BNP Paribas Group: financial results as at 30 September 2023
In the IIІ quarter of 2023, distributable net income of UKRSIBBANK’s main shareholder BNP Paribas Group was 2,705 million euros. Distributable net income came to 8,810 million euros in the first nine months of 2023, up sharply by 9.5% compared to the result of the first nine months of 2022.
The Group achieved a solid intrinsic 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 clients.
- A solid intrinsic performance driven by the deversified model and reflected in distributable results1
• Revenues1: +4,3% у порівнянні з 3Q22;
• Operating expenses1: +3,4 у порівнянні з 3Q22;
• Cost of risk1: 33 базисних пункти;
• Pre-tax income1: +7,2% у порівнянні з 3Q22;
• 3Q23 net income1: EUR2,705m. - Increase in revenues2 driven by the strength of deversified model.
• Corporate & institutional Banking (+5,1%);
• Commercial Personal Banking & Services (+6,7%);
• Investment & Protection Services (-1,8%, +5,6%, excluding Real Estate and Principal Investments). - Positive jaws effect.
- Low cost of risk.
- Strong increase in pre-tax income.
- Solid fifncial structure (CET1: 13.4%2).
- Strong growth in distributable net income (+9.5% vs. 9M22 reported)
• 9M23 distributable income: EUR 8,810m (9M23 reported net income: EUR9,906m, including the high impact of exceptional and extraordinary items);
• Strong growth in distributable EPS4 (+14.9% vs. 9M22 reported);
• 9M23 distributable EPS: EUR7.11. - Confirmation of the growth trajectory in distributable1 net income in 2023.
• Result serving as a basis for calculating the 2023 ordinary distribution and reflecting the Group’s intrinsic performance following the impact of the Bank of the West sale and after the contribution to ramping up the Single Resolution Fund, as detailed on slides 8 and 44 of the 3Q23 results presentation – Changes calculated on this basis;
• At constant scope and exchange rates and including 100% of Private Banking for CPBS (excluding PEL/CEL effect in France);
• CRD5, including IFRS 9 transition arrangements;
• Distributable earnings per share at end of period calculated on the basis of 9M23 distributable net income and the end-of-period number of shares outstanding (EUR6.85 based on the average number of shares) as defined on slide 68 of the 3Q23 results presentation.
Read the full press release «BNP Paribas Group: Results as at 30 September 2023».
The Groupe continues to mobilise all its resources and capabilities to serve individuals, corporates, institutionals and, more generally, the European economy. The Group’s good performance in the third quarter demonstrates the solidity of our model and our long-term commitment to support our clients in all phases of the economic cycle. This performance reflects our long-term approach, the efficiency of our platforms, our diversification by business line, geographical region and customer profile, and our proactive and prudent risk management. To meet the challenges of transforming our economies and our societies, the Group and all its business lines continue to implement its climate, biodiversity and social inclusion commitments. I would like to thank the teams in all Group’s business lines and our clients for their trust.