(AFP/ANGELA WEISS)
The BNP Paribas bank announced on Wednesday an acceleration of its savings measures and confirms its forecasts for an increase in its distributable profit, which will be higher in 2024 than in 2023.
BNP Paribas announces “an acceleration and expansion of operational efficiency measures” by 400 million euros, “thus bringing the objective of the 2022-2025 plan to 2.7 billion euros” in savings in a press release.
Furthermore, the bank confirms “the steady growth trajectory of its net profit share of the group (RNPG)”. Thus, “the year 2024 will be at a higher level than the distributable net income published in 2023,” she adds.
This trajectory, “associated with a distribution rate of 60%”, should allow “a return to shareholders of around 20 billion euros cumulatively over the three years 2024, 2025 and 2026”, assures She.
BNP Paribas published a record 2023 net profit in February, at 10.975 billion euros, boosted by the rise in interest rates, the dynamism of its financing and investment businesses and the sale of its American subsidiary Bank of the West.