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Deep Dive CPBF – 26 June 2025 | 1 DEEP DIVE COMMERCIAL & PERSONAL BANKING – FRANCE CPBF 26 June 2025
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Deep Dive CPBF – 26 June 2025 | 2 SpeakersOVERVIEW | Thierry LABORDE Group Chief Operating Officer Head of Commercial, Personal Banking & Services Isabelle LOC Head of Commercial & Personal Banking in France Lars MACHENIL Group Chief Financial Officer Maryline ANGLARET Chief Financial Officer Commercial & Personal Banking in France Pierre RUHLMANN Chief Operating Officer Commercial & Personal Banking in France
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Deep Dive CPBF – 26 June 2025 | 3 ⎯ CPBS3,4 contribution to 2024 Group results INTRODUCTION | CPBF at the heart of CPBS roadmap % Group revenues % Group pre-tax income % RWA RONE (pre-tax)5 53% 44% 55% 12.7% ⎯ CBPS Strategic Plan ⎯ CPBF Strategic Plan Leverage our leading Corporate Banking and Private Banking franchises Transform our Retail Banking model Improve profitability with targeted investments and efficiency levers Implement our strategic roadmap for CPBF* and PF: focus on driving profitability Strengthen our positions in the Corporate and Private Banking segments Further strategic repositioning of Retail activities Accelerate profitable growth in specialised businesses *The plan has been presented to the works council for consultation ⎯ CPBS revenues1 24,931 25,917 26,027 Other Commercial & Personal Banking Specialised Businesses CAGR2 +4.4% CPBF4 2/3 PB 26,050 22,855 5,966 6,361 6,251 6,241 6,258 2024 Restated 3 2024 Reported 202320222021 €m
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Deep Dive CPBF – 26 June 2025 | 4 New strategic plan to better address shift in clients’ needs, improve profitability and adapt to the competitive landscape ⎯ Market trends ⎯ CPBF priorities French market highly dominated by volume-strategy driven mutualist banks Increase in competition from online banks / neobanks outperforming traditional banks in 2024 on loyalty and proximity criterias2 Acceleration in shifting clients’ needs • Clients value digitalisation, expertise and proactivity over dedicated relationship manager • 85% of our individual clients are mobile App frequent users1 with increased digital interactions: 970m digital connexions in 2024 (+50% vs. 2020) #1 on high-value segments Best-in-class expertise Best-in-class quality of service NPS3 > market average Improve profitability with targeted investments and efficiency levers Leverage our leading franchises Accelerate investments in Tech & AI platforms Scale CPBF & Group offers platforms Invest in human expertise to deliver more value for our clients Corporate Banking: reinforce leadership on Large & Mid-Caps and grow SME franchise Private Banking: consolidate our leadership and accelerate Digital Private Banking growth Transform our Retail Banking model Accelerate investments for enhanced digital experience Upgrade our client franchise, focusing on delivering value Transform our coverage and operating model INTRODUCTION |
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Deep Dive CPBF – 26 June 2025 | 5 CPBF strategic plan will raise profitability to >17% RONE by 2028 Revenues >+5% 24-28 CAGR Jaws Effect +3-4 pts on average over 24-28 Cost of risk <25 bps 24-28 RWA2 ~+2% 24-28 CAGR RONE3 >17% 1 €6.6bn +1 pt 29 bps €102.8bn 202820241 2 3 4 9.8% ⎯ 24-28 Growth drivers • Revenue growth expected >+5% 24-28 CAGR; strong growth every year, though not linear • Conservative assumptions for loans and deposits growth • NII to overtake fees as main source of revenue growth • Similar trends at 100% and 2/3 of Private Banking ⎯ Profitability • Cost discipline: Jaws effect, investments costs included in the CPBF trajectory • Capital allocation discipline to most profitable franchises: Corporate and Private Banking • Cost of risk expected to be stable across the cycle, base effect in 2024 due to a specific file • Strong RONE improvement in Retail 100% excluding PEL / CEL INTRODUCTION |
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Deep Dive CPBF – 26 June 2025 | 6 ⎯ CPBF represented 13.5% of Group revenues and 24% of Group cross-sell in 2024 56% 56% 29% 29% 15% 15% 2023 2024 IPS producers CIB producers CPBS producers ⎯ Leading positions on high-value segments in France CPBF is the Group entry point for high-value segments and a key contributor to Group cross-selling ⎯ High-value segments are key drivers of CPBF revenues2 Corporate Banking Private Banking Retail Banking +11.5% €3.9bn Cross-sell CPBF in 2024 7.7 million clients1#1 Corporate segment #1 Private segment Mass Market Mass Affluent Upper AffluentSmall Businesses Mid Cap Large Cap 2024 revenues €6.6bn UHNWI3 & HNWI4 INTRODUCTION |
