BNP Paribas Group: Results as at 30 July 2020
Board of Directors of BNP Paribas met on 30 July&nbsol2020. Jean Lemierre chaired the meeting and the Board examined the Group’s results for the second quarter 2020 and endorsed the interim financial statements for the first half of the year.
2q20: BNP Paribas confirms the strength of its integrated and diversified model
Increase in revenues
Decrease in operating expenses
Strong growth in gross operating income
Increase in cost of risk due in particular to ex-ante provisioning of expected losses
Good level of income in a context marked by the health crisis net income
INCREASE IN CET1 RATIO:
Commenting on these results, Chief Executive Officer Jean-Laurent Bonnafé stated at the end of the meeting::
“Our diversified banking model has proven its effectiveness in supporting clients and the economy in front of an unprecedented health crisis. BNP Paribas was able to quickly mobilise its teams, resources and expertise to meet the needs of its clients across Europe and beyond.
This ability to broadly finance the economy is the result of long-term work undertaken by the Group to serve its individual, corporate and institutional clients. It is a reflection of its financial soundness, the diversification and integration of its businesses, its close relationships with its clients, its prudent risk management and the execution power of its platforms.
Alongside all the teams at BNP Paribas, whose exceptional mobilisation to support the economy and society I would like to salute, we stand by our clients to limit the economic and social impact of the crisis. All our forces remain mobilised to ensure a solid and sustainable economic recovery.”