Mediaroom
Press release

Find here the latest press releases from BNP Paribas

  • Press release

BNP Paribas Group - Second quarter 2001 results

Published On 05.09.2001
NET INCOME, GROUP SHARE, OF 1,157 MILLION EUROS,
GROSS OPERATING INCOME UP 7.6 % COMPARED TO THE 2nd QUARTER 2000


Download the press release by clicking here (unavailable link)
Download the analyst presentation by clicking here. (unavailable link)


* In a context of a more sluggish economy and bearish financial markets, the Group had operating results superior to those in the second quarter 2000, which benefited from a combination of positive factors:

- Gross operating income: 1,683 million euros (+7.6%)
- Operating income (+4.4%):
- Net income, group share: 1,157 million euros, down 7.1% due a lesser contribution by non-operating items.

* The sustained growth in the Retail Banking business continued and its revenues were up again.

* The Private Banking, Asset Management, Insurance and Securities Services core business increased the amount of assets gathered, meeting its targets and improving its performance despite the situation in the financial markets.

* The Corporate and Investment Banking business, most adversely affected by the developments in the economy and the financial services market, remained resilient in the face of these developments and competitive compared to its international competitors.

On 4 September 2001, the Board of Directors of BNP Paribas met to examine the Group's results for the second quarter of the year as well as the interim accounts.


Gross operating income up 7.6% compared to the second quarter 2000.

The substantial slowdown in the global economy, the decline in various equity markets, and the wait-and-see reaction of investors, which were already apparent in the beginning of the year, continued through the second quarter. This situation affects banks world-wide, especially equity-related activities, and is in stark contrast with the first half 2000 in which banking and financial services benefited from an exceptional combination of positive factors for the economy as well as for capital markets and risks.

Despite this situation, BNP Paribas Group's net banking income was up 5.3% in the second quarter 2001, compared to the second quarter 2000 at 4,371 million euros.

After operating expenses and depreciation, gross operating income came to 1,683 million euros, up 7.6% compared to the second quarter 2000.

Despite provisions that were up (+24.7% compared to the exceptionally low level at the time), operating income rose 4.4%, to 1,375 million euros, compared to the second quarter 2000.

With capital gains realised by the Group in the second quarter (344 million euros) down 42% compared to the second quarter 2000, net income, group share, came to a total of 1,157 million euros (-7.1% compared to the second quarter 2000).

For the entire first half 2001, gross operating income rose 5.2% compared to the first half 2000, which was exceptionally good. Cost/income ratio was stable at 61% and testifies to BNP Paribas' improved competitive position compared to its leading competitors. All three of the Group's core businesses contributed to this performance.