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Deep Dive CPBF – 26 June 2025 | 7 ⎯ Sustained growth in client assets2 with ~+5% CAGR since pre-Covid ⎯ Net Life Insurance inflows represent ~1% AuM1 on average with a rising trend, increasing our off-balance sheet items ⎯ Fee generation is based on the Group pan European platforms CPBF attractive offer fuels fee generation and ability to collect deposits 8% 30% 31% 31%Cash management and payments fees Financial fees Non-life insurance and protection fees Banking fees ⎯ Fee generation has grown by +3.5% CAGR since 2019 and represented ~49% of CPBF revenues in 2024 2019 2024 NII Fees 43% 49% CAGR +3.5% CAGR ~+5% 0 100 200 300 400 500 2019 2020 2021 2022 2023 2024 Sight deposits Other deposits Life Insurance Other financial savings 0.8 -0.1 2.5 1.5 1.6 2.5 2019 2020 2021 2022 2023 2024 2024 €3.3bn €bn €bn INTRODUCTION | 43
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Deep Dive CPBF – 26 June 2025 | 8 ⎯ We outperformed the sector, but our profitability is still too low ⎯ NII structurally challenging • Slow asset repricing due to fixed-rate nature of mortgages • Usury rates delayed the repricing of new loans combined with strong competitive pressure • Liabilities repricing faster due to the migration from sight deposits to term deposits • Significant mix shift towards term deposits and off balance sheet products • French market3: cost-income ratio4 • French market3: NII €bn Revenues1 (€bn) Pre-tax income1 (€m) RONE (%) ⎯ CPBF1 (100% PB) contribution to 2024 Group results % Group revenues % Group pre-tax income % RWA RONE2 (pre-tax) 13.5% 8.2% 12.9% 9.8% Restated 2Reported Restated 2Reported Restated 2Reported Change 2019-2024 CPBF: -4.2 pts Market: +3.7 pts 2019-2024 CAGR CPBF: -1.5% Market: -3.3% Change in market dynamics cut the profitability rebound short 60% 62% 64% 66% 68% 70% 72% 74% 76% 19 20 21 22 23 24 25 26 27 28 6.3 5.9 6.2 6.6 6.6 6.6 6.6 2019 2020 2021 2022 2023 2024 2024 1,404 995 1,285 1,725 1,454 1,316 1,334 2019 2020 2021 2022 2023 2024 2024 13.6% 8.9% 11.8% 14.9% 12.3% 10.7% 9.8% 2019 2020 2021 2022 2023 2024 2024 INTRODUCTION |
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Deep Dive CPBF – 26 June 2025 | 9 ⎯ Capital allocated towards higher profitability activities with RWA at ~+2% CAGR (2024-2028) • Disciplined capital allocation and increased optimisations 2024 2025 2026 2027 2028 ⎯ Cost trajectory to deliver +3-4 pts average jaws • Inflation largely offset by net costs savings 2024 2025 2026 2027 2028 ⎯ Revenue growth expected at >+5% CAGR • Strong growth every year, though not linear CPBF RONE trajectory is supported by revenue rebound and discipline across the board 5% ⎯ Cost of risk 1 expected < 25 bps in the trajectory • Strong risk profile enables to limit volatility throughout the cycle 0 5 10 15 20 25 30 35 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 FINANCIAL TRAJECTORY | 102.8 €bn 4.6 €bn bps Reminder: 2025 revenue guidance for Commercial & Personal Banking in the eurozone > +3% 2025 2026 2027 2028
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Deep Dive CPBF – 26 June 2025 | 10 CPBF strong revenue growth will be significantly helped by anticipated NII rebound ⎯ NII to overtake fees as main source of revenue growth • Anticipated year-on year growth, rebased from 100 in 2024 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 NII Fees Total ⎯ Investment ‘philosophy’ used for the plan • Deposit growth ~ +1% 24-28 CAGR • New cash contributing only a fraction to the overall NII increase • Stable deposit mix • Significant increase in deposit margin until 2028 due to non- remunerated deposits and savings accounts • Non-remunerated deposits largely invested on various tenures, averaging ~ 5-10 years ⎯ Trajectory based on the following rate scenario • ~ 2.0% for overnight deposit rate • ~ 2.5% for long-end rate ⎯ Sensitivities • Volume of current account is the main driver of NII • +/-€ 1bn: impact on NII of +/- ~€20m on an annual basis • -50 bp parallel shock starting at the end of June 2025: impact on NII of ~-€100m in 2026 rising to ~-€250m in 2028 • -50 bp shock on short-end (< 2 years): impact on NII ~1/3 of parallel shock ⎯ Deposit mix is now stabilising 63% 68% 69% 68% 56% 51% 51% 0 50 100 150 200 250 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 Q1 25 Sight deposits Savings accounts Term deposits FINANCIAL TRAJECTORY | €bn
