BNP Paribas completes the acquisition of FLOA
In a very fast-growing e-commerce market with changing uses and customer expectations in terms of payments, this operation allows FLOA, already present in France, Spain, Belgium, Italy and Portugal, to plan for a new cycle of development, by capitalizing on the European footprint, the expertise and businesses of BNP Paribas group, with a view to a wider deployment in Europe.
« We look forward to welcoming all the FLOA teams in the near future, whom I warmly welcome. Through their commitment and expertise in customer service, they have been able to develop high-quality services based on cutting-edge technology. This operation thus enables BNP Paribas to strengthen its portfolio of innovative payment and credit solutions to provide a complete offer to its customers in Europe, and is fully in line with the Group’s strong ambitions to accelerate in this growing sector», says Thierry Laborde, Chief Operating Officer of BNP Paribas.
Notification by the ACPR of the designation of BNP Paribas on the 2021 list of G-SIBs
BNP Paribas has received the notification by the ACPR (“Autorité de contrôle prudentiel et de résolution”), dated 23 November 2021, that the Group has been designated on the 2021 list of Global Systemically Important Banks (G-SIBs) in the bucket 3 corresponding to its score based on end-2020 data.
Consequently, the requirement of G-SIBs buffer applicable for the group should be 2% of the total risk-weighted assets beginning January 2023.
As a reminder, given the score of the previous assessment, the requirement of G-SIBs buffer applicable to the Group from the 1st January 2022 will be of 1.5%, unchanged compared those currently applicable.
The Group is well above the regulatory requirements with, as at 30 September 2021, a CET1 ratio at 13.0%, a Tier 1 ratio at 14.25% and a Total Capital ratio at 16.6%, in accordance with the transitional provisions relating to the introduction of IFRS 9.
BNP Paribas: Άνω των εκτιμήσεων τα κέρδη γ΄ τριμήνου
Καθαρά κέρδη αυξημένα κατά 32,2% εμφάνισε η μεγαλύτερη εισηγμένη γαλλική τράπεζα BNP Paribas, σε σύγκριση με το αντίστοιχο περσινό διάστημα, φθάνοντας στα 2,50 δισ. ευρώ έναντι προσδοκιών για 2,23 δισ. ευρώ. Το αποτέλεσμα αυτό οφείλεται στη μείωση των προβλέψεων για απώλειες από τα δάνεια λόγω της πανδημίας, ενώ το trading μετοχών σημείωσε απότομη άνοδο
Τα έσοδα της τράπεζας έφτασαν τα 11,4 δισ. ευρώ από 10,89 δισ. ευρώ στο γ΄ τρίμηνο του 2020 και αντί εκτίμησης των αναλυτών για έσοδα 11,25 δισ. ευρώ. Το κόστος κινδύνου, που αντανακλά τις προβλέψεις για επισφαλή δάνεια, μειώθηκε κατά 43,3%.
Η BNP Paribas, η οποία ξεπέρασε τη βρετανική τράπεζα HSBC πέρυσι και έγινε η μεγαλύτερη τράπεζα της Ευρώπης από άποψη ενεργητικού, δήλωσε επίσης ότι θα ξεκινήσει ένα πρόγραμμα επαναγοράς μετοχών ύψους 900 εκατ. ευρώ την 1η Νοεμβρίου, το οποίο θα ολοκληρωθεί το αργότερο μέχρι τις 8 Φεβρουαρίου του 2022, όταν και θα ανακοινώσει τα αποτελέσματά της για το σύνολο της χρήσης του 2021.
BNP Paribas: Αποκτά πλειοψηφικό ποσοστό στην ολλανδική Dynamic Credit
Η BNP Paribas Asset Management συμφώνησε στην εξαγορά πλειοψηφικού ποσοστού στην Dynamic Credit Group, μια ολλανδική εταιρεία διαχείρισης asset, με 9 δισ. ευρώ υπό διαχείριση.
