BNP Paribas: Q3 net income up 6%

(CercleFinance.com) - BNP Paribas has published a 5.
9% rise in net income, group share (RNPG) to E2.87bn for Q3 2024, representing an 11.2% increase in EPS to E2.38, with gross operating income (GOI) up 4.2% to E4.73bn.

The banking group explains that it benefited from revenues up 2.7% to over E11.9bn, driven by the diversified and integrated model, and notably very good performances by CIB (+9%) and IPS (+4.9%).

BNP Paribas also reports a positive jaws effect of one point, with the implementation of operating efficiency measures (655 million euros at the end of September, in line with one billion expected in 2024) and a stable cost of risk at 32bp.

On the strength of these results, the group confirms that it is targeting revenue growth of over 2% in 2024, a positive jaws effect, a cost of risk of less than 40 basis points, and NI (gs) of over 2023 distributable net income (E11.2bn).


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