BNP Paribas SA (OTCQX:BNPQF) Q4 2024 Earnings Conference Call February 4, 2025 8:00 AM ET
Company Participants
Jean-Laurent Bonnafe – Chief Executive Officer
Lars Machenil – Chief Financial Officer
Conference Call Participants
Tariq El Mejjad – Bank of America
Delphine Lee – JPMorgan
Joseph Dickerson – Jefferies
Matthew Clark – Mediobanca
Kirishanthan Vijayarajah – HSBC
Flora Bocahut – Barclays
Anke Reingen – RBC
Chris Hallam – Goldman Sachs
Stefan Stalmann – Autonomous Research
Giulia Aurora Miotto – Morgan Stanley
Thomas Hallett – KBW
Pierre Chedeville – CIC
Sharath Kumar – Deutsche Bank
Operator
Good afternoon, ladies and gentlemen, and welcome to the presentation of the BNP Paribas Fourth Quarter 2024 Results with Jean-Laurent Bonnafe, Group Chief Executive Officer; and Lars Machenil, Group Chief Financial Officer.
For your information, this conference call is being recorded. Supporting slides are available on BNP Paribas IR website. [Operator Instructions]
I would like now to hand the call over to Jean-Laurent Bonnafe, Group Chief Executive Officer. Please go ahead, sir.
Jean-Laurent Bonnafe
Thank you. So, good afternoon, ladies and gentlemen. I am pleased to present to you today a summary of our strong fourth quarter results. We will also be providing detail on our trajectory of profitability and capital return for ’25 and ’26. We will be relatively short on divisional details as you have most of them in our documents.
So on slide four, on fourth quarter ’24 net profit is up a strong 16% year-on-year to €2.3 billion. Earning growth was supported by an elevated 10.8% revenue growth year-on-year, a very high 6.5 points jaws effect and continued low cost of risk. Our CET1 is up 20 bps quarter-on-quarter to 12.9%, thanks to retained earnings and securitization operations.
During the quarter, CIB posted an impressive 20.1% revenue growth with double-digit increases in all businesses. Global markets
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