BNPQF - BNP Paribas reports Q1 results

2023-05-03 03:36:58 ET

• BNP Paribas press release ( OTCQX:BNPQF ): Q1 Net income, Group share thus came to €4,435M in the first quarter 2023. In the first quarter 2022, it amounted to €1,840M.
• Distributable net income amounted to €2,845M in the first quarter 2023.
• Revenue of €12.03B (+1.3% Y/Y).
• As at 31 March 2023, the common equity Tier 1 ratio stood at 13.6%1. The Liquidity Coverage Ratio (end of period) amounted to 139% as at 31 March 2023 (129% as at 31 December 2022).
• Net tangible book value per share came to €84.8, equivalent to a compound annual growth rate of 7.6% since 31 December 2008.
• Outlook: BNP Paribas benefits more than ever from the strengths of its model and thus, reiterates its 2025 objectives, as revised upward in February 2023. In particular, the Group confirms that it anticipates an increase in distributable net income1 in 2023 in line with the objective of the GTS 2025 plan, i.e., an increase of more than 9% compared to its 2022 reported results. The Group also confirms its objective of a growth in distributable earnings per share2 in 2023 exceeding the objective of the GTS 2025 plan, i.e., an increase of more than 12% higher than 2022 reported results.

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