However, the growing importance of these new ventures must not overshadow the need for urgent action in the energy transition and the transformation of our economic models, where climate imperatives, competitiveness, and social acceptability must go hand in hand.
All of these changes call for massive investments, at a time when public funding is becoming ever more stretched. Europe, which has long relied solely on bank balance sheets, now subject to heightened capital requirements, must diversify its sources of financing. It can no longer delay the implementation of the Savings and Investments Union, as the abundance of its savings is one of its most significant assets. Channelling these funds into the development of European companies is essential to strengthening its sovereignty in key sectors such as technology, energy, infrastructure and defence.
In a context marked by new geopolitical uncertainties, 2026 will be a pivotal year in turning these strategic priorities into tangible results. The ongoing conflict in the Middle East could affect global economic growth, although it is still too early to properly assess its impact. In this challenging environment, banks continue to play their role to the fullest. Far from being mere financial intermediaries, they are proving that, now more than ever, they are trusted partners. In a fragmented world, they remain pillars of an essential common good: the stability and prosperity of economies. They are at the forefront of supporting growth and financing major transitions, while working alongside their clients. As a European leader in banking and financial services, BNP Paribas has the strength and expertise needed to build lasting relationships with its clients. To this end, the Group further consolidated its activities in 2025, notably through strategic acquisitions that will allow it to set the course for a new phase of growth, while continuing to create value for all its stakeholders.
WRITTEN ON 30 MARCH 2026.