Η τιμή της εξαγοράς δεν αποκαλύφθηκε.
Η γαλλική τράπεζα τόνισε πως η συμφωνία θα επιτρέψει στην Dynamic Credit να έχει πρόσβαση σε ένα μεγαλύτερο δίκτυο διανομής.
Το χαρτοφυλάκιο της Dynamic Credit αποτελείται κυρίως από ολλανδικά στεγαστικά, για τα οποία η BNP Paribas δήλωσε πως είχαν καλές δυνατότητες ανάπτυξης.
«Δεδομένου του ελκυστικού προφίλ ρίσκου-αποδόσεων και της χαμηλής κεφαλαιακής επιβάρυνσης με βάση το Solvency II, τα ολλανδικά στεγαστικά δάνεια είναι μια πολύ ελκυστική επένδυση για θεσμικούς επενδυτές στο περιβάλλον των χαμηλών επιτοκίων.
»Οι επενδύσεις σε ολλανδικά στεγαστικά δάνεια αναμένεται να συνεχίσουν να αυξάνονται σταδιακά» τόνισε η BNP Paribas.
Το βασικό συμβουλευτικό όργανο πολιτικής της ολλανδικής κυβέρνησης ανακοίνωσε τον Αύγουστο ότι η οικονομική ανάπτυξη στην Ολλανδία επρόκειτο να είναι ισχυρότερη από ό,τι αναμενόταν προηγουμένως.
BNP Paribas appoints Sandro Pierri CEO of BNP Paribas Asset Management
BNP Paribas announces the appointment of Sandro Pierri as CEO of BNP Paribas Asset Management, its asset management arm, with effect from 1 July 2021.
Based in Paris, Sandro Pierri will report to Renaud Dumora, future[1] Deputy C0O of BNP Paribas, in charge of the Investment & Protection Services Division of the Group which includes BNP Paribas Asset Management, alongside BNP Paribas Cardif, BNP Paribas Wealth Management and BNP Paribas Real Estate. He succeeds Frederic Janbon, who will become Special Advisor to Renaud Dumora, to ensure the transition, before leaving the Group at the end of the year to pursue other professional opportunities.
Jean-Laurent Bonnafé, CEO of BNPP Group, comments:
«I would like to sincerely thank Frederic Janbon for his overall contribution to the BNP Paribas Group, in which he spent most of his professional career. During his tenure at the head of Fixed Income and up until 2014, he successfully built and ran a powerful and recognized fixed income and debt capital market franchise. Since 2015, he has refocused and transformed our asset management activities into a fully integrated platform delivering solid investment performances to our clients. Under his leadership, BNP Paribas Asset Management has become a global leader in sustainable investment.»
Renaud Dumora adds :
«The appointment of Sandro Pierri, who has more than 30 years of experience in the asset management industry and has been Deputy CEO for BNP Paribas Asset Management since 1 January 2021, demonstrates the capacity of our asset management business to organise a seamless succession plan which will ensure consistency with the strategy developed by Frederic Janbon. Sandro has transformed BNP Paribas Asset Management’s Global Client Group into a client centric distribution platform to support the growth strategy of the business. This has proven successful with positive results in 2020, despite the impact of the pandemic. As CEO, he will uphold the strategy, philosophy and values of the firm within the framework of our Group next business development plan and will reinforce the leadership of BNP Paribas Asset Management in sustainable investment.»
Biography
Sandro Pierri has more than 30 years’ experience in the asset management industry. He joined BNPP AM in 2017 as Head of the Global Client Group (‘GCG), its global sales and marketing organisation, and has made a notable contribution to implementing BNPP AM’s growth plan, positioning it as a key player offering high added value investment solutions for individual savers, companies and institutions.
