Bnp Paribas S.a. Class A · EURONEXT:BNP
Bnp Paribas S.a. Class A — Bnp Paribas Ord — Q1 2022 Earnings Presentation
85 slides from Bnp Paribas S.a. Class A's earnings presentation, May 3, 2022
Slide 1: 2022 First Quarter Results
2022 FIRST QUARTER RESULTS 3 May 2022
Slide 2: Disclaimer
Disclaimer The figures included in this presentation are unaudited. This presentation includes forward-looking statements based on current beliefs and expectations about future events. Forward-looking statements include financial projections and estimates and their underlying assumptions, statements
Slide 3: 1Q22: Solid results and positive jaws effects
1Q22: Solid results and positive jaws effects Very strong growth in revenues • Outperformance by Corporate & Institutional Banking (+28.1%) Operating divisions • Strong growth in Commercial, Personal Banking & Services1 (+8.5%) Revenues: +13.5% vs. 1Q21 Costs: +9.4% vs. 1Q21 • Good resilience by Inv
Slide 4: BNP Paribas' distinctive model supporting a solid trajectory in 2022
BNP Paribas’ distinctive model is already supporting a solid trajectory in 2022 A diversified and integrated model generating growth greater than the underlying economy Favourably positioned, with a balanced breakdown in revenues Group 1Q19-1Q22 CAGR revenues +5.9% CIB: 31%; Commercial & Personal Ba
Slide 5: Positive jaws effects and investment capacity
Positive jaws effects and investment capacity Development at marginal cost & Target: 21-25 average jaws effect >+2pts3, effect of operating efficiency measures positive each year and in all operating divisions Levers identified to generate €2bn in recurring Steady growth in GOI1 … cost savings ~2.0
Slide 6: GTS 2025 strategic plan: 2022-2025 Group objectives confirmed
GTS 2025 strategic plan 2022-2025 Group objectives confirmed1 2024: 12.9% Net income2: Basel 3 (CRR2) fully loaded CAGR >+7% CET1 2025: 12.0% Basel 3 finalised (CRR3) fully loaded Revenues CAGR Average jaws Cost of risk ROTE 2024: ~11% >+3.5% effect: >+2.0 pts3, ~40 bps 2025: >11% positive every yea
Slide 7: Group Results
GROUP RESULTS DIVISION RESULTS CONCLUSION 1Q22 DETAILED RESULTS APPENDICES
Slide 8: 1Q22 – Main exceptional items and IFRIC 21 impact
1Q22 – Main exceptional items and IFRIC 21 impact Strong decrease in exceptional items; significant increase in taxes subject to IFRIC 21 Exceptional items 1Q22 1Q21 Operating expenses • Restructuring costs1 and adaptation costs2 (Corporate Centre) -€26m -€58m • IT reinforcement costs (Corporate Cen
Slide 9: 1Q22 – Consolidated Group
1Q22 – Consolidated Group Solid results – Positive jaws effect excluding taxes subject to IFRIC 21 1Q22 1Q22 / 1Q21 1Q22 1Q21 / 1Q21 Operating divisions Revenues €13,218m €11,829m +11.7% +13.5% Operating expenses -€9,653m -€8,597m +12.3% +9.4% Op. expenses excluding taxes subject to IFRIC 211 -€7,82
Slide 10: 1Q22 – Revenues
1Q22 – Revenues Very solid growth driven by a diversified model CIB Corporate & Institutional Commercial, Personal Banking Investment & Protection Operating divisions Banking & Services1 Services +28.1% +23.6% +8.5% +8.1% -0.2% +0.8% +13.5% +12.1% at constant scope & at constant scope & at constant
Slide 11: 1Q22 – Operating expenses
1Q22 – Operating expenses Positive jaws effect in operating divisions CIB Corporate & Institutional Commercial, Personal Banking Investment & Protection Operating divisions Banking & Services1 Services +18.3% +13.3% +5.2% +4.7% +3.6% +3.9% +9.4% +7.5% at constant scope & at constant scope & at const
Slide 12: Group cost of risk
Group cost of risk Cost of risk / Customer loans outstanding at the beginning of the period (in annualised bps) Group • Cost of risk: €456m (-€54m vs. 4Q21; -€440m vs. 1Q21) 66 • Cost of risk at a very low level 35 39 34 42 38 32 23 • Release of provisions on performing loans (stages 1 & 2) mainly d
Slide 13: Cost of risk by Business Unit (1/2)
