BNP Paribas Group: Results as at 31 December 2023
In 2023 UKRSIBBANK’s shareholder BNP Paribas Group achieved growth of financial results thanks to diversified and integrated business model. The total distributable Net Income of UKRSIBBANK’s shareholder amounted to €11,232m, showing an increase of 10.2% compared to 2022.
Solid performance creating value for all its stakeholders.
- Distributable Net Income1 of €11.232m (+10.2% vs. 2022 reported), in line with the 2023 objective.
2023 Net Income, Group share reported: €10.975m - Revenue growth1, positive jaws effect1, and low cost of risk.
- 18% increase in net earnings per share2 (€9.21), boosted by 2023 share buyback programme, and 60% shareholder return3.
— 2023 dividend: €4.60 in cash4, up by 18% compared to 2022;
— €1.05bn share buyback programme in 20244. - Solid financial structure (13.2%5 CET1 ratio, +90 bps vs. 31.12.22).
- Redeployment of capital well underway, with a disciplined approach.
- Acceleration in financing low-carbon energies.
- Widespread adoption of AI and gearing up on generative AI.
On the strength of its diversified, integrated and scaled-up model, and thanks to the mobilization and strong commitment of the teams at the service of clients, BNP Paribas will continue to grow faster than its underlying economy.
BNP Paribas achieved a very good performance in 2023 that reflects the solidity of our diversified model, the efficiency of our platforms, and the Group’s ability to continue its development in order to address the needs of its individual, corporate and institutional clients. On the strength of our teams’ mobilisation and expertise and our technological advances, BNP Paribas will continue to grow and gain market share. 2023 also featured a strong acceleration in financing the production of low-carbon energies while exiting the financing of the production of fossil fuels in order to contribute towards transitioning our economies and our societies. Alongside all our teams, whom I wish to thank for their commitment, we remain focused on our mission of supporting clients and partners on a long term basis and, more broadly, of serving the European economy.
1 Based on distributable Net Income serving as the basis for calculating the 2023 distribution and reflecting the Group`s intrinsic performance post impact of the sale of Bank of the West and post contribution to the ramp-up of the Single Resolution Fund (SRT) and excluding extraordinary items as detailed on slide 11 of the 2023 results presentation – Variations calculated on this basis;
2 Distributable earnings per share at end of period;
3 After taking remuneration of TSSDI (undated super-subordinated notes) into account;
4 Subject to the approval of the General Meeting of 14 May 2024 (for the dividend) and to ECB authorization (for the share buyback programme);
5 CRD5, including IFRS 9 transitional arrangements.
Read the full press release: BNP Paribas Group: Results as at 31 December 2023 – BNP Paribas