Bnp Paribas S.a. Class A · EURONEXT:BNP
Bnp Paribas S.a. Class A — Bnp Paribas Ord — Q3 2022 Earnings Presentation
90 slides from Bnp Paribas S.a. Class A's earnings presentation, Nov 3, 2022
Slide 1: Third Quarter 2022 Results
THIRD QUARTER 2022 RESULTS 3 November 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: 3Q22: A solid performance
3Q22: A solid performance Revenue growth, positive jaws effect and prudent risk management Strong growth in revenues, supported by all divisions Revenues: +8.0% vs. 3Q21 • Strong increase in Corporate & Institutional Banking (+5.9%) Operating expenses: +6.0% vs. 3Q21 • Solid growth in Commercial, Pe
Slide 4: Solid 3Q22 results driven by the strength of BNP Paribas' model
Solid 3Q22 results driven by the strength of BNP Paribas’ model Strong growth in results Balanced and diversified performance €bn CAGR: +4.1% 3Q22 pre-tax income of divisions1 +8.0% Commercial & CIB 33% 30% Personal Banking 12.3 11.4 10.9 10.9 15% 21% Specialised Businesses 3Q19 3Q20 3Q21 3Q22 Stron
Slide 5: A potential for growth strengthened within BNP Paribas' diversified and integrated model
A potential for growth strengthened within BNP Paribas’ diversified and integrated model Targeted investments Bolt-on acquisitions Acceleration in organic growth (technologies & innovative business in value-added businesses models) Achievements as soon as 2022 consolidating the integrated and divers
Slide 6: A high-quality risk profile
A high-quality risk profile Long-term, prudent and proactive risk management Prudent approach: CoR / GOI ratio • Proactive and long-term management among the lowest in Europe1 reflected in a low cost of risk 2008-2021 average in bps / customer loans outstanding 73% 63% 66 58 59 57 54 46% 46 41% 42%
Slide 7: Group Results
GROUP RESULTS DIVISION RESULTS CONCLUSION 9M22 & 3Q22 DETAILED RESULTS APPENDICES
Slide 8: 3Q22 – Main exceptional items
3Q22 – Main exceptional items Negative total exceptional items this quarter Exceptional items 3Q22 3Q21 Operating expenses • Restructuring costs and adaptation costs (Corporate Centre) -€32m -€20m • IT reinforcement costs (Corporate Centre) -€97m -€42m Total exceptional operating expenses -€129m -€6
Slide 9: 3Q22 – Consolidated Group
3Q22 – Consolidated Group 3Q22 vs. 3Q22 vs. 3Q21 3Q22 vs. 3Q21 3Q22 3Q21 At constant scope 3Q21 & exchange rates Operating divisions Revenues €12,311m €11,398m +8.0% +4.9% +8.3% Operating expenses ‐€7,857m ‐€7,412m +6.0% +2.8% +5.9% Gross operating income €4,454m €3,986m +11.7% +8.9% +12.6% Cost of
Slide 10: 3Q22 – Revenues
3Q22 – Revenues Growth in revenues in all divisions CIB Corporate & Institutional Commercial, Personal Banking Investment & Protection Operating divisions Banking & Services1 Services +5.9% +2.0% +9.6% +6.9% +8.9% +7.1% +8.3% +5.3% at constant scope & at constant scope & at constant scope & at const
Slide 11: 3Q22 – Operating expenses
3Q22 – Operating expenses Positive jaws effect in all divisions CIB Corporate & Institutional Commercial, Personal Banking Investment & Protection Operating divisions Banking & Services1 Services +4.5% -0.2% +7.0% +4.5% +4.8% +2.9% +5.9% +2.8% at constant scope & at constant scope & at constant scop
Slide 12: Cost of risk (1/3)
Cost of risk (1/3) Cost of risk / Customer loans outstanding at the beginning of the period (in annualised bps) Group • Cost of risk: €947m (+€158m vs. 2Q22; +€241m vs. 3Q21) • €743m (-€46m vs. 2Q22; +€37m vs. 3Q21) excluding the exceptional impact due to the “Act on assistance to borrowers” in Pola
Slide 13: Cost of risk (2/3)
Cost of risk (2/3) Cost of risk / Customer loans outstanding at the beginning of the period (in annualised bps) CPBF1 • Cost of risk: €102m (+€38m vs. 2Q22; -€14m vs. 3Q21) • Cost of risk at a low level 17 25 21 24 19 21 19 17 12 18 2019 2020 2021 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 BNL bc1 • Cost of
Slide 14: Cost of risk (3/3)
Cost of risk (3/3) Cost of risk / Customer loans outstanding at the beginning of the period (in annualised bps) Personal Finance 212 145 141 138 147 130 150 134 129 139 • Cost of risk: €336m (+€27m vs. 2Q22; +€33m vs. 3Q21) • Low cost of risk 2019 2020 2021 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 Europe-
Slide 15: A very solid financial structure
A very solid financial structure CET1 ratio: 12.1%1 as at 30.09.22 (-10 bps since 30.06.22) CET1 ratio 3Q22 results after taking into account a 60% pay-out ratio net of organic growth in risk-weighted assets: +10 bps Foreign-exchange effect: -10 bps 12.2% 12.1% Impact on Other Comprehensive In
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: €79.3 +€2.5 (+3.3%) vs. 30.09.21 € 88.0 89.1 82.3 2008-3Q22 CAGR1: 79.0 73.9 75.1 74.7 9,4 9.8 +5.0% 70.9 9.1 66.6 9.3 78.7 79.3 63.1 65.0 9.9 10.6 10.0 69.7 73.2 55.6 57.1 10.7 51.9 10.7 10.0 10.
