Bnp Paribas S.a. Class A · EURONEXT:BNP
Bnp Paribas S.a. Class A — Bnp Paribas Ord — Q1 2021 Earnings Presentation
79 slides from Bnp Paribas S.a. Class A's earnings presentation, Apr 30, 2021
Slide 1: First Quarter 2021 Results
FIRST QUARTER 2021 RESULTS 30 April 2021
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: 1Q21: Solid results and positive jaws effect
1Q21: Solid results and positive jaws effect €112bn (+21% vs. 1Q20) in financing raised for clients Ongoing mobilisation at the service of the on the syndicated loan, bond and equity markets1 economy amidst a gradual recovery Loans outstanding: +0.2% vs. 4Q20 Revenue growth Revenues: +8.6% vs. 1Q20
Slide 4: Group Results
GROUP RESULTS DIVISION RESULTS CONCLUSION 1Q21 DETAILED RESULTS APPENDICES
Slide 5: 1Q21 – Main exceptional items and IFRIC 21 impact
1Q21– Main exceptional items and IFRIC 21 impact Significant increase in taxes subject to IFRIC 21 Exceptional items 1Q21 1Q20 1Q19 Operating expenses • Restructuring costs1 and adaptation costs2 (Corporate Centre) -€58m -€45m -€38m • IT reinforcement costs (Corporate Centre) -€19m -€34m • Transform
Slide 6: 1Q21 – Consolidated Group
1Q21–Consolidated Group Solid results – Positive jaws effect 1Q21 1Q21 1Q21 1Q20 vs. 1Q20 1Q19 vs. 1Q19 Revenues €11,829m €10,888m +8.6% €11,144m +6.1% Operating expenses -€8,597m - €8,157m +5.4% -€8,449m +1.8% Op. expenses excluding taxes subject to IFRIC 211 +2.3% -2.2% Gross operating income €3,2
Slide 7: 1Q21 – Revenues of the Operating Divisions
1Q21 – Revenues of the Operating Divisions Strong growth in revenues of the operating divisions Domestic International CIB Operating Markets1 Financial Services divisions +1.1% -0.6% +24.3% +7.0% at constant at constant at constant at constant +1.2% scope & +4.4% scope & +29.6% scope & +10.3% scope
Slide 8: 1Q21 – Operating expenses of the Operating Divisions
1Q21 – Operating expenses of the Operating Divisions Positive jaws effect in all operating divisions Domestic International Operating Markets1 Financial Services CIB divisions +0.9% -6.5% +15.6% +2.8% Excluding taxes Excluding taxes Excluding Excluding -0.9% -0,4% subject -6.7% -0,4% subject +13.6%
Slide 9: Variation in the Cost of risk by Business Unit (1/3)
Variation in the Cost of risk by Business Unit (1/3) Cost of risk / Customer loans at the beginning of the period (in annualised bp) Group • Cost of risk: €896m -€703m vs. 4Q20 66 67 65 74 -€530m vs. 1Q20 57 39 35 39 42 • Low cost of risk related to a low level of impairments of non- performing
Slide 10: Variation in the Cost of risk by Business Unit (2/3)
Variation in the Cost of risk by Business Unit (2/3) Cost of risk / Customer loans at the beginning of the period (in annualised bp) FRB • Cost of risk: €125m -€44m vs. 4Q20 +€25m vs. 1Q20 21 16 17 25 21 18 27 32 24 • Cost of risk at a low level 2017 2018 2019 2020 1Q20 2Q20 3Q20 4Q20 1Q21 BNL b
Slide 11: Variation in the Cost of risk by Business Unit (3/3)
Variation in the Cost of risk by Business Unit (3/3) Cost of risk / Customer loans at the beginning of the period (in annualised bp) • Cost of risk: €321m Personal Finance -€260m vs. 4Q20 -€261m vs. 1Q20 240 253 • Strong decrease in the cost of risk, thanks to efficient 212 187 165 management of
