Bnp Paribas S.a. Class A · EURONEXT:BNP
Bnp Paribas S.a. Class A — Bnp Paribas Ord — Q1 2025 Earnings Presentation
30 slides from Bnp Paribas S.a. Class A's earnings presentation, Apr 24, 2025
Slide 1: Results 1st Quarter 2025
RESULTS 1ST QUARTER 2025 24 APRIL 2025 31.03.2025 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 31.03.2025 Results | 3
Slide 4: Our operating divisions delivered a very strong performance
1ST QUARTER 2025 | Our operating divisions delivered a very strong performance Chg. vs. 1Q25 (€m) 1Q24 Strong revenue growth ⎯ Revenues 12,960 +3.8% Operating divisions: +6.1% vs.1Q24 • A record quarter at CIB (+12.5%) • Good performance at CPBS (+1.2%) • Excellent quarter at IPS (+6.6%) Cost contro
Slide 5: We confirm our 2024-2026 growth and profitability trajectory
OUTLOOK | We confirm our 2024-2026 growth and profitability trajectory 1 Revenues 2 Jaws effect 3 Cost of risk1 4 Net income2 5 EPS3 CET1 ratio, pre-FRTB > +5% ~+1.5 pts > +7% > +8% ~12.3% < 40 bps 24-26 CAGR4 on average per year 24-26 CAGR4 24-26 CAGR4 ⎯ Our growth levers are in place Ambition RoTE
Slide 6: Our three divisions contribute to our growth trajectory
Our three divisions contribute to our growth trajectory by perfectly positioning us to OUTLOOK | support a Europe that is reinvesting ⎯ Our scaled-up platforms perfectly position us to support ⎯ Our three divisions contribute to our 2024-2026 growth trajectory a Europe that is reinvesting Revenues (
Slide 7: Through-the-cycle resilience and prudent risk management
Our through-the-cycle resilience and our prudent risk management are advantages OUTLOOK | in an uncertain environment ⎯ Our resilient model combines regular growth with ⎯ Our prudent through-the-cycle risk management… distributions to shareholders… Dividends (in €) Cost of risk3 / GOI (%) CAGR1: +10
Slide 8: Section 2: 1Q25 results Group
SECTION 2 1Q25 results Group 31.03.2025 Results | 8
Slide 9: Profit & loss statement
PROFIT & LOSS STATEMENT Profit & loss statement (€m) 1Q25 1Q24 Chg. vs. 1Q24 12,960 12,483 +3.8% Net banking income (NBI) -8,257 -7,937 +4.0% Operating expenses 4,703 4,546 +3.5% Gross operating income -766 -640 +19.7% Cost of risk Other net losses for risks on financial instruments1 -15 -5 n.s. 3,9
Slide 10: Exceptional items
EXCEPTIONAL ITEMS Exceptional items (€m) 1Q25 1Q24 Total revenues (a) _ _ Restructuring costs and adaptation costs (Corporate Centre) -22 -29 IT reinforcement costs (Corporate Centre) -85 -74 Total operating expenses (b) -106 -103 Reconsolidation of activities in Ukraine1 (Corporate Centre) +226 Cap
Slide 11: Revenues: solid business performance in each division
REVENUES | 1Q25 is driven by solid business performance in each division ⎯ Group ⎯ Corporate & Institutional ⎯ Commercial, Personal Banking & ⎯ Investment & Protection Banking Services2 Services +1.2% Commercial & Specialised Personal Businesses +3.8% +12.5% Banking +4.2% -3.6% +6.6% 12,483 12,960 5
Slide 12: Operational efficiency: positive jaws effect
OPERATIONAL EFFICIENCY | Positive jaws effect at Commercial & Personal Banking, CIB and IPS ⎯ Group ⎯ Corporate & Institutional ⎯ Commercial, Personal Banking & ⎯ Investment & Protection Banking Services2 Services Commercial & +2.0% Specialised +4.0% Personal Banking Businesses 7,937 8,257 +8.1% +2.