Slide 17: An ambitious policy of engaging with society: supporting clients
An ambitious policy of engaging with society Engaging with our clients to support them in their transition Award for the best net-zero progression of the year in EMEA (Europe, Middle East, Africa) This award recognises the commitment made by the Group and its businesses to support their clients in
Slide 18: Mobilising around five priority pillars
An ambitious policy of engaging with society Mobilising around five priority pillars Signing by BNP Paribas Asset Management of the Business Coalition for a Global Plastics Treaty, alongside, among others, the Ellen MacArthur Foundation, which aims to put an end to plastic pollution Natural capita
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 combating money laundering and terrorism financing: A standards-based, risk-
Slide 20: Division Results
GROUP RESULTS DIVISION RESULTS CONCLUSION 9M22 & 3Q22 DETAILED RESULTS APPENDICES
Slide 21: Corporate & Institutional Banking – 3Q22
Corporate & Institutional Banking – 3Q22 Very good level of results sustained by strong client activity Good business drive, leveraging a diversified and integrated model Growth in CIB revenues • Financing: good resilience amid decreasing primary markets (syndicated (1Q19-3Q22) loans, bonds and equi
Slide 22: CIB – Global Banking – 3Q22
CIB – Global Banking – 3Q22 Good business drive in an unfavourable context Good resilience of activity sustained by the diversified model Revenues sustained at a high • Decrease in primary markets: global syndicated loan, bond and equity level on a receding market markets down on the whole by 22%1 v
Slide 23: CIB – Global Markets – 3Q22
CIB – Global Markets – 3Q22 Very strong increase in revenues sustained by solid demand Very robust client activity on the whole Strong increase in revenues • Fixed income, currencies & commodities: continued very strong client demand for derivatives, driven in particular by reallocation and hedging
Slide 24: CIB – Securities Services – 3Q22
CIB – Securities Services – 3Q22 Strong increase in revenues Very good business drive supported by the diversified Transaction volumes model Settlement & delivery • Sustained sales & marketing development, in particular with new transactions in millions mandates in Europe • Increase in transaction v
Slide 25: Commercial, Personal Banking & Services – 3Q22
Commercial, Personal Banking & Services – 3Q22 Strong increase in results and positive jaws effect Good business drive Loans • Loans: +8.3% vs. 3Q21, good growth in all businesses, increase in loans to €bn +8.3% individual and corporates 680 628 • Deposits: +7.1% vs. 3Q21, strong increase across all
Slide 26: CPBS – Commercial & Personal Banking in France – 3Q22
CPBS – Commercial & Personal Banking in France – 3Q22 Strong increase in results and very positive jaws effect Good business drive Loans • Loans: +5.9% vs. 3Q21, good increase in working capital loans to corporates, +5.9% increase in mortgage loans and consumer loans • Deposits: +5.1% vs. 3Q21, incr
Slide 27: CPBS – BNL banca commerciale – 3Q22
CPBS – BNL banca commerciale – 3Q22 Ongoing impact of the transformation of the operating model Good business drive Deposits • Loans: +3.2% vs. 3Q21, 5.3% rise on the perimeter excluding non-performing +11.0% loans, good increase in corporate and mortgage loans • Deposits: +11.0% vs. 3Q21, steep inc
Slide 28: CPBS – Commercial & Personal Banking in Belgium – 3Q22