Slide 12: A very solid financial structure
A very solid financial structure CET1 ratio: 12.8% as at 31.03.211 (stable vs. 31.12.20) CET1 ratio • 1Q21 results, after taking into account a 50% pay-out ratio: +10 bps • Increase of risk-weighted assets: -10 bps 12.8% 12.8% Reminder: 50% of 2020 results intended for return to shareholders and the
Slide 13: Growing net tangible book value per share
Growing net tangible book value per share Net tangible book value per share, end of period: €74.5 € 79.0 82.3 83.7 2008-1Q21 CAGR1: 73.9 75.1 74.7 9.1 9.2 +5.1% 70.9 9.3 65.0 66.6 10.6 10.0 9.9 73.2 74.5 63.1 10.7 69.7 55.6 57.1 10.0 10.9 10.7 65.1 64.8 51.9 63.3 60.2 45.7 11.5 11.7 55.7 Net tangibl
Slide 14: An ambitious policy of engaging with society
An ambitious policy of engaging with society The UN’s SDGs as a “compass” The Group’s CSR1 policy is aligned with meeting the United Nations’ 17 Sustainable Development Goals (SDGs) Each year since 2016, the Group has measured its contribution to the SDGs and set ambitious goals for expanding financ
Slide 15: An ambitious policy of engaging with society
An ambitious policy of engaging with society The UN’s SDGs as a “compass” The Group implements more specific action plans around particular themes, including financial inclusion, climate change and biodiversity SDG 10: Reducing inequalities Nickel: >2 million accounts opened1, with a goal of 4 milli
Slide 16: 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 17: Division Results
GROUP RESULTS DIVISION RESULTS CONCLUSION 1Q21 DETAILED RESULTS APPENDICES
Slide 18: Domestic Markets – 1Q21
Domestic Markets – 1Q21 Support for the economy, increased activity and positive jaws effect Increased level of activity Loans • Loans: +6.5% vs. 1Q20, increase in all business lines, growth in corporate +6.5% €bn loans, and good momentum in mortgage loans 419 446 57 Other DM • Deposits: +13.7% vs.
Slide 19: DM – French Retail Banking – 1Q21
DM – French Retail Banking – 1Q21 Strong activity at the service of the economy Constant mobilisation in financing the economy Loans • Loans: +11.2% vs. 1Q20, increase in corporate and individual loans (strong €bn +11.2% production and higher margins in mortgage loans) 178 198 • Launch of participat
Slide 20: DM – BNL banca commerciale – 1Q21
DM – BNL banca commerciale – 1Q21 Very good business drive and decrease in the cost of risk Growth in business activity Off-balance sheet savings (Life insurance and mutual funds) • Loans: +5.4% vs. 1Q20, +7.2% on the perimeter excluding non-performing loans, good growth in all customer segments +14
Slide 21: DM – Belgian Retail Banking – 1Q21
DM – Belgian Retail Banking – 1Q21 Increased business activity, impact of the low-rate environment Good business drive Mutual fund AuM • Loans: +0.6% vs. 1Q20, increase in particular in loans to individuals €bn (+2.1% vs. 1Q20), increase in corporate loans in 1Q21 (+0.2% vs. 4Q20) +32% • Deposits: +
Slide 22: DM – Other Activities – 1Q21
DM – Other Activities – 1Q21 Strong growth in revenues and results Very good development of activity in all businesses Arval financed fleet • Arval: good growth in the financed fleet (+5.4%1 vs. 1Q20); continued good overall +5.4% performance of used car prices in all countries; CSR2 engagement rewa
