BNP Paribas: growth trajectory confirmed for 2024

(CercleFinance.com) - At a strategy presentation on Monday, BNP Paribas confirmed its revenue growth trajectory of over 2% this year compared with 2023.


The French bank also announced that it intends to step up its operational efficiency measures in the second half of the year, targeting 650 million euros in the second half, compared with 350 million euros in the first six months.

The bank also indicated that it intends to propose to its shareholders a distribution of its profits based on a pay-out ratio of 60%.

Among its other strategic priorities, the group explains that it intends to continue optimizing its risk-weighted assets (RWA).

At the same time, BNP says it intends to gain market share in corporate and investment banking (CIB), but at marginal cost.

The Group also wants to consolidate its leading position in several key markets, such as retail and commercial banking, and specialized markets.

Finally, with the acquisition of AXA IM, BNP Paribas explains that it intends to position itself as the European leader in the management of long-term investment strategies.

Following all these announcements, the BNP Paribas share gained 0.3% in early trading on Monday morning, slightly underperforming a CAC 40 index up by around 0.4%.

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