Results and publications

View the latest publications of BNP Paribas Group’s results : press releases, quarterly series, financial statements, etc.
View the latest publications
  • Group of documents (7 documents)
    Results
    2024-02-01

    Results as at 31 December 2023

  • Group of documents (5 documents)
    Results
    2023-02-07

    Results as at 31 December 2022

  • Group of documents (3 documents)
    Others
    2022-05-03

    GTS 2025 Strategic Plan: “Operational Efficiency and Technology” and “Sustainable Finance and CSR” components

Audio replay of the analysts' conference call until 16 February 2024
Replay

Results as at 31 December 2023

SOLID RESULTS
BNP Paribas’ diversified and integrated model and its capacity to accompany clients and the economy in a comprehensive way by mobilising its teams, its resources, and its capabilities, continued to drive growth in activity and results in 2023.
The Group’s performance, as reflected in distributable Net Income(1), is solid and in line with the 2023 objective. Distributable Net Income(1) amounted to 11,232 million euros in 2023, up sharply, by 10.2% compared to the 2022 reported result(2). Distributable Net Income reflects BNP Paribas’ intrinsic performance post impact of the sale of Bank of the West and post contribution to the rampup of the Single Resolution Fund and enabled the absorption of the very significant negative impact of extraordinary items in 2023 recognised in Corporate Centre.
On this basis(1), revenue growth was strong (+3.3%), and operating expenses decreased by 1.0%. The Group achieved a positive jaws effect(3). Thanks to its long-term approach and prudent and proactive risk management, cost of risk is at a low level (32 basis points of outstanding customer loans)(4), driven by a structural improvement in the risk profile over the past 10 years.
The financial structure is solid, and the trajectory of the common equity Tier 1 ratio is on track to meeting the 12% objective post implementation of the new CRR3 regulation. Lastly, the redeployment of capital is well underway and disciplined in its approach and sustains the acceleration in growth.

BNP Paribas achieved a very good performance in 2023 that reflects the solidity of our diversified model, the efficiency of our platforms, and the Group’s ability to continue its development in order to address the needs of its individual, corporate and institutional clients. On the strength of our teams’ mobilisation and expertise and our technological advances, BNP Paribas will continue to grow and gain market share.
2023 also featured a strong acceleration in financing the production of low-carbon energies while exiting the financing of the production of fossil fuels in order to contribute towards transitioning our economies and our societies. Alongside all our teams, whom I wish to thank for their commitment, we remain focused on our mission of supporting clients and partners on a long term basis and, more broadly, of serving the European economy.

Jean-Laurent Bonnafé, BNP PARIBAS CEO

__________________________
(1) Result serving as a basis for calculating the distribution in 2023 and detailed on slide 11 of the 2023 results presentation – Variations calculated on this basis.
(2) Reported on 7 February 2023, i.e., 10,196 million euros.
(3) +1.0 point on distributable basis and excluding exceptional operating expenses and taxes subject to IFRIC 21.
(4) Note: cost of risk does not include “Other net losses for risk on financial instruments” i.e., charges related to risk of invalidation or non-enforceability of financial instruments granted (extraordinary provisions on mortgage loans in Poland, provisions for litigation related to Personal Finance, and provisions for risk on receivables in 2023 recognised in Corporate Centre (€775m in 2023)). 

                                               consult the press release  

The latest figures

  • REVENUES (distributable (1))
    3.3 %
    vs. 2022
  • COST OF RISK (4)
    32 bps
  • NET INCOME (reported)
    11.4 %
    vs. 2022
  • NET INCOME (distributable (1))
    11,232 m
    (+14.1% vs. 2022)
  • EPS (distributable (1))
    18.0 %
    vs. 2022 reported

The results in a few words

  • Solid performance creating value for all its stakeholders
  • Distributable Net Income(1) of €11,232m (+10.2% vs. 2022 reported), in line with the 2023 objective
  • Revenue growth(1), positive jaws effect(1), and low cost of risk
  • 18% increase in net earnings per share(2) (€9.21), boosted by 2023 share buyback programme, and 60% shareholder return(3)
  • Solid financial structure (13.2%5 CET1 ratio, +90 bps vs. 31.12.22)
  • Redeployment of capital well underway, with a disciplined approach
  • Acceleration in financing low-carbon energies
  • Widespread adoption of AI and gearing up on generative AI

______________________________

(1) Based on distributable Net Income serving as the basis for calculating the 2023 distribution and reflecting the Group’s intrinsic performance 
post impact of the sale of Bank of the West and post contribution to the ramp-up of the Single Resolution Fund (SRF) and excluding extraordinary 
items as detailed on slide 11 of the 2023 results presentation – Variations calculated on this basis; (2) Distributable earnings per share at end of 
period; (3) After taking remuneration of TSSDI (undated super-subordinated notes) into account.

BNP Paribas key figures

 

  2022 2021 2020 2019 2018
Total assets 2 666 376 2 634 444 2 488 491 2 164 713 2 040 836
Customer deposits 1 008 054 957 684 940 991 834 667 796 548
Customer loans gross 857 020 814 000 809 533 805 777 765 871
Common stockholders' equity 121 792 117 886 112 799 107 453 101 467
CET1 ratio 12.3% 12.9% 12.8% 12.1% 11.8%
Tier 1 capital ratio 13.9% 14.0% 14.2% 13.5% 13.1%
Total capital ratio 16.2% 16.4% 16.4% 15.5% 15.0%
  2022 2021 2020 2019 2018
Revenues 50 419 46 235 44 275 44 597 42 516
Gross operating income 16 717 15 124 14 081 13 260 11 933
Operating income 13 752 12 199 8 364 10 057 9 169
Pre-tax income 14 450 13 637 9 822 11 394 10 208
Net income Group share 10 196 9 488 7 067 8 173 7 526
  2022 2021 2020 2019 2018
Earnings per share (1) 7.80 7.26 5.31 6.21 5.73
Net book value per share (2) 89.0 88.0 82.3 79 74.7(*)
Net dividen per share 3.90(7) 3.67(6) 2.66(4) 0.0(3) 3.02
Pay-out ration (in %) (7) 50.00(7) 50.00(6) 50.00(5) 0.0(3) 52.72
  • SHARE PRICE
High (8) 68.07 62.55 54.22 53.81 68.66
Low (8) 40.67 39.71 24.51 38.14 38.18
Year-end 53.25 60.77 43.105 52.83 39.48
CAC 40 Index on 31st December 6 473.76 7 153.03 5 551.41 5 978.06 4 730.69

 

(1) Based on the average number of shares outstanding during the year.
(2) Before distribution. Revalued net book value based on the number of shares outstanding at year-end.
(3) Following ECB/2020/19 recommendation of the European Central Bank of 27 March 2020 on dividend distribution policies during the Covid-19 pandemic, the distribution of EUR 3.10 per share initially proposed to the Annual General Meeting of 19 May 2020, was appropriated to “Other reserves”.
(4) 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.
(5) Taking into account only the distribution of the 2020 dividend.
(6) Taking into account only the distribution of the 2021 dividend and not taking into account the EUR 900 million share buyback programme, 
executed between 1st November 2021 and 6 December 2021.
(7) Subject to approval by the Annual General Meeting of 16 May 2023 and taking into account only the distribution of the 2022 dividend and not taking into account the planned EUR 962 million share buyback programme related to the 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 during the meeting.
(*) Impact of the first application of IFRS 9 on shareholders’ equity at 1 January 2018 - EUR 2.5 billion, ie EUR 2 per share.