Sandro began his career in 1989 as a portfolio manager with San Paolo Fondi, moving to BNL Gestioni in 1992, before joining ING Investment Management in Italy in 1994, where he held several commercial roles. Between 2002 and 2003 he was Chief Executive of ING Group’s Italian retail business. Following the acquisition by UniCredit/Pioneer of ING’s Italian business, he joined Pioneer Investments, UniCredit’s asset management division, in 2004. He spent 10 years in various commercial and managerial positions, including being appointed CEO in 2012. Sandro graduated in Economics from the Università degli Studi di Torino, Italy.
1 As of May 2021
BNP Paribas: Κέρδη 1,8 δισ. ευρώ το πρώτο τρίμηνο 2021
Στα 1,8 δισεκατομμυρία ευρώ (2,18 δισεκατομμύρια δολάρια) ανήλθαν τα κέρδη το πρώτο τρίμηνο του 2021 σύμφωνα με το CNBC, για την ΒΝP Paribas καταγράφοντας αύξηση 11% από το προηγούμενο τρίμηνο.
Τα αποτελέσματα ήταν καλύτερα των προβλέψεων, καθώς οι αναλυτές προέβλεπαν κέρδη ύψους 1,2 δισ. ευρώ.
Η γαλλική τράπεζα ανέφερε ισχυρά αποτελέσματα από το τμήμα επενδυτικών τραπεζικών όπου τα έσοδα αυξήθηκαν σχεδόν κατά 25% από πριν από ένα χρόνο.
«Βασικά, συγκεντρώσαμε περισσότερα από 100 δισεκατομμύρια ευρώ στη χρηματοδότηση. Και αυτό είναι ένα επίπεδο δραστηριότητας, το οποίο είναι καλύτερο από αυτό που είδαμε το 2020 -είναι ακόμη καλύτερο από αυτό που είδαμε το 2019. Άρα αυτό είναι αρκετά καλό», δήλωσε ο Lars Machenil, CFO της BNP Paribas, σύμφωνα με το CNBC.
BNP Paribas joins the Net-Zero Banking Alliance launched by the UNEP
In line with its commitments to fight climate change, BNP Paribas has joined the Net-Zero Banking Alliance (NZBA) launched today by the United Nations Environment Programme Finance Initiative (UNEP FI).
This banking alliance is a decisive step in the mobilisation of the financial sector for climate. It is part of the Glasgow Financial Alliance for Net Zero chaired by Mark Carney ahead of COP26.
BNP Paribas has included the pursuit of positive environmental impacts in its ‘company purpose’ and intends to make sustainable finance a major driver of its next strategic plan. The Group is convinced that achieving the objectives of the Paris Agreement requires the mobilisation of the entire financial system.
In particular, since the signature of the Paris agreement in 2015, the Group has joined:
UNEP’s Collective Commitment to Climate Action in 2019, a group of banks working concretely to align their credit portfolio with the objectives of the Paris Agreement.
the Financial Services Task Force of the Sustainable Market Initiative created by the Prince of Wales in February 2021, which brings together some of the largest US, UK and European banks determined to accelerate the transformation of their financing model to achieve the transition to a decarbonised economy. These banks finance a significant portion of economic activity and can therefore, through their credit and investment decisions, stimulate and support the transformation of companies.
The NZBA is hosted by the Collective Commitment to Climate Action and has been built in partnership with the Financial Services Task Force, which has naturally led BNP Paribas to join this alliance.
NZBA members commit to:
Align greenhouse gas emissions arising from their credit and investment for own account activities with the path required to achieve carbon neutrality in 2050 (temperature increase limited to 1.5° C);
Build on credible transition scenarios published by recognized bodies (IPCC, IEA);
Focus on the most greenhouse gas emitting sectors and playing a key role in the transition to a carbon neutral economy;
Set interim targets, no later than 2030;
Annually publish their progress and the associated action plans.
BNP Paribas’ accession to the NZBA is in line with its commitment made in the wake of COP21 in 2015 to align its credit portfolio with the objectives of the Paris Agreement.