Cost of risk by Business Unit (1/2) Cost of risk / Customer loans outstanding at the beginning of the period (in annualised bps) CIB - Global Banking 80 51 • Cost of risk: -€20m (+€52m vs. 4Q21; -€205m vs. 1Q21) 15 13 17 • Release of provisions on performing loans (stages 1 & 2) 6 and cost of risk o
Slide 14: Cost of risk by Business Unit (2/2)
Cost of risk by Business Unit (2/2) Cost of risk / Customer loans outstanding at the beginning of the period (in annualised bps) Personal Finance 212 • Cost of risk: €315m (-€31m vs. 4Q21; -€6m vs. 1Q21) 145 141 138 147 130 150 134 • Low cost of risk – provisions on performing loans (stages 1 & 2) o
Slide 15: A very solid financial structure
A very solid financial structure CET1 ratio: 12.4%1 as at 31.03.22 CET1 ratio • 1Q22 results, after taking into account a 60% pay-out ratio net of organic growth in risk-weighted assets: 0 bp 12.9% 12.4% • Effect of the acceleration in growth and bolt-on acquisitions2 on risk- weighted assets: -10 b
Slide 16: Continuous and strong value creation throughout the cycle
Continuous and strong value creation throughout the cycle Steady increase in tangible equity per share: €80.1 +€5.6 (+7.5%) vs. 31.03.21 € 88.0 89.5 82.3 2008-1Q22 CAGR1: +5.2% 79.0 9.4 9.5 73.9 75.1 74.7 9.1 70.9 9.3 78.7 80.1 65.0 66.6 10.6 10.0 9.9 63.1 69.7 73.2 10.7 55.6 57.1 10.0 10.9 65.1 64.
Slide 17: An ambitious policy of engaging with society: mobilising around social challenges
An ambitious policy of engaging with society Mobilising around social challenges The Group engages in an exceptional manner to support actions towards Ukraine: • €14.5m in donations to our long-standing NGO partners (HCR, the Red Cross, and Doctors without Borders) and to associations in France, Pol
Slide 18: Supporting clients in the energy and environmental transition
An ambitious policy of engaging with society Supporting clients in the energy and environmental transition In the environment, the Group’s priorities include: • Financing the energy transition through support for renewable energies, energy efficiency, sustainable mobility, and low-carbon hydrogen •
Slide 19: 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 combatting money laundering and terrorism financing: A standards-based, risk
Slide 20: Division Results
GROUP RESULTS DIVISION RESULTS CONCLUSION 1Q22 DETAILED RESULTS APPENDICES
Slide 21: Corporate & Institutional Banking – 1Q22
Corporate & Institutional Banking – 1Q22 Very sharp rise in results, driven by client activity Good business drive and leveraging on diversification… Revenues • Financing: good performance on primary markets (syndicated loans, bonds and +28.1% €bn equities) less buoyant than in previous years • Mark
Slide 22: CIB – Global Banking – 1Q22
CIB – Global Banking – 1Q22 Very good business drive A strong level of activity in a less buoyant context this quarter Continued growth in revenues • Strong resiliency in volumes led globally in syndicated loans, bonds and equities (-15% vs. 1Q21) on a less active market (-25% vs. a high 1Q21 €m bas
Slide 23: CIB – Global Markets – 1Q22
CIB – Global Markets – 1Q22 Strong increase in revenues and new dimension to the set-up Very robust client activity on the whole Revenues trend • Fixed income, currencies & commodities: very strong client demand, 2,821 €m driven in particular by reallocation as well as hedging needs in rates, +52.8%
Slide 24: CIB – Securities Services – 1Q22
CIB – Securities Services – 1Q22 Strong business drive and steady growth of the platform Very good business drive Assets under custody (AuC) • Renewal of partnership with Caisse des Dépôts Group in and under administration (AuA) France End of period in €000bn • Major new mandates won in all regions
Slide 25: Commercial, Personal Banking & Services – 1Q22
Commercial, Personal Banking & Services – 1Q22 Very sustained growth and positive jaws effect Very strong momentum at Commercial & Personal Banking Loans • Very sustained increase in revenues at Commercial & Personal Banking in the Euro zone (+6.5% vs. 1Q21), particularly in France, Belgium & +4.8%
