BNP Paribas Q4 earnings come in stronger than expected

5th Feb 2026 08:37

(Sharecast News) - French banking group BNP Paribas posted stronger‑than‑expected fourth‑quarter earnings on Thursday as chief executive Jean‑Laurent Bonnafé pushed ahead with efforts to lift a share price that has long trailed European peers.

BNP delivered net profits of €2.97bn for the three months ended 31 December, ahead of the €2.86bn expected by analysts, with revenue coming in higher than forecast and credit provisions lower, though costs were slightly above estimates.

Alongside the beat, BNP Paribas raised its medium‑term ambitions, lifting its 2028 return‑on‑tangible‑equity target to above 13% as it unveiled a fresh €600m cost‑saving plan for 2026, focused on support functions, as it looks to improve efficiency and profitability.

BNP's CET1 ratio stood at 12.6% at year‑end, a touch below consensus expectations but still comfortably above regulatory requirements. In markets, fixed‑income trading outperformed forecasts in the quarter, while equities trading fell short of expectations.

"Building on our 2025 results and a structurally favorable interest-rate environment, we confirm our 2026 objectives and are raising our 2028 objectives," said Bonnafé.

As of 1045 GMT, BNP shares were up 3.63% at €94.23 each.

Reporting by Iain Gilbert at Sharecast.com