08.05.2015

BNP Paribas Group results as at 31 March 2015

The Group posted a good overall performance in the 1st quarter thanks to the good sales and marketing drive and the strong growth of its operating divisions.

The Group posted a good overall performance in the 1st quarter thanks to the good sales and marketing drive and the strong growth of its operating divisions.

Revenues totalled 11,065 million euros, up 11.6% compared to the first quarter 2014. They included this quarter the impact of an exceptional +37 million euro Own Credit Adjustment (OCA) and own credit risk included in derivatives (DVA). The one-off revenue items for the first quarter 2014 totalled 237 million euros.

Gross operating income was up by 4.5%, at 3,257 million euros. It increased by 20.3% for the operating divisions.

The Group’s cost of risk was down by 3.7%, at 1,044 million euros (61 basis points of outstanding customer loans). It included a one-off 100 million euro provision due to the exceptional situation in Eastern Europe in the first quarter 2014. It was on the whole stable excluding this effect.

The Group generated 1,648 million euros in net income attributable to equity holders (1,403 million euros in the first quarter 2014), up by 17.5% compared to the same period a year earlier.

The Group’s balance sheet is rock-solid. As at 31 March 2015, the fully loaded Basel 3 common equity Tier 1 ratio was 10.3%. The Group’s immediately available liquidity reserve was 301 billion euros (291 billion euros as at 31 December 2014).

The net book value per share was 70.2 euros, representing a compounded annualised growth rate of 7.1% since 31st December 2008.

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