Bnp Paribas S.a. Class A · EURONEXT:BNP
Bnp Paribas S.a. Class A — Bnp Paribas Ord — Q3 2023 Earnings Presentation
78 slides from Bnp Paribas S.a. Class A's earnings presentation, Oct 26, 2023
Slide 1: Third Quarter 2023 Results
THIRD QUARTER 2023 RESULTS 26 October 2023
Slide 2: Disclaimer
Disclaimer The figures included in this presentation are unaudited. On 2 May 2023, BNP Paribas reported restated quarterly series for 2022 to reflect for each quarter: (i) the application of IFRS 5 relating to disposal groups of assets and liabilities held for sale, following the sale of Bank of the
Slide 3: Highlights 3Q23: Solid results
Highlights 3Q23: Solid results 3Q23 distributable2 Revenue growth supported by the strength of the diversified model Revenues: +4.3% vs. 3Q22 • Corporate & Institutional Banking (+5.1%1) Operating expenses: +3.4% vs. 3Q22 • Commercial, Personal Banking & Services (+6.7%1) • Investment & Protection S
Slide 4: A European leader uniquely positioned to generate solid growth
A European leader uniquely positioned to generate solid growth 18-23 CAGR 21-23 CAGR +3.3% +4.1% Sustained & resilient organic growth Complementary platforms strategically aligned to serve Revenues1 clients throughout the cycle (€) Balanced development and growth potential strengthened by the redepl
Slide 5: 9M23 distributable Net Income in line with the 2023 objective
9M23 distributable Net Income1 in line with the 2023 objective Strong increase in distributable Net Income: a performance reflecting BNP Paribas’ growth potential post Bank of the West sale and post the Single Resolution Fund ramp-up1 +9.5% Organic growth offsetting the Bank of the West sale Anticip
Slide 6: Group Results
GROUP RESULTS OPERATING DIVISIONS RESULTS CONCLUSION 3Q23 & 9M23 DETAILED RESULTS APPENDICES
Slide 7: Main exceptional and extraordinary items – 3Q23
Main exceptional and extraordinary items – 3Q23 €m 3Q23 3Q22 Exceptional items (excl. extraordinary ones) Operating expenses • Restructuring and adaptation costs (Corporate Centre) -40 -32 • IT reinforcement costs (Corporate Centre) -87 -93 Total exceptional operating expenses -127 -125 Cost of risk
Slide 8: 3Q23 – Group consolidated: Solid intrinsic growth
3Q23 – Groupe consolidated Solid intrinsic growth Adjustments 3Q23 to 3Q23 3Q23 vs. 3Q23 3Q22 (distributable2) €m distributable (distributable2) vs. 3Q22 3Q22 net income2 Revenues 11,581 + 44 11,625 11,141 + 4.3% + 4.0% Note: adjustment (+€58m) related in particular to changes in TLTRO’s terms and c
Slide 9: 3Q23 – Revenues: Growth in the operating divisions
3Q23 – Revenues Growth in the operating divisions CIB Corporate & Institutional Commercial, Personal Banking Investment & Protection Operating divisions Banking & Services1 Services +3.0% +5.1% +6.1% +6.7% -2.6% -1.8% +3.7% +4.8% at constant scope and at constant scope and at constant scope and at c
Slide 10: 3Q23 – Operating expenses: Positive jaws effects
3Q23 – Operating expenses Positive jaws effects CIB Corporate & Institutional Commercial, Personal Banking Investment & Protection Operating divisions Banking & Services1 Services +1.7% +5.0% +4.8% +5.2% +0.1% +1.0% +3.2% +4.7% at constant scope and at constant scope and at constant scope and at con
Slide 11: Operational performance & growth at marginal cost in an inflationary context
Operational performance & growth at marginal cost in an inflationary context Development of specialised internal shared service 2022–2025 objective: centres (SSCs) and pooled technical platforms: A positive jaws effect each year 2025 target: 25% increase (5000 FTEs2) in resources in >+2pts on averag
Slide 12: A prudent and diversified risk profile
