2022 Full Year Results
Sale of Bank of the West
◆ Closing of the sale of Bank of the West to BMO Financial Group on 1 February 2023
Total consideration of $16.3bn,
or a P/TBV multiple of 1.72x1
Net capital gain on sale²:
€2.9bn booked in 1Q23
Release of Common Equity Tier 1 (CET1) capital from the sale:
~€11.6bn (~170 bps) in 1Q23
Strengthening the diversified & integrated model
Gradual and disciplined redeployment of ~€7.6bn,
or (~110 bps)
.
Acceleration in organic growth
Targeted investments (technologies & innovative and
sustainable business models)
Bolt-on acquisitions in value-added businesses
Compensation of dilution related to the sale
Share buyback programmes: €4bn planned for
2023, or (~60 bps)³
1st tranche of €1.5bn4 (request submitted to the
ECB)
2nd tranche of €2.5bn planned for 2H23
1. Tangible book value as at 30.09.21; 2. Booking in non-operating exceptional items under Corporate Centre in 1Q23;
3. €4.04bn - upon customary condition precedents, including ECB authorisations; 4. Request submitted to the ECB for €1.54bn together with €962m related to the ordinary distribution of 2022 income
BNP PARIBAS
The bank for a changing world
2022 Full Year Results | 4View entire presentation