At the time the net result is established at 7

Once is not custom, BNP Paribas has failed consensus forecasts for its 2010 annual results. Unexpected depreciation of EUR 534 million related to its participation in AXA partly explains this gap (read below).

At the time, the net result is established at 7.8 billion EUR 8.1 billion euros expected by the Bloomberg consensus. But with the fall of the cost of the risk in almost all activities, the Bank recorded the largest net profit in its history, slightly higher than its record year, précrise, 2007.

This result will enable him to set aside more than 5 billion euros and to try once again to assure the market on its financial soundness. While lurks reforming prudential Basel III, Baudouin Prot, administrator-Director-General, did not fail to recall that in three years capital doubled, to 68 billion euros, including through the acquisition of Fortis. The ratio of own funds (Tier-1) settled in late 2010 to 11.4, 9.2 for the ratio of "hard". The new rules will impose 7 in 2019 for the latter.

On profitability, the Bank also wanted to be exemplary. 12.3 Performance of equity (RoE), the leader considers his group to "a good level for the banking sector." It remains in the middle of the industrial enterprises or services of the CAC 40 which lies a little less than 12. "Affirming the goal of an average of cycle between 12 and 15, it recognizes that"the time when banks were very atypical returns looks gone. " The Bank reiterated focus on organic growth, while it is said regularly candidate to new acquisitions.

BNP Paribas also announced the distribution of a dividend of 2.10 euros, fully in cash, a rare fact in recent years. It also confirmed the change in dimension started in May 2009 with the acquisition of Fortis Bank. "A third of the increase in the results is within the new group," said Baudouin Prot. The number of employees rose from 160,000 in 2007 to 205.000 in 2010. The Bank has identified third party synergies for integration, at EUR 1.2 billion, through economies of scale in the management of assets and the Bank financing and investment (BFI).

But it is mainly on the Turkey that the Bank founded many hopes. In this country, where only 39 of the population is bancarisée, 148 in Western Europe, planned between BER and Fortis Bank Turkey merger was completed on 14 February. She created the ninth Bank in the country with 600 agencies and a market share of 5. Its overall contribution to revenues from retail banking amounted to 614 million euros in 2010 for a result pre-tax profits of 97 million. In its new industrial plan for 3 years, the subsidiary is however intended as organic growth.

The international retail banking activity confirms the stabilization, or even sometimes downward, the cost of the risk, in Italy (BNL), Ukraine or in the United States (BancWest). She however began in Europe Mediterranean end of the year. The Bank was an allowance of EUR 25 million on its portfolio of activities in Tunisia and in Côte d'Ivoire where agencies come to be closed because of political turmoil. Financial risks are still marginal, the amount outstanding on the Maghreb representing less than 1 of the assets.