A prudent and diversified risk profile Proactive and long-term management reflected in a Prudent growth of market activities: stable VaR low cost of risk (a measure of market risk) 8.7 Annual Global Markets revenues In bps / customer loans (€bn) outstanding1 6.8 Guidance 5.7 5.4 66 66 2022-2025 4.7
Slide 13: Cost of risk – 3Q23 (1/2)
Cost of risk – 3Q23 (1/2) Cost of risk / Customer loans outstanding at the beginning of the period (in bps) CIB – Global Banking 80 • Cost of risk: -€46m (+€39m vs. 2Q23; -€162m vs. 3Q22) 20 26 33 • Release of provisions on performing loans (stages 1 & 2) and on 13 19 0 non-performing loans (stage 3
Slide 14: Cost of risk – 3Q23 (2/2)
Cost of risk – 3Q23 (2/2) Cost of risk / Customer loans outstanding at the beginning of the period (in bps) BNL bc1 • Cost of risk: +€98m (+€18m vs. 2Q23; -€15m vs. 3Q22) • Cost of risk at a low level • Significant and constant decrease in the cost of risk on non- 69 62 58 63 57 57 performing loans
Slide 15: 3Q23 – Solid financial structure
3Q23 – Solid financial structure CET1 ratio: 13.4%1 as at 30.09.23 Organic growth: 3Q23 results after taking into account a 60% payout ratio, 13.6% +20 bps net of changes in risk-weighted assets: +20 bps 13.4% Share Impact from the launch of the second tranche of the 2023 buybacks: share buyback
Slide 16: A unique value-creating model
A unique value-creating model Tangible equity per share Earnings per share1 Amount placed into (revalued at the end of period, in €) (€) reserve for distribution (bn€) +33% +53% +72% 7.111 86.3 6.19 5.0 78.7 79.3 4.3 69.7 73.2 5.49 64.8 4.65 4.82 4.12 3.4 2.9 3.0 2.6 2018 2019 2020 2021 2022 30.09.2
Slide 17: Technology at the heart of the GTS 2025 plan
Technology at the heart of the GTS 2025 plan Disciplined investments at the service of technological performance + than 700 use cases ~300 use cases being experimented including Artificial intelligence in production, in line 26 generative AI ones with LLM1 on a secured with the doubling target platf
Slide 18: A clear ambition for a carbon-neutral economy by 2050
A clear ambition for the advent of a carbon-neutral economy by 20501 2010 2016 2017 2018 2019 2020 Coal: 1st policy with Oil & gas: halt to Halt to support of shale PACTA2: agreement on a Seaborne Total halt to financing in the criteria restricting project financing oil & gas, and oil methodology to
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: Operating Divisions Results
GROUP RESULTS OPERATING DIVISIONS RESULTS CONCLUSION 3Q23 & 9M23 DETAILED RESULTS APPENDICES
Slide 21: Corporate & Institutional Banking – 3Q23
Corporate & Institutional Banking – 3Q23 Strong growth in results, positive jaws effect and lower cost of risk Leadership and market share gains: Capital markets: n°1 in EMEA in - #1 in EMEA in capital market revenues1 revenues1 - #1 worldwide and in EMEA in sustainable finance2 Market share by Fina
Slide 22: CIB – Global Banking – 3Q23
CIB – Global Banking – 3Q23 Very good business momentum and very strong increase in revenues Strong growth in revenues (+51% vs. 3Q18) Leadership and market share gains: - Market share gains and European leadership on bond markets and in €m syndicated loans 1,404 1,282 1,171 - Transaction banking: j
Slide 23: CIB – Global Markets – 3Q23
CIB – Global Markets – 3Q23 Revenues supported by the diversified model in a more contrasted environment Revenues trend (+59% vs. 3Q18) Equity markets: sustained activity in equity derivatives and good momentum in prime brokerage volumes €m 1,980 Fixed income, currencies & commodities: slowdown in a
Slide 24: CIB – Securities Services – 3Q23
