2022 Full Year Results
Єm
IPS - Insurance - 4Q22
4Q22
4Q21
4Q22 /
3Q22
4Q22 /
2022
2021
4Q21
3Q22
2022 / Technical reserves: -4.0% vs. 4Q21
2021
Revenues: - 7.2% vs. 4Q21
•
Increase in Savings and
Protection revenues
Decrease in financial result
Operating expenses: -5.7% vs. 4Q21
•
Impact of optimisation of
operating expenses
Pre-tax income: -6.8% vs. 4Q21
Insurance
Revenues
608
655
-7.2%
658
-7.6% 2,774
2,827
-1.9%
Operating Expenses and Dep.
-387
-410
-5.7%
-391
Gross Operating Income
221
245
-9.7%
267
-17.1%
-1.1% -1,558
1,216
-1,536 +1.4%
1,291
-5.8%
Cost of Risk
0
-1
-21.4%
0
+84.3%
-2
-1
+40.3%
Operating Income
221
244
-9.7%
266
-17.2%
1,214
1,289 -5.8%
Share of Earnings of Equity-Method Entities
34
30
+14.3%
31
+8.2%
149
86
+74.0%
Other Non Operating Items
-1
-2
-46.9%
-1
-13.9%
12
-6
n.s.
Pre-Tax Income
253
272
-6.8%
296
-14.5%
1,376
1,368
+0.5%
Cost/Income
63.6%
62.6%
+1.0 pt
59.5%
+4.1 pt
56.2%
54.3%
+1.9 pt
Allocated Equity (Ebn, year to date)
7.1
9.4
-24.9%
The new IFRS17 standard "Insurance contracts" replaces IFRS4 "Insurance contracts"
Effective date: 01.01.23
Finalised impacts and quarterly restatement: from the 1Q23 release on 03.05.23
Operating expenses deemed "attributable to insurance business" will be deducted from revenues
and no longer booked in operating expenses from 01.01.23
No impact on GOI
Decrease in Group's operating expenses, along with an equivalent decrease in revenues
Improvement in Group's C/I: ~1.2 pt1
Accounting entries relating solely to Insurance and Corporate Center with no impact on their
GOI2; no impact on other businesses
BNP PARIBAS
1. Positive effect not taken into account in the jaws effect target provided slide 5; 2. Decrease in operating expenses with an equivalent decrease in revenues
The bank for a changing world
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