BNP Paribas Group: Results as at 31 March 2020

The Board of Directors of BNP Paribas met on 4 May 2020. The meeting was chaired by Jean Lemierre, and the Board examined the Group’s results for the first quarter 2020.

1q20: excellent business drive in the quarter impacted by an unprecedented health crisis

Good revenue resilience despite an extreme market shock at the end of the quarter

Revenues: -2.3% vs. 1Q19 +2.8% excluding one-off impacts of the health crisis

in 1Q20 (-€568m)

Significant decrease in operating expenses, as planned
operating expenses: -3.5% vs. 1q19

Increase in gross operating income
Gross operating income: +1.3% vs. 1q19

Increase in the cost of risk related to the development of the health crisis
67 bps of which 23 bps (€502m) due to the effects of the health crisis

Good level of results in line with the 2020 objectives, excluding the one-off impacts of the health crisis

Net income group share: €1,282m (-33.2% vs. 1q19)

Very solid balance sheet :

CET1 RATIO: 12.0%

Many countries worldwide that have been hit by the Covid-19 epidemic have taken public health measures to protect their citizens and slow the spread of the virus. The economic and social repercussions have been considerable.

BNP Paribas entered this crisis, benefiting from a diversified and resilient business model, with a solid financial structure (a CET1 ratio of 12.1% and an immediately available liquidity reserve of 309 billion euros as at 31 December 2019), a structural diversification of risks and revenues and strict risk management. Long-term relationships with its clients are at the heart of its model, and integrate the use of high-performance digital solutions.

From a position of robustness, BNP Paribas has been mobilizing its strengths and teams to support individual, corporate and institutional clients during these challenging times.

The Group has thus, within a very short lapse of time, implemented health measures to safeguard the health of its employees and provide all the services that are essential to the continuous functioning of the economy, while expanding the capacities of its information technology networks and upgrading its cybersecurity resources. Entities and their employees have mobilized in all entities and geographies to promote and rapidly deploy the specific solutions necessary to support economic actors and civil society.

Finally, the Group has demonstrated its commitment to a vast and internationally coordinated aid mechanism with a global plan of emergency donations of more than 50 million euros to hospitals, vulnerable persons and youth, and more than 100 million euros in investments to support midcaps, SMEs and the healthcare sector.

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