CIB – Securities Services – 3Q23 Revenues up sharply Assets under custody (AuC) Good business drive supported by a diversified model: and under administration (AuA) Outstandings end of period - New mandates, including a trilateral collateral management in €000bn mandate with UniSuper in Australia 14
Slide 25: Commercial, Personal Banking & Services – 3Q23
Commercial, Personal Banking & Services – 3Q23 Growth in activity and positive jaws effect Loans: +2.1% vs. 3Q22 (+9.5% vs. 3Q21), almost stable in Commercial & Loans6 Personal Banking in the Eurozone (-0.6%), and strong increase in +9.5% Specialised Businesses €bn Deposits: -3.2% vs. 3Q22 (+3.7% vs
Slide 26: CPBS – Commercial & Personal Banking in France – 3Q23
CPBS – Commercial & Personal Banking in France – 3Q23 Good resilience and gradual improvement in margins Loans: -0.2% vs. 3Q22, stable outstandings and further adjustment in margins Strong and distinctive franchises Deposits: -4.5% vs. 3Q22 (-0.5% vs. 2Q23), stabilisation of deposits with margins ho
Slide 27: CPBS – BNL banca commerciale – 3Q23
CPBS – BNL banca commerciale – 3Q23 Strong increase in results Loans: -6.2% vs. 3Q22, -5.0% on the perimeter excluding non-performing Improvement in the cost of risk loans; stable loans to individuals, and a decrease in loans to corporates with an improvement in margins bps Deposits: -2.1% vs. 3Q22;
Slide 28: CPBS – Commercial & Personal Banking in Belgium – 3Q23
CPBS – Commercial & Personal Banking in Belgium – 3Q23 Strong increase in results and very positive jaws effect Loans Loans: +2.1% vs. 3Q22, increase in all segments, including corporate loans +2.1% Deposits: -2.1% vs. 3Q22 (-0.7% excluding the impact of issuance of Belgian government bonds maturing
Slide 29: CPBS – Europe-Mediterranean – 3Q23
CPBS – Europe-Mediterranean – 3Q23 Good resilience of activity Loans: stable1 vs. 3Q22, increased volumes in corporate clients, particularly in Loans1 Poland; prudent and targeted origination in Türkiye and for individual customers in Poland stable Deposits: +4.4%1 vs. 3Q22, driven by the increase i
Slide 30: CPBS – Personal Finance – 3Q23
CPBS – Specialised Businesses – Personal Finance – 3Q23 Ongoing implementation of the transformation Loans: +11.5% vs. 3Q22, strong increase in particular in mobility; Loans improved margins at production vs. 2Q23 despite continued pressure €bn +11.5% Ongoing impacts of the implementation of partner
Slide 31: CPBS – Arval & Leasing Solutions – 3Q23
CPBS – Specialised Businesses – Arval & Leasing Solutions – 3Q23 Very strong performance and positive jaws effect Arval: growth in the financed fleet5 Arval • Strong growth in the financed fleet (+9.7%1 vs. 30.09.22) and still Thousands of vehicles high level of used-car prices CAGR 19-23 • Increase
Slide 32: CPBS – New Digital Businesses and Personal Investors – 3Q23
CPBS – Specialised Businesses – New Digital Businesses and Personal Investors – 3Q23 Businesses driving customer acquisition Nickel, a payment offering accessible to everyone • Continued roll-out in Europe with the launch in Germany after Spain (2021) and, Nickel: expansion in Europe Belgium and Por
Slide 33: Investment & Protection Services – 3Q23
Investment & Protection Services – 3Q23 Good resiliency in contrasted environments Insurance: strong increase in results, supported by Protection and an Assets under management3 increased contribution from partnerships +4.1% Wealth Management: strong growth in revenues and good net asset inflows (+€
Slide 34: IPS – Asset inflows and AuM – 9M23