Slide 23: International Financial Services – 1Q21
International Financial Services – 1Q21 Good level of results despite the impacts of the health crisis Business drive Assets under management3 • Resilience of Personal Finance: marked rebound in production with the +12.9% easing of public health measures and strong decrease in the cost of risk €bn •
Slide 24: IFS – Personal Finance – 1Q21
IFS – Personal Finance – 1Q21 Strong improvement in results, driven by a lower cost of risk Resilience in business activity but average loans outstanding still Monthly production impacted by the 2Q20 drop in production €bn • Loans outstanding: -4.4% vs. 1Q20 (+0.2% vs. 4Q20) • Confirmation of growth
Slide 25: IFS – Europe-Mediterranean – 1Q21
IFS – Europe-Mediterranean – 1Q21 Good business momentum despite an unfavourable context Business activity Trend in monthly • Loans: +1.4%1 vs. 1Q20, loan growth driven by individual customers loan production2 and the ongoing rebound in production after bottoming out in August €m 2020 (+24%) • Depos
Slide 26: IFS - BancWest – 1Q21
IFS - BancWest – 1Q21 Strong increase in revenues and positive jaws effect Good business drive and support for the economy Deposits1 • Loans: -3.4%1 vs. 1Q20, decrease due in particular to the discontinuation of a +18.9% business in 2020, stable level of corporate loans (active participation in the
Slide 27: IFS – Insurance and WAM – Asset flows and AuM – 1Q21
IFS – Insurance and WAM1 – Asset flows and AuM – 1Q21 Good net asset inflows and favourable performance effect Assets under management: €1,172bn as at 31.03.21 Change in assets under management2 • +12.9% vs. 31.03.20 €bn • Favourable performance effect on the back of the positive +20.4 +8.4 Others +
Slide 28: IFS – Insurance – 1Q21
IFS – Insurance – 1Q21 Rebound in business momentum Continuation of the 4Q20 recovery Revenues • Very good performance in Savings both in France and internationally, €m +36.7% with gross inflows up sharply (> +30% vs. 1Q20) and > 50% of net inflows in unit-linked contracts • Good resilience of Prote
Slide 29: IFS – Wealth and Asset Management – 1Q21
IFS – Wealth and Asset Management1 – 1Q21 Very good activity and very strong increase in results Wealth Management Strong increase in • Very good net asset inflows, particularly with large accounts and very good BNPP AM performances % AUM rated 4 or 5 stars, BNPP AM level of fees on AuM and on trans
Slide 30: Corporate & Institutional Banking – 1Q21
Corporate & Institutional Banking – 1Q21 Very strong rise in activity and results Very strong drive in all businesses Revenues • Financing: good start to the year in both equity issuance and debt (syndicated €bn +24.3% loans and bonds) • Markets: activity still robust in rates, forex & credit; very
Slide 31: CIB: Corporate Banking – 1Q21
CIB: Corporate Banking – 1Q21 Strong growth driven by business momentum High level of activity 2018-1Q21 rankings3 • Strong increase in global ECM volumes led (x3 vs. 1Q20) and growth in EMEA corporate bond issuance (+13% vs. 1Q20)1 Market shares in volume Syndicated Loans • Loans (€149bn, -6.2% vs.
