UKRSIBBANK’s shareholder BNP Paribas Group presented financial results as at 30 June 2023
UKRSIBBANK’s shareholder BNP Paribas Group presented financial results as at 30 June 2023
In the II quarter of 2023, BNP Paribas Group achieved a very good performance thanks to the solidity of its diversified model, the efficiency of its platforms, and the Group’s capacity to pursue its development, in order to address the needs of its individual, corporate and institutional clients in all phases of the economic cycle.
STRONG ORGANIC GROWTH REVENUE
GROWTH SUPPORTED BY THE STRENGTH OF A DIVERSIFIED MODEL
- Corporate & Institutional Banking (-0.7%¹)
- Commercial, Personal Banking & Services² (+3.5%¹)
- Investment & Protection Services (+0.8%¹) Revenues: +3.3% vs. 2Q22
- Operating expenses: +1.0% vs. 2Q22 excluding exceptional items³
COST OF RISK AT A LOW LEVEL
Cost of risk: 31 bps⁴
SOLID FINANCIAL STRUCTURE
CET1⁵ ratio: 13.6%
STRONG INCREASE IN EARNINGS
2Q23
- Net Income: +16.4% vs. 2Q22 (excluding exceptional items³)
(Reported 2Q23 Net Income: €2,810m, with a high level of total negative exceptional items in 2Q23 (-€723m)) - Organic growth offsetting the impacts of the Bank of the West sale
CONFIRMATION OF THE GROWTH TRAJECTORY IN DISTRIBUTABLE NET INCOME IN 2023
2Q23 distributable Net Income⁶: €3,260m
1H23 distributable EPS⁷: €4.72(+16.8% vs. 1H22)
AUTHORISATION FOR THE 2NDE €2.5BN TRANCHE OF THE SHARE BUYBACK PROGRAMME RECEIVED – LAUNCH OF THE EXECUTION BEGINNING OF AUGUST
1. At constant scope and exchange rates;
2. Including 100% of Private Banking in Commercial & Personal Banking (excluding PEL/CEL effects in France);
3. Excluding exceptional items (of which extraordinary items) and excluding net income from discontinued activities (sale of Bank of the West on 1 February 2023) (+€136m in 2Q22 in accordance with IFRS 5);
4. Cost of risk/customer loans outstanding at the start of the period (in bps);
5. CRD5, including IFRS 9 transitional arrangements;
6. 2Q23 distributable net income, as detailed in slide 45 of the presentation of the 2Q23 results;
7. Earnings per share calculated on the basis of 1H23 distributable income.
BNP Paribas achieved a very good performance in the second quarter, reflecting the solidity of our diversified model, the efficiency of our platforms, and the Group’s capacity to pursue its development, in order to address the needs of its individual, corporate and institutional clients in all phases of the economic cycle. With its «Growth, Technology and Sustainability 2025» strategic plan, the Group continues to develop leading platforms at the service of the European economy, to pursue its technological progress, and to support its clients in their transition towards a more sustainable model. Accordingly, the second quarter was highlighted by a further strengthening of our commitments to the energy transition, which allows us to contribute ever more actively to the transitions of our economies and of our clients. Alongside all our teams, whom I would like to thank for their commitment, we remain focused on our trajectory in continuing to serve our clients and to support the development of their projects over the long term
Full version of the report is available here.