BNP delivered mixed results in Q4 21, beating consensus regarding its net result and pre-tax income thanks to lower LLPs allowed by some provision releases. Yet, revenues were slightly disappointing with a negative surprise in CIB due to faltering FICC trading while costs rose far above expectations, resulting in a worsening cost/income ratio. Despite these snags, management unveiled its 2025 strategic plan with ambitious growth and profitability targets.
08 Feb 2022
Disappointing CIB and costs
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Disappointing CIB and costs
- Published:
08 Feb 2022 -
Author:
Farhad Moshiri | Sylvain Perret -
Pages:
4
BNP delivered mixed results in Q4 21, beating consensus regarding its net result and pre-tax income thanks to lower LLPs allowed by some provision releases. Yet, revenues were slightly disappointing with a negative surprise in CIB due to faltering FICC trading while costs rose far above expectations, resulting in a worsening cost/income ratio. Despite these snags, management unveiled its 2025 strategic plan with ambitious growth and profitability targets.