2025 Integrated Report

What are the next steps for 2026 and beyond?

R.D.: We remain committed to our goal of becoming a leading European player in responsible protection, savings and investment. To achieve this, we are continuing to expand our range of products and services and to strengthen our distribution networks. We aim to capture a growing share of the financial savings market and accelerate our growth in private assets. We are investing in the ongoing technological transformation of our products, distribution models and advisory tools, by testing blockchain technology and harnessing the potential of generative AI and large language models (LLMs)⁽¹⁾ and doing so with enthusiasm, discernment and discipline. At the same time, we continue to focus on climate-related challenges. Our unified and enhanced asset management platform gives us the critical mass needed to be a key player in the ongoing environmental transition.

How will these changes allow you to better serve your clients, by capitalising on the Group’s integrated model?

R.D.: The Investment & Protection Services division already brings together a powerful combination of highly specialised and complementary businesses, enabling us to fully meet our clients’ diverse needs. The recent acquisition of AXA IM has strengthened the Group’s entire value chain and our shared “Originate & Distribute” strategy, from identifying financing opportunities (“Originate”) to distributing products to investors (“Distribute”), thereby further enhancing our integrated model.

I would also highlight that the IPS teams, by their very nature, work closely with the Group’s other two divisions:

• alongside Commercial, Personal Banking & Services, anticipating clients’ savings and investment needs and accelerating the Group’s development, notably in terms of product offerings, technology, the efficiency of customer journeys and the quality of advice;
• alongside Corporate & Institutional Banking, co-developing the optimal investment solutions for institutional clients, large corporate clients and high-net-worth families, and offering them a comprehensive range of financial products through a single point of contact.

Strengthened in this way, the BNP Paribas Group’s diversified and integrated model acts as a powerful catalyst for growth, both for our division and for all its businesses.