Slide 26: CPBS – Commercial & Personal Banking in France – 1Q22
CPBS – Commercial & Personal Banking in France – 1Q22 Very strong increase in results – Gains in all client segments Strong business drive Loans • Loans: +2.4% vs. 1Q21, good level of production in mortgage loans and good +2.4% momentum in consumer and corporate loans • Deposits: +6.3% vs. 1Q21, inc
Slide 27: CPBS – BNL banca commerciale – 1Q22
CPBS – BNL banca commerciale – 1Q22 Strong business drive Growth in business activity Loans (excluding non • Loans: +2.1% vs. 1Q21, +4.4% on the perimeter excluding non-performing performing loans) loans; good growth in mortgage and corporate loans +4.4% • Deposits: +8.5% vs. 1Q21, strong growth in
Slide 28: CPBS – Commercial & Personal Banking in Belgium – 1Q22
CPBS – Commercial & Personal Banking in Belgium – 1Q22 Commercial activity up and positive jaws effect Good business drive and consolidation of bpost bank, effective 01.01.22 Loans4 • Loans: +13.5% vs. 1Q21 (+6.4% at constant scope), increase in loans to +13.5% €bn individuals, mortgage loans in par
Slide 29: CPBS – Europe-Mediterranean – 1Q22
CPBS – Europe-Mediterranean – 1Q22 Very strong business drive and robust increase in results Significant increase in business activity Loans1 • Loans: +16.6%1 vs. 1Q21, strong increase in volumes in Poland and +16.6%1 Turkey in all customer segments with a more marked increase in the 34.2 corporates
Slide 30: CPBS – BancWest – 1Q22
CPBS – BancWest – 1Q22 Good sales and marketing drive Solid business momentum Loan production • Strong increase in loan production (+26.7%1 vs. 1Q21): very good level of +26.7%1 mortgage production and strong increase in collateralised equipment loans with market share gains (number 2 position in th
Slide 31: CPBS – Specialised Businesses – Personal Finance – 1Q22
CPBS – Specialised Businesses – Personal Finance – 1Q22 Strong increase in results Growth in loans outstanding, driven by good business drive Growth in end-of-period loans outstanding3 • Loans outstanding: +1.9%1 vs. 1Q21 to a level higher than in 1Q192; consolidation of 50% of Floa’s loans outstand
Slide 32: CPBS – Specialised Businesses – Arval & Leasing Solutions – 1Q22
CPBS – Specialised Businesses – Arval & Leasing Solutions – 1Q22 Very good performance and positive jaws effect Arval Arval: a balanced • 1.5m vehicles financed1 (+7.2% CAGR2 since 2016, growth outperforming the distribution in revenues market) 2021 Used car sale Revenues margin • Very strong perfor
Slide 33: CPBS – Specialised Businesses – New Digital Businesses and Personal Investors
CPBS – Specialised Businesses – 1Q22 New Digital Businesses (Nickel, Floa, Lyf) and Personal Investors , a new-generation payment offering Nickel: number of accounts • ~2.6m accounts opened1 as at 31.03.22 (+26.6% vs. 31.03.21) opened (in millions)1 • > 7,200 points of sale1 (+12.7% vs. 31.03.21); f
Slide 34: Investment & Protection Services – 1Q22
Investment & Protection Services – 1Q22 Good momentum in activity Good business drive Assets under management1 • Good resiliency in net asset inflows: very good net inflows in Insurance +6.0% €bn and in Wealth Management; net outflows late in the quarter in Asset Management, particularly from money-
Slide 35: IPS – Asset inflows and AuM – 1Q22
IPS – Asset inflows and AuM – 1Q22 Unfavourable market trends; good resiliency in net inflows Assets under management: €1,244bn as at 31.03.22 Change in assets under management1 • +6.0% vs. 31.03.21 €bn • Performance effect unfavourable due to market trends: Performance effect Total -€53.7bn +10.3 +
Slide 36: IPS – Insurance – 1Q22