CPBS – Commercial & Personal Banking in Belgium – 3Q22 Growth in activity in support of the economy Significant increase in loans1 (+15.4% vs. 3Q21) Loans1 • +8.1% at constant scope and exchange rates2 +15.4% • Very strong growth in individual loans (+16.3%), mortgage loans in particular (+18.2%), s
Slide 29: CPBS – Europe Mediterranean – 3Q22
CPBS – Europe Mediterranean – 3Q22 Good business drive and strong increase in results Commercial activity Deposits1 • Loans: +20.3%1 vs. 3Q21, increased volumes in Poland and Turkey +27.7%1 • Deposits: +27.7%1 vs. 3Q21, up in Poland and Turkey Ongoing digitalisation 43 33 • 3.9 million active digita
Slide 30: CPBS – BancWest – 3Q22
CPBS – BancWest – 3Q22 Continued strong business activity Sustained business drive Loan production • Loans: +3.0%1 vs. 3Q21, increase in mortgage and corporate loans +6.7%1 • Increase in loan production (+6.7%2 vs. 3Q21) with a very good business drive in corporate loans (+31.4%2 vs. 3Q21) • Deposit
Slide 31: CPBS – Specialised Businesses – Personal Finance – 3Q22
CPBS – Specialised Businesses – Personal Finance – 3Q22 Growth in revenues and improvement in the risk profile Good level of activity Loans outstanding • Loans outstanding: +4.4%1 vs. 3Q21 at a higher level than in 2019, €bn +4.4%1 consolidation of 50% of Floa’s loans outstanding (€1.1bn)2 • Increas
Slide 32: CPBS – Specialised Businesses – Arval & Leasing Solutions – 3Q22
CPBS – Specialised Businesses – Arval & Leasing Solutions – 3Q22 Very strong performance and positive jaws effect Arval Arval: a balanced distribution in revenues • Good organic growth in the financed fleet (+5.5%1 vs. 3Q21) and continued very high used car prices Financial • Signing of an agreement
Slide 33: CPBS – Specialised Businesses – 3Q22 New Digital Businesses
CPBS – Specialised Businesses – 3Q22 New Digital Businesses (Nickel, Floa, Lyf) and Personal Investors , a new-generation payment offering Nickel: number of accounts • Continued expansion in Europe with the offering being launched in Belgium and opened2 Portugal and a faster pace of account openings
Slide 34: Investment & Protection Services – 3Q22
Investment & Protection Services – 3Q22 Strong results growth in an unfavourable environment Good sales and business drive Assets under management1 • Resiliency in net asset inflows (+€5.4bn in 3Q22): strong net asset €bn inflows at Wealth Management, particularly in France; slightly positive net as
Slide 35: IPS – Asset inflows and AuM – 9M22
IPS – Asset inflows and AuM – 9M22 Unfavourable market environment Assets under management: €1,175bn at 30.09.22 Change in assets under management 1 • -3.7% vs. 30.09.21 €bn Market • Very unfavourable market performance effect : -€148.4bn +14.4 effect • Favourable foreign exchange effect: +€29.6bn N
Slide 36: IPS – Insurance – 3Q22
IPS – Insurance – 3Q22 Strong increase in results Business activity Revenues • Savings: gross asset inflows of €18.1bn in 9M22, driven by an increase €m +7.2% (+6.5%) of gross inflows in France, with unit-linked policies accounting for the vast majority of net inflows 658 • Protection: further growt
Slide 37: IPS – Wealth & Asset Management – 3Q22
IPS – Wealth & Asset Management1 – 3Q22 Good resilience of business activity on the whole Wealth Management Acknowledged leadership • Good net asset inflows, especially in Commercial & Personal Banking (particularly in France) and with high-net-worth clients Outstanding Private Bank in • Good increa
