banking & Global Markets – 1Q23 1Q23 1Q22 1Q23 / €m 1Q22 Global Banking Revenues 1,455 1,258 +15.6% Operating Expenses and Dep. -849 -805 +5.5% Gross Operating Income 605 453 +33.6% Cost of Risk 1 20 -92.6% Operating Income 607 473 +28.3% Share of Earnings
Slide 47: CIB Market risks – 1Q23
Corporate and Institutional Banking Market risks – 1Q23 Average 99% 1-day interval VaR (Value at Risk) €m Average VaR was stable at a low level this quarter, despite greater volatility late in the quarter1 • Low and stable vs. 4Q22 • 1 theoretical back-testing event this quarter2, due to a spike in
Slide 48: CIB Securities Services – 1Q23
Corporate and Institutional Banking Securities Services – 1Q23 1Q23 1Q22 1Q23 / €m 1Q22 Securities Services Revenues 655 613 +6.7% Operating Expenses and Dep. -575 -538 +6.9% Gross Operating Income 79 75 +5.8% Cost of Risk 1 0 n.s. Operating Income 81 75 +7.4% Share of Earnings of Equity-Method Enti
Slide 49: Commercial, Personal Banking & Services – 1Q23
Commercial, Personal Banking & Services – 1Q23 1Q23 1Q22 1Q23 / €m 1Q22 1 Commercial, Personal Banking & Services - excl. PEL/CEL (including 100% of Private Banking) Revenues 6,666 6,296 +5.9% Operating Expenses and Dep. -4,585 -4,380 +4.7% Gross Operating Income 2,081 1,916 +8.6% Cost of Risk -650
Slide 50: CPBS – Commercial & Personal Banking in France – 1Q23
CPBS – Commercial & Personal Banking in France – 1Q23 1Q23 1Q22 1Q23 / 1Q23 %Var/1Q22 %Var/4Q22 €m 1Q22 Average outstandings (€bn) Commercial & Personal Banking in France - excl. PEL/CEL (including 100% of Private Banking) 1 LOANS 212.4 +4.7% -0.5% Revenues 1,670 1,602 +4.2% Individual Customers 111
Slide 51: CPBS – BNL banca commerciale – 1Q23
CPBS – BNL banca commerciale – 1Q23 1Q23 1Q22 1Q23 / 1Q23 %Var/1Q22 %Var/4Q22 €m 1Q22 Average outstandings (€bn) 1 LOANS 77.2 -1.8% -2.0% BNL bc (including 100% of Private Banking) Revenues 675 654 +3.2% Individual Customers 38.3 +1.2% -1.0% incl. net interest income 392 380 +3.0% Incl. Mortgages 27
Slide 52: CPBS – Commercial & Personal Banking in Belgium – 1Q23
CPBS – Commercial & Personal Banking in Belgium – 1Q23 1Q23 1Q22 1Q23 / 1Q23 %Var/1Q22 %Var/4Q22 €m 1Q22 Average outstandings (€bn) 1 Commercial & Personal Banking in Belgium (including 100% of Private Banking) LOANS 138.4 +6.0% +0.0% Revenues 1,016 935 +8.6% Individual Customers 77.9 +4.3% +0.0% in
Slide 53: CPBS – Commercial & Personal Banking in Luxembourg – 1Q23
CPBS – Commercial & Personal Banking in Luxembourg – 1Q23 1Q23 1Q22 1Q23 / 1Q23 %Var/1Q22 %Var/4Q22 Average outstandings (€bn) €m 1Q22 1 LOANS 13.2 +3.8% +1.0% Commercial & Personal Banking in Luxembourg (including 100% of Private Banking) Revenues 145 115 +26.6% Individual Customers 8.2 +2.9% +0.3%
Slide 54: CPBS – Europe-Mediterranean – 1Q23
CPBS – Europe-Mediterranean – 1Q23 1Q23 1Q22 1Q23 / €m 1Q22 1 Europe-Mediterranean (including 100% of Private Banking) Revenues 648 585 +10.7% incl. net interest income 540 465 +16.0% incl. fees 108 120 -9.7% Operating Expenses and Dep. -435 -428 +1.6% Gross Operating Income 212 156 +35.8% Cost of R
Slide 55: CPBS – Europe-Mediterranean – Volumes and risks
CPBS – Europe-Mediterranean – 1Q23 Volumes and risks Geographical breakdown in %Var/1Q22 %Var/4Q22 loans outstanding in 1Q231 at constant at constant scope and scope and Türkiye 25% 1Q23 historical historical exchange exchange Average outstandings (€bn) rates rates n.s. n.s. n.s. n.s. Poland 56% LOA
Slide 56: CPBS – Personal Finance – 1Q23