IPS – Insurance – 1Q22 Very good business drive, unfavourable market impact Continued very strong business drive Gross asset inflows in • Very good performance in Savings in both France and internationally Savings with gross net inflows up sharply (>+20% vs. 1Q21) and unit-linked policies accounting
Slide 37: IPS – Wealth & Asset Management – 1Q22
IPS – Wealth & Asset Management1 – 1Q22 Very strong business activity; increase in revenues and positive jaws effect Wealth Management Increase in BNPP AM • Good net asset inflows, particularly in European Commercial & performances Personal Banking and high level of management fees % AuM rated 4-5 s
Slide 38: Conclusion
GROUP RESULTS DIVISION RESULTS CONCLUSION 1Q22 DETAILED RESULTS APPENDICES
Slide 39: Conclusion
Conclusion A good business drive at the start of the year consolidating 2022 trajectory The strength of BNP Paribas’ distinctive model Revenues: €13,218m +11.7% vs. 1Q21 Positive jaws effect (+3.4 pts) at constant scope & exchange rates and excl. taxes subject to IFRIC 211 Low cost of risk Very stro
Slide 40: 1Q22 Detailed Results
GROUP RESULTS DIVISION RESULTS CONCLUSION 1Q22 DETAILED RESULTS APPENDICES
Slide 41: BNP Paribas Group – 1Q22
BNP Paribas Group – 1Q22 1Q22 1Q21 1Q22 / 4Q21 1Q22 / €m 1Q21 4Q21 Group n.s. n.s. Revenues 13,218 11,829 +11.7% 11,232 +17.7% Incl. Interest Income 5,734 5,452 5.2% 5,169 10.9% Incl. Commissions 2,637 2,555 3.2% 2,919 -9.7% Operating Expenses and Dep. -9,653 -8,597 +12.3% -7,930 +21.7% Gross Operat
Slide 42: Corporate and Institutional Banking – 1Q22
Corporate and Institutional Banking – 1Q22 1Q22 1Q21 1Q22 / 4Q21 1Q22 / €m 1Q21 4Q21 CORPORATE AND INSTITUTIONAL BANKING Revenues 4,702 3,670 +28.1% 3,264 +44.1% Operating Expenses and Dep. -3,353 -2,834 +18.3% -2,348 +42.8% Gross Operating Income 1,349 836 +61.4% 915 +47.4% Cost of Risk -2 -172 -99
Slide 43: Corporate and Institutional Banking Global Banking – 1Q22
Corporate and Institutional Banking Global Banking – 1Q22 1Q22 1Q21 1Q22 / 4Q21 1Q22 / €m 1Q21 4Q21 Global Banking Revenues 1,268 1,243 +2.0% 1,324 -4.2% Operating Expenses and Dep. -815 -768 +6.1% -655 +24.3% Gross Operating Income 453 475 -4.7% 669 -32.3% Cost of Risk 20 -185 n.s. 72 -72.6% Operat
Slide 44: Corporate and Institutional Banking Global Markets – 1Q22
Corporate and Institutional Banking Global Markets – 1Q22 1Q22 1Q21 1Q22 / 4Q21 1Q22 / €m 1Q21 4Q21 Global Markets Revenues 2,821 1,846 +52.8% 1,338 n.s. incl. FICC 1,700 1,149 +47.9% 755 n.s. incl. Equity & Prime Services 1,121 697 +60.9% 583 +92.3% Operating Expenses and Dep. -2,000 -1,564 +27.9%
Slide 45: Corporate and Institutional Banking Market risks – 1Q22
Corporate and Institutional Banking Market risks – 1Q22 Average 99% 1-day interval VaR (Value at Risk) €m Increase in average VaR at a low level this quarter despite a strong volatility1 • VaR at a low level at the beginning of the year due to prudent management. Average increase mainly linked to co
Slide 46: Corporate and Institutional Banking Securities Services – 1Q22
Corporate and Institutional Banking Securities Services – 1Q22 1Q22 1Q21 1Q22 / 4Q21 1Q22 / €m 1Q21 4Q21 SECURITIES SERVICES Revenues 613 581 +5.5% 602 +1.9% Operating Expenses and Dep. -538 -503 +7.0% -469 +14.7% Gross Operating Income 75 78 -4.1% 132 -43.2% Cost of Risk 0 -1 n.s. -2 n.s. Operating
Slide 47: Commercial, Personal Banking & Services – 1Q22
Commercial, Personal Banking & Services – 1Q22 1Q22 1Q21 1Q22 / 4Q21 1Q22 / €m 1Q21 4Q21 Commercial, Personal Banking and Services (including 100% of Private Banking in France, Belgium, Italy, Luxembourg, Poland, Turkey, the United States and Germany) Revenues 6,979 6,430 +8.5% 6,506 +7.3% Operating
Slide 48: CPBS – Commercial & Personal Banking in France – 1Q22
CPBS – Commercial & Personal Banking in France – 1Q22 1Q22 1Q21 1Q22 / 4Q21 1Q22 / €m 1Q21 4Q21 Commercial, Personal Banking in France (including 100% of Private Banking in France) Revenues 1,613 1,481 +8.9% 1,608 +0.3% Incl. net interest income 847 797 6.2% 884 -4.2% Incl. fees 766 684 12.0% 724 5.