Slide 38: Conclusion
GROUP RESULTS DIVISION RESULTS CONCLUSION 9M22 & 3Q22 DETAILED RESULTS APPENDICES
Slide 39: Conclusion
Conclusion A solid performance Revenue growth, positive jaws effect, and prudent risk management Strength of BNP Paribas’ model Revenues: €12,311m (+8.0 % vs. 3Q21) Positive jaws effect +2.0 points Low cost of risk 31 bps1 Very good level of results Net income2: €2,761m (+10.3% vs. 3Q21) A solid, di
Slide 40: GTS 2025 strategic plan: 2022-2025 Group objectives
GTS 2025 strategic plan Reminder: 2022-2025 Group objectives1 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 pts , ~40 bps 3 2025: >11% positive every y
Slide 41: 9M22 & 3Q22 Detailed Results
GROUP RESULTS DIVISION RESULTS CONCLUSION 9M22 & 3Q22 DETAILED RESULTS APPENDICES
Slide 42: Main exceptional items – 9M22
Main exceptional items – 9M22 Exceptional items 9M22 9M21 Operating expenses • Restructuring costs and adaptation costs (Corporate Centre) -€85m -€103m • IT reinforcement costs (Corporate Centre) -€229m -€107m Total exceptional operating expenses -€314m -€210m Cost of risk • Impact of “Act on assist
Slide 43: 9M22 – Consolidated Group
9M22 – Consolidated Group 9M22 9M22 vs. 9M21 9M22 9M21 vs. 9M21 At constant scope &exchange rates Revenues €38,310m €35,003m +9.4% +6.9% Operating expenses ‐€25,229m ‐€23,181m +8.8% +5.6% Gross operating income €13,081m €11,822m +10.6% +9.2% Cost of risk ‐€2,192m ‐€2,415m ‐9.2% ‐16.1% Operating inco
Slide 44: 9M22 – Revenues
9M22 – Revenues Growth in revenues in all divisions CIB Corporate & Institutional Commercial, Personal Banking Investment & Protection Operating divisions Banking & Services1 Services +14.9% +10.2% +9.8% +7.6% +3.5% +2.9% +10.5% +7.8% at constant scope & Commercial & at constant scope & at constant
Slide 45: 9M22 – Operating expenses
9M22 – Operating expenses Positive jaws effect CIB Corporate & Institutional Commercial, Personal Banking Investment & Protection Operating divisions Banking & Services1 Services +12.5% +6.5% +6.2% +4.3% +5.0% +4.0% +8.0% +5.0% at constant scope & at constant scope & at constant scope & at constant
Slide 46: 9M22 & 3Q22 – BNP Paribas Group
9M22 & 3Q22 – BNP Paribas Group 3Q22 3Q21 3Q22 / 2Q22 3Q22 / 9M22 9M21 9M22 / €m 3Q21 2Q22 9M21 Group Revenues 12,311 11,398 +8.0% 12,781 -3.7% 38,310 35,003 +9.4% incl. Interest Income 5,721 5,218 +9.6% 5,695 +0.5% 17,150 16,040 +6.9% incl. Commissions 2,572 2,603 -1.2% 2,615 -1.6% 7,824 7,798 +0.3
Slide 47: Corporate and Institutional Banking – 9M22
Corporate and Institutional Banking – 9M22 3Q22 3Q21 3Q22 / 2Q22 3Q22 / 9M22 9M21 9M22 / €m 3Q21 2Q22 9M21 Corporate and Institutional Banking Revenues 3,799 3,588 +5.9% 4,106 -7.5% 12,608 10,972 +14.9% Operating Expenses and Dep. -2,343 -2,243 +4.5% -2,314 +1.2% -8,010 -7,119 +12.5% Gross Operating
Slide 48: CIB Global Banking – 9M22
Corporate and Institutional Banking Global Banking – 9M22 3Q22 3Q21 3Q22 / 2Q22 3Q22 / 9M22 9M21 9M22 / €m 3Q21 2Q22 9M21 Global Banking Revenues 1,181 1,282 -7.9% 1,248 -5.4% 3,696 3,763 -1.8% Operating Expenses and Dep. -663 -640 +3.6% -657 +0.8% -2,135 -1,997 +6.9% Gross Operating Income 518 642
Slide 49: CIB Global Markets – 9M22
Corporate and Institutional Banking Global Markets – 9M22 3Q22 3Q21 3Q22 / 2Q22 3Q22 / 9M22 9M21 9M22 / €m 3Q21 2Q22 9M21 Global Markets Revenues 1,986 1,731 +14.7% 2,196 -9.5% 7,003 5,481 +27.8% incl. FICC 1,124 896 +25.5% 1,317 -14.7% 4,140 3,192 +29.7% incl. Equity & Prime Services 863 835 +3.3%
