BNP Paribas has reported a net profit of €2.3bn for the fourth quarter ended 31 December 2021, a 45% rise compared to €1.6bn for the respective quarter in 2020.
The bank reported a profit before tax of €3.2bn in the fourth quarter (Q4) of 2021, a 42% increase compared to €2.2bn in the same period of the previous year.
The company reported net revenues of €11.2bn for Q4 2021, a 3.7% rise compared to €10.8bn for the corresponding quarter last year.
It has reported an operating income of €2.8bn for Q4 2021, a 68% increase compared to €1.7bn for the same quarter in 2020.
BNP Paribas chief executive officer Jean-Laurent Bonnafé said: “Thanks to the engagement of its teams and the strength of its model, BNP Paribas achieved a very good performance in 2021. BNP Paribas confirms its major role in financing the economy, notably in Europe.
“This performance reflects a unique positioning as a European leader, with platforms to best serve corporate, institutional and individual clients. This performance acknowledges our long-term commitment by their side in all phases of the economic cycle.
“The combination of our talents, our leading European platforms, our distinctive model and the Group’s financial strength allows BNP Paribas to be ideally positioned to implement its Growth, Technology & Sustainability 2025 strategic plan.”
The company’s Retail Banking & Services unit has reported net revenues of €7.9bn for the Q4 2021, a 2.6% rise compared to €7.7bn for the corresponding quarter prior year.
Its Wealth and Asset Management business has reported net revenues of €949m for Q4 2021, a 15% increase compared to €826m for the same period last year.
The company reported that its Corporate Banking unit generated net revenues of €1.3bn for Q4 2021, an 8% rise compared to €1.2bn for the respective quarter in 2020.
BNP Paribas’ Securities Services business has reported net revenues of €602m for Q4 2021, a 12% increase compared to €536m for the same period the previous year.
