BNP Paribas SA (BNPQF) Q3 2023 Earnings Call Transcript


BNP Paribas SA (OTCQX:BNPQF) Q3 2023 Earnings Conference Call October 26, 2023 7:00 AM ET

Company Participants

Lars Machenil – Group CFO

Conference Call Participants

Stefan Stalmann – Autonomous

Anke Reingen – RBC Capital Markets

Jacques-Henri Gaulard – Kepler Cheuvreux

Giulia Miotto – Morgan Stanley

Matthew Clark – Mediobanca

Tarik El Mejjad – Bank of America

Delphine Lee – JPMorgan

Chris Hallam – Goldman Sachs Group

Pierre Chedeville – CIC Market Solutions

Kiri Vijayarajah – HSBC

Azzurra Guelfi – Citi

Operator

Good afternoon, ladies and gentlemen, and welcome to the presentation of BNP Paribas Third Quarter 2023 Results. For your information, this conference call is being recorded. Supporting slides are available on BNP Paribas IR website, invest.bnpparibas.com. [Operator Instructions]

Now I would like to hand over the call to Mr. Lars Machenil, Group Chief Financial Officer. Please go ahead, sir.

Lars Machenil

Thank you, operator. Hello, everyone. I trust you’re all doing well and welcome to BNP Paribas third quarter results presentation. As usual, at the end of the presentation, I’ll be pleased to take your questions. So if we look at the results driven by the strength of its unique model and positioning, the group’s performance is solid, as reflected in its distributable results. They illustrate the intrinsic performance of the group “the new BNP Paribas” after the sale of Bank of the West and after the end of the Single Resolution Fund ramp up.

It is also the base for dividend and as such, allows straightforward assessment of our performance when it comes to return to shareholders. If we take the first nine months, it sounds like a birthday, right. The distributable earnings per share is up 15 15% compared to last year, further boosted by the share buyback that we’ve been organizing this year. So let’s focus in more detail on the distributable profit and



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