Slide 50: CIB Market risks – 3Q22
Corporate and Institutional Banking Market risks – 3Q22 Average 99% 1-day interval VaR (Value at Risk) €m Average VaR at a low level this quarter despite market conditions1 • At a low level, unchanged vs. 2Q22, due to prudent management • No theoretical back-testing event this quarter • 37 back-test
Slide 51: CIB Securities Services – 9M22
Corporate and Institutional Banking Securities Services – 9M22 3Q22 3Q21 3Q22 / 2Q22 3Q22 / 9M22 9M21 9M22 / €m 3Q21 2Q22 9M21 Securities Services Revenues 632 575 +9.9% 663 -4.6% 1,908 1,728 +10.4% Operating Expenses and Dep. -513 -465 +10.1% -499 +2.7% -1,550 -1,422 +9.0% Gross Operating Income 11
Slide 52: Commercial, Personal Banking & Services – 9M22
Commercial, Personal Banking & Services – 9M22 3Q22 3Q21 3Q22 / 2Q22 3Q22 / 9M22 9M21 9M22 / €m 3Q21 2Q22 9M21 1 Commercial, Personal Banking & Services Revenues 7,110 6,485 +9.6% 7,184 -1.0% 21,273 19,382 +9.8% Operating Expenses and Dep. -4,330 -4,046 +7.0% -4,263 +1.6% -13,442 -12,656 +6.2% Gross
Slide 53: CPBS – Commercial & Personal Banking in France – 9M22
CPBS – Commercial & Personal Banking in France – 9M22 3Q22 3Q21 3Q22 / 2Q22 3Q22 / 9M22 9M21 9M22 / €m 3Q21 2Q22 9M21 1 Commercial & Personal Banking in France Revenues 1,669 1,574 +6.0% 1,728 -3.5% 5,010 4,661 +7.5% incl. net interest income 899 859 +4.7% 919 -2.2% 2,666 2,516 +5.9% incl. fees 769
Slide 54: CPBS – Commercial & Personal Banking in France Volumes
CPBS – Commercial & Personal Banking in France Volumes 3Q22 %Var/3Q21 %Var/2Q22 9M22 %Var/9M21 Average outstandings (€bn) LOANS 211.6 +5.9% +1.9% 207.4 +4.3% Individual Customers 111.4 +4.7% +1.2% 109.9 +5.5% Incl. Mortgages 99.8 +4.6% +1.2% 98.6 +5.6% Incl. Consumer Lending 11.6 +5.3% +1.2% 11.4 +5
Slide 55: CPBS – BNL banca commerciale – 9M22
CPBS – BNL banca commerciale – 9M22 3Q22 3Q21 3Q22 / 2Q22 3Q22 / 9M22 9M21 9M22 / €m 3Q21 2Q22 9M21 1 BNL bc Revenues 652 667 -2.2% 671 -2.8% 1,978 2,012 -1.7% incl. net interest income 382 385 -0.8% 387 -1.4% 1,149 1,169 -1.7% incl. fees 271 282 -4.1% 284 -4.8% 829 843 -1.6% Operating Expenses and
Slide 56: CPBS – BNL banca commerciale Volumes
CPBS – BNL banca commerciale Volumes 3Q22 %Var/3Q21 %Var/2Q22 9M22 %Var/9M21 Average outstandings (€bn) LOANS 79.1 +3.2% +1.2% 78.6 +2.7% Individual Customers 38.5 +1.5% +0.5% 38.2 +1.1% Incl. Mortgages 27.5 +4.2% +1.0% 27.1 +4.0% Incl. Consumer Lending 5.0 +3.9% +0.4% 4.9 +2.4% Corporates 40.6 +5.0
Slide 57: CPBS – Commercial & Personal Banking in Belgium – 9M22
CPBS – Commercial & Personal Banking in Belgium – 9M22 3Q22 3Q21 3Q22 / 2Q22 3Q22 / 9M22 9M21 9M22 / €m 3Q21 2Q22 9M21 1 Commercial & Personal Banking in Belgium Revenues 917 933 -1.7% 965 -5.0% 2,817 2,655 +6.1% incl. net interest income 636 649 -2.0% 677 -6.1% 1,945 1,823 +6.7% incl. fees 281 284
Slide 58: CPBS – Commercial & Personal Banking in Belgium Volumes
CPBS – Commercial & Personal Banking in Belgium Volumes 3Q22 %Var/3Q21 %Var/2Q22 9M22 %Var/9M21 Average outstandings (€bn) LOANS 136.9 +15.4% +1.9% 133.9 +14.8% Individual Customers 87.8 +16.3% +1.4% 86.6 +15.8% Incl. Mortgages 65.1 +18.2% +1.4% 64.5 +18.1% Incl. Consumer Lending 0.3 +14.6% -18.9% 0
Slide 59: CPBS – Commercial & Personal Banking in Luxembourg – 9M22