CPBS – Specialised Businesses – Personal Finance – 1Q23 1Q23 1Q22 1Q23 / €m 1Q22 Personal Finance %Var/1Q22 %Var/4Q22 Revenues 1,288 1,388 -7.2% Operating Expenses and Dep. -810 -776 +4.5% at constant at constant Gross Operating Income 477 613 -22.1% scope and scope and 1Q23 historical historical Co
Slide 57: CPBS – Arval & Leasing Solutions – New Digital Businesses
CPBS – Specialised Businesses – 1Q23 Arval & Leasing Solutions – New Digital Businesses 1Q23 1Q22 1Q23 / 1Q23 1Q22 1Q23 / €m 1Q22 €m 1Q22 1 Arval & Leasing Solutions New Digital Businesses & Personal Investors (including 100% of Private Banking) Revenues 982 812 +20.9% Revenues 243 205 +18.5% Operat
Slide 58: CPBS – Arval & Leasing Solutions and Personal Investors
CPBS – Specialised Businesses – 1Q23 Arval & Leasing Solutions and Personal Investors Arval %Var/1Q22 %Var/4Q22 at constant at constant 1Q23 scope and scope and historical historical exchange exchange Average outstandings (€b n) rates rates Consolidated Outstandings 29.9 +16.9% +14.3% +6.1% +5.9% Fi
Slide 59: Investment & Protection Services – 1Q23
Investment & Protection Services – 1Q23 %Var/ %Var/ 31.03.23 31.03.22 31.12.22 1Q23 1Q22 1Q23 / €bn 31.03.22 31.12.22 €m 1Q22 Assets under management (€bn) 1,213.1 1,226.7 -1.1% 1,171.7 +3.5% Insurance 251.4 270.4 -7.0% 246.6 +2.0% Investment & Protection Services Wealth Management 406.3 403.2 +0.8%
Slide 60: IPS – Insurance – 1Q23
IPS – Insurance – 1Q23 1Q23 1Q22 1Q23 / €m 1Q22 Insurance Revenues 524 490 +6.9% Operating Expenses and Dep. -202 -197 +2.7% Gross Operating Income 322 294 +9.7% Cost of Risk 0 0 n.s. Operating Income 322 294 +9.7% Share of Earnings of Equity-Method Entities 59 29 n.s. Other Non Operating Items 0 -3
Slide 61: IPS – Wealth & Asset Management – 1Q23
IPS – Wealth & Asset Management – 1Q23 1Q23 1Q22 1Q23 / €m 1Q22 Wealth and Asset Management Revenues 885 910 -2.7% Operating Expenses and Dep. -695 -655 +6.2% Gross Operating Income 190 255 -25.7% Cost of Risk -1 -7 -83.9% Operating Income 189 249 -24.1% Share of Earnings of Equity-Method Entities 9
Slide 62: 1Q23 – Corporate Centre: Restatements related to insurance
1Q23 – Corporate Centre Restatements of the volatility and attributable operating expenses related to insurance As of 01.01.23, Corporate Centre includes 2 restatements related to the application of IFRS 17, alongside the implementation of IFRS 9 for insurance activities1. For a better readability,
Slide 63: 1Q23 – Corporate Centre: Excluding restatements
1Q23 - Corporate Centre Excluding the restatements related to insurance activities 1Q23 1Q22 1Q23 / €m 1Q22 Corporate Center excl. restatement related to insurance activities of the volatility (IFRS9) and attribuable costs (internal distributors) Revenues -478 52 n.s. Operating Expenses and Dep. -62
Slide 64: Breakdown in taxes and contributions subject to IFRIC 21 – 1Q23
Breakdown in taxes and contributions subject to IFRIC 21 – 1Q23 In millions of euros (Application of IFRS 17) 1Q22 1Q23 Corporate & Institutional Banking -737 -752 Global Banking -165 -169 Global Markets -514 -525 Securities Services -57 -59 Commercial, Personal Banking and Services -751 -758 Commer
Slide 65: Focus: Commercial real estate and leveraged financing
Focus: Commercial real estate and leveraged financing Favourable diversification and positioning by geographical region and sector Highly selective at the origination stage and proactive management of portfolios and exposures Exposures following the sale of Bank of the West on 01.02.23 Leveraged fin
Slide 66: Appendices