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Deep Dive CPBF – 26 June 2025 | 11 ⎯ Costs trajectory • Strong jaws effect of +3-4pts over 2024-2028, consistent with revenue trajectory • Inflation largely offset by Net Costs Savings • Acceleration in investments fuelling efficiency and profitability • Transformation costs for the plan fully allocated to CPBF Costs: jaws trajectory achieved thanks to the transformation of our modelFINANCIAL TRAJECTORY | ⎯ FTE trajectory • -2.2% to -2.5% FTE decrease on average each year from 2026 to 2030, with no departure plan Net cost savings levers ⎯ Optimisation • CPBF central functions streamlining • Real estate footprint • Cost control governance on external expenses ⎯ Infrastructure mutualisation • 4 banks mutualising ATMs under the brand ‘Cash Services’ to reduce costs while increasing access to ATMs (down from 10,000 to 7,000 sites in target) • Card payment processing shared with BPCE Group (17bn transactions p.a.) ⎯ Industrialisation / technology • Client selfcare and digital autonomy reducing cost-to-serve • Continued improvement of our back offices (90 automated scripts live) • AI roadmap to reduce cost-to-serve 2024 costs 25-28 Investments Volume Inflation 2028 costs Net cost savings 2028 cost trajectory 4.6 including investments €bn
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Deep Dive CPBF – 26 June 2025 | 12 ⎯ Low cost of risk and low volatility Prudent risk management limits volatility throughout the cycle ⎯ Strong risk profile thanks to our selective client base • Mortgages: < 5 bps cost of risk, low volatility, for target customers • Corporates: focus on clients offering stronger growth prospects • Private Banking clients: < 5 bps cost of risk ⎯ Low volatility in cost of risk • Peak at 41 bps in 2009 • One large file in 2024 • Very few exceptions outside of the 15-25 bps range ⎯ Positioning on high quality Corporate client base • Investment grade Corporate clients: ~70% of gross credit exposure in 2024, stable vs 2023 • Improved asset quality: average probability of default decreasing in 2024, starting from a low level 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 Average 2008-2024 = 23 bps ⎯ High quality risk profile of our Corporate clients 71% 29% Investment grade Non investment grade FINANCIAL TRAJECTORY | Breakdown in gross balance-sheet credit exposure as of 31.12.2024 Cost of risk on average outstanding
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Deep Dive CPBF – 26 June 2025 | 13 ⎯ RWA projection: 2024-2028 CAGR ~+2% ⎯ Average RWA savings 2024-2028 RWA optimisation to partly offset supervisory pressure and fund our strategic priorities FINANCIAL TRAJECTORY | ⎯ Disciplined loan growth over 2024-2028 • ~+1% per year ⎯ Capital allocation towards strategic initiatives • ~90% of organic growth on Corporate and Private Banking • Corporate, notably Private Equity through BNP Paribas Development with a strong growth trajectory • Private Banking: RWA allocation for external client acquisition and to extend financing solutions ⎯ Supervisory headwinds - Models • Equivalent to 7 bps of Group CET1 cumulative over 4 years ⎯ Increase of RWA optimisations • Insurance and SRT transactions: a multi-year track record (4 new SRT transactions in 2024) with CIB • More than €10bn RWA cumulative savings at the end of 2024, CPBF generating 25% of Group savings • RWA savings stepping up over 2024-2028 with an increase in number and size of transactions and greater focus on “Originate & Distribute” €bn €bn 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 SRT Insurance CRR3CRR2 102.8 RWA 2024 Organic growth Optimization Op risk Models RWA 2028
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Deep Dive CPBF – 26 June 2025 | 14 Corporate Banking - Reinforce our leading positions on Large & Mid- Caps and grow SME franchiseSTRATEGIC PRIORITIES | Ambitious commercial strategy Scale our expertise platforms Accelerate growth at marginal costs • Maintain our #1 position on Large & Mid-Caps1 and gain market share: 97% penetration rate for both SBF 120 and Cash Management activities • Accelerate growth on SMEs1 leveraging on expertise and regional presence • Leverage our unique and differentiating One Bank integrated model − #1 Banking Partner for Corporates2 in Europe with a ‘one- stop shop’ model − Supporting clients' international expansion with strong network in >50 countries: CPBF clients’ international development and CIB clients’ development in France • Leverage on our sectors expertise: Defence, ESG Pure Players, NBFI3, including − Innovative companies: #1 position4 with 3,500 clients in 2024, targeting >5,000 clients in 2030 − Image & Media: targeting €100m revenues in 2030 • Leverage on our unique regional platforms − 39 Business Centres − 65 We Are Innovation Centres • Leverage on BNP Paribas Development to increase Private Equity revenues • Low capital-intensive products, with more recurring fees on Transaction Banking & Insurance • Leverage on Data & AI (e.g. 39% of credit requests granted in < 8 days – Vs.16% in 2023) • Continue tech investments and automation to improve client experience on KYC, Credit and Servicing with ambitious targets: − Credit requests: 70% automated for contracting process − Servicing requests: 45% automated Robust expertise to secure our ambitions #1 M&A4 #1 Equity5 Capital Market #1 Debt6 Capital Market #1 Loans7 #1 Cash Management8 #1 Trade Finance8
