€11.7billion
in net income, Group share, in 2024.
J.-L.B.: Our solid results in 2024 place us in a favourable position to launch the 2025-2026 trajectory, which will create long-term value. We are fully committed to the last stage of our plan, setting ambitious targets that are well within our reach. We forecast average annual revenue growth of more than 5% for 2025 and 2026, with the cost of risk being kept below 40 basis points and net income up by more than 7% per year. Based on these solid fundamentals, we confirm our trajectory of return on tangible equity (ROTE). I stress this indicator, which I think is very important, because it reflects the Group’s level of profitability and the quality of its performance: it will reach 11.5% in 2025 and 12% in 2026.
To this end, we rely on various assets and growth drivers. CIB will continue to be a powerful growth driver, with a strong and diversified client franchise and the potential to continue to gain market share. As for CPBS, commercial & personal banking revenues will be driven by a more favourable interest rate environment. This will be particularly beneficial to our division given the launch, by Commercial & Personal Banking in France (CPBF) and BNP Paribas Personal Finance, of a strategic roadmap aimed at increasing their profitability. For its part, IPS will build on the organic growth momentum of the insurance, asset management and private banking business lines while benefiting from the acceleration effect driven by our external growth transactions. This is the case in life insurance, through the acquisition of Neuflize Vie and the partnership with Neuflize OBC. In Private Banking, the planned acquisition of HSBC’s activities in Germany is an accelerator of our goal to build a powerful private banking platform in Europe. Lastly, the planned acquisition of AXA Investment Managers, coupled with a long-term asset management partnership, marks a major turning point in our strategy to become a European leader in long-term savings management.
J.-L.B.: We do not see technology as an end in itself, but as a means to create more value. We continue to invest in payments to equip ourselves with the best technologies and guarantee the highest standards for our clients. We signed a strategic partnership with Groupe BPCE to create Estreem, the new French leader in payment processing, which will process all card payments in Europe for BNP Paribas and Groupe BPCE, representing 17 billion transactions per year.
“We do not see technology as an end in itself, but as a means to create more value.”
Moreover, the integration of artificial intelligence (AI) into our systems should enable us to generate €750 million in value creation by 2026. To do so, we are investing in cutting-edge partnerships, such as the one signed with Mistral AI in the field of generative AI, in the context of which we are developing use cases in various business lines.
We also continue to invest in the modernisation of our IT infrastructures, particularly in the cloud. Our partnership with Oracle will allow us to centralise our databases it operates on a single secure platform to benefit from the automation advantages this solution offers, while reinforcing the security and confidentiality of our clients’ data. This approach is vital both for the robustness of our model and for the protection of our Group, and of our clients, against cyber risks.