Slide 32: CIB: Global Markets – 1Q21
CIB: Global Markets – 1Q21 Strong growth in revenues in a favourable market context Ongoing expansion, in particular in the equity franchise Trend in revenues • Agreement to raise the Group’s stake in Exane up to 100% in order to widen the range of cash equity and derivatives services offered to cli
Slide 33: CIB: Securities Services – 1Q21
CIB: Securities Services – 1Q21 Strong business drive and steady growth by the platform Continued strong business drive and transformation Assets under custody (AuC) • Onboarding of new clients, including one very large mandate and under administration (AuA) (>€300bn in AuC) in the Eurozone End of p
Slide 34: Conclusion
GROUP RESULTS DIVISION RESULTS CONCLUSION 1Q21 DETAILED RESULTS APPENDICES
Slide 35: Conclusion
Conclusion Gradual recovery in economic activity and increase in revenues Positive jaws effect and strong growth in gross operating income despite the increase in taxes subject to IFRIC 21 Low cost of risk Solid results, at a level close to 2019 1Q21 net income1: €1,768m -7.8% vs. 1Q19 +10.1% vs. 1Q
Slide 36: 1Q21 Detailed Results
GROUP RESULTS DIVISION RESULTS CONCLUSION 1Q21 DETAILED RESULTS APPENDICES
Slide 37: BNP Paribas Group – 1Q21
BNP Paribas Group – 1Q21 1Q21 1Q20 1Q21 / 4Q20 1Q21 / €m 1Q20 4Q20 Group n.s. n.s. Revenues 11,829 10,888 +8.6% 10,827 +9.3% Operating Expenses and Dep. -8,597 -8,157 +5.4% -7,562 +13.7% Gross Operating Income 3,232 2,731 +18.3% 3,265 -1.0% Cost of Risk -896 -1,426 -37.2% -1,599 -44.0% Operating Inc
Slide 38: Retail Banking and Services – 1Q21
Retail Banking and Services – 1Q21 1Q21 1Q20 1Q21 / 4Q20 1Q21 / €m 0 0 1Q20 0 4Q20 Revenues 7,843 7,823 +0.3% 7,753 +1.2% Operating Expenses and Dep. -5,499 -5,650 -2.7% -5,089 +8.1% Gross Operating Income 2,344 2,172 +7.9% 2,664 -12.0% Cost of Risk -669 -1,050 -36.3% -1,137 -41.2% Operating Income
Slide 39: Domestic Markets – 1Q21
Domestic Markets – 1Q21 1Q21 1Q20 1Q21 / 4Q20 1Q21 / €m 0 0 1Q20 0 4Q20 Revenues 3,956 3,913 +1.1% 3,976 -0.5% Operating Expenses and Dep. -2,997 -2,970 +0.9% -2,610 +14.9% Gross Operating Income 959 943 +1.6% 1,366 -29.8% Cost of Risk -315 -313 +0.5% -458 -31.3% Operating Income 644 630 +2.2% 908 -
Slide 40: DM – French Retail Banking – 1Q21 (excluding PEL/CEL effects)
DM – French Retail Banking – 1Q21 (excluding PEL/CEL effects) 1Q21 1Q20 1Q21 / 4Q20 1Q21 / €m 0 0 1Q20 0 4Q20 Revenues 1,480 1,524 -2.9% 1,516 -2.4% Incl. Net Interest Income 796 823 -3.2% 855 -6.9% Incl. Commissions 684 702 -2.6% 661 +3.5% Operating Expenses and Dep. -1,169 -1,166 +0.3% -1,126 +3.9
Slide 41: DM – French Retail Banking Volumes
DM – French Retail Banking Volumes Outstandings %Var/1Q20 %Var/4Q20 Average outstandings (€bn) 1Q21 LOANS 198.1 +11.2% +0.7% Individual Customers 102.2 +4.3% +1.3% Incl. Mortgages 91.5 +5.3% +1.5% Incl. Consumer Lending 10.7 -3.1% -1.1% Corporates 95.9 +19.6% +0.1% DEPOSITS AND SAVINGS 225.6 +17.8%
Slide 42: DM – BNL banca commerciale – 1Q21
