BNP Paribas Financial result 3Q2020

The economic recovery was gradual in the third quarter and occurring with differentiated momentum from one region, and one sector, to another. Against this backdrop, BNP Paribas has benefited from its resilient model during various phases of the crisis and demonstrated a good sales and marketing drive, backed by its diversification in terms of business, region and sector, its positioning on the most resilient sectors and client segments and its continued adaptation to the health conditions:

  • All in all, revenues, at 10,885 million euros, were stable (-0.1%) compared to the third quarter 2019 at historical scope and exchange rates, and were up by 2.1% at constant scope and exchange rates
  • 3Q20: very good resilience of results. Stable revenues vs. 3Q19
  • Significant decrease in operating expenses – positive jaws effect. Operating expenses: -3.8% vs. 3Q19
  • Strong growth in gross operating income. Gross operating income: +7.9% vs. 3Q19
  • Increase in cost of risk vs. 3Q19 due to the health crisis 57bps
  • Very good resilience in net income. Net income 3Q20 1 898 M euro (-2.3% vs. 3Q19)
  • Increase in CET1 ratio. CET1 ratio 12.6%
    9M20 NET income 5475 M euro (-13.4% vs. 9M19)

Ahead of 2020 Net Income outlook.

Commenting on these results, Chief Executive Officer Jean-Laurent Bonnafé stated at the end of the meeting: “In an economic context featuring different dynamics across regions and sectors, BNP Paribas demonstrates its high resilience thanks to its financial solidity, its diversification, and the power of execution of its platforms. I would like to salute the tireless efforts of all our teams who have supported our clients since the beginning of the crisis, while helping the economy and the acceleration of its ecological transition. The Group continues to pursue its actions, commitments to solidarity and its contribution to mitigating the impact of this crisis as much as possible. In these extraordinary times, as an essential service, BNP Paribas continues to adapt to its environment and organises its activities to support clients whilst protecting its employees and remains focused on the success of a solid and sustainable economy, across all geographies.”

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