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Deep Dive CPBF – 26 June 2025 | 15 Private Banking - Consolidate our leading position and accelerate our digital business STRATEGIC PRIORITIES | ⎯ Continue to be the #1 Private Bank Maintain our position as leading Private Bank in France Accelerate our Digital business and Tech investments • Accelerate digital client acquisition with our e-Private model for autonomy, digital journeys and on-demand expertise • Tech, Data and AI platforms for: − targeted conversational marketing − extra-personalised advisory − customised and automated client reports • Support growth of our High and Ultra High Net Worth clients through a new Wealth Management platform offering dedicated investment & financing solutions #1 in AuM in 20241 - €139bn • Grow faster with external client acquisition on targeted segments: Upper Affluent clients with AuM>€1m, Multi-Family offices, Private Holdings • Leverage on Wealth Management and CIB platforms: discretionary portfolio management (+€12.5bn AuM by 2030, starting from €30.9bn in 2024), ESG investments, structured investments products, private assets, real estate • Leverage on our unique CPBF integrated model − Develop Entrepreneurs franchise and deepen synergies with Corporate Banking − Upstream Retail clients: +7,300 households from Retail to Private Banking in 2024 Best Private Bank 2025 +37% AuM by 2030
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Deep Dive CPBF – 26 June 2025 | 16 ⎯ Continue to adapt our comparatively small network in the French context 1,545 branches in 2024 vs. 2,095 in 2014 Focus on high income areas 2024 2026 Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 CPBF Peer 7 Peer 8 ⎯ Invest in dedicated and highly trained advisors1 Retail Banking - Transform our model • Develop client wealth and increase share of affluent segment, starting from 32% for active clients in 2024 • Leverage on Private Banking & Wealth Management platforms − Offer best-in-class advisory services − Leverage on our #1 position on savings products − Grow stock market and structured investment products • Enhanced Mobile Apps for our two brands BNP Paribas (high expertise needs) and Hello bank! (fully digital) • Enhanced Tech platform for: − Digital acquisition − Digital sales − Best-in-class end-to-end digital journeys and personalised client relationships • ‘Client-need’ coverage model − Daily banking: digital end-to-end − Assistance: customer service centre − Expertise: highly trained advisor − Full digital: Hello bank! • More digital interactions for increased digital client needs • Critical branch size model for enhanced expertise in each branch ⎯ Increase digital client acquisition and digital sales ~1,800 to 2,100 ~1,300 STRATEGIC PRIORITIES | Focus on delivering value and upgrade our client franchise Accelerate investments in Tech platform for enhanced digital experience Transform our coverage and operating model Digital sales – in M 10 1.1 2024 2025 2026 2027 2028 2029 2030 2024 2025 2026 2027 2028 2029 2030 Digital client acquisitions – in K 220 760 Network benchmark in France – 20242 FTEs
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Deep Dive CPBF – 26 June 2025 | 17 ⎯ Complementary brands to support our clients at every stage of their journey … synchronised with Group producers on digital customer journeys Scalable digital acquisition engine… Retail Banking - Fully leverage the commercial & tech advantage of our digital brand Hello bank!STRATEGIC PRIORITIES | ⎯ Hello bank! value-driven priorities⎯ Hello bank! milestones Continue acceleration of selective client acquisition to develop our freemium model Become the primary bank for a growing share of clients (starting from 50% for active clients in 2024) and increase deposits Increase revenues thanks to higher rate of product per client, starting from €10.8k of average outstanding per active client in 2024 2013 | Launch of Hello bank! 100% digital brand 2019 | 500,000 clients milestones and new App launch 2020 | Launch of Hello One and Hello Prime offers 2021 | Launch of Hello bank! Pro offers 2024 | 1 million clients milestone 2025 | Top 3 Best recommended bank1 2030 | >2 million clients One IT core banking system One IBAN + fluidity in customer journeys ensuring easy access to all products Hello Team Affi Connect & Customer Service Privilege Connect • 100% digital • Full autonomy • Dedicated advisor • High expertise needs • Dedicated advisor • Wealth Management needs Common client service team catering to different client needs