DM – BNL banca commerciale – 1Q21 1Q21 1Q20 1Q21 / 4Q20 1Q21 / €m 1Q20 4Q20 Revenues 676 659 +2.6% 694 -2.7% Operating Expenses and Dep. -459 -465 -1.3% -434 +5.8% Gross Operating Income 217 194 +11.8% 260 -16.8% Cost of Risk -110 -120 -8.6% -161 -31.9% Operating Income 107 74 +45.2% 99 +7.8% Non Op
Slide 43: DM – BNL banca commerciale Volumes
DM – BNL banca commerciale Volumes Outstandings %Var/1Q20 %Var/4Q20 Average outstandings (€bn) 1Q21 LOANS 76.9 +5.4% -1.4% Individual Customers 40.4 +3.7% +0.3% Incl. Mortgages 25.7 +0.7% +0.8% Incl. Consumer Lending 4.8 -7.1% +0.8% Corporates 36.5 +7.4% -3.2% DEPOSITS AND SAVINGS 57.6 +18.8% +0.8%
Slide 44: DM – Belgian Retail Banking – 1Q21
DM – Belgian Retail Banking – 1Q21 1Q21 1Q20 1Q21 / 4Q20 1Q21 / €m 1Q20 4Q20 Revenues 858 885 -3.0% 861 -0.3% Operating Expenses and Dep. -835 -830 +0.6% -556 +50.2% Gross Operating Income 23 55 -57.2% 305 -92.3% Cost of Risk -47 -54 -13.1% -67 -30.1% Operating Income -24 0 n.s. 238 n.s. Non Operati
Slide 45: DM – Belgian Retail Banking Volumes
DM – Belgian Retail Banking Volumes Outstandings %Var/1Q20 %Var/4Q20 Average outstandings (€bn) 1Q21 LOANS 114.7 +0.6% +0.2% Individual Customers 74.0 +2.1% +0.3% Incl. Mortgages 54.2 +1.9% +0.5% Incl. Consumer Lending 0.1 +19.4% -32.8% Incl. Small Businesses 19.7 +2.5% -0.1% Corporates and Local Go
Slide 46: DM – Other Activities – 1Q21
DM – Other Activities – 1Q21 1Q21 1Q20 1Q21 / 4Q20 1Q21 / €m 0 0 1Q20 0 4Q20 Revenues 942 845 +11.4% 905 +4.1% Operating Expenses and Dep. -533 -508 +5.0% -494 +7.9% Gross Operating Income 408 337 +21.2% 411 -0.6% Cost of Risk -33 -38 -14.6% -61 -46.1% Operating Income 376 299 +25.8% 350 +7.3% Share
Slide 47: DM – LRB – Personal Investors
DM – LRB – Personal Investors Luxembourg Retail Banking (LRB) Average outstandings (€bn) 1Q21 %Var/1Q20 %Var/4Q20 Loans: +4.5% vs. 1Q20, good growth, mainly driven by mortgage loan growth LOANS 11.8 +4.5% +2.1% Individual Customers 7.6 +6.6% +2.1% Deposits: +13.5% vs. 1Q20: growth driven in Corporat
Slide 48: DM – Arval – Leasing Solutions – Nickel
DM – Arval – Leasing Solutions – Nickel Arval %Var/1Q20 %Var/4Q20 at constant at constant 1Q21 scope and scope and historical historical exchange exchange Average outstandings (€bn) rates rates Consolidated outstandings 23.3 +8.4% +9.6% +4.2% +3.7% Financed vehicles ('000 of vehicles) 1,393 +5.4% +5
Slide 49: International Financial Services – 1Q21
International Financial Services – 1Q21 1Q21 1Q20 1Q21 / 4Q20 1Q21 / €m 1Q20 4Q20 Revenues 4,028 4,053 -0.6% 3,915 +2.9% Operating Expenses and Dep. -2,587 -2,766 -6.5% -2,555 +1.3% Gross Operating Income 1,441 1,287 +12.0% 1,360 +6.0% Cost of Risk -357 -739 -51.7% -678 -47.3% Operating Income 1,084
Slide 50: IFS – Personal Finance – 1Q21
IFS – Personal Finance – 1Q21 1Q21 1Q20 1Q21 / 4Q20 1Q21 / €m 0 0 1Q20 0 4Q20 Revenues 1,332 1,475 -9.7% 1,365 -2.5% Operating Expenses and Dep. -763 -787 -3.1% -687 +11.1% Gross Operating Income 568 688 -17.3% 678 -16.2% Cost of Risk -321 -582 -44.9% -581 -44.8% Operating Income 248 105 n.s. 97 n.s
