The bank provides average growth of its profit of 9 % per year from 2022 to 2025, against 7 % previously, an increase in net profit of around one billion euros each year.
MO12345lemonde with AFP
“In a word: these results are good and I am delighted.” These few words are those of a happy director. Jean-Laurent Bonnafé, boss of BNP Paribas, first European bank, welcomes the results of the banking group which garnered 10.2 billion euros in 2022. Even stronger than its 2021 year, already record in terms of net profit.
Revenues from all activity centers are increasing: +15.7 % for the part dedicated to businesses and large institutions, +9.3 % for commercial banks and specialized trades and +3 % for investment and savings professions.
“Strong these results which confirm the relevance of our 2025 strategic plan, and confident in the group’s ability to pursue disciplined and sustainable growth, the group has revised its upward goals”, Affirmed Mr. Bonnafé Who had the “pleasure to share” these results, synonymous “of a doubly reassuring indicator”.
These results have thus led the BNP Paribas to identify the objectives of its strategic plan for 2025. Net profit increased by 7.5 % over one year, and even 19 % excluding exceptional elements. Or 204 million euros in provisions following a Polish law allowing borrowers to suspend their reimbursements, and 433 million euros linked to the war in Ukraine and the depreciation of its subsidiary in this country. >
The bank’s net profit complies with the expectations of analysts, which tabbed on amounts between 10.01 billion, according to the consensus established by FostSet, specialist in financial information, and 10.22 billion, according to that de Bloomberg. The net banking product, equivalent to turnover for the sector, appears at 50.4 billion euros in 2022, an increase of 9 % over one year.
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The bank provides average growth of its profit of 9 % per year from 2022 to 2025, against 7 % previously, an increase in net profit of around one billion euros each year.
To achieve this objective, BNP Paribas Tables in particular on two billion euros in additional revenues by 2025, due to the increase in rates caused by the tightening of the monetary policy of the European Central Bank (ECB), aiming to curb inflation.
It also provides higher cost reductions than expected, of 2.3 billion euros against 2 billion previously. Regarding the cost of risk – the sums provisioned in the event of a borrower’s lack -, it has established nearly 3 billion euros, “slightly 1.4 % compared to 2021”.
While the second semester was led by the debates around superprofits, the bank stressed that it was “also a significant taxpayer with a total amount of taxes of 7.2 billion euros paid In 2022 “, including 3.85 billion in terms of profits tax.