BGL BNP Paribas (009789111) H2 2024 earnings summary

Executive summary

• Achieved strong commercial performance across all business lines, supported by a diversified and integrated model.

• Continued progress on the Growth, Technology, Sustainability (GTS) 2025 transformation plan, with significant digitalization and modernization of client journeys and processes.

• Maintained a solid financial structure and high solvency, enabling support for clients and ongoing investments.

Financial highlights

• Net banking income rose 5% year-over-year to EUR 1,939.2 million, driven by strong commercial momentum.

• Gross operating income increased 10% to EUR 1,024.0 million compared to 2023.

• Group consolidated net profit, excluding the 2023 headquarters sale, rose 9% to EUR 477.9 million.

• Operating costs increased by just 0.4% to EUR 915.2 million, mainly due to salary indexations.

• Cost of risk rose to EUR 141.8 million, mainly due to International Leasing, but remains low overall.

Outlook and guidance

• Ongoing execution of the GTS plan, with further digitalization, sustainability initiatives, and client service enhancements planned.

• Continued investment in technology, sustainable finance, and new headquarters relocation in 2025.