Third Quarter 2022 Results
Corporate and Institutional Banking
Global Markets - 9M22
€m
Global Markets
Revenues
incl. FICC
incl. Equity & Prime Services
Operating Expenses and Dep.
3Q22
3Q21
3Q22 /
2Q22
3Q22 /
9M22
9M21
9M22 /
3Q21
2Q22
9M21
1,986
1,731
+14.7%
2,196
-9.5%
7,003
5,481
+27.8%
1,124
896
+25.5%
1,317
-14.7%
4,140
3,192
+29.7%
863
835
+3.3%
878
-1.8%
2,863
2,289
+25.1%
-1,167
-1,137
+2.6%
-1,158
+0.8%
-4,326
-3,700
+16.9%
Gross Operating Income
819
594
+37.9%
1,038
-21.1%
2,678
1,781
+50.3%
Cost of Risk
28
-2
n.s.
8
n.s.
15
17
-14.9%
Operating Income
847
592
+43.0%
1,046
-19.1%
2,693
1,798
+49.7%
Share of Earnings of Equity-Method Entities
3
2
+57.4%
8
-67.8%
13
9
+46.6%
Other Non Operating Items
-1
4
n.s.
-1
+32.8%
-1
10
n.s.
Pre-Tax Income
848
598
+41.9%
1,053
-19.5%
2,704
1,817
+48.8%
Cost/Income
58.8%
65.7%
-6.9 pt
52.7%
+6.1 pt
61.8%
67.5%
-5.7 pt
Allocated Equity (Ebn, year to date)
11.8
10.7
+11.1%
Revenues: +27.8% vs. 9M21 (+22.3% at constant scope and exchange rates)
Very strong growth in demand for derivatives, driven particularly by reallocation and hedging needs in
commodities, rates and forex products, and emerging markets
Good level of activity overall on equity markets, particularly in derivatives
Operating expenses: +16.9% vs. 9M21 (+8.6% at constant scope and exchange rates)
Increase driven by the very strong growth in activity, the effects of changes in scope¹ and the
increase in taxes subject to IFRIC 21
A positive jaws effect (+10.9 pts)
Cost of risk: a very low cost of risk
Allocated equity: +11.1% vs. 9M21, increase related particularly to the impact of markets volatility,
especially in commodities and on market and counterparty risks
BNP PARIBAS
1. Consolidation of Exane, effective 01.07.21
The bank for a changing world
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