GROUP RESULTS DIVISION RESULTS CONCLUSION 1Q23 DETAILED RESULTS APPENDICES
Slide 67: Number of Shares and Earnings per Share
Number of Shares and Earnings per Share Number of Shares in millions 31-Mar-23 31-Mar-22 Number of Shares (end of period) 1 234 1 234 Number of Shares excluding T reasury Shares (end of period) 1 232 1 233 Average number of Shares outstanding excluding T reasury Shares 1 233 1 233 Distributable Earn
Slide 68: Book value per Share
Book value per Share Book value per Share in millions of euros 31-Mar-23 31-Mar-22 Shareholders' Equity Group share 127,145 119,050 (1) Changes in assets and liabilities recognised directly in equity (valuation reserve) -3,199 353 Undated Super Subordinated Notes 13,471 8,624 (2) Remuneration net of
Slide 69: Return on Equity and Permanent Shareholders' Equity (1/2)
Return on Equity and Permanent Shareholders’ Equity (1/2) Permanent Shareholders’ Equity Group share, not revaluated, used for the calculation of ROE / ROTE (based on reported results) in millions of euros 31-Mar-23 31-Mar-22 Net Book Value 113,561 110,382 (1) of which changes in assets and liabilit
Slide 70: Return on Equity and Permanent Shareholders' Equity (2/2)
Return on Equity and Permanent Shareholders’ Equity (2/2) Calculation of Return on Equity (based on reported results) in millions of euros 31-Mar-23 31-Mar-22 Net income Group share 4,435 2,108 (1) Exceptional and extraordinary items (after tax) (a) 2,383 -43 (2) of which exceptional and extraordina
Slide 71: A Solid Financial Structure
A Solid Financial Structure Doubtful loans/gross outstandings 31-Mar-23 31-Mar-22 Doubtful loans (a) / Loans (b) 1.7% 1.9% (a) Impaired loans (stage 3) to customers and credit institutions, not netted of guarantees, including on-balance sheet and off-balance sheet and debt securities measured at amo
Slide 72: Common Equity Tier 1 ratio
Common Equity Tier 1 ratio Basel 3 Common Equity Tier 1 ratio1 (Accounting capital to prudential capital reconciliation) €bn 31-Mar-23 31-Dec-22 Consolidated Equity 132.0 126.6 Undated super subordinated notes -13.5 -11.8 2022 net income distribution project -5.8 -5.8 2023 net income distribution pr
Slide 73: Medium/Long Term Regulatory Funding
Medium/Long Term Regulatory Funding Continued presence in debt markets Around 58% of the regulatory issuance plan realised as at 13 April 2023 2023 MLT regulatory issuance plan1: €18.5bn • Capital instruments: €3.5bn1 ; AT1 €2.7bn already issued2 • Senior Debt: €15bn1: • AT1: Non-Preferred: €3.4bn a
Slide 74: TLAC ratio: ~700bps above the requirement
TLAC ratio: ~700bps above the requirement without calling on the preferred Senior debt allowance as at 31 March 2023 29.2% TLAC requirement as at 31.03.23: 22.21% of RWA 22.21% BNP Paribas • Including capital conservation buffer, G-SIB buffer, countercyclical TLAC ratio as capital buffer (14 bps) an
Slide 75: Distance to MDA restrictions as at 31 March 2023
Distance to MDA restrictions as at 31 March 2023 Capital requirements as at 31.03.231: Capital and leverage requirements as at 31.03.231 CET1: 9.60% Pillar 1 Tier 1: 11.39% P2R Total Capital: 13.78% Conservation buffer G-SIB buffer Countercyclical buffer and systemic buffer Leverage requiremen
Slide 76: Basel 3 Risk-Weighted Assets
Basel 3 Risk-Weighted Assets1 Basel 31 assets by business Corporate Centre IPS Specialised Businesses 6% (CPBS) €694bn as at 31.03.23 (€745bn as at 31.12.22) 6% 16% Commercial & €bn 31.03.23 31.12.22 35% Personal 37% Banking CIB (CPBS) Credit risk 534 580 Operational Risk 58 62 Counterparty Risk 42