CPBS – Commercial & Personal Banking in Luxembourg – 9M22 3Q22 3Q21 3Q22 / 2Q22 3Q22 / 9M22 9M21 9M22 / €m 3Q21 2Q22 9M21 1 Commercial & Personal Banking in Luxembourg Revenues 116 107 +8.4% 114 +2.2% 345 314 +9.8% incl. net interest income 94 86 +9.3% 90 +4.3% 272 252 +7.8% incl. fees 22 21 +4.7% 2
Slide 60: CPBS – Commercial & Personal Banking in Luxembourg Volumes
CPBS – Commercial & Personal Banking in Luxembourg Volumes Average outstandings (€bn) 3Q22 %Var/3Q21 %Var/2Q22 9M22 %Var/9M21 LOANS 13.0 +6.4% +0.8% 12.9 +6.8% Individual Customers 8.1 +3.8% +0.9% 8.1 +4.1% Corporates and Local Governments 4.9 +11.1% +0.7% 4.8 +11.5% DEPOSITS AND SAVINGS 31.0 +8.9%
Slide 61: CPBS – Europe-Mediterranean – 9M22
CPBS – Europe-Mediterranean – 9M22 3Q22 3Q21 3Q22 / 2Q22 3Q22 / 9M22 9M21 9M22 / €m 3Q21 2Q22 9M21 1 Europe-Mediterranean Revenues 607 511 +18.8% 566 +7.2% 1,812 1,491 +21.5% incl. net interest income 488 401 +21.7% 455 +7.3% 1,462 1,150 +27.1% incl. fees 118 109 +8.1% 111 +6.7% 350 342 +2.4% Operat
Slide 62: CPBS – Europe-Mediterranean Volumes and risks
CPBS – Europe-Mediterranean Volumes and risks %Var/3Q21 %Var/2Q22 %Var/9M21 at constant at constant at constant scope and scope and scope and 3Q22 historical historical 9M22 historical exchange exchange exchange Average outstandings (€bn) rates rates rates n.s. n.s. n.s. n.s. n.s. n.s. LOANS 35.4 +1
Slide 63: CPBS – BancWest – 9M22
CPBS – BancWest – 9M22 3Q22 3Q21 3Q22 / 2Q22 3Q22 / 9M22 9M21 9M22 / €m 3Q21 2Q22 9M21 1 BancWest Revenues 733 588 +24.6% 657 +11.6% 2,009 1,801 +11.6% incl. net interest income 615 493 +24.9% 542 +13.4% 1,676 1,524 +10.0% incl. fees 118 96 +23.4% 114 +3.0% 332 276 +20.2% Operating Expenses and Dep.
Slide 64: CPBS - BancWest Volumes
CPBS - BancWest Volumes %Var/3Q21 %Var/2Q22 %Var/9M21 at constant at constant at constant scope and scope and scope and 3Q22 historical historical 9M22 historical exchange exchange exchange Average outstandings (€bn) rates rates rates ns n.s. ns ns ns ns LOANS 58.6 +20.6% +3.0% +6.8% +0.9% 54.9 +11.
Slide 65: CPBS – Specialised Businesses – Personal Finance – 9M22
CPBS – Specialised Businesses – Personal Finance – 9M22 3Q22 3Q21 3Q22 / 2Q22 3Q22 / 9M22 9M21 9M22 / €m 3Q21 2Q22 9M21 Personal Finance Revenues 1,345 1,271 +5.8% 1,371 -1.9% 4,104 3,922 +4.7% Operating Expenses and Dep. -689 -644 +7.0% -718 -4.1% -2,183 -2,094 +4.2% Gross Operating Income 656 627
Slide 66: CPBS – Personal Finance Volumes and risks
CPBS – Specialised Businesses – Personal Finance Volumes and risks %Var/3Q21 %Var/2Q22 %Var/9M21 at constant at constant at constant scope and scope and scope and 3Q22 historical historical 9M22 historical exchange exchange exchange Average outstandings (€bn) rates rates rates TOTAL CONSOLIDATED OUT
Slide 67: CPBS – Specialised Businesses – 9M22 Arval & Leasing Solutions
CPBS – Specialised Businesses – 9M22 Arval & Leasing Solutions 3Q22 3Q21 3Q22 / 2Q22 3Q22 / 9M22 9M21 9M22 / €m 3Q21 2Q22 9M21 Arval & Leasing Solutions Revenues 874 658 +32.9% 895 -2.2% 2,580 1,966 +31.2% Operating Expenses and Dep. -341 -314 +8.6% -341 -0.1% -1,048 -971 +8.0% Gross Operating Incom
Slide 68: CPBS – Specialised businesses Arval & Leasing Solutions
CPBS – Specialised businesses Arval & Leasing Solutions Arval %Var/3Q21 %Var/2Q22 %Var/9M21 at constant at constant at constant 3Q22 9M22 scope and scope and scope and historical historical historical exchange exchange exchange Average outstandings (€bn) rates rates rates Consolidated Outstandings 2
