However, this strong revenue growth was slightly offset by a poor real estate market.
After allocating one third of Private Banking’s net income to Wealth Management (IPS division), Consumer, Personal Banking & Services (CPBS) achieved pre-tax income of €2,283m, down slightly by 0.4% compared to Q2 2022.
BNP Paribas in H1 2023
For H1 2023, BNP Paribas revenues, at €23,395m ($25,742m), were considered stable compared with H1 2022 (€23,404m), according to the bank.
In the operating divisions for H1 2023, revenues rose by 2.6% year-on-year. They also rose by 1.1% at corporate and institutional banking (CIB), attributed to the strong increase in revenues of 15.3% at global banking and a rise of 3.1% in securities.
Overall, the group did fairly well as revenues rose by 3.3% year-on-year in Q2 2023.
In addition, net income rose 16.4% in the same timeframe.
Chief executive officer Jean-Laurent Bonnafé stated: “BNP Paribas achieved a very good performance in the second quarter, reflecting the solidity of our diversified model, the efficiency of our platforms, and the Group’s capacity to pursue its development, in order to address the needs of its individual, corporate and institutional clients in all phases of the economic cycle.
“With its ‘Growth, Technology and Sustainability 2025’ strategic plan, the Group continues to develop leading platforms at the service of the European economy, to pursue its technological progress, and to support its clients in their transition towards a more sustainable model.
“Accordingly, the second quarter was highlighted by a further strengthening of our commitments to the energy transition, which allows us to contribute ever more actively to the transitions of our economies and of our clients. Alongside all our teams, whom I would like to thank for their commitment, we remain focused on our trajectory in continuing to serve our clients and to support the development of their projects over the long term.”