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New digital businesses of BNP Paribas have performed well

New digital businesses of BNP Paribas have performed wellThe Board of Directors of BNP Paribas has examined the Group’s results for the first quarter of 2023. The Group’s pre-tax income amounted to 2,377 million euros.

New digital businesses and personal investors of BNP Paribas performed very well. ‘Nickel’ pursued its ongoing roll-out in Europe and its continued strong pace of account openings, with about 3.2 million accounts opened1 as of 31 March 2023, indicating a y/y increase of 25.9%. Floa, the French leader in Buy Now, Pay Later, had 3.8 million customers (y/y +10.8%).

As a reminder, Floa’s contribution has been 50% consolidated since 1 February 2022. Revenues in new digital businesses and personal investors came to 243 million euros, a strong y/y increase of 18.5%, in relation to the steep increase in new digital businesses, driven by business development and the positive impact of the interest-rate environment on personal investors’ deposits. At 164 million euros, operating expenses increased strongly y/y by 24.1%, in relation to the development strategy of the new digital businesses. Pre-tax income of new digital businesses and personal investors taken together decreased by 7% compared to the first quarter 2022, to 54 million euros.

Chief Executive Officer Jean-Laurent Bonnafé stated: “On the strength of its model, diversified in terms of business lines, geographical regions and client franchises, BNP Paribas achieved a very good performance in the first quarter 2023, reflecting the efficiency of its leading platforms, which give it a unique capacity to serve the economy.”

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