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Deep Dive CPBF – 26 June 2025 | 18 Retail Banking becomes ‘Individual & Entrepreneur Banking’ with a new outreach campaign • Social media • Digital media: podcasts, VOD platforms, newspapers web & app versions • Traditional media: poster, press, sponsoring • Campaign adapted to each region for a better local outreach to Corporate clients with «BNP Paribas Entreprises» 360° Media Strategy focused on digital Local campaign closer to clients C o n n e c t i n g w i t h h i g h - v a l u e c l i e n t s t h r o u g h a m i x o f p r e m i u m a n d m a s s m e d i a , a s w e l l a s a s t r o n g d i g i t a l a n d l o c a l p r e s e n c e STRATEGIC PRIORITIES |
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Deep Dive CPBF – 26 June 2025 | 19 Data driven Leverage on data for a personalised customer relationship • Holistic customer vision regardless of the channel • Leveraging data to offer best engagement decisions at every touch point Content Supply Chain Provide relevant content in real time to feed client digital experience • Real time, more personalised product offering • Next best action based on latest interactions and browsing history • Optimise management and distribution of content to deliver consistent customer experience across all channels Personalisation and decisional Engage with clients through hyper-personalised interactions • Deliver a hyper-relevant and contextual customer experience in real time • Prepare in real time a next best action based on recent calls and navigation browsing Conversational Offer a communication channel adapted to client need: human and digital • AI assistant or human advisor depending on client needs • Personalised conversations, 24/7 • Improving engagement, efficiency and satisfaction Advertising management Improve advertising management with targeted digital campaigns • Industrialise and improve targeted advertising • Maximise ROI of marketing campaigns Improved journeys Prioritise App channel • New journey, mortgage journey, legacy journey • Optimise CPBF, Group and partners’ factories • Effortless cross-sell journeys Accelerating our digital business through Marketing Tech investments Targeted Marketing Tech investments in 6 areas to achieve best-in-class standards STRATEGIC PRIORITIES |
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Deep Dive CPBF – 26 June 2025 | 20 Our success will be driven by our Agile, Tech and AI capabilities to better serve our clients and improve efficiencyASSETS | • Increase revenues at marginal costs through automation • Leverage on external partnerships, Group AI platform, AI CPBF Centre of Expertise and AI factory • ~60 live use cases and ~20 use cases in development • Multi-market IT Platform: 87% applications mutualised • Rationalisation and industrialisation: ~320 applications hosted in dedicated Clouds • Real-time functionalities, API integration and servicing strategy deployed: ~400 APIs live • IT Quality: -21% reduction in IT incidents since 2021 • Covering 95% of our IT applications and customer journeys • Involving +2,500 employees • Enhanced client centricity with +150 customer journey process owners, delivering in Agile mode • Improved team empowerment: Employee NPS1 +12 pts2 Best-in-class Tech infrastructure platform Robust AI foundations to deliver AI roadmap Tech and Organisation enablers Agile@Scale organisation since 2023 S t r o n g f o u n d a t i o n t o d r i v e t r a n s f o r m a t i o n
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Deep Dive CPBF – 26 June 2025 | 21 Focus on our AI capabilitiesASSETS | : Gen AI use cases Marketing • Advisor Assistant for inbound calls Sales • Instant lending Corporate • Instant lending Pro-SME • Mortgage pricing • SMEs Loans • Consumer credit pricing Fraud & Regtech • Wire transfer fraud • Withdrawal fraud • Machine Learning for AML • KYC recertification Client Servicing • Smart mail inbox for advisors • Client Call analyser • Client Call minutes automation • Virtual assistant for clients • Virtual assistant for employee Customer knowledge management • Mortgage credit process automation • Mandates & proxies automation Sales industrialisation ~35 use cases Cost-to-serve optimisation ~30 use cases Cost of Risk optimisation ~15 use cases External Partnerships (e.g. Mistral) Group AI platforms (e.g. LLM, Doc Factory, Speech to text, Data science, CPBS virtual assistant, GPUs) AI Factory and AI / GenAI Centre of Excellence ⎯ AI is a key enabler to increase revenues at marginal costs through automation ⎯ CPBF reached a solid level of AI maturity and will continue to deliver the AI roadmap… ⎯ …leveraging on a robust AI set-up