IPS – Asset inflows and AuM – 9M23 Good net asset inflows, particularly in money-market funds Change in assets under management1 Assets under management: €1,204bn as at 30.09.23 €bn • Market performance effect: +€13.2bn Forex +13.2 effect Others • Net asset inflows: +€23.3bn, good asset inflows, dri
Slide 35: IPS – Insurance – 3Q23
IPS – Insurance – 3Q23 Very strong growth in results Savings: A balanced model • Gross asset inflows of €17.1bn in 9M23 • Positive net asset inflows in France, sustained by asset inflows into unit- Protection: Savings: linked policies 49% 51% Protection: • Good momentum in affinity insurance and in
Slide 36: IPS – Wealth and Asset Management – 3Q23
IPS – Wealth and Asset Management1 – 3Q23 Good resiliency in contrasted environments Wealth Management: good net asset inflows (€4.2bn2 in 3Q23), Wealth Management: strong particularly in Commercial & Personal Banking; margins held up well and growth in GOI5 transaction fees rose Asset Management3:
Slide 37: Conclusion
GROUP RESULTS OPERATING DIVISIONS RESULTS CONCLUSION 3Q23 & 9M23 DETAILED RESULTS APPENDICES
Slide 38: Conclusion
Conclusion A solid intrinsic performance driven by a diversified model and reflected in distributable Net Income1 • Revenue growth (+4.3% vs. 3Q22)1 • Positive jaws effect • Strong increase in pre-tax income (+7.2% vs. 3Q22) 1 • Distributable Net Income in line with the 2023 objective (€2,705m) Prud
Slide 39: 3Q23 & 9M23 Detailed Results
GROUP RESULTS OPERATING DIVISIONS RESULTS CONCLUSION 3Q23 & 9M23 DETAILED RESULTS APPENDICES
Slide 40: 9M23 update: 2025 objectives
9M23 update 9M23 update 2025 objectives (distributable basis2) Net Income >+9% per year +9.5% vs. 9M22 reported 2022-2025 CAGR Jaws effect >2 pts on average1 +4.5 pts3 2022-2025 CAGR positive each year Cost of risk <40 bps each year 33 bps 12.9% in 2024 CET1 ratio 12.0% in 2025 13.4% (Basel 3 finali
Slide 41: Main exceptional and extraordinary items – 3Q23 and 9M23
Main exceptional and extraordinary items – 3Q23 and 9M23 Exceptional items €m 3Q23 3Q22 9M23 9M22 Revenues • Provisions for litigation (Corporate Centre) -125 Total exceptional revenues -125 Operating expenses • Overall adaptation costs related to Personal Finance (Corporate Centre) -236 • Restructu
Slide 42: 3Q23 – BNP Paribas Group
3Q23 – BNP Paribas Group 3Q23 Distributable 3Q22 3Q23 3Q22 3Q23 / 3Q23 3Q22 3Q23 / distributable €m 3Q23 / 3Q22 3Q22 3Q22 (excl. exceptional & extraordinary items) Group Revenues 11,625 11,141 +4.3% 11,581 11,141 +4.0% 11,639 11,141 +4.5% Operating Expenses and Dep. -7,093 -6,860 +3.4% -7,093 -6,860
Slide 43: 9M23 – BNP Paribas Group
9M23 – BNP Paribas Group 9M23 Distributable 9M22 9M23 9M22 9M23 9M23 9M22 9M23 distributable €m 9M23 / 9M22 / 9M22 / 9M22 (excl. exceptional & extraordinary items) Group Revenues 35,925 34,545 +4.0% 34,976 34,545 +1.2% 35,992 34,545 +4.2% Operating Expenses and Dep. -22,271 -22,393 -0.5% -23,173 -22
Slide 44: Calculation of distributable Net Income – 3Q23 & 9M23
Calculation of distributable Net Income – 3Q23 & 9M23 • Offsetting of the extraordinary negative Revenues impact of adjustment of hedges related to the changes in the TLTRO terms and • Impact of the adjustment of hedges +€58m conditions decided by the ECB in 4Q22: • Complementary adjustment -€14m +€
Slide 45: 9M23 – Organic growth supported by operating divisions
9M23 – Groupe BNP Paribas Organic growth supported by the performance of operating divisions The 9M23 organic growth offsets the impact of the Bank of the West sale in millions of euros Net Income, Group share 9M23 reported 9,906 Capital gain on sale of BoW (extraordinary item) 2,947 Exceptional ite
Slide 46: Corporate and Institutional Banking – 9M23
