Bnp Paribas S.a. Class A · EURONEXT:BNP
Bnp Paribas S.a. Class A — Q3 2026 Earnings Presentation
32 slides from Bnp Paribas S.a. Class A's earnings presentation, Oct 28, 2026
Slide 1: Debt Investors Presentation Third Quarter 2026
DEBT INVESTORS PRESENTATION THIRD QUARTER 2026 28 OCTOBER 2026 Debt Investors Presentation – 30.09.2026 | 1
Slide 2: Disclaimer
DISCLAIMER The figures included in this presentation are unaudited. As a reminder, on 16 March 2026, BNP Paribas published quarterly series for 2025, restated to reflect, among other things, the reorganization of Global Capital Markets within CIB, the evolution of the sharing agreement between Wealt
Slide 3: Section 1: Key points
SECTION 1 Key points Debt Investors Presentation – 30.09.2026 | 3
Slide 4: 3Q26 Results: Very good quarter, strong commercial and operating momentum
3Q26 RESULTS | Very good quarter, underpinned by strong commercial and operating momentum 3Q26 (€m)* 3Q25 restated1 (€m) Strong revenue growth ⎯ Revenues +9.5% 13,757 12,569 • CIB (+16.6%): excellent quarter • CPBS (+3.6%): particularly strong momentum in CPBE up +9.5% • IPS (+5.3%): solid performan
Slide 5: Trajectory: C/I ratio improving, support functions stepping up contribution
TRAJECTORY | C/I ratio improving, with support functions stepping up their contribution from 2027 ⎯ 2027 Net Cost Savings (NCS) supported by concrete action ⎯ Support functions transformation: Net Cost Savings expected plans, with a clear roadmap towards 2030 priorities Anticipated % 2027 NCS % 2030
Slide 6: Trajectory: We raise our 2026 targets and confirm 2028 targets
TRAJECTORY | We raise our 2026 targets and confirm our 2028 targets 9M26 2026e 2028e 2030e ⎯ We target >+10% earnings and double-digit EPS growth CAGR 25-28 ROTE 13.2% 12% >13% 30.09.26 Net income, Group share CAGR >+10% Cost/Income 59.0% ~60% <56% ratio CAGR >+7% Net income +19.1%* > +7% > +10% 11,
Slide 7: Trajectory: Earnings, capital & shareholder return
CET1 ratio end 2026 TRAJECTORY | Earnings, capital & shareholder return: a compelling story >13% ⎯ A strategy building resilience, low earnings volatility ⎯ Building capital while increasing payout ratio and accelerating our earnings profile 65% 14.0% Net income, Group share 12.9% 12.8% 12.8% 60% 13
Slide 8: Section 2: Strong solvency & funding
SECTION 2 Strong solvency & funding Debt Investors Presentation – 30.09.2026 | 8
Slide 9: A business model well diversified by country and business
A BUSINESS MODEL WELL DIVERSIFIED BY COUNTRY AND BUSINESS No country, business or industry concentration ⎯ Gross Commitments1 by region as at 31.12.25 ⎯ Breakdown of RWA2 by business based on €803bn >90% in wealthy markets as at 30.09.2026 Corporate Centre : 3% Personal Finance : 11% IPS : 8% Arval
Slide 10: Capital: CET1 ratio at 12.9% as of 30.09.26
CET1 ratio at 12.9% as of 30.09.26 CAPITAL | LCR 139% Leverage 4.4% expected above 13% by year-end 2026 30.09.26 30.09.26 ⎯ Evolution of the CET1 ratio* between 30.06.2026 and 30.09.2026 ⎯ Our resilient model combines growth in our Net +40 bps Tangible Book Value per share (TBV) across cycles… 13.1%
Slide 11: Liquidity: A diversified base of deposits and prudent management
LIQUIDITY | A diversified base of deposits and disciplined, prudent and proactive management ⎯ Breakdown of deposits by geography as of 30.09.26 ⎯ Base of deposits supported by the Group’s diversification, its long- Asia Pacific term approach to clients, and its leading positions in flows • Deposits
Slide 12: Asset Quality: Cost of risk contained in a volatile environment