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Deep Dive CPBF – 26 June 2025 | 22 Partnerships and mutualised platforms at the heart of our value proposition to secure profitable growthASSETS | ⎯ Mutualised banking activities Mutualised Securities Services and Savings banking activities to drive operational performance. ⎯ Savings & Investments platform Tech platform offering Digital solutions for investment and financing advisory, with fluid and personalised digital journeys for clients and their advisors. ⎯ ATM mutualised platform Provide access to our clients to more ATM services (x3 to reach 7,000 sites), while improving operational efficiency across the ATM network. ⎯ European payment services A sovereign, cutting edge European solution for all types of payments combining real-time, bank-grade security and enhanced customer value. ⎯ Payment processing Innovative payments platform processing all card payments for BNP Paribas and BPCE Group in Europe (17bn transactions per year), strengthening our ability to offer efficient and innovative services to our individual and entrepreneur clients. ⎯ Mutualised Core Banking System A dedicated Wealth Management platform to address Ultra High Net Worth Individuals’ needs: multi-assets / multi-currency investment and financing solutions. Wealth Management Platform Roll-out completed Roll-out in progress Roll-out to be launched
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Deep Dive CPBF – 26 June 2025 | 23 Our success will be driven by the expertise and engagement of our peopleASSETS | ⎯ Training – 2024 83% front-officers conducted an expertise self-assessment 456 apprentices joined B-School ⎯ Gender Policy – 2024 59% of women who were involved in “Boost Her Career” have been promoted to a Senior Management Position 61% of women in CPBF3 37% of women in Senior Management ⎯ Our People strategy is key to our success Strengthen upskilling / reskilling program Strengthen expertise on savings offers and wealth management Foster regional mobility at CPBF and Group level Employee experience Contain turn-over in regions with stretched talent pools Continuously adapt expertise to evolving clients’ needs Pursue thorough strategic workforce planning Develop remote client management skills: Visio, App Improve attractivity for relationship manager positions 96 % ⎯ Engagement & Attractivity - 2024 96% score1 12 years in a row ‘Top Employer’2 B N P P a r i b a s c o u n t s o n e v e r y e m p l o y e e t o d r i v e t h e C P B F t r a n s f o r m a t i o n f o r w a r d w i t h n o d e p a r t u r e p l a n
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Deep Dive CPBF – 26 June 2025 | 24 We have defined a clear strategy to strengthen our leading position and deliver 2028 profitability targetCONCLUSION | Revenues1 Jaws Effect Cost of Risk RWA2 RONE3 2028 >+5% 24-28 CAGR +3-4 pts on average over 24-28 <25 bps 24-28 ~+2% 24-28 CAGR >17% 1 2 3 4 5 ⎯ Ambitions • CPBF’s strategic plan will raise the profitability to >17% RONE by 2028 • CPBF’s RONE trajectory is supported by revenue rebound and discipline across the board • CPBF’s strong revenue growth will be significantly supported by the anticipated NII rebound ⎯ Priorities • Corporate Banking | Reinforce our leading positions on Large & Mid-Caps and grow SME franchise • Private Banking | Consolidate our leading position and accelerate Digital Private Banking growth • Individual & Entrepreneur Banking | Transform our model: accelerate investments in Tech platform, upgrade client franchise, transform coverage and operating model ⎯ Enablers of our success • Agile, Tech and AI capabilities to better serve our clients and improve efficiency • Partnerships and mutualised platforms at the heart of our value proposition to secure profitable growth • Expertise and engagement of our people
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Deep Dive CPBF – 26 June 2025 | 25 PF and CPBF plans will improve their profitability to >17% RONE by 2028CONCLUSION | CPBF (100% PB)Personal Finance Outstanding1 ~+4% 24-28 CAGR ~+1% 24-28 CAGR Revenues ~+5.5% 24-28 CAGR >+5% 24-28 CAGR Jaws Effect ~+4 pts 24-28 +3-4 pts on average over 24-28 Cost of risk ~1.30% < 25 bps RWA2 ~+1% 24-28 CAGR ~+2% 24-28 CAGR RONE3 >17% >17% 1 2 3 4 5
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Deep Dive CPBF – 26 June 2025 | 26 2024 2025 2026 2027 2028 2029 2030 ⎯ Our growth levers are in place CPBF strategic plan is part of the Group’s growth and profitability trajectory • A cutting-edge platform and powerful growth engine • Continued gains in market share thanks to the strength of the diversified client-franchise, a low risk profile and optimised capital • New strategic plan* for CPBF and extension of the Personal Finance plan to 2028, resulting in an expected impact on Group RoTE of +1%, including +0.5% by 2026 • Commercial & Personal Banking revenues driven by the new interest rate environment, with CAGR ~+4% in 2024-2026. >+3% euro zone trajectory confirmed for 2025 • Continued strong organic growth dynamics in Insurance, Asset Management, and Wealth Management • In addition, strong acceleration driven by external growth: AXA IM5 project, Wealth Management, and Life Insurance *The plan has been presented to the works council for consultation RoTE 2024 10.9% RoTE 2025e 11.5% RoTE 2026e 12% Net income, Group share in €bn Ambition RoTE 2028 Our diversified model, our growth levers and our cycle-proof resilience constitute advantages in the current environment SIU5 Ambition RoTE 2030 Revenues Jaws effect Cost of risk1 Net income2 EPS3 > +5% 24-26 CAGR ~+1.5 pts on average per year < 40 bps > +7% 24-26 CAGR > +8% 24-26 CAGR 1 2 3 4 5 CET1 ratio, pre-FRTB ~12.3% CIB CPBS IPS AXA IM4 project Wealth Management CPBF* and PF strategic plans CONCLUSION |
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Deep Dive CPBF – 26 June 2025 | 27 ENDNOTES • Slide 3 1. CPBS revenues excluding contribution from Bank of the West in 2022 2. Compound annual growth rate (CAGR) 3. 2024 restated to reflect the finalisation of Basel 3 (Basel 4), the change in the allocation of normalised equity from 11% to 12% of risk-weighted assets, and the reclassification of income and business data from the non-strategic perimeter of Personal Finance to Corporate Centre. 4. Including 2/3 of Private Banking with PEL/CEL effects 5. RONE: pre-tax income / allocated equity (equity allocation at 12% of RWAs) • Slide 4 1. Source: BNP Paribas 2. OpinionWay Survey Oct. 2024 based on five criteria: (i) une banque solide qui inspire la confiance, (ii) la qualité de service, (iii) l’écoute des clients, (iv) une banque à laquelle je suis attachée, (v) la meilleure banque selon moi 3. Net Promoter Score • Slide 5 1. 2024 restated to reflect the finalisation of Basel 3 (Basel 4), the change in the allocation of normalised equity from 11% to 12% of risk-weighted assets 2. RWA end of period 3. RONE: pre-tax income / allocated equity (equity allocation at 12% of RWAs) • Slide 6 1. Individual, small businesses and entrepreneur clients for our two brands BNP Paribas and Hello bank! as of 31.12.2024 2. Including 100% of Private Banking excluding PEL/CEL effects 3. Ultra High Net Worth Individuals 4. High Net Worth Individuals • Slide 7 1. Scope: Retail and Private Banking Assets Under Management 2. Scope: Commercial and Personal Banking in France 3. Market rate deposits and term deposits 4. Securities and mutual funds • Slide 8 1. Including 100% of Private Banking excluding PEL/CEL effects 2. 2024 restated to reflect the finalisation of Basel 3 (Basel 4), the change in the allocation of normalised equity from 11% to 12% of risk-weighted assets 3. Internal analysis based on reported information of 6 large traditional banks 4. Including restructuring, adaptation and IT reinforcement costs • Slide 9 1. Cost of risk / Average loan outstanding (bps) • Slide 14 1. Coalition Greenwich Voice of Client 2024 EMEA Corporate Banking & Cash Management Study. Analysis based on Coalition Greenwich interviews with 906/974 Corporates with annual turnover over EUR500m in Europe, and BNPP’s internal taxonomy. 2. 2025 Coalition Greenwich Leaders: European Corporate Banking, Cash Management and FX | Coalition Greenwich 3. Non-Banking Financial institutions 4. Innovative: market penetration 2024: 88% NEXT40, 84% FT120 5. Dealogic 2024, #1 France by volume 6. Dealogic 2024, #1 France by volume & revenue 7. Dealogic 2024, #1 France by revenue 8. Coalition Greenwich Voice of Client 2024 EMEA Corporate Banking & Cash Management Study. Analysis based on Coalition Greenwich interviews with 906/974 Corporates with annual turnover over EUR500m in Europe, and BNPP’s internal taxonomy. • Slide 15 1. #1 in France by Assets Under Management from 2022 to 2024, estimations issued from April 2025 Frame study • Slide 16 1. Affinity Advisors, Wealth Development Advisors, Wealth Management Advisors 2. Info Stat Marketing – December 2024 • Slide 17 1. Pricebank 2025 Award • Slide 20 1. Net Promoter Score 2. Employee Net Promoter Score evolution between H2 2022 and H2 2024 • Slide 23 1. Internal HR Pulse survey - November 2024 2. Top Employer 2025 3. CPBF perimeter excluding Monaco, GIE Océan, Antilles-Guyane, Nouvelle Calédonie, La Réunion, Partecis, Copartis • Slide 24 1. Including 100% of Private Banking excluding PEL/CEL effects 2. RWA end of period 3. RONE: pre-tax income / allocated equity (equity allocation at 12% of RWAs) • Slide 25 1. Average Outstanding 2. RWA end of period 3. RONE: pre-tax income / allocated equity (equity allocation at 12% of RWAs) • Slide 26 1. Cost of risk does not include “Other net losses for risks on financial instruments” 2. Net income, Group share 3. Earnings per share calculated on the basis of Net income, Group share, adjusted for the remuneration of undated super-subordinated notes and the average end-of-period number of shares 4. Subject to agreements with the relevant authorities 5. SIU: Savings and Investment Union
