Third Quarter 2022 Results
CPBS - Europe-Mediterranean - 9M22
3Q22
3Q21
3Q22 /
2Q22
3Q22 /
9M22
9M21
9M22 /
3Q21
2Q22
9M21
€m
Europe-Mediterranean
Revenues
incl. net interest income
incl. fees
Operating Expenses and Dep.
Gross Operating Income
Cost of Risk
Operating Income
Share of Earnings of Equity-Method Entities
Other Non Operating Items
Pre-Tax Income
Income Attributable to Wealth and Asset Management
Pre-Tax Income of Europe-Mediterranean
Cost/Income
607
511
+18.8%
566
+7.2%
1,812
1,491
+21.5%
488
401
+21.7%
455
+7.3%
1,462
1,150
+27.1%
118
109
+8.1%
111
+6.7%
350
342
+2.4%
-393
-383
+2.6%
-418
-5.9%
-1,232
-1,211
+1.8%
214
128
+67.0%
148
+44.2%
579
280
n.s.
-55
-15
n.s.
-48
+14.8%
-143
-112
+27.1%
159
113
+40.7%
100
+58.3%
437
168
n.s.
100
71
+40.7%
132
-24.3%
302
188
+60.8%
-5
-1
n.s.
-29
-82.2%
-34
-50
-30.9%
253
183
+38.4%
203
+24.9%
704
306
n.s.
-3
-1
n.s.
-3
+16.6%
-10
-6
+70.0%
250
182
+37.4%
200
+25.0%
694
300
n.s.
64.7%
74.9%
-10.2 pt
73.8%
-9.1 pt
68.0%
81.2%
-13.2 pt
Allocated Equity (€bn, year to date; including 2/3 of Private Banking in Poland and Turkey)
5.4
5.0
+7.6%
1. Including 100% of Private Banking in Turkey and Poland for the Revenues to Pre-tax income line items
.
Foreign exchange effect impact driven by the euro's appreciation vs. the Turkish lira and zloty
TRY/EUR¹: -44.6% vs. 3Q21, -3.7% vs. 2Q22, -46.6% vs. 9M21
•
PLN/EUR²: -3.6% vs. 3Q21, -1.9% vs. 2Q22, -2.6% vs. 9M21
Limited overall impact of the implementation of IAS 29, and taking into account the efficiency of the
hedging with the CPI linkers (inflation linked bonds) portfolio since 01.01.22 : -€2m in pre-tax income
At constant scope and exchange rates³ vs. 9M21
Revenues: +31.9%, driven by strong growth in net interest income
Operating expenses4: +8.9%, very positive jaws effect (+23.0 pts)
Pre-tax income5: x2.0, limited overall impact from the effects induced by the hyperinflation situation in Turkey
1. Average exchange rates until 31.03.22 and, effective 01.04.22, end-of-period exchange rate taken into account with the application in Turkey of IAS 29;
2. Average exchange rates; 3. At constant scope and exchange rates excluding Turkey at historical exchange rates in accordance with IAS 29; 4. Including 100% of Private Banking in Turkey and Poland;
5. Including 2/3 of Private Banking in Turkey and Poland
BNP PARIBAS
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Third quarter 2022 results | 61View entire presentation