Between 2015 and 2020, the Group made a special effort to reduce its support for economic activities that are most damaging to the climate. In 2017, it stopped providing any new financial services to companies specialising in unconventional hydrocarbons (shale gas, etc.). In 2020, it stepped up its coal policy by immediately ceasing funding to companies developing new projects from this energy, and requiring remaining customers to have a timetable for exiting thermal coal by 2030 in EU and OECD countries, and by 2040 in the rest of the world, all along the value chain (coal mines, coal fired power plants and coal related infrastructure). This policy led BNP Paribas to put an end to its relationship with around half of the electricity companies that were its customers worldwide by 2020.
Since December 2018, the group has begun work to align its credit portfolio with the objectives of the Paris Agreement. In September 2020, BNP Paribas and four other European banks published the first report on the application of the PACTA methodology to measure the alignment of their credit portfolios with five highly carbonised sectors (fossil fuel extraction, power generation, transportation, steel and cement), accounting for about 75% of direct greenhouse gas emissions worldwide according to the IEA. While these sectors represent only a minority share of bank loans (for example, the oil and gas sector only accounts for 1.9% of BNP Paribas’ credit portfolio), their transformation is a vital challenge in reducing greenhouse gas emissions. Regarding the energy sector, which is a priority for BNP Paribas in terms of the trajectory of its credit portfolio, a first roadmap from PACTA will be published shortly;
These advances are included in the TCFD report (Task Force on Climate related Financial Disclosures report) published each year by BNP Paribas;
In addition, BNP Paribas has been accelerating the financing of all activities that contribute to a decarbonised economy by setting ambitious – regularly exceeded – targets for financing renewable energies since 2015 and investing proactively in green tech. Moreover, BNP Paribas is one of the leading banks issuing green and sustainable bonds in the global market.
‘The signing of a common net zero carbon commitment, with intermediate targets, is a decisive step in the financial sector’s mobilisation in the defense of our climate. It sends a strong signal to all stakeholders, and provides a methodological basis for action, as well as a cultural lever for the environmental transition of banks and their customers. Since COP 21 in December 2015, BNP Paribas has committed to gradually aligning its credit portfolio with the objectives of the Paris Agreement. We began by disengaging from the most polluting activities like shale gas or coal and setting ourselves very ambitious targets for supporting green technologies. We are now mobilised to meet the broader challenge of systematically encouraging and supporting transformation for all our clients across all sectors of activity and in projects that are already underway. To do so, we are thoroughly evolving our processes, products and services, decision criteria and skills.‘
Jean-Laurent Bonnafé, Director and Chief Executive Officer of BNP Paribas
BNP Paribas is looking to acquire up to 100% of Exane
After a successful 17-year partnership, BNP Paribas is looking to acquire up to 100% of Exane*, raising its stake from the 50% currently held.
The contemplated transaction would further strengthen and widen the range of cash equity and derivatives services BNP Paribas can offer to institutional investors and corporates globally.
This, together with the migration of Deutsche Bank’s Global Prime Finance and Electronic Equities business to BNP Paribas, will position the bank as a leading provider in Global Equities.
“The long-standing and effective partnership with Exane provided our clients with superior access to the equity capital markets. We look forward to further enhancing our equities franchise and most actively supporting our clients as we join forces in an ever more integrated manner,” said Yann Gérardin, Deputy Chief Operating Officer and Head of Corporate and Institutional Banking, BNP Paribas.
“We’ve worked closely with Exane for 17 years, supporting its development into a top-ranked Research and leading European equities business. This is a natural evolution following our successful partnership, working together to deliver even deeper relationships with our clients. We really look forward to further strengthening the relationship with Exane in equities and derivatives”, said Olivier Osty, Head of Global Markets, BNP Paribas.
