France · Delayed Price · Currency is EUR BNP Paribas Earnings Call Transcripts
Fiscal Year 2026
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A new asset management platform targets doubling pre-tax income by 2030, driven by EUR 350 billion net inflows, cost synergies, and a diversified EUR 1.6 trillion AUM. Strategic focus on alternatives, active management, and ETFs, supported by technology and partnerships, aims to deliver sustainable growth and profitability.
Fiscal Year 2025
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Q4 2025 delivered record net profit and 8% revenue growth, with all divisions contributing and cost of risk remaining low. The group raised its 2028 profitability targets, launched a major transformation plan, and confirmed a 60% payout policy, while maintaining strong capital and asset quality.
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Third quarter results showed 5.3% revenue and 6.1% net profit growth, with strong CIB and IPS performance and a CET1 ratio of 12.5%. The AXA IM integration is on track, expected to deliver significant synergies and boost group profitability, while regulatory headwinds are receding.
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Q2 2025 saw 2.5% revenue growth and strong divisional performance, with net profit for 2025 expected to exceed €12.2 billion, driven by H2 acceleration and AXA IM integration. CET1 remains stable at 12.5%, and cost control measures are on track.
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A new strategic plan targets over 17% pre-tax return on notional equity by 2028, with more than 5% CAGR revenue growth, improved cost-to-income ratio, and a focus on technology, digitalization, and high-value segments. NII rebound, disciplined cost control, and business transformation are key drivers.
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Strong Q1 growth and resilient risk profile underpin confidence in 2024–2026 targets. Expansion in IPS and CIB, focus on core Eurozone personal finance, and upcoming AXA IM integration support further growth. Capitalization and cost control remain robust.
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The meeting confirmed strong 2024 financial results, robust dividend and buyback plans, and strategic growth through acquisitions and AI. All governance, compensation, and bylaw changes were approved, with a focus on sustainability, risk management, and digital transformation.
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First quarter 2025 saw strong revenue and operating income growth, with robust CIB and IPS performance, cost discipline, and a CET1 ratio above target. Outlook remains positive, supported by European investment and efficiency gains, with a EUR 1 billion share buyback set for Q2.
Fiscal Year 2024
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Fourth quarter net profit rose 16% year-over-year to €2.3 billion, with strong revenue growth across all divisions and a CET1 ratio of 12.9%. The group targets 11.5% ROTE in 2025 and 12% in 2026, maintaining a 60% payout and introducing an interim dividend policy.
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Q3 2024 saw record net income of €2.9 billion, with strong CIB and IPS growth, stable cost of risk, and robust capital ratios. Operational efficiency measures are on track, and the outlook is positive as headwinds in Eurozone banking subside and strategic investments drive future growth.
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Global Markets has achieved strong revenue and market share growth, driven by a diversified equity platform, technology investment, and prudent risk management. The business is on track to exceed its 7.5% revenue CAGR target, with further gains expected from cross-selling, client diversification, and ongoing digital transformation.
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Q2 2024 saw strong revenue and net income growth, with CIB and Global Markets leading performance. Cost discipline, robust capital ratios, and positive outlook for 2024 were confirmed, with continued focus on operational efficiency and capital redeployment.
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Leadership in European payments is reinforced by exceeding revenue targets, major tech investments, and a new BPCE partnership. The business is capital-light, fee-driven, and poised for further growth through innovation, cross-sell, and pan-European expansion.