FIRST ACHIEVEMENTS IN THE SUCCESSFUL INTEGRATION OF BNL
• Revenues: €8.2bn (+ 20.5%/1Q06)
• Operating expenses and depreciation: €4.6bn (+ 18.7%/1Q06)
• Gross operating income: €3.6bn (+ 22.7%/1Q06)
• Net income group share: €2,507mn (+ 24.5%/1Q06)
STRONG ORGANIC GROWTH IN CORE BUSINESSES MAINTAINED (*)
• Revenues: + 7.1%/1Q06
• Operating expenses and depreciation: + 5.8%/1Q06
• Gross operating income: + 8.9%/1Q06
(*) At constant scope and exchange rates
On 4 May 2007, in a meeting chaired by Michel Pébereau, the BNP Paribas Board of Directors examined the Group's results for the first quarter of the year.
RESULTS UP SUBSTANTIALLY
BNP Paribas once again showed substantial growth, booking quarterly revenues of €8,213 million, up 20.5% compared to the first quarter of 2006. This performance is due to the successful integration of BNL, with the first resulting synergies, to sustained organic growth at the Group's core businesses (+ 7.1% at constant scope and exchange rates) and to significant capital gains.
The trend in operating expenses (€4,586 million) reflects this forward momentum, whilst remaining under control: + 18.7% compared to the first quarter of 2006 (+ 5.8% at constant scope and exchange rates). This yielded a positive jaws effect of 1.8 points for the Group and 1.3 points for the core businesses at constant scope and exchange rates.
Gross operating income totalled €3,627 million, up 22.7% compared to the first quarter of 2006 (+ 8.9% for the core businesses at constant scope and exchange rates).
Provisions (€260 million) were €144 million higher than in the first quarter of 2006. Of that amount, €109 million were attributable to expanded scope, chiefly related to BNL.
Net income Group share was €2,507 million, up 24.5% compared to the first quarter of 2006.
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