Slide 51: IFS – Personal Finance Volumes and risks
IFS – Personal Finance Volumes and risks Outstandings %Var/1Q20 %Var/4Q20 at constant at constant scope and scope and 1Q21 historical historical exchange exchange Average outstandings (€bn) rates rates TOTAL CONSOLIDATED OUTSTANDINGS 90.8 -4.4% -3.5% +0.2% +0.0% TOTAL OUTSTANDINGS UNDER MANAGEMENT (
Slide 52: IFS – Europe-Mediterranean – 1Q21
IFS – Europe-Mediterranean – 1Q21 1Q21 1Q20 1Q21 / 4Q20 1Q21 / €m 0 0 1Q20 0 4Q20 Revenues 516 665 -22.3% 527 -2.0% Operating Expenses and Dep. -433 -490 -11.7% -402 +7.6% Gross Operating Income 84 175 -52.1% 125 -32.8% Cost of Risk -39 -86 -55.3% -95 -59.3% Operating Income 45 89 -49.1% 30 +51.8% N
Slide 53: IFS – Europe-Mediterranean Volumes and risks
IFS – Europe-Mediterranean Volumes and risks Outstandings %Var/1Q20 %Var/4Q20 at constant at constant scope and scope and 1Q21 historical historical exchange exchange Average outstandings (€bn) n.s. n.s.rates n.s. n.s.rates n.s. n.s. n.s. n.s. LOANS 34.1 -12.1% +1.4% -2.4% -1.2% DEPOSITS 39.3 -7.0%
Slide 54: IFS – BancWest – 1Q21
IFS – BancWest – 1Q21 1Q21 1Q20 1Q21 / 4Q20 1Q21 / €m 0 0 1Q20 0 4Q20 Revenues 625 611 +2.3% 594 +5.2% Operating Expenses and Dep. -407 -465 -12.4% -423 -3.7% Gross Operating Income 218 146 +49.4% 171 +27.4% Cost of Risk 7 -62 n.s. -3 n.s. Operating Income 224 83 n.s. 168 +33.7% Non Operating Items
Slide 55: IFS – BancWest Volumes
IFS – BancWest Volumes Outstandings %Var/1Q20 %Var/4Q20 at constant at constant scope and scope and 1Q21 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 50.0 -11.6% -3.4% -2.0% -1.0% Individual Customers 20.2 -17.2% -9.5% -4.1
Slide 56: IFS – Insurance and WAM Business volumes
IFS – Insurance and WAM1 Business volumes %Var/ %Var/ 31.03.21 31.03.20 31.12.20 €bn 31.03.20 31.12.20 Assets under management (€bn) 1,171.9 1,037.9 +12.9% 1,165.4 +0.6% Asset Management 474 408 +16.1% 483 -1.9% Wealth Management 402 359 +11.8% 390 +3.1% Real Estate Services 28 29 -2.6% 29 -1.8% Ins
Slide 57: IFS – Insurance & WAM
IFS – Insurance & WAM1 Insurance and WAM Asset management Breakdown of assets by client segment Breakdown in managed assets as at 31.03.21 €1,038bn €1,172bn Alternative and others Corporates & 5% 33% 28% Institutionals Bonds 29% Diversified 28% Individuals 52% 52% ▶ 55% Money-market External 20% 16%
Slide 58: IFS – Insurance – 1Q21
IFS – Insurance – 1Q21 1Q21 1Q20 1Q21 / 4Q20 1Q21 / €m 0 0 1Q20 0 4Q20 Revenues 792 579 +36.7% 622 +27.3% Operating Expenses and Dep. -383 -393 -2.6% -385 -0.5% Gross Operating Income 409 186 n.s. 237 +72.4% Cost of Risk 0 1 -72.8% 0 n.s. Operating Income 409 187 n.s. 237 +72.7% Share of Earnings of
Slide 59: IFS – Wealth and Asset Management – 1Q21
IFS – Wealth and Asset Management – 1Q21 1Q21 1Q20 1Q21 / 4Q20 1Q21 / €m 0 0 1Q20 0 4Q20 Revenues 784 743 +5.5% 826 -5.2% Operating Expenses and Dep. -612 -642 -4.7% -669 -8.5% Gross Operating Income 172 101 +69.9% 157 +9.0% Cost of Risk -4 -9 -54.1% 1 n.s. Operating Income 167 92 +82.5% 159 +5.3% S