ASSET QUALITY | Cost of risk contained in a volatile environment 2026e Cost of Risk ⎯ Cost of risk in line with our 2026 guidance <40bps ⎯ Our cost of risk tends to evolve in a low <40 bps and narrow range across the cycle 300 Cost of Risk/Customer loans outstanding (bps) 250 Cost of risk / 39 bps S
Slide 13: Asset Quality: Long-standing track record of strong risk management
ASSET QUALITY | A long-standing track record of strong risk management ⎯ Prudent risk management across the cycle ⎯ Cost of risk remains well managed, underpinned by the diversification and quality of our credit portfolio Cost of risk/ GOI (%) and bps of loans Wholesale Transport & Trade Storage Non
Slide 14: Asset Quality: Cost of risk remains low across all business lines
COST OF ASSET RISK | | Cost of risk remains low across all business lines QUALITY Cost of risk / customer loans outstanding at the beginning of the period (in bps), including 100% of Private Banking within Commercial & Personal Banking ⎯ CPBF (France) • €140m ⎯ CPBB (Belgium) • €43m (+€55m vs. 3Q25)
Slide 15: CIB: Market risks – 3Q26
CIB | Market risks – 3Q26 ⎯ Average 99% 1-day interval VaR (Value at Risk) (€m) Commodities Forex Equities Interest Rates Credit Nettings 54 55 43 43 43 46 45 42 5 10 35 35 33 36 37 35 15 5 9 36 34 12 33 31 32 33 34 34 33 33 34 33 34 34 31 34 32 3 29 28 31 6 6 6 28 31 31 31 33 28 30 31 32 25 27 27 2
Slide 16: Prudential Total Capital: ~310bps above the requirement
~310bps above the requirement based on risk-weighted assets1 as of PRUDENTIAL TOTAL CAPITAL | 30 September 2026 ⎯ Prudential Total Capital as at 30.09.26 ⎯ Total capital requirements as at 30.09.26: 17.7% • 14.62% 2.2% €17.3bn 2.2% ⎯ BNP Paribas Total Capital level as at 30.09.26: 2.7% 2.1% €21.5bn
Slide 17: TLAC and MREL ratios
TLAC AND MREL RATIOS ⎯ TLAC ratios1 as at 30.09.26 ⎯ MREL ratios as at 30.09.26 In % of RWA In % of RWA 27.2%2 30.6%2 27.21% 3.3% 0.09% 22.89% 0.09% 1.50% 0.80% 9.5% 9.25% 1.50% 9.25% 1.50% 0.80% 2.50% 1.50% 9.5% 2.50% 2.50% 2.50% In % of Leverage In % of Leverage exposures exposures 22.32% 18.00% 1
Slide 18: MDA: Distance to MDA restrictions as at 30.09.26
MDA | Distance to MDA restrictions as at 30.09.26 ⎯ Capital and leverage requirements as at 30.09.26 ⎯ Capital requirements as at 30.09.26: 14.62% 0.80% 0.09% • CET1: 10.45% Pillar 1 1.50% P2R • Tier 1: 12.24% 12.24% 0.09% Capital conservation buffer 0.80% • Total Capital: 14.62% 10.45% 2.50% GSIB b
Slide 19: Medium/Long-Term Regulatory Funding
MEDIUM/LONG-TERM REGULATORY FUNDING ~126% of the €14bn 2026 regulatory issuance plan1 realised as of October 16th, 2026 Funding plan €17.6bn €14.0bn = (2-3) Capital instrument €4.1bn €4.0bn + (4) Senior debt €13.5bn €10.0bn Main recent issuances - Capital instruments Main recent issuances - Senior d
Slide 20: Funding: Medium/Long Term Funding Outstanding
FUNDING | Medium/Long Term Funding Outstanding ⎯ Wholesale MLT funding outstanding1 breakdown ⎯ Wholesale MLT funding split by currency3 (%) Senior Secured debt: 13 2% 3% 5% EUR Tier 12 Hybrid: 22 3% 3% USD GBP €173bn Unsecured non preferred 46% Subordinated debt: 25 AUD senior debt: 77 CNH 38% CHF
Slide 21: Long-Term Debt Ratings
LONG-TERM DEBT RATINGS* S&P Moody’s Fitch Ratings Senior Preferred A+ A1 AA- Senior Non-Preferred A- Baa1 A+ Tier 2 BBB+ Baa2 A- Additional Tier 1 BBB- Ba1 BBB Outlook Stable Stable Stable *Date of the most recent review committee (31 August 2026). Ratings are subject to change at any time. Debt Inv
Slide 22: Section 3: 3Q26 results, Operating divisions
SECTION 3 3Q26 results Operating divisions Debt Investors Presentation – 30.09.2026 | 22
