Investor Presentaiton
4Q21 - International Financial Services
4Q21
4Q20
4Q21 /
3Q21
4Q21 /
2021
2020
2021 /
€m
Revenues
4Q20
3Q21
2020
3,952
3,915
+0.9%
3,823
+3.4%
15,751
15,938
-1.2%
Operating Expenses and Dep.
-2,700
-2,555
+5.7%
-2,466
+9.5%
-10,231
-10,117
+1.1%
Gross Operating Income
1,252
1,360
-8.0%
1,357
-7.7%
5,519
5,821
-5.2%
Cost of Risk
-353
-678
-47.9%
-299
+18.1%
-1,427
-2,775
-48.6%
Operating Income
898
682
+31.7%
1,057
-15.1%
4,092
3,046
+34.4%
Share of Earnings of Equity-Method Entities
126
56
n.s.
105
+20.7%
444
353
+25.8%
Other Non Operating Items
-2
22
n.s.
40
n.s.
83
22
n.s.
Pre-Tax Income
1,022
759
+34.6%
1,202
-15.0%
4,620
3,421
+35.0%
Cost/Income
68.3%
65.3%
+3.0 pt 64.5%
+3.8 pt
65.0%
63.5%
+1.5 pt
Allocated Equity (€bn)
29.2
29.2
+0.2%
•
Forex effects (on average over the period): appreciation of the euro vs. the dollar, the Turkish lira and the
zloty on the year
•
USD/EUR1: +4.3% vs. 4Q20, +3.1% vs. 3Q21, -3.5% vs. 2020
•
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
Revenues: +1.9%, very good performance by WAM and Insurance, growth at BancWest partly offset by a
less favourable context for Personal Finance and Europe Mediterranean
Operating expenses: +6.9%, driven mainly by activity growth and targeted initiatives
•
Pre-tax income: +41.8%, strong decrease in the cost of risk
1. Average exchange rates
BNP PARIBAS
The bank for a changing world
2021 Full Year Results | 74View entire presentation