Slide 60: Corporate and Institutional Banking – 1Q21
Corporate and Institutional Banking – 1Q21 1Q21 1Q20 1Q21 / 4Q20 1Q21 / €m 1Q20 4Q20 Revenues 3,670 2,953 +24.3% 3,315 +10.7% Operating Expenses and Dep. -2,767 -2,393 +15.6% -2,190 +26.3% Gross Operating Income 903 560 +61.4% 1,125 -19.7% Cost of Risk -172 -363 -52.7% -432 -60.2% Operating Income 7
Slide 61: Corporate Banking – 1Q21
Corporate and Institutional Banking Corporate Banking – 1Q21 1Q21 1Q20 1Q21 / 4Q20 1Q21 / €m 0 0 1Q20 0 4Q20 Revenues 1,243 1,070 +16.2% 1,281 -3.0% Operating Expenses and Dep. -755 -748 +0.8% -645 +17.1% Gross Operating Income 488 321 +51.9% 636 -23.3% Cost of Risk -185 -201 -7.8% -430 -57.0% Opera
Slide 62: Global Markets – 1Q21
Corporate and Institutional Banking Global Markets – 1Q21 1Q21 1Q20 1Q21 / 4Q20 1Q21 / €m 0 0 1Q20 0 4Q20 Revenues 1,846 1,306 +41.4% 1,498 +23.2% incl. FICC 1,149 1,392 -17.5% 1,002 +14.7% incl. Equity & Prime Services 697 -87 n.s. 497 +40.3% Operating Expenses and Dep. -1,527 -1,162 +31.4% -1,089
Slide 63: Market risks – 1Q21
Corporate and Institutional Banking Market risks – 1Q21 Average 99% 1-day interval VaR (Value at Risk) €m Increase in average VaR this quarter1 • Increase mainly due to higher volumes this quarter • No back-testing excess this quarter • 33 back-testing excesses since 1 January 2007, or slightly more
Slide 64: Securities Services – 1Q21
Corporate and Institutional Banking Securities Services – 1Q21 1Q21 1Q20 1Q21 / 4Q20 1Q21 / €m 0 0 1Q20 0 4Q20 Revenues 581 577 +0.7% 536 +8.5% Operating Expenses and Dep. -485 -482 +0.6% -457 +6.2% Gross Operating Income 96 95 +1.3% 79 +22.4% Cost of Risk -1 -2 -17.3% 1 n.s. Operating Income 95 93
Slide 65: Corporate Centre – 1Q21
Corporate Centre – 1Q21 €m 1Q21 1Q20 4Q20 Revenues 314 126 -241 Operating Expenses and Dep. -331 -114 -283 Incl. IT Reinforcement, Restructuring and Adaptation Costs -77 -79 -150 Gross Operating Income -17 12 -524 Cost of Risk -55 -13 -29 Operating Income -72 -1 -554 Share of Earnings of Equity-Meth
Slide 66: 1Q21 - Breakdown of taxes and contributions subject to IFRIC 21
1Q21 - Breakdown of taxes and contributions subject to IFRIC 21 €m 1Q21 1Q20 1Q19 1 Domestic Markets -545 -496 -452 1 French Retail Banking -136 -122 -97 1 BNL bc -42 -39 -39 1 Belgian Retail Banking -319 -299 -286 1 Other activities -47 -36 -30 International Financial Services -170 -174 -151 Person
Slide 67: Appendices
GROUP RESULTS DIVISION RESULTS CONCLUSION 1Q21 DETAILED RESULTS APPENDICES
Slide 68: Number of Shares and Earnings per Share
Number of Shares and Earnings per Share Number of Shares in millions 31-Mar-21 31-Mar-20 Number of Shares (end of period) 1,250 1,250 Number of Shares excluding Treasury Shares (end of period) 1,249 1,249 Average number of Shares outstanding excluding Treasury Shares 1,248 1,248 Earnings per Share i
Slide 69: Capital Ratios and Book Value Per Share