Slide 23: Equity Story: Unlocking the full potential of our leading client franchises
EQUITY Unlocking the full potential of our leading client franchises to accelerate profitable growth STORY | 9M26 % Group % Group C/I RoNE ⎯ CIB revenues RWA (pretax, %) • Building a leading global client franchise Global Banking on our unique CIB platform given significant Global Markets 34% 54.5%
Slide 24: CIB: Another very strong quarter confirming leading global client franchise
CIB | Another very strong quarter confirming our leading global client franchise €m 3Q26 3Q25 Var • Global Banking – NBI: €1,615m (+8.4%) Revenues (NBI) 5,201 4,460 +16.6% • Global Markets – NBI: €2,674m (+21.9%) Operating expenses -2,841 -2,603 +9.2% Gross Operating Income 2,360 1,857 +27.1% FICC:
Slide 25: CIB: Save-The-Date – CIB Deep Dive – February 2027
CIB | Save-The-Date – CIB Deep Dive – 25 February 2027 – London ⎯ We have built a scaled and diversified CIB business Revenue breakdown Securities Services FICC APAC 17% 27% 20% EMEA Corporates 52% Transaction 43% Banking & other 13% Institutionals AMER Equity & 57% 28% Prime Global Capital Services
Slide 26: CPBS: Strong increase in commercial banks pre-tax income
CPBS | Strong increase in commercial banks pre-tax income* underpinned by sustained revenue growth €m 3Q26 3Q25 Var • Commercial & Personal Banking – NBI: €4,695m (+9.2%) Revenues 6,863 6,622 +3.6% Operating Expenses and Dep. -4,005 -3,853 +4.0% • CPBE (Eurozone) – NBI: €3,688m (+9.5%) Gross operati
Slide 27: CPBS: Current rate environment supports revenue trajectory
CPBS | The current rate environment continues to support our revenue trajectory ⎯ Strong growth 3Q26/3Q25: +7.6% CPBS perimeter sensitive to euro zone rate assumption Change in revenues (Q/Q-4 in %) at Commercial & Personal Banking1 in the Eurozone (CPBE) and Personal Finance ~70% of CPBS RWA ; ~40%
Slide 28: IPS: Strong growth in assets under management
IPS | Strong growth in assets under management fueling revenue and profitability in 3Q26 €m 3Q26 3Q25 Var • Insurance – NBI: €646m (+5.0%) Revenues 1,993 1,894 +5.3% Operating Expenses and Dep. -1,183 -1,151 +2.8% • Asset Management – NBI: €704m (+4.1%) Gross operating profit 811 743 +9.1% • Wealth
Slide 29: IPS: Scaling up global AuM to €2,549bn
IPS | Scaling up global AuM to €2,549bn as of 30.09.2026 ⎯ AuM: €2,549bn as of 30.09.26 (+4.3% vs. 31.12.25; +6.6% vs. 30.09.25, including the -€39bn impact of the sale of a South Korean participation), net inflows in line with the Deep Dive trajectory +€106.2bn +28.0 -9.1 2,549 +37.9 +49.4 2,443 €b
Slide 30: Glossary
GLOSSARY AuM Assets under Management End-of-period Liquidity Coverage Ratio calculated in LCR accordance with Regulation (CRR) 575/2013, art. 451b AuC Assets under Custody Leverage calculated in accordance with Regulation (EU) Leverage AIM Alternative Investment Managers 575/2013 - Art. 429 AWM Asse
Slide 31: Endnotes
ENDNOTES • Slide 4 • Slide 23 1. On 16th March 2026, we published on our website a restatement of the 1. Official Dealogic Reports, 9M26, Global Capital Markets, Global ECM, 2025 quarterly series under the 2026 reporting format. Global Loans, EMEA ECM, EMEA IB, EMEA DCM, EMEA Loans 2. In accordance
Slide 32: Contacts and Upcoming Events
CONTACTS AND UPCOMING EVENTS ⎯ Investor Relations ⎯ Upcoming events Bénédicte Thibord, Head of Investor Relations and Financial Quarterly results Information 4Q26 earnings & 2030 plan: 2 February 2027 Equity Meriem Afilal-Costard 1Q27: 29 April 2027 Raphaëlle Bouvier-Flory 2Q27: 23 July 2027 L