Investor Presentaiton
2025
Agreement with BMO for the sale of Bank of the West (BoW)
An operation leading to strong value-creation
Announcement on 20 December 2021 of the sale to BMO Financial Group of 100% of BNP
Paribas' retail & commercial banking activities in the United States conducted through Bank of
the West¹
Total consideration of $16.3bn (~€14.4bn¹), to
be paid in cash at the closing of the transaction,
expected late 2022
Extraordinary distribution in the form of
share buybacks to compensate the expected
dilution of the earnings per share in the months
following the closing of the transaction
Reminder¹
1.72x P/TBV
20.5% of BNP Paribas' market cap
A one-off capital gain estimated at €2.9bn²
CET1 impact estimated at ~170bp, €11bn in capital
release, ~110bp net of estimated share buybacks¹
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Gradual and disciplined redeployment of the capital released
within BNP Paribas' integrated and diversified model
Acceleration in organic growth, in particular in Europe
Targeted investments in technologies and innovative
business models
Bolt-on acquisitions in value-added businesses, in line
with the strategy of the business
Target: an additional increase in earnings
per share of more than 5% by 2025
1. As of 17 December 2021 - See press release of 20 December 2021; Subject to the usual suspensive conditions, including approval by the relevant supervisory and competition authorities; 2. Net of tax
BNP PARIBAS
The bank for a changing world
2021 Full Year Results | 56View entire presentation