Slide 69: CPBS – Specialised Businesses – 9M22 New Digital Businesses and Personal Investors
CPBS – Specialised Businesses – 9M22 New Digital Businesses and Personal Investors 3Q22 3Q21 3Q22 / 2Q22 3Q22 / 9M22 9M21 9M22 / €m 3Q21 2Q22 9M21 1 New Digital Businesses & Personal Investors Revenues 197 177 +11.4% 217 -9.1% 619 560 +10.5% Operating Expenses and Dep. -149 -130 +14.9% -139 +7.0% -4
Slide 70: CPBS – Specialised Businesses New Digital Businesses and Personal Investors
CPBS – Specialised Businesses New Digital Businesses and Personal Investors Nickel • 2.9 million accounts opened1 as of the end of September 2022 (+26.9% vs. 30.09.21) Floa • Consolidation of 50% of Floa effective 01.02.22 • 4 million customers as at the end of September 2022 (+14.8% vs. 30.09.21) P
Slide 71: IPS – Investment & Protection Services – 9M22
IPS – Investment & Protection Services – 9M22 3Q22 3Q21 3Q22 / 2Q22 3Q22 / 9M22 9M21 9M22 / €m 3Q21 2Q22 9M21 Investment & Protection Services Revenues 1,632 1,498 +8.9% 1,723 -5.3% 5,005 4,836 +3.5% Operating Expenses and Dep. -1,087 -1,038 +4.8% -1,068 +1.8% -3,206 -3,054 +5.0% Gross Operating Inc
Slide 72: IPS – Insurance – 9M22
IPS – Insurance – 9M22 3Q22 3Q21 3Q22 / 2Q22 3Q22 / 9M22 9M21 9M22 / €m 3Q21 2Q22 9M21 Insurance Revenues 658 613 +7.2% 787 -16.5% 2,166 2,171 -0.3% Operating Expenses and Dep. -391 -376 +4.0% -396 -1.2% -1,171 -1,126 +4.0% Gross Operating Income 267 237 +12.3% 391 -31.8% 995 1,046 -4.8% Cost of Ris
Slide 73: IPS – Wealth & Asset Management – 9M22
IPS – Wealth & Asset Management – 9M22 3Q22 3Q21 3Q22 / 2Q22 3Q22 / 9M22 9M21 9M22 / €m 3Q21 2Q22 9M21 Wealth and Asset Management Revenues 974 885 +10.1% 936 +4.1% 2,839 2,665 +6.5% Operating Expenses and Dep. -696 -662 +5.2% -672 +3.5% -2,035 -1,928 +5.6% Gross Operating Income 278 223 +24.6% 264
Slide 74: IPS – Insurance and WAM Business activity
IPS – Insurance and WAM1 Business activity %Var/ %Var/ 30.09.22 30.09.21 30.06.22 €bn 30.09.21 30.06.22 Assets under management (€bn) 1,175.5 1,220.3 -3.7% 1,197.6 -1.8% Insurance 248.4 276.8 -10.3% 255.2 -2.6% Wealth Management 407.7 411.9 -1.0% 411.4 -0.9% AM+RE+PI 519.3 531.6 -2.3% 531.0 -2.2% As
Slide 75: IPS – Insurance & WAM
IPS – Insurance & WAM1 Insurance and WAM Asset Management Breakdown in assets by client segment Breakdown in AuM as at 30.09.22 €1,220bn €1,175bn Alternatives and others 8% 28% Corporates & 27% Bonds Institutionals 27% Diversified 27% 52% 53% Individuals Money-market 57% 16% 20% External 20% Equiti
Slide 76: 3Q22 – Corporate Centre
3Q22 – Corporate Centre 3Q22 3Q21 3Q22 / 2Q22 3Q22 / 9M22 9M21 9M22 / €m 3Q21 2Q22 9M21 Corporate Center Revenues -46 -10 n.s. -50 -7.9% -30 313 n.s. Operating Expenses and Dep. -199 -178 +11.7% -168 +18.2% -878 -639 +37.4% Incl. Restructuring, IT Reinforcement and Adaptation Costs -129 -62 n.s. -11
Slide 77: 9M22 – Corporate Centre
9M22 – Corporate Centre Revenues • Revaluation of proprietary credit risk included in derivatives (DVA) (+€202m), offset by a negative non- recurring item in 1Q22 • Reminder 9M21: +€58m capital gain on the sale of 4.99% in SBI Life Operating expenses • Increase in taxes subject to IFRIC 211 in 1Q22
Slide 78: Appendices
GROUP RESULTS DIVISION RESULTS CONCLUSION 9M22 & 3Q22 DETAILED RESULTS APPENDICES
Slide 79: Number of Shares and Earnings per Share
Number of Shares and Earnings per Share Number of Shares in millions 30-Sep-22 30-Sep-21 Number of Shares (end of period) 1,234 1,250 Number of Shares excluding Treasury Shares (end of period) 1,233 1,246 Av erage number of Shares outstanding ex cluding Treasury Shares 1,233 1,248 Reminder: cancella
