The 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.”