BNP Paribas Reports Good Full-Year Results; New Strategic Plan Focuses on Cost Savings and Digital
BNP Paribas reported good full-year results, as the company navigates through a difficult interest rate environment. We plan to maintain our EUR 61/$34 fair value estimate and narrow moat rating. Net income increased 15% to EUR 7.7 billion, while BNP decreased its cost of risk by 46 basis points. Pretax income was up on a segment level, except for corporate and institutional banking, as it undergoes further transformation and cost-saving initiatives. French and Italian retail banking saw net int...BNP Paribas is engaged in the provision of banking and financial services. Co.'s business activities are divided into two segments: Retail Banking & Services and Corporate and Investment Banking. The Retail Banking and Services business includes domestic markets and international financial services. The Corporate and Institutional Banking comprises of corporate banking, global markets, and securities services. Other activities include principal investments, which related to Co.'s central treasury function, some costs related to crossbusiness projects, the residential mortgage lending business of personal finance, and certain investments.
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