BNP Paribas (BNP) AGM 2025 summary

Opening remarks and agenda

• The assembly was convened with a quorum of 71.77%, meeting all legal and procedural requirements, and was broadcast online for transparency.

• AGM held on 13 May 2025, focusing on 2024 results, strategic outlook, governance, and sustainability.

• The agenda and supporting documents, including the 2024 Universal Document Management Report, were distributed in both digital and print formats.

• Shareholders were provided with tools for participation, including written question submission and client relationship support.

• The board, liaison committee, scrutineers, and auditors were introduced, and the meeting structure was outlined.

Financial performance review

• Revenues grew by 4.1% to €48.8bn, with net income up 4.1% to €11.7bn; CIB up 8.4%, IPS up 4.2%, CPBS up 2.3%.

• Operating expenses increased by 2.1%, resulting in a positive jaw effect; operational efficiency improved with a positive jaws effect of +2.0 pts.

• Cost of risk was well controlled at 33 basis points; CET1 capital ratio ended 2024 at 12.9%.

• Dividend per share set at €4.79, with a share buyback program of €1bn and a new interim dividend payment in September.

• CIB achieved strong growth, entering the top 3 in Europe; CPBS showed resilience; IPS saw robust AUM growth.

Board and executive committee updates

• Two board members retired, with two reappointments and four new appointments, temporarily increasing the board to 16 members.

• Board renewals and new appointments proposed, enhancing expertise in finance, risk, RSE, and technology.

• The board emphasized succession planning, diversity, and the extension of age limits for key executives to ensure stability.

• CEO Jean-Laurent Bonnafé’s compensation was increased by 25% to €2.3m to align with industry benchmarks; remuneration envelope increased to €2m.

• Strict application of performance and RSE criteria for executive variable compensation; fixed CEO pay proposed to rise after 3 years of freeze.