Bnp Paribas S.a. Class A · EURONEXT:BNP
Bnp Paribas S.a. Class A — Bnp Paribas Ord — Q2 2025 Earnings Presentation
30 slides from Bnp Paribas S.a. Class A's earnings presentation, Jul 24, 2025
Slide 1: Results Second Quarter 2025
RESULTS SECOND QUARTER 2025 24 JULY 2025 30.06.2025 Results | 1
Slide 2: Disclaimer
DISCLAIMER The figures included in this presentation are unaudited. As a reminder, on 28 March 2025, BNP Paribas published quarterly series for 2024, restated to reflect, among other things, the transposition into European Union law of the finalisation of Basel 3 (Basel 4) by Regulation (EU) 2024/16
Slide 3: Section 1: Key points
SECTION 1 Key points 30.06.2025 Results | 3
Slide 4: Solid operating performances
Solid operating performances 2ND QUARTER 2025 | We will pay out an interim dividend of €2.59 on 30 September 2025 Chg. vs. 2Q25 (€m) 2Q24 Revenue growth driven by the diversified model ⎯ Revenues 12,581 +2.5% • A very good quarter at CIB (+4.0%) • Stability at CPBS (+0.4%) and acceleration at Commer
Slide 5: 2025 Outlook
2025 OUTLOOK | 2025 net income expected to exceed €12.2bn ⎯ The strong acceleration in revenue expected in ⎯ … combined with operational efficiency ⎯ On this basis, the GOI1 (excluding H2 2025, driven by commercial banks benefiting and cost control measures, result in a AXA IM) is expected to rise s
Slide 6: 2026 Trajectory
2026 TRAJECTORY | We confirm our 2026 growth trajectory 1 2 3 4 5 Revenues Jaws effect Cost of risk1 Net income2 EPS3 CET1 ratio5 > +5% ~+1.5 pts > +7% > +8% 12.3% < 40 bps 24-26 CAGR4 on average per year 24-26 CAGR4 24-26 CAGR4 Ambition • A cutting-edge platform and a powerful growth engine; RoTE 2
Slide 7: Section 2: 2Q25 results Group
SECTION 2 2Q25 results Group 30.06.2025 Results | 7
Slide 8: Profit & Loss Statement
PROFIT & LOSS STATEMENT Profit & loss statement (€m) 2Q25 2Q24 Var. / 2Q24 12,581 12,270 +2.5% Net banking income (NBI) -7,232 -7,176 +0.8% Operating expenses 5,349 5,094 +5.0% Gross operating income -884 -752 +17.6% Cost of risk -100 -91 +9.7% Other net losses for risks on financial instruments1 Op
Slide 9: Exceptional Items
EXCEPTIONAL ITEMS €m 2Q25 2Q24 Total revenues (a) _ _ Restructuring costs and adaptation costs (Corporate Centre) -63 -50 IT reinforcement costs (Corporate Centre) -86 -98 Total operating expenses (b) -149 -148 Total exceptional items (pre-tax) (a) + (b) -149 -148 Total exceptional items (after-tax)
Slide 10: Revenues
REVENUES | 2Q25 is driven by a solid business performance in each division ⎯ Corporate & ⎯ Commercial, Personal Banking & ⎯ Investment & Protection ⎯ Group Institutional Banking Services2 Services +0.4% Commercial & Specialised Personal Banking Businesses +4.0% -7.0% +5.0% +4.4% +2.5% 12,270 12,581
Slide 11: Operational Efficiency
OPERATIONAL Positive jaws effect at the Group level and across all operating divisions in 2Q25 EFFICIENCY| ⎯ Corporate & ⎯ Commercial, Personal Banking & ⎯ Investment & Protection ⎯ Group Institutional Banking Services2 Services Commercial & -0.1% Specialised Personal Banking Businesses +0.8% +3.3%
Slide 12: Operational Efficiency: cost savings in line with trajectory
OPERATIONAL Cost savings achieved are in line with the announced trajectory EFFICIENCY | ⎯ 2Q25 operating efficiency measures helped absorb the ⎯ We confirm our jaws effect target of +1.5 pts on average per impacts of inflation year in 2025 and 2026 +0.8% +2.0 -0.4 +6.5 -0.2 +1.7 280 10.8% 7,176 160
Slide 13: Cost of Risk
COST OF RISK | Cost of risk under control thanks to the quality and diversification of our credit portfolio ⎯ 2Q25 illustrates our prudent and proactive risk culture ⎯ The sector diversification and quality of our client-franchises are advantages in the current environment Transport & Logistics Comm
Slide 14: Cost of Risk: risk low across business lines
COST OF RISK | Risk remained low across all business lines Cost of risk1 / outstanding customer loans (beginning of period (bps)), including 100% of Private Banking for Commercial & Personal Banking ⎯ CPBF (France) ⎯ CPBB (Belgium) • €120m (-€119m vs. • €25m (+€36m vs. 41 2Q24) 2Q24) 29 33 21 21 21
Slide 15: Capital: robust financial structure
CAPITAL | We have a robust financial structure ⎯ CET1 ratio trend between 31 March 2025 and 30 June 2025 Sensitivity to a US$/€ CET1 depreciation of -5% <-1bp CET1 ratio phased-in1 12.5% 12.5% +20 bps -20 bps +10 bps -10 bps 12.5% 30.06.25 LCR3 136% 10.48% 30.06.25 Leverage4 Phased-in CET1 ratio1 Or
Slide 16: Capital: RWA optimisation
