Investor Presentaiton
4Q21 - IFS - Europe-Mediterranean
4Q21
4Q20
4Q21 /
3Q21
4Q21 /
2021
2020
2021 /
€m
Revenues
Operating Expenses and Dep.
Gross Operating Income
4Q20
3Q21
2020
449
527
-14.7%
511
-12.1%
1,941
2,362
-17.8%
-395
-402
-1.8%
-383
+3.2%
-1,604
-1,711
-6.3%
54
125
-56.4%
128
-57.6%
337
651
-48.3%
Cost of Risk
-32
-95
-66.2%
-15
n.s.
-144
-437
-66.9%
Operating Income
22
30
-25.1%
113
-80.3%
192
214
-10.2%
Non Operating Items
43
51
-14.8%
70
-38.5%
181
187
-2.7%
Pre-Tax Income
65
80
-18.6%
183
-64.2%
374
401
-6.7%
Income Attributable to Wealth and Asset Management
-2
-2
-4.7%
-1
+75.5%
-8
-8
-6.4%
Pre-Tax Income
63
78
-19.0%
182
-65.1%
366
392
-6.7%
Cost/Income
87.9%
76.4%
+11.5 pt
74.9%
+13.0 pt
82.6%
72.4%
+10.2 pt
Allocated Equity (Єbn)
5.0
5.1
-1.9%
Including 100% of Private Banking in Turkey and Poland for the Revenues to Pre-Tax Income line items
Forex impact (on average over the period) driven by the euro's appreciation vs. the Turkish lira and
the zloty
•
TRY/EUR1: -27.0% vs. 4Q20, -21.7% vs. 3Q21, -23.4% vs. 2020
PLN/EUR1: -2.5% vs. 4Q20, -1.1% vs. 3Q21, -2.6% vs. 2020
At constant scope and exchange rates vs. 4Q20
•
Revenues²: -3.1%, strong increase when excluding the impact of a non-recurring item in Poland³; good
underlying momentum driven by higher net interest income and the increase in fees
•
Operating expenses²: +10.1%, increase driven by high wage drift and targeted initiatives
•
Pre-tax income4: +22.9%, strong drop in cost of risk
BNP PARIBAS
1. Average exchange rates 2. Including 100% of Private Banking in Turkey and Poland; 3. Limited impact for the Group, see Corporate Centre in 4Q21;
4. Including 2/3 of Private Banking in Turkey and Poland
The bank for a changing world
2021 Full Year Results | 77View entire presentation