Slide 49: CPBS – Commercial & Personal Banking in France Volumes
CPBS – Commercial & Personal Banking in France Volumes 1Q22 %Var/1Q21 %Var/4Q21 Average outstandings (€bn) LOANS 202.9 +2.4% +1.0% Individual Customers 108.3 +6.0% +0.9% Incl. Mortgages 97.2 +6.2% +0.9% Incl. Consumer Lending 11.1 +3.9% +0.2% Corporates 94.6 -1.3% +1.2% DEPOSITS AND SAVINGS 239.8 +6
Slide 50: CPBS – BNL banca commerciale – 1Q22
CPBS – BNL banca commerciale – 1Q22 1Q22 1Q21 1Q22 / 4Q21 1Q22 / €m 1Q21 4Q21 BNL bc (Including 100% of Private Banking in Italy) Revenues 654 676 -3.1% 668 -2.1% Incl. net interest income 380 398 -4.3% 370 2.7% Incl. fees 274 278 -1.4% 298 -8.0% Operating Expenses and Dep. -454 -458 -1.0% -438 +3.5
Slide 51: CPBS – BNL banca commerciale Volumes
CPBS – BNL banca commerciale Volumes 1Q22 %Var/1Q21 %Var/4Q21 Average outstandings (€bn) LOANS 78.6 +2.1% +0.1% Individual Customers 37.8 +1.0% +0.0% Incl. Mortgages 26.7 +3.6% +0.5% Incl. Consumer Lending 2.0 -59.1% -58.3% Corporates 40.7 +3.2% +0.3% DEPOSITS AND SAVINGS 62.5 +8.5% +0.7% Individual
Slide 52: CPBS – Commercial & Personal Banking in Belgium – 1Q22
CPBS – Commercial & Personal Banking in Belgium – 1Q22 1Q22 1Q21 1Q22 / 4Q21 1Q22 / €m 1Q21 4Q21 Commercial, Personal Banking in Belgium (Including 100% of Private Banking in Belgium) Revenues 935 858 +8.9% 854 +9.5% Incl. net interest income 632 585 8.1% 581 8.8% Incl. fees 303 274 10.6% 273 10.8%
Slide 53: CPBS – Commercial & Personal Banking in Belgium Volumes
CPBS – Commercial & Personal Banking in Belgium Volumes 1Q22 1Q21 4Q21 %Var/1Q21 %Var/4Q21 Average outstandings (€bn) LOANS 130.5 115.0 120.4 +13.5% +8.4% Individual Customers 85.2 74.0 76.4 +15.2% +11.6% Incl. Mortgages 64.1 54.2 55.6 +18.2% +15.1% Incl. Consumer Lending 0.1 0.1 0.3 +7.9% -48.1% In
Slide 54: CPBS – Commercial & Personal Banking in Luxembourg – 1Q22
CPBS – Commercial & Personal Banking in Luxembourg – 1Q22 1Q22 1Q21 1Q22 / 4Q21 1Q22 / €m 1Q21 4Q21 Commercial, Personal Banking in Luxembourg (Including 100% of Private Banking) n.s. Revenues 115 101 +14.1% 113 +1.6% Incl. net interest income 88 81 8.8% 87 1.3% Incl. fees 27 20 36.1% 26 2.5% Operat
Slide 55: CPBS – Commercial, Personal Banking in Luxembourg – 1Q22 Volumes
CPBS – Commercial, Personal Banking in Luxembourg – 1Q22 Volumes Average outstandings (€bn) 1Q22 %Var/1Q21 %Var/4Q21 LOANS 12.7 +7.3% +2.6% Individual Customers 8.0 +4.6% +1.1% Corporates and Local Governments 4.7 +12.1% +5.4% DEPOSITS AND SAVINGS 28.7 +6.7% -2.2% Current Accounts 17.6 +3.9% -6.4% S
Slide 56: CPBS – Europe-Mediterranean – 1Q22
CPBS – Europe-Mediterranean – 1Q22 1Q22 1Q21 1Q22 / 4Q21 1Q22 / €m 1Q21 4Q21 Europe-Mediterranean (Including 100% of Private Banking in Poland and Turkey) n.s. Revenues 639 516 +23.8% 449 +42.3% Incl. net interest income 518 399 29.8% 320 61.9% Incl. fees 121 117 3.1% 129 -6.5% Operating Expenses an
Slide 57: CPBS – Europe-Mediterranean Volumes and risks
CPBS – Europe-Mediterranean Volumes and risks %Var/1Q21 %Var/4Q21 at constant at constant scope and scope and 1Q22 historical historical exchange exchange rates rates Average outstandings (€bn) n.s. n.s. n.s. n.s. n.s. n.s. n.s. n.s. LOANS 34.2 +0.1% +16.6% -1.0% +4.8% DEPOSITS 39.8 +1.3% +18.1% -2.