Corporate and Institutional Banking – 9M23 3Q23 3Q22 3Q23 / 9M23 9M22 9M23 / €m 3Q22 9M22 Corporate and Institutional Banking Revenues 3,896 3,783 +3.0% 12,766 12,561 +1.6% Operating Expenses and Dep. -2,368 -2,327 +1.7% -8,083 -7,964 +1.5% Gross Operating Income 1,528 1,456 +4.9% 4,684 4,597 +1.9%
Slide 47: CIB Global Banking – 9M23
Corporate and Institutional Banking Global Banking – 9M23 3Q23 3Q22 3Q23 / 9M23 9M22 9M23 / €m 3Q22 9M22 Global Banking Revenues 1,404 1,171 +19.9% 4,283 3,668 +16.8% Operating Expenses and Dep. -679 -654 +3.8% -2,183 -2,107 +3.6% Gross Operating Income 726 518 +40.1% 2,100 1,561 +34.5% Cost of Risk
Slide 48: CIB Global Markets – 9M23
Corporate and Institutional Banking Global Markets – 9M23 3Q23 3Q22 3Q23 / 9M23 9M22 9M23 / €m 3Q22 9M22 Global Markets Revenues 1,800 1,980 -9.1% 6,476 6,985 -7.3% incl. FICC 1,021 1,156 -11.7% 1 4,053 4,285 -5.4% incl. Equity & Prime Services 779 824 -5.5% 2 2,423 2,701 -10.3% Operating Expenses a
Slide 49: CIB Market risks – 9M23
Corporate and Institutional Banking Market risks – 9M23 Average 99% 1-day interval VaR (Value at Risk) In €m Average VaR stable at a low level1 • A low level but up slightly vs. 2Q23 • No theoretical back-testing event this quarter • 3 theoretical back-testing events over the past 12 months and only
Slide 50: CIB Securities Services – 9M23
Corporate and Institutional Banking Securities Services – 9M23 3Q23 3Q22 3Q23 / 9M23 9M22 9M23 / €m 3Q22 9M22 Securities Services Revenues 691 632 +9.4% 2,007 1,908 +5.2% Operating Expenses and Dep. -526 -513 +2.7% -1,605 -1,550 +3.6% Gross Operating Income 165 119 +38.2% 402 358 +12.2% Cost of Risk
Slide 51: Commercial, Personal Banking & Services – 9M23
Commercial, Personal Banking & Services – 9M23 3Q23 3Q22 3Q23 / 9M23 9M22 9M23 / €m 3Q22 9M22 1 Commercial, Personal Banking & Services Revenues 6,754 6,364 +6.1% 20,202 19,226 +5.1% Operating Expenses and Dep. -3,948 -3,767 +4.8% -12,309 -11,913 +3.3% Gross Operating Income 2,806 2,597 +8.0% 7,893
Slide 52: CPBS – Commercial & Personal Banking in France – 9M23
CPBS – Commercial & Personal Banking in France – 9M23 3Q23 3Q22 3Q23 9M23 9M22 9M23 / €m 3Q22 9M22 %Var/ %Var/ %Var/ 3Q23 9M23 CPBF 1 Average outstandings (€bn) 3Q22 2Q23 9M22 Revenues 1 602 1 656 -3,2% 4 988 4 972 +0,3% LOANS 211,1 -0,2% -0,2% 211,7 +2,1% incl. net interest revenue 834 887 -5,9% 2
Slide 53: CPBS – BNL banca commerciale – 9M23
CPBS – BNL banca commerciale – 9M23 3Q23 3Q22 3Q23 / 9M23 9M22 9M23 / 3Q23 %Var/3Q22 %Var/2Q23 9M23 %Var/9M22 Average outstandings (€bn) €m 3Q22 9M22 1 LOANS 74,2 -6,2% -3,0% 75,9 -3,4% BNL bc Individual Customers 37,5 -2,4% -0,9% 37,9 -0,8% Revenues 660 652 +1,2% 2 023 1 978 +2,3% Incl. Mortgages 2
Slide 54: CPBS – Commercial & Personal Banking in Belgium – 9M23
CPBS – Commercial & Personal Banking in Belgium – 9M23 3Q23 3Q22 3Q23 / 9M23 9M22 9M23 / €m 3Q22 9M22 3Q23 %Var/3Q22 %Var/2Q23 9M23 %Var/9M22 CPBB1 Average outstandings (€bn) Revenues 1 014 917 +10,7% 3 036 2 817 +7,8% LOANS 139,7 +2,1% +0,2% 139,1 +3,9% Individual Customers 78,3 +1,9% +0,3% 78,1 +3
Slide 55: CPBS – Commercial & Personal Banking in Luxembourg – 9M23
CPBS – Commercial & Personal Banking in Luxembourg – 9M23 3Q23 3Q22 3Q23 / 9M23 9M22 9M23 / €m 3Q22 9M22 CPBL1 Average outstandings (€b n) 3Q23 %Var/3Q22 %Var/2Q23 9M23 %Var/9M22 Revenues 152 116 +31,0% 442 345 +28,3% LOANS 13,1 +0,8% +0,2% 13,1 +2,0% incl. net interest revenue 129 94 +37,6% 371 272
Slide 56: CPBS – Europe-Mediterranean – 9M23
CPBS – Europe-Mediterranean – 9M23 3Q23 3Q22 3Q23 / 9M23 9M22 9M23 / €m 3Q22 9M22 1 Europe-Mediterranean Revenues 809 607 +33.3% 2,060 1,812 +13.7% incl. net interest income 682 488 +39.6% 1,730 1,462 +18.4% incl. fees 127 118 +7.2% 329 350 -5.8% Operating Expenses and Dep. -455 -395 +15.3% -1,235 -
