BNP Paribas reported a 28.2% growth in its net income attributable to equity holders at €1.85bn in the fourth quarter of 2019 (Q4 2019) compared to the €1.44bn it made in the fourth quarter of 2018 (Q4 2018).
The French banking group’s revenues for Q4 2019 were up by 11.5% at €11.3bn compared to the same quarter in the previous year, which stood at €10.16bn.
The bank said that its revenues in the operating divisions went up by 12.0% at €11.37bn in the fourth quarter of 2019 compared to Q4 2018.
For the domestic markets division, the revenues for Q4 2019 went up 3.4% as an increased business offset the impact of the low-interest-rate environment, said the bank.
For the international financial services unit, the fourth-quarter revenue was up by 9.8%, while the CIB division saw a 30.3% increase in its revenue. BNP Paribas attributed these to the growth in all the businesses in comparison to a very unfavourable market context in the same quarter in the year before.
However, the bank said that revenues came down in the corporate centre in the fourth quarter of 2019 owing to a lesser contribution from principal investment.
The operating expenses of the group moved up by 4.6% at €8.03bn in Q4 2019 compared to the same quarter in the year before. This was due to the exceptional impact of transformation costs, restructuring costs, and adaptation measures for €420m in Q4 2019, said the French banking group.
The bank also reported its full-year 2019 (FY2019) results, which saw a growth of 8.6% in the net income attributable to equity holders at €8.17bn compared to €7.52bn made in the full year 2018.
BNP Paribas FY2019 revenues up by 4.9%
BNP Paribas’ revenues in FY2019 grew 4.9% at €44.6bn compared to €42.5bn reported in the year before.
BNP Paribas CEO Jean-Laurent Bonnafé said: “With a net income of EUR 8.2 billion, BNP Paribas achieved a very good performance in 2019 thanks to its good business drive and the effects of its transformation. BNP Paribas confirms the strength of its diversified and integrated model.
“The way the Group operates has changed, being more efficient and digital for our clients and employees.
“The Group is actively executing its ambitious policy of engagement in society with the ambition of being a leader in sustainable finance.”