Slide 58: CPBS – BancWest – 1Q22
CPBS – BancWest – 1Q22 1Q22 1Q21 1Q22 / 4Q21 1Q22 / €m 1Q21 4Q21 BancWest (Including 100% of Private Banking in United States)1 n.s. n.s. Revenues 619 625 -1.0% 626 -1.2% Incl. net interest income 519 538 -3.6% 502 3.2% Incl. fees 100 87 15.2% 124 -19.0% Operating Expenses and Dep. -475 -410 +15.9%
Slide 59: CPBS – BancWest Volumes
CPBS – BancWest Volumes %Var/1Q21 %Var/4Q21 at constant at constant scope and scope and 1Q22 historical historical exchange exchange Average outstandings (€bn) rates rates n.s. n.s. n.s. n.s. n.s. n.s. n.s. n.s. LOANS 51.2 +2.3% -4.7% +2.8% +0.9% Individual Customers 21.5 +6.9% -0.5% +4.0% +2.0% Inc
Slide 60: CPBS – Specialised Businesses – Personal Finance – 1Q22
CPBS – Specialised Businesses – Personal Finance – 1Q22 1Q22 1Q21 1Q22 / 4Q21 1Q22 / €m 1Q21 4Q21 Personal Finance n.s. n.s. Revenues 1,388 1,332 +4.2% 1,294 +7.2% Operating Expenses and Dep. -776 -750 +3.4% -710 +9.2% Gross Operating Income 612 581 +5.4% 584 +4.8% Cost of Risk -315 -321 -1.8% -346
Slide 61: CPBS – Personal Finance Volumes and risks
CPBS – Specialised Businesses – Personal Finance Volumes and risks %Var/1Q21 %Var/4Q21 at constant at constant scope and scope and 1Q22 historical historical exchange exchange Average outstandings (€bn) rates rates n.s. n.s. n.s. n.s. TOTAL CONSOLIDATED OUTSTANDINGS 92.6 +1.9% +0.9% +1.5% +0.6% TOTA
Slide 62: CPBS – Specialised Businesses – Arval & Leasing Solutions
CPBS – Specialised Businesses – 1Q22 Arval & Leasing Solutions 1Q22 1Q21 1Q22 / 4Q21 1Q22 / €m 1Q21 4Q21 Arval & Leasing Solutions n.s. n.s. Revenues 811 639 +27.0% 709 +14.4% Operating Expenses and Dep. -366 -338 +8.4% -328 +11.6% Gross Operating Income 445 301 +47.9% 381 +16.7% Cost of Risk -30 -3
Slide 63: CPBS – Specialised Businesses – Arval & Leasing Solutions
CPBS – Specialised Businesses – 1Q22 Arval & Leasing Solutions Arval %Var/1Q21 %Var/4Q21 at constant at constant 1Q22 scope and scope and historical historical exchange exchange Average outstandings (€bn) rates rates Consolidated Outstandings 25.6 +9.8% +9.5% +2.0% +2.0% Financed vehicles ('000 of v
Slide 64: CPBS – New Digital Businesses and Personal Investors
CPBS – Specialised Businesses – 1Q22 New Digital Businesses and Personal Investors 1Q22 1Q21 1Q22 / 4Q21 1Q22 / €m 1Q21 4Q21 New Digital Businesses & Personal Investors (including 100% of Private Banking in Germany) n.s. n.s. Revenues 205 203 +1.2% 184 +11.4% Operating Expenses and Dep. -132 -119 +1
Slide 65: CPBS – New Digital Businesses and Personal Investors
CPBS – Specialised Businesses – 1Q22 New Digital Businesses and Personal Investors Nickel • 2.6 million accounts opened1 as at the end of March 2022 (+26.6% vs. 31.03.21) Floa • Closing of the acquisition on 31.01.22 • 3.7 million accounts opened as of the end of March 2022 (+21.7% vs. 31.03.21) Per
Slide 66: IPS – Investment & Protection Services – 1Q22
IPS – Investment & Protection Services – 1Q22 1Q22 1Q21 1Q22 / 4Q21 1Q22 / €m 1Q21 4Q21 Investment & Protection Services Revenues 1,650 1,652 -0.2% 1,639 +0.6% Operating Expenses and Dep. -1,051 -1,015 +3.6% -1,164 -9.7% Gross Operating Income 599 638 -6.0% 475 +26.1% Cost of Risk -7 -5 +36.2% 7 n.s
