BNP Paribas has reported a net income of €2.3bn for the fourth quarter ended 31 December 2021, a 45% increase compared to €1.6bn for the same quarter of 2020.
The French banking firm reported total revenues of €11.2bn for the fourth quarter (Q4) of 2021, a 3.7% rise compared to €10.8bn for the same period of the previous year.
It has reported a pre-tax income of €3.2bn for Q4 2021, a 42.2% rise compared to €2.23bn for the corresponding quarter in 2020.
The bank has reported an operating income of €2.8bn for Q4 2021, a 68% increase compared to €1.7bn for the same period the previous year.
The company has attributed the increase in performance to its integrated and diversified model, backed by its platforms and client franchises leaders in Europe and other regions.
BNP Paribas CEO 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 bank’s Retail Banking & Services business reported revenues of €7.9bn for Q4 2021, a 2.6% rise compared to €7.7bn for the same quarter the previous year.
Its International Financial Services unit reported revenues of €3.9bn for Q4 2021, which remained almost unchanged from the corresponding quarter in 2020.
The company’s Corporate and Institutional Banking (CIB) division reported revenues of €3.2bn for Q4 2021, a 3% rise compared to €3.3bn for the same period the previous year.
Last month, BNP Paribas completed the transfer of clients, technology and key employees from Deutsche Bank’s Global Prime Finance and Electronic Equities business.