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Deep Dive CPBF – 26 June 2025 | 28 24 July 2025 – 2Q25 earnings reporting date 30 Sept. 2025 – 2025 Interim dividend payment date 28 Oct. 2025 – 3Q25 earnings reporting date Bénédicte Thibord, Head of Investor Relations and Financial Information Equity Raphaëlle Bouvier-Flory Lisa Bugat Olivier Parenty Guillaume Tiberghien Didier Leblanc Tania Mansour Debt & ratings agencies Olivier Parenty Didier Leblanc Tania Mansour Individual shareholders & ESG Antoine Labarsouque Investor.relations@bnpparibas.com ⎯ Investor Relations ⎯ Upcoming events CONTACTS AND UPCOMING EVENTS The consensus, compiled and aggregated by the Investor Relations team, is available via the following link: Equity BNP Paribas | Investors & Shareholders | BNP Paribas Group It reflects the arithmetic average forecasts of various P&L headings for the Group, sent by analysts invited by BNP Paribas to contribute to the consensus.
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Deep Dive CPBF – 26 June 2025 | 29 The figures included in this presentation are unaudited. As a reminder, on 28 March 2025, BNP Paribas published quarterly series for 2024, restated to reflect, among other things, the transposition into European Union law of the finalisation of Basel 3 (Basel 4) by Regulation (EU) 2024/1623 of the European Parliament and of the Council of 31 May 2024 amending Regulation (EU) No 575/2013, the change in the allocation of normalised equity from 11% to 12% of risk-weighted assets, and the reclassification of income and business data from the non-strategic perimeter of Personal Finance to Corporate Centre. This presentation reflects this restatement. This presentation includes forward-looking statements based on current beliefs and expectations about future events. Forward-looking statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future events, operations, products and services, and statements regarding future performance and synergies. Forward-looking statements are not guarantees of future performance and are subject to inherent risks, uncertainties and assumptions about BNP Paribas and its subsidiaries and investments, developments of BNP Paribas and its subsidiaries, banking industry trends, future capital expenditures and acquisitions, changes in economic conditions globally, or in BNP Paribas’ principal local markets, the competitive market and regulatory factors. Those events are uncertain; their outcome may differ from current expectations which may in turn significantly affect expected results. Actual results may differ materially from those projected or implied in these forward-looking statements. Any forward-looking statement contained in this presentation speaks as of the date of this presentation. Consequently, actual results may differ from those projected or implied in these forward-looking statements due to a variety of factors. These factors include among others: i) BNP Paribas’s ability to achieve its objectives, ii) the impacts from central bank interest rate policies, whether due to continued elevated interest rates or potential significant reductions in interest rates, iii) changes (including interpretation) in regulatory capital and liquidity rules, iv) continued elevated levels of, or any resurgence in, inflation and its impacts, v) the various geopolitical uncertainties and impacts related notably to the war in Ukraine, conflicts in the Middle East, vi) the various uncertainties and impacts related to political instability, including in France, or vi) the precautionary statements included in this presentation. BNP Paribas undertakes no obligation to publicly revise or update any forward-looking statements in light of new information or future events. It should be recalled in this regard that the Supervisory Review and Evaluation Process is carried out each year by the European Central Bank, which can modify each year its capital adequacy ratio requirements for BNP Paribas. The information contained in this presentation as it relates to parties other than BNP Paribas or derived from external sources has not been independently verified and no representation or warranty expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. Neither BNP Paribas nor its representatives shall have any liability whatsoever in negligence or otherwise for any loss however arising from any use of this presentation or its contents or otherwise arising in connection with this presentation or any other information or material discussed. The sum of values contained in the tables and analyses may differ slightly from the total reported due to rounding. DISCLAIMER