Slide 67: IPS – Insurance and WAM Activity
IPS – Insurance and WAM1 Activity %Var/ %Var/ 31.03.22 31.03.21 31.12.21 €bn 31.03.21 31.12.21 Assets under management (€bn) 1,244.1 1,173.7 +6.0% 1,276.7 -2.6% Insurance 270.4 268.2 +0.8% 282.2 -4.2% Wealth Management 420.6 402.8 +4.4% 426.7 -1.4% AM+RE+PI 553.2 502.7 +10.1% 567.9 -2.6% Asset Manag
Slide 68: IPS – Insurance and WAM
IPS – Insurance and WAM1 Insurance and WAM Asset Management Breakdown in assets by client segment Breakdown in AuM as at 31.03.22 €1,174bn €1,244bn Alternatives and others 8% 28% Corporates & 28% Bonds Institutionals 27% Diversified 27% 52% 52% Individuals Money-market ▶ 57% 16% 20% External 20% Equ
Slide 69: IPS – Insurance – 1Q22
IPS – Insurance – 1Q22 1Q22 1Q21 1Q22 / 4Q21 1Q22 / €m 1Q21 4Q21 Insurance Revenues 721 792 -8.9% 655 +10.1% Operating Expenses and Dep. -384 -383 +0.4% -410 -6.4% Gross Operating Income 337 409 -17.5% 245 +37.6% Cost of Risk 0 0 n.s. -1 -37.1% Operating Income 337 409 -17.7% 244 +37.8% Share of Ear
Slide 70: IPS – Wealth and Asset Management – 1Q22
IPS – Wealth and Asset Management – 1Q22 1Q22 1Q21 1Q22 / 4Q21 1Q22 / €m 1Q21 4Q21 Wealth and Asset Management including Real Estate & Principal Investments Revenues 929 861 +7.9% 984 -5.6% Operating Expenses and Dep. -667 -632 +5.5% -754 -11.6% Gross Operating Income 262 229 +14.5% 230 +13.7% Cost
Slide 71: Corporate Centre – 1Q22
Corporate Centre – 1Q22 1Q22 1Q21 1Q22 / 4Q21 1Q22 / €m 1Q21 4Q21 Other Activities n.s. n.s. Revenues 66 243 -73.0% -5 n.s. Operating Expenses and Dep. -511 -244 n.s. -264 +93.3% Incl. Restructuring, IT Reinforcement and Adaptation Costs -76 -77 -2.1% -82 -8.0% Gross Operating Income -445 0 n.s. -26
Slide 72: Breakdown of taxes and contributions subject to IFRIC 21 – 1Q22
Breakdown of taxes and contributions subject to IFRIC 21 – 1Q22 In millions of euros 1Q21 1Q22 Commercial, Personal Banking and Services -675 -760 1 Commercial, Personal Banking in France -142 -168 1 BNL bc -41 -47 1 Commercial, Personal Banking in Belgium -328 -369 1 Commercial, Personal Banking in
Slide 73: Appendices
GROUP RESULTS DIVISION RESULTS CONCLUSION 1Q22 DETAILED RESULTS APPENDICES
Slide 74: Number of Shares and Earnings per Share
Number of Shares and Earnings per Share Number of Shares in millions 31-Mar-22 31-Mar-21 Number of Shares (end of period) 1,234 1,250 Number of Shares excluding Treasury Shares (end of period) 1,233 1,249 Average number of Shares outstanding excluding Treasury Shares 1,233 1,248 Reminder: cancellati
Slide 75: Capital Ratios and Book Value Per Share
Capital Ratios and Book Value Per Share Capital Ratios 31-Mar-22 31-Dec-21 Total Capital Ratio (a) 16.0% 16.4% Tier 1 Ratio (a) 13.5% 14.0% Common equity Tier 1 ratio (a) 12.4% 12.9% (a) CRD4, on risk-weighted assets of €745bn as at 31.03.22 and €714bn as at 31.12.21; refer to slide 84 Book value pe
Slide 76: Return on Equity and Permanent Shareholders' Equity
