Stable revenues (€12,483m) driven by very solid business performances within each operating
division
Positive jaws effect (+1.1 point)
Cost of risk1 (29 bps) still low, due to the quality of the loan portfolio
Pre-tax income up sharply (+7.4% vs. 1Q23 distributable3) to €4,363m
Very high Net Income of €3,103m2 (-2.2% vs. 1Q23 distributable3), driven by operating performances
€1.05bn share buyback finalised on 23 April 2024, and €4.60 dividend subject to General Meeting
approval on 14 May 2024
Earnings Per Share4 (€2.51) up sharply
Financial structure very solid (CET1 ratio of 13.1%)
Active management of capital including the divestment of Personal Finance businesses in Mexico
and ongoing redeployment of capital from the Bank of the West divestment
On the strength of its 1st quarter 2024 results, BNP Paribas confirms its 2024 trajectory – revenues more than 2% higher than 2023 distributable revenues3 (€46.9bn), a positive jaws effect5, a cost of risk below 40 bps, and Net Income higher than 2023 distributable Net Income3 (€11.2bn).
The Board of Directors of BNP Paribas met on 24 April 2024. The meeting was chaired by Jean Lemierre, and the Board examined the Group’s results for the first quarter 2024.
Jean-Laurent Bonnafé, Chief Executive Officer, stated at the end of the meeting:
“On the strength of its diversified and integrated model, the Group achieved good performances in the first quarter 2024, thanks to business momentum in the operating divisions. BNP Paribas continues to demonstrate its ability to generate value and confirms its 2024 trajectory, with revenue growth expected to surpass 2% compared to 2023 and Net Income above the 2023 distributable result. We continue to focus on expanding our market shares, supporting our clients, and rolling out our strategic initiatives. BNP Paribas is well positioned for the new phase of the economic cycle. I thank the teams for their mobilisation.”
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