Capital Ratios and Book Value Per Share Capital Ratios 31-Mar-21 31-Dec-20 Total Capital Ratio (a) 16.2% 16.4% Tier 1 Ratio (a) 14.0% 14.2% Common equity Tier 1 ratio (a) 12.8% 12.8% (a) CRD4, on risk-w eighted assets of € 703 bn as at 31.03.21 and € 696 bn as at 31.12.20; refer to slide 78 Book val
Slide 70: 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-21 31-Mar-20 Net income Group share 1,768 1,282 (1) Ex ceptional items (after tax) (a) 236 206 (2) of which exceptonal items (not annualised) 290 256 (3) of which IT reinforcement and rest
Slide 71: A Solid Financial Structure
A Solid Financial Structure Doubtful loans/gross outstandings 31-Mar-21 31-Mar-20 Doubtful loans (a) / Loans (b) 2.1% 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 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-21 31-Dec-20 Consolidated Equity 118.4 117.4 Undated super subordinated notes -9.2 -9.9 2020 net income distribution project -3.3 -3.3 2021 dividend distribution projec
Slide 73: Medium/Long Term Wholesale Funding
Medium/Long Term Wholesale Funding Continued presence in debt markets 2021 MLT wholesale funding programme1: €36bn 2021 MLT regulatory issuance plan1: ~ €17bn • Capital instruments: €4.5bn; €2.1bn already issued2 • AUD450m (Fixed and FRN), priced on 24.02.21, • Tier 2: $1.25bn priced on 19.01.21, 20
Slide 74: TLAC ratio: ~470bps above the requirement
TLAC ratio: ~470bps above the requirement without calling on the Preferred Senior debt allowance 24.7% TLAC requirement as at 31.03.201: 20.03% of RWA • Including capital conservation buffer, G-SIB buffer and 20.03% BNP Paribas TLAC ratio countercyclical capital buffer (3 bps as of 1Q21) as at 31.03
Slide 75: Distance to MDA restrictions
Distance to MDA restrictions Reminder: Pillar 2 is composed of: Capital requirements as at 31.03.211 “Pillar 2 Requirement” (public), applicable to CET1, Tier 1 and Countercyclical buffer P2R Total Capital ratios G-SIB buffer Pillar 1 “Pillar 2 Guidance” (not public), not applicable for distribu
Slide 76: 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) 2018 2019 1Q20 2Q20 3Q20 4Q20 2020 1Q21 1 Domestic Markets Loan outstandings as of the beg. of the quarter (€bn) 401.3 414.0 422.1 427.2 435.5 439.0 431.0 445.0 Cost of
Slide 77: 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) 2018 2019 1Q20 2Q20 3Q20 4Q20 2020 1Q21 1 BancWest Loan outstandings as of the beg. of the quarter (€bn) 51.3 55.1 55.4 58.1 56.8 52.8 55.8 49.8 Cost of risk (€m) 70 148
Slide 78: Risk-Weighted Assets
Risk-Weighted Assets Risk-Weighted Assets1: €703bn as at 31.03.21 (€696bn as at 31.12.20) The +€7bn change is mainly explained by: • +€4bn increase in credit risk • +€4bn increase in market risk bn€ 31.03.21 31.12.20 Credit risk 531 527 Operational Risk 70 71 Counterparty Risk 42 41 Market / Foreign
Slide 79: Risk-Weighted Assets by Business
Risk-Weighted Assets by Business Basel 31 risk-weighted assets by business as 31.03.21 Other Activities: 6% FRB: 14% Global Markets & Securities Services: 14% Retail Banking BNL bc: 7% CIB : 32% & Services : 62% BRB: 7% Corporate Banking: 18% Other Domestic Markets2: 5% Personal Finance: 10% Insuran