France’s largest listed lender has maintained its financial targets until 2025, although economic growth in its domestic market has been delayed and the consequences of Russia’s invasion of Ukraine are weighing on the eurozone as a whole. Its targets include an annual revenue increase of more than 3.5 percent and an incentive to return 60 percent of profits to shareholders. Revenue rose 11.7 percent in the first quarter year-on-year to 13.2 billion euros, while net income rose to 2.1 billion euros, up 19.2%, beating analysts’ forecasts. The bank benefited from lower risk costs, with bad credit charges falling sharply after a period of the coronavirus pandemic and the release of some forecasts linked to the Bank of the West, which it is selling. Like US competitors, BNP Paribas noted that trading had eased in the first three months of the year and companies were issuing fewer debts and shares to finance takeovers. However, the bank’s shares and earnings from fixed income transactions rose sharply, with earnings from share transactions rising by almost 61%. The group has incorporated a major service business acquired by Deutsche Bank, a unit serving hedge funds, and has fully integrated its Exane stock market as part of a broader push to gain an edge over emerging or emerging competitors. their investment banking units. BNP Paribas has extended lending throughout the eurozone to the height of the coronavirus pandemic and is seeking to capitalize on this.