“This is an exciting new phase. Our long-term partnership with BNP Paribas has enabled us to invest in great people and technology to build a top European equities franchise. Our teams look forward to working even more closely with our BNP Paribas colleagues across Prime Services, Global Electronic Trading, Equity Derivatives and Equity Capital Markets to better service clients across the globe,” said Nicolas Chanut, CEO of Exane.
Note:
* The contemplated transaction will be subject to relevant shareholders, regulatory and competition approvals, and is also subject to the review of relevant works councils.
BNP Paribas opens its private equity direct investment activity to its clients and announces an interim closing of BNP Paribas Agility Capital at € 525 M
BNP Paribas Principal Investments, the entity in charge of investments for the own account of BNP Paribas, has been investing directly in non-listed European mid-caps for more than 12 years.
For the first time, BNP Paribas Group offers its European institutional clients and family offices the opportunity to join this strategy via the BNP Paribas Agility Capital fund, in which the Group commits 50%.
Following the successful launch of this initiative in 2020, illustrated by an interim closing at already € 525 M, BNP Paribas Agility Capital aims to finalise its fundraising at more than € 600 M in 2021.
The investment strategy deployed by BNP Paribas Agility Capital is characterised by its great flexibility on instruments (minority equity, preferred equity, subordinated debt/mezzanine, etc.), types of transactions (including in the secondary market) and sectors, in close collaboration with the financial sponsors that are the majority shareholders of the companies concerned. This agile approach allows adapting to the economic context and financial structure of the companies supported (10 to 15 new investments a year in European mid-caps).
The Principal Investments team, on behalf of BNP Paribas, has been successfully deploying this investment strategy for over 12 years. It relies on an in-depth analysis and a rigorous selection of supported companies, and is now being pursued by the same team within the dedicated management company BNP Paribas Agility Capital, with the same objective of optimising the risk/return ratio and diversification.
“We are particularly grateful to our European institutional investors and family offices for their trust, which enabled us to raise € 525 M in the course of 2020, against a backdrop of an unprecedented health crisis. This higher than expected amount is testament to the relevance of the investment strategy deployed by our team.” said Christophe Lenouvel, Head of BNP Paribas Principal Investments and Chairman of BNP Paribas Agility Capital.
The fund raising continues in 2021 with a view to exceeding € 600 M.
BNP Paribas: Σταθερά τα καθαρά κέρδη στο γ΄ τρίμηνο
Σταθερά διατηρήθηκαν τα καθαρά κέρδη της BNP Paribas στο γ΄ τρίμηνο, καθώς τα έσοδα από τη διαπραγμάτευση τίτλων αντισταθμίζει την πτώση στα κέρδη από τη λιανική τραπεζική.
Η γαλλική τράπεζα ανακοίνωσε ότι τα καθαρά κέρδη του τριμήνου διαμορφώθηκαν στα 1,89 δισ. ευρώ, ελαφρώς χαμηλότερα από την αντίστοιχη περίοδο του 2019.
Τα προ φόρων κέρδη για τη μονάδα global markets αυξήθηκαν κατά 67% στα 648 εκατ. ευρώ.
Οι ευρωπαϊκές τράπεζες έχουν ανακοινώσει καλύτερα του αναμενόμενου αποτελέσματα για το γ΄ τρίμηνο, καθώς η πανδημία έπληξε την οικονομία. Δεν είναι ξεκάθαρο αν η πρόοδος μπορεί να συνεχιστεί, καθώς η Γαλλία, η Γερμανία και άλλες χώρες επιβάλλουν εκ νέου lockdown για τον περιορισμό των κρουσμάτων.
Η BNP Paribas δήλωσε πως οι προβλέψεις για επισφαλή δάνεια αυξήθηκαν κατά 47% στα 1,25 δισ. ευρώ στο γ΄ τρίμηνο έναντι της αντίστοιχης περιόδου του προηγουμένου έτους.
Οι προβλέψεις μειώθηκαν από το προηγούμενο τρίμηνο, στο οποίο εξοικονομήθηκαν 1,45 δισ. ευρώ.