Slide 13: Cost savings in line with announced trajectory
OPERATIONAL EFFICIENCY | Cost savings achieved are in-line with the announced trajectory ⎯ 1Q25 operating efficiency measures helped absorb the impact of ⎯ We confirm our jaws effect target of +1.5 pts on average inflation. The jaws effect of operating divisions stands at +1.9 pts per year in 2025 a
Slide 14: Cost of risk kept under control
Cost of risk is kept under control thanks to the quality and diversification COST OF RISK | of the credit portfolio ⎯ 1Q25 illustrates our prudent and proactive risk culture ⎯ Limited exposure to sensitive sectors Commercial real estate: Cost of risk1 / €18.4bn • 3.7% of total gross exposure2, Stock
Slide 15: Risk remained low in 1Q25 across all business lines
COST OF RISK | Risk remained low in 1Q25 across all business lines Cost of risk1 / customer loans outstanding (start-of-period (bps)), 100% Private Banking for Commercial and Personal Banking ⎯ CPBF ⎯ CPBB • €125m (+€9m vs. 1Q24) • -€13m (-€41m vs. 41 • Stable specific provisions 1Q24) 29 33 21 21 2
Slide 16: Capital and liquidity: robust financial structure
CAPITAL AND LIQUIDITY | Our financial structure and liquidity position are robust ⎯ Evolution of the CET1 ratio between 31.12.2024 and 31.03.2025 Sensitivity to a US$/€ CET1 FL depreciation of 5% <-1bp CET1 12.4% as of 31.03.25 12.9% +30 bp 12.4% -20 bp ~-50 bp -10 bp 10.42% CET1 excl. FRTB 12.3% in
Slide 17: Sustainable development: supporting clients' transition investments
SUSTAINABLE DEVELOPMENT | We support our clients in their investments for the transition ⎯ CIB: Agreement with the EIB on wind energy investments ⎯ CPBS: BNP Paribas 3-Step IT – New refurbishment facility in France Creation of a new IT Objective to generate up to €8bn in investments refurbishment &
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: Operating Divisions
SECTION 3 1Q25 Results & Outlook Operating Divisions 31.03.2025 Results | 19
Slide 20: CIB: 1Q25 is a record-breaking quarter
CIB | 1Q25 is a record-breaking quarter CIB (M€) 1Q25 1Q24 Var. • Global Banking – NBI: €1,619m (+4.5% vs. 1Q24) Revenues (NBI) 5,283 4,696 +12.5% • Global Markets – NBI: €2,871m (+17.3% vs. 1Q24) Operating expenses -2,962 -2,741 +8.1% FICC: €1,684m (+4.4% vs. 1Q24) Gross Operating Income 2,321 1,95
Slide 21: CIB outlook: gaining market share
We are gaining market share with a unique franchise and low risk profile while CIB OUTLOOK | constantly optimising our RWA consumption ⎯ Proven growth potential with expansion 2x faster than the ⎯ We have improved operating efficiency while ensuring market since 2020 necessary investments 1Q25: 12.5
Slide 22: CPBS: good business performance across all business lines
CPBS | Good business performance across all business lines in 1Q25, driving growth in pre-tax income • CPBS – NBI: €6,532m €m 1Q25 1Q24 Var. • Commercial & Personal Banking – NBI: €4,190m (+4.2% vs. 1Q24) Revenues 6,532 6,452 +1.2% Operating Expenses and Dep. -4,388 -4,303 +2.0% • Commercial & Perso
Slide 23: CPBS outlook: favourable interest-rate environment
CPBS We will benefit from a more favourable interest-rate environment for Commercial & OUTLOOK | Personal Banking and from the positive effects of the CPBF* and PF plans ⎯ In addition to fees, expected revenue growth in ⎯ The CPBF* and PF plans will have an expected impact on Commercial & Personal B
Slide 24: IPS: net asset inflows and strong revenue increase
IPS | Good dynamic in net asset inflows and strong increase in revenues in 1Q25 €m 1Q25 1Q24 Var. • Insurance – NBI: €568m (+4.1% vs. 1Q24) Revenues 1,496 1,403 +6.6% Operating Expenses and Dep. -907 -883 +2.7% • Wealth Management – NBI: €458m (+10.7% vs. 1Q24) Gross operating profit 589 521 +13.2%
Slide 25: IPS outlook: organic growth and AXA IM project
Continued the strong organic growth in these highly profitable businesses with further IPS OUTLOOK | acceleration coming from external growth projects ⎯ IPS is a growing, highly profitable division ⎯ The planned AXA IM acquisition3 and partnership with AXA repositions IPS strategically within the Gr
Slide 26: Conclusion
CONCLUSION The first quarter 2025 performance of our operating divisions is in line with the projected 2024-2026 growth trajectory thanks to our dedicated teams and the strength of our platforms We confirm our 2026 targets Strong growth levers are already in place for 2026 and beyond Our diversified
Slide 27: Endnotes (1/2)
ENDNOTES (1/2) • Slide 4 • Slide 11 1. Cost of risk does not include “Other net losses for risks 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 12 • Slide 5 1. Corporat
Slide 28: Endnotes (2/2)
ENDNOTES (2/2) • Slide 20 1. Assets under custody (AuC) and under administration (AuA) • Slide 21 1. Source: Coalition Greenwich Competitor Analytics, FY16-FY24F. Global CIB revenues in EUR excluding Portfolio Management, rebased to 100 in 2016. FY24F as of December 19th, 2024. Analysis based on Coa
Slide 29: Appendices: presentation contents
APPENDICES | Presentation contents – Details by division and other items ⎯ Details by division (1Q25) ⎯ Other items ⎯ CIB • Corporate Centre • Global Banking • Taxes and contributions subject to IFRIC 21 • Global Markets • Number of shares and Earnings Per Share • Securities Services • Book value pe
Slide 30: Contacts and upcoming events
CONTACTS AND UPCOMING EVENTS ⎯ Investor Relations ⎯ Upcoming events Bénédicte Thibord, Head of Investor Relations and Financial 13 May 2025 – Annual General Meeting Information 19 May 2025 – 2024 Dividend detachment date Equity 21 May 2025 – 2024 Dividend payment date Raphaëlle Bouvier-Flory Lisa Bu