Slide 57: CPBS – Europe-Mediterranean Volumes and risks
CPBS – Europe-Mediterranean Volumes and risks Geographical breakdown in %Var/3Q22 %Var/2Q23 %Var/9M22 loans outstanding in 3Q23 at constant at constant at constant Average outstandings (€bn) scope and scope and scope and 3Q23 historical historical 9M23 historical exchange exchange exchange rates rat
Slide 58: CPBS – Personal Finance – 9M23
CPBS – Specialised Businesses – Personal Finance – 9M23 3Q23 3Q22 3Q23 / 9M23 9M22 9M23 / €m 3Q22 9M22 Personal Finance Revenues 1,292 1,345 -3.9% 3,907 4,104 -4.8% Operating Expenses and Dep. -713 -689 +3.5% -2,256 -2,183 +3.4% Gross Operating Income 580 656 -11.7% 1,650 1,922 -14.1% Cost of Risk -
Slide 59: CPBS – Arval & Leasing Solutions – New Digital Businesses
CPBS – Specialised Businesses – 9M23 Arval & Leasing Solutions – New Digital Businesses 3Q23 3Q22 3Q23 / 9M23 9M22 9M23 / 3Q23 3Q22 3Q23 / 9M23 9M22 9M23 / €m €m 3Q22 9M22 3Q22 9M22 Arval & Leasing Solutions New Digital Businesses & Personal Investors1 Revenues 266 197 +35,0% 760 619 +22,9% Revenues
Slide 60: CPBS – Arval & Leasing Solutions and Personal Investors
CPBS – Specialised Businesses – 9M23 Arval & Leasing Solutions and Personal Investors Arval %Var/3Q22 %Var/2Q23 %Var/9M22 at constant at constant at constant 3Q23 9M23 scope and scope and scope and historical historical historical exchange exchange exchange Average outstandings (€bn) rates rates rat
Slide 61: Investment & Protection Services – 9M23
Investment & Protection Services – 9M23 % Var/ % Var/ 3Q23 3Q22 3Q23 9M23 9M22 9M23 / 30.09.23 30.09.22 30.06.23 €bn 30.09.22 30.06.23 €m 3Q22 9M22 Assets under management (€bn) 1 203,9 1 156,6 +4,1% 1 218,4 -1,2% Investment & Protection Services Insurance 244,6 248,4 -1,6% 250,2 -2,3% Revenues 1 42
Slide 62: IPS – Insurance – 9M23
IPS – Insurance – 9M23 3Q23 3Q22 3Q23 / 9M23 9M22 9M23 / €m 3Q22 9M22 Insurance Revenues 536 514 +4.3% 1,617 1,516 +6.6% Operating Expenses and Dep. -202 -199 +1.7% -608 -596 +1.9% Gross Operating Income 334 315 +6.0% 1,009 920 +9.7% Cost of Risk 0 0 n.s. 0 0 n.s. Operating Income 334 315 +6.0% 1,00
Slide 63: IPS – Wealth and Asset Management – 9M23
IPS – Wealth and Asset Management – 9M23 3Q23 3Q22 3Q23 / 9M23 9M22 9M23 / €m 3Q22 9M22 Wealth and Asset Management Revenues 884 944 -6.4% 2,642 2,768 -4.6% Operating Expenses and Dep. -681 -684 -0.4% -2,052 -2,000 +2.6% Gross Operating Income 202 260 -22.2% 590 768 -23.2% Cost of Risk -13 2 n.s. -1
Slide 64: 3Q23 / 9M23 – Corporate Centre: Restatements related to insurance
3Q23 / 9M23 – Corporate Centre Restatements of the volatility and attributable operating expenses related to insurance As of 01.01.23, Corporate Centre includes two restatements related to the application of IFRS 17, alongside the implementation of IFRS 9 for insurance activities1. For a better read
Slide 65: Corporate Centre – 3Q23
Corporate Centre – 3Q23 Excluding the restatements related to insurance activities 3Q23 3Q22 3Q23 / 9M23 9M22 9M23 / €m 3Q22 9M22 Corporate Center excl. restatement related to insurance activities of the volatility (IFRS 9) and attribuable costs (internal distributors) Revenues -65 -43 +51.0% -904 -
Slide 66: Corporate Centre – 9M23
Corporate Centre – 9M23 Excluding the restatements related to insurance activities Revenues • Revaluation of proprietary credit risk included in derivatives (DVA): -€11m (+€202m in 9M22 offset by a negative non- recurring item) • Adjustment in 9M23 of hedges related to changes in TLTRO’s terms & con
Slide 67: Appendices
GROUP RESULTS OPERATING DIVISIONS RESULTS CONCLUSION 3Q23 & 9M23 DETAILED RESULTS APPENDICES