CAPITAL | We are scaling up our efforts to optimise RWA against the backdrop of the Savings and Investment Union ⎯ €44bn in RWA savings for the Group (as of 30.06.2025) ⎯ SRT1 and credit insurance have helped save ~€44bn so far in RWA ~65 bps of CET1 of cumulative savings to 30.06.2025 Credit an
Slide 17: Sustainable Development
Our new extra-financial targets reflect our continuous drive to SUSTAINABLE DEVELOPMENT | supporting transition ⎯ New CSR Dashboard targets set, in accordance with the ⎯ Supporting our clients in transforming their business models and financial targets calendar on key transition challenges Indicator
Slide 18: A Reinforced Internal Control Set-up
A REINFORCED INTERNAL CONTROL SET-UP An even more solid compliance, conduct and control set-up and ongoing insertion of reinforced conduct culture into daily operations • Ongoing improvement of the operating model for combating money laundering and terrorism financing • A standards-based, risk-adjus
Slide 19: Section 3: 2Q25 results Operating Divisions
SECTION 3 2Q25 results Operating Divisions 30.06.2025 Results | 19
Slide 20: CIB: A very good 2Q25
CIB | A very good 2Q25, compared to a high base in 2Q24 CIB (M€) 2Q25 2Q24 Var. • Global Banking – NBI: €1,507m (stable vs. 2Q24) Revenues (NBI) 4,682 4,500 +4.0% Operating expenses -2,571 -2,489 +3.3% • Global Markets – NBI: €2,388m (+5.6% vs. 2Q24) Gross Operating Income 2,110 2,011 +5.0% FICC: €1
Slide 21: CIB: Securities Services
CIB | Securities Services – A transformational 30 years at the forefront of the securities business 1995-2022 Since 2022 Deployment and diversification Sustained growth • Strategic positioning : a global multi-local model • Top-tier leadership in private asset services in Europe • Expansion: strong
Slide 22: CPBS: Good overall performance in 2Q25
Good overall performance in 2Q25, offsetting used-car revenues at Arval CPBS | and supporting pre-tax income €m 2Q25 2Q24 Var. • CPBS – NBI: €6,627m Revenues 6,627 6,599 +0.4% • Commercial & Personal Banking – NBI: €4,284m (+5.0% vs. 2Q24) Operating Expenses and Dep. -3,835 -3,840 -0.1% • Commercial
Slide 23: CPBS: NII rebound in eurozone
Net interest income (NII) rebounded further in eurozone Commercial & Personal Banking; CPBS | 2025 >+3% revenue target maintained ⎯ Deposits stabilised and the savings mix is more favourable ⎯ Net interest income (NII) is starting to rebound 13 2,200 67 93 90 84 160 156 161 2,150 151 158 2,100 328 2
Slide 24: IPS: Strong inflow momentum
IPS | Strong inflow momentum and strong increase in pre-tax income in 2Q25 €m 2Q25 2Q24 Var. Revenues 1,531 1,466 +4.4% • Insurance – NBI: €635m (+8.2% vs. 2Q24) Operating Expenses and Dep. -873 -879 -0.7% • Wealth Management – NBI: €438m (+6.1% vs. 2Q24) Gross operating profit 658 587 +12.2% • Asse
Slide 25: IPS: AXA IM acquisition
IPS | AXA IM acquisition: Becoming the European leader in long-term savings management ⎯ A full offering of products supported by a high-performance ⎯ An Originate & Distribute platform strengthened by AXA IM Alts distribution network Unique capacities throughout the value chain: AXA IM BNPP AM • Or
Slide 26: Conclusion
CONCLUSION By mobilising our teams and our powerful platforms, we achieved solid operating performances in the 2nd quarter of 2025 We will be paying out an interim dividend of €2.59 on 30 September 2025 Strong growth expected in the 2nd half of 2025 On this basis, 2025 net income should exceed €12.2
Slide 27: Endnotes (1/2)
ENDNOTES (1/2) • Slide 4 • Slide 10 1. Cost of risk does not include “Other net losses for risk on financial instruments” 1. Corporate Centre 2. Net Income, Group share 2. Including 2/3 of Private banking 3. Tangible net book value, revaluated at end of period, in € • Slide 11 4. Transition to phase
Slide 28: Endnotes (2/2)
ENDNOTES (2/2) • Slide 20 1. Assets under custody (AuC) and under administration (AuA) • Slide 21 1. Internal analysis based on reported assets under custody (AuC) and under administration (AuA) • Slide 22 1. Accounts opened since inception, total for all countries • Slide 24 1. Including distribute
Slide 29: Appendices
APPENDICES Presentation contents – Details by division and other items ⎯ Details by division (2Q25) ⎯ Other items ⎯ CIB • Corporate Centre • Global Banking • Number of shares and Earnings Per Share • Global Markets • Book value per share • Securities Services • Return on equity and permanent shareho
Slide 30: Contacts and Upcoming Events
CONTACTS AND UPCOMING EVENTS ⎯ Investor Relations ⎯ Upcoming events Bénédicte Thibord, Head of Investor Relations and Financial 30 Sept. 2025 – 2025 Interim dividend payment date Information 28 Oct. 2025 – 3Q25 earnings reporting date Equity Raphaëlle Bouvier-Flory Lisa Bugat Tania Mansour Olivi