Group of documents (7 documents)
Results
2025-10-28
- BNP Paribas
- Share price
SOLID RESULTS IN THE 3RD QUARTER 2025, IN LINE WITH OUR 2025 NET INCOME TARGET GROWTH LEVERS ABOVE €12.2BN. OUR GROWTH LEVERS ARE FIRMLY IN PLACE TO ACHIEVE A ROTE OF 12% IN 2026 AND 13% IN 2028, DRIVEN BY ORGANIC EXPANSION ACROSS BUSINESS LINES AND THE SUCCESSFUL INTEGRATION OF AXA IM. OUR FINANCIAL STRUCTURE REMAINS SOLID WITH A CET1 RATIO OF 12.5%. Revenues reached €12,569 million, up 5.3% compared to the 3rd quarter 2024. Operating divisions grew by 3.5% excluding AXA IM, generating a positive jaws effect of +2 points. The cost of risk (1) remained below 40bps at 39 basis points. Group net income rose to €3,044 million, up 6.1% year-on-year (€2,868 million in 3Q24). All three divisions contributed to this strong momentum: CIB delivered a record quarter with revenues up 4.5%, driven by Global Markets and Securities Services; IPS posted solid results and laid the foundations for accelerated growth with AXA IM, achieving 2.9% revenue growth excluding AXA IM, supported by Insurance and Wealth Management. CPBS maintained its positive trajectory, with commercial banking revenues increasing by 5.6%.
“The Group achieved good operating performance in all three of its divisions in the third quarter and displays a very solid financial structure, with a CET1 ratio of 12.5%, as well as organic capital generation of 30 bps. Our results are in line with our 2025 net income target of more than 12.2 billion euros and with our 2026 growth trajectory. The third quarter was highlighted by the integration of AXA IM, providing the Group with a lever of strategic transformation and enabling us to become a leader in asset management. I would like to thank all our teams for their continued commitment to serving our clients.”
Jean-Laurent Bonnafé, Director and Chief Executive Officer of BNP Paribas
(1) Cost of risk does not include “Other net losses for risk on financial instruments”.
(2) Net income, Group share.
(3) Transition to phased-in ratios and RWA starting from Q2 2025, in order to align with the calculation of the regulatory requirement (MDA calculation), take into account the Group’s 2030 horizon, and to reflect the standards used by the market. Phased-in CET1 calculated on the basis of €779bn in risk-weighted assets as of 30.09.2025; including transitional arrangements as defined in Art.465, 468 and 495 of CRR.
| 2024 | 2023 | 2022 | 2021 | 2020 | |
| Total assets | 2 704 908 | 2 591 499 | 2 666 376 | 2 634 444 | 2 488 491 |
| Customer deposits | 1 034 857 | 988 549 | 1 008 054 | 957 684 | 940 991 |
| Customer loans gross | 900 141 | 859 200 | 857 020 | 814 000 | 809 533 |
| Common stockholders' equity | 128 137 | 123 742 | 121 792 | 117 886 | 112 799 |
| CET1 ratio | 12,9% | 13.2% | 12.3% | 12.9% | 12.8% |
| Tier 1 capital ratio | 14,9% | 15.3% | 13.9% | 14.0% | 14.2% |
| Total capital ratio | 17,1% | 17.3% | 16.2% | 16.4% | 16.4% |
| 2024 | 2023 | 2022 | 2021 | 2020 | |
| Revenues | 48 831 | 45 874 | 50 419 | 46 235 | 44 275 |
| Gross operating income | 18 638 | 14 918 | 16 717 | 15 124 | 14 081 |
| Operating income | 15 437 | 11 236 | 13 752 | 12 199 | 8 364 |
| Pre-tax income | 16 188 | 11 725 | 14 450 | 13 637 | 9 822 |
| Net income Group share | 11 688 | 10 975 | 10 196 | 9 488 | 7 067 |
| 2024 | 2023 | 2022 | 2021 | 2020 | |
| Net income attributable to the shareholders per share1 | 9.57 | 9.21 | 7.80 | 7.26 | 5.31 |
| Net book value per share2 | 102.5 | 96.0 | 89.0 | 88.0 | 82.3 |
| Net dividend per share | 4.79 | 4.607 | 3.906 | 3.675 | 2.663 |
| Cash pay-out ratio (%)8 | 50.00 | 50,007 | 50.006 | 50.005 | 50.004 |
| -- SHARE PRICE -- | |||||
| High9 | 73.08 | 67.02 | 68.07 | 62.55 | 54.22 |
| Low9 | 53.08 | 47.02 | 40.67 | 39.71 | 24.51 |
| Year-end | 59.22 | 62.59 | 53.25 | 60.77 | 43.105 |
| CAC 40 Index on 31 December | 7 380.74 | 7 543.18 | 6 473.76 | 7 153.03 | 5 551.41 |
1 Based on the average number of shares outstanding during the year. Calculated in 2023 on the basis of the distributable 2023 earnings and the number of shares outstanding at year-end.
2 Before distribution. Revalued net book value based on the number of shares outstanding at year-end.
3 EUR 1.11 distributed following the approval of the Shareholders’ Combined General Meeting of 18 May 2021, plus EUR 1.55 distributed following the approval of the Ordinary Annual General Meeting of 24 September 2021; taking into account only the distribution of the 2020 dividend.
4 Taking into account only the distribution of the 2020 dividend.
5 Taking into account only the distribution of the 2021 dividend and not taking into account the EUR 900 million share buyback programme, executed between 1 November 2021 and 6 December 2021.
6 Taking into account only the distribution of the 2022 dividend and not taking into account the EUR 962 million share buyback programme in respect of the so-called “ordinary” distribution.
7 Taking into account only the distribution of the 2023 dividend and not taking into account the EUR 1.05 billion share buyback programme in respect of the so-called “ordinary” distribution.
8 Cash dividend distribution recommended at the Annual General Meeting expressed as a percentage of distributable net income attributable to shareholders.
9 Recorded intra-day during trading session.