Slide 68: Number of Shares and Earnings per Share
Number of Shares and Earnings per Share Number of Shares in millions 30-Sep-23 30-Sep-22 Number of Shares (end of period) 1,173 1,234 Number of Shares excluding Treasury Shares (end of period) 1,170 1,233 Average number of Shares outstanding excluding Treasury Shares 1,215 1,233 Reminder: Since the
Slide 69: Book value per Share
Book value per Share Book value per Share in millions of euros 30-Sep-23 30-Sep-22 Shareholders' Equity Group share 124,138 120,764 (1) of which changes in assets and liabilities recognised directly in equity (valuation reserve) -3,106 -1,388 of which Undated Super Subordinated Notes 13,473 10,820 (
Slide 70: Return on Equity and Permanent Shareholders' Equity (1/2)
Return on Equity and Permanent Shareholders’ Equity (1/2) Permanent Shareholders’ Equity Group share, not revaluated, used for the calculation of ROE / ROTE (based on reported results) in millions of euros 30-Sep-23 30-Sep-22 Net Book Value 110,544 109,906 (1) of which changes in assets and liabilit
Slide 71: Return on Equity and Permanent Shareholders' Equity (2/2)
Return on Equity and Permanent Shareholders’ Equity (2/2) Calculation of Return on Equity (based on reported results) in millions of euros 30-Sep-23 30-Sep-22 Net income Group share 9,906 8,046 (1) Exceptional and extraordinary items (after tax) (a) 1,587 -383 (2) of which exceptional and extraordin
Slide 72: A Solid Financial Structure
A Solid Financial Structure Doubtful loans/gross outstandings 30-Sep-23 30-Sep-22 Doubtful loans (a) / Loans (b) 1.7% 1.7% 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 amor
Slide 73: 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-23 30-Jun-23 Consolidated Equity 129.3 128.3 Impacts as at 30.06.23 of the remaining portion of the 1st Undated super subordinated notes -13.5 -13.5 tranche of the shar
Slide 74: Medium/Long Term Regulatory Funding
Medium/Long Term Regulatory Funding Continued presence in debt markets ~110% of the regulatory issuance plan realised as at 20 October 2023 2023 MLT regulatory issuance plan1: €18.5bn Capital instruments: €3.5bn1 ; AT1 €4.0bn already issued2 Senior Debt: €15bn1: AT1 : Non-Preferred: €4.3bn already i
Slide 75: TLAC ratio: ~660 bps above the requirement
TLAC ratio: ~660 bps above the requirement without calling on the preferred Senior debt allowance as at 30.09.23 29,0% TLAC requirement as at 30.09.23: 22.41% of RWA 22.41% BNP Paribas TLAC ratio as Including capital conservation buffer, G-SIB buffer, countercyclical capital at 30.09.23 buffer (41 p
Slide 76: Distance to MDA restrictions as at 30.09.23
Distance to MDA restrictions as at 30.09.23 Capital requirements as at 30.09.231: Capital and leverage requirements as at 30.09.231 CET1: 9.79% Pillar 1 G-SIB buffer Tier 1: 11.58% P2R Countercyclical buffer Total Capital: 13.98% Conservation buffer 13.98% Leverage requirement as at 30.09.23:
Slide 77: Basel 3 Risk-Weighted Assets
Basel 3 Risk-Weighted Assets1 Basel 31 assets by business Corporate Centre IPS Specialised 6% Businesses 6% (CPBS) €699bn as at 30.09.23 (€698bn as at 30.06.23) 17% Commercial & €bn 30.09.23 30.06.23 35% Personal 36% Banking CIB (CPBS) Credit risk 533 533 Operational Risk 58 58 Counterparty Risk 47
Slide 78: Liquidity: a diversified base of deposits
Liquidity: a diversified base of deposits and disciplined, prudent and proactive management Favourable positioning and integrated & diversified model supporting stability of resources Base of deposits supported by the Group’s diversification, its Change in HQLA (€bn) long-term approach to clients, a