Return on Equity and Permanent Shareholders’ Equity Calculation of Return on Equity in millions of euros 31-Mar-22 31-Mar-21 Net income Group share 2,108 1,768 (1) Exceptional items (after tax) (a) -43 236 (2) of which exceptional items (not annualised) 11 290 (3) of which IT reinforcement and restr
Slide 77: A Solid Financial Structure
A Solid Financial Structure Doubtful loans/gross outstandings 31-Mar-22 31-Mar-21 Doubtful loans (a) / Loans (b) 1.9% 2.1% (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 78: 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-22 31-Dec-21 Consolidated Equity 123.6 122.5 Undated super subordinated notes -8.6 -9.2 2021 net income distribution project -4.5 -4.5 2022 net income distribution proj
Slide 79: Medium/Long Term Regulatory Funding
Medium/Long Term Regulatory Funding Continued presence in debt markets 2022 MLT regulatory issuance plan1: ~€ 20.5bn • Capital instruments: ~€5.5bn; €2.9bn already issued2 • Non Preferred Senior debt: ~ €15bn; €8.0bn already issued2: (including €2-3bn AT1 ; €1.1bn already issued): • €1.50bn priced o
Slide 80: TLAC ratio: ~390bps above the requirement
TLAC ratio: ~390bps above the requirement without calling on the Preferred Senior debt allowance 25.9% TLAC requirement as at 31.03.22: 22.03% of RWA 22.03% BNP Paribas • Including capital conservation buffer, G-SIB buffer and TLAC ratio countercyclical capital buffer (3 bps as of 1Q22) TLAC as at 3
Slide 81: Distance to MDA restrictions
Distance to MDA restrictions Reminder: Pillar 2 is composed of: Capital requirements as at 31.03.222 “Pillar 2 Requirement” 1(public), applicable to CET1, Tier 1 and Total Capital ratios Countercyclical buffer P2R “Pillar 2 Guidance” (not public), not applicable for distributable G-SIB buffer Pi
Slide 82: Variation in the Cost of Risk by Business Unit (1/2)
Variation in the Cost of Risk by Business Unit (1/2) Cost of risk/Customer loans at the beginning of the period (in annualised bp) 2019 2020 1Q21 2Q21 3Q21 4Q21 2021 1Q22 1 Commercial Personal Banking and Services Loan outstandings as of the beg. of the quarter (€bn) 603.3 620.6 625.0 624.4 629.7 63
Slide 83: Variation in the Cost of Risk by Business Unit (2/2)
Variation in the Cost of Risk by Business Unit (2/2) Cost of risk/Customer loans at the beginning of the period (in annualised bp) 2019 2020 1Q21 2Q21 3Q21 4Q21 2021 1Q22 1 Commercial and Personal Banking outside the Euro Zone Loan outstandings as of the beg. of the quarter (€bn) 95.8 95.3 86.9 86.9
Slide 84: Risk-Weighted Assets
Risk-Weighted Assets Basel 3 Risk-Weighted Assets1: €745bn as at 31.03.22 (€714bn as at 31.12.21) The +€31bn change is mainly explained by: • +€21bn increase in credit risk with the impact of the updating of models and new regulations and effect of the acceleration in growth and bolt-on acquisitions
Slide 85: Basel 3 risk-weighted assets by business as at 31.03.22
Basel 31 risk-weighted assets by business as at 31.03.22 OtherActivités: 3% CPBF: 13% CPBS : 56% Global Markets & Securities Services: 15% BNL bc: 7% Commercial & Personal CIB : 34% Banking in the Euro zone: 29% CPBB: 8% Global Banking: 19% CPBL: 1% Europe-Mediterranean: 6% Commercial & Personal Pri