Slide 80: Capital Ratios and Book Value Per Share
Capital Ratios and Book Value Per Share Capital Ratios 30-Sep-22 31-Dec-21 30-Sep-21 Total Capital Ratio (a) 15.9% 16.4% 16.6% Tier 1 Ratio (a) 13.5% 14.0% 14.3% Common equity Tier 1 ratio (a) 12.1% 12.9% 13.0% (a) CRD4, on risk-w eighted assets of €766 bn as at 30.09.22, €714bn as at 31.12.21 and €
Slide 81: Return on Equity and Permanent Shareholders' Equity
Return on Equity and Permanent Shareholders’ Equity Calculation of Return on Equity in millions of euros 30-Sep-22 30-Sep-21 Net income Group share 8,046 7,182 (1) Ex ceptional items (after tax ) (a) -383 307 (2) of which exceptional items (not annualised) -159 455 (3) of which IT reinforcement and
Slide 82: A Solid Financial Structure
A Solid Financial Structure Doubtful loans/gross outstandings 30-Sep-22 30-Sep-21 Doubtful loans (a) / Loans (b) 1.7% 2.0% (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 83: Common Equity Tier 1 ratio
Common Equity Tier 1 ratio Basel 3 Common Equity Tier 1 ratio1 (Accounting capital to prudential capital reconciliation) €bn 30-Sep-22 30-Jun-22 Consolidated Equity 125.4 120.5 Undated super subordinated notes -10.8 -7.9 2021 net income distribution project 0.0 0.0 2022 net income distribution proje
Slide 84: 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; €6.6bn already issued2 of which • Non Preferred Senior debt: ~ €15bn; €12.7bn already issued2 the following main benchmark trades: of which the followi
Slide 85: TLAC ratio
TLAC ratio: ~460bps above the requirement without calling on the Preferred Senior debt allowance 26.7% TLAC requirement as at 30.09.22: 22.12% of RWA 22.12% BNP Paribas • Including capital conservation buffer, G-SIB buffer, TLAC ratio countercyclical capital buffer (4 bps as of 3Q22) and TLAC as at
Slide 86: Distance to MDA restrictions
Distance to MDA restrictions Reminder: Pillar 2 is composed of: Capital requirements as at 30.09.221 “Pillar 2 Requirement” (public), applicable to CET1, Tier 1 and Countercyclical buffer and Systemic risk buffer Total Capital ratios G-SIB buffer “Pillar 2 Guidance” (not public), not applicable
Slide 87: 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 bps) 2019 2020 1Q21 2Q21 3Q21 4Q21 2021 1Q22 2Q22 3Q22 Commercial, Personal Banking & Services1 Loan outstandings as of the beg. of the quarter (€bn) 603.3 620.6 625.0 624.4
Slide 88: 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 bps) 2019 2020 1Q21 2Q21 3Q21 4Q21 2021 1Q22 2Q22 3Q22 Commercial & Personal Banking outside the Euro Zone1 Loan outstandings as of the beg. of the quarter (€bn) 95.8 95.3 8
Slide 89: Risk-Weighted Assets
Risk-Weighted Assets Basel 3 Risk-Weighted Assets1: €766bn as at 30.09.22 (€756bn as at 30.06.22) The +€10bn change is mainly explained by: • +€9bn increase in credit risk • +€3bn increase in counterparty risk • -2€bn decrease in market risk bn€ 30.09.22 30.06.22 Credit risk 591 581 Operational Risk
Slide 90: Basel 3 risk-weighted assets by business as at 30.09.22
Basel 31 risk-weighted assets by business as at 30.09.22 Other Activities: 4% CPBF: 13% CPBS: 56% Global Markets & Securities Services: 14% BNL bc: 6% Commercial & Personal CIB: 34% Banking in the Euro zone: 27% CPBB: 7% Global Banking: 20% CPBL: 1% Europe-Mediterranean: 7% Commercial & Personal Ban