Core Viewpoint - BNP Paribas has received a notification from the European Central Bank regarding the 2025 Supervisory Review and Evaluation Process (SREP), indicating a decrease in the Pillar 2 Requirement (P2R) compared to 2024 SREP [2][3]. Capital Requirements - The P2R for BNP Paribas as of January 1, 2026, is set at 1.73%, which is a reduction of 11 basis points from the 2024 SREP, with 1.05% required in Common Equity Tier 1 (CET1), down 9 basis points from 2024 SREP [3]. - The CET1 requirement as of January 1, 2026, is 10.44%, which includes 1.50% for the G-SIB buffer, 2.50% for the Conservation buffer, 1.05% for the P2R, 0.75% for the countercyclical buffer, and 0.14% for the systemic buffer [4]. Regulatory Compliance - As of September 30, 2025, BNP Paribas is significantly above the regulatory requirements, with CET1 at 10.51%, Tier 1 at 12.31%, Total Capital at 14.71%, and a leverage ratio of 3.85% [5]. - The Tier 1 Capital ratio requirement is 12.23%, with 1.34% attributed to the P2R, while the Total Capital ratio requirement is 14.62%, with 1.73% for the P2R [7]. Stress Test Results - The results from the 2025 stress test conducted by the EBA and ECB have positioned BNP Paribas in the first bucket of the ECB's Pillar 2 Guidance (P2G), with a range of 0 to 100 basis points, lower than the previous range of 50 to 200 basis points [5]. Company Overview - BNP Paribas is a leader in banking and financial services in Europe, operating in 64 countries with nearly 178,000 employees, including over 144,000 in Europe [6]. - The Group has key positions in three main fields: Commercial, Personal Banking & Services, Investment & Protection Services, and Corporate & Institutional Banking, providing a wide range of financial solutions [6].

RELEASE OF THE 3rd AMENDMENT TO THE ENGLISH VERSION OF THE UNIVERSAL REGISTRATION DOCUMENT AND ANNUAL FINANCIAL REPORT 2024 PRESS RELEASE Paris, 28 October 2025 BNP Paribas announces the publication of the 3rd amendment to the English version of the Universal registration document and Annual financial report 2024. This amendment was filed with the Autorité des Marchés Financiers (AMF) on 28 October 2025 and is listed under n° D.25-0122-A03. The document is available on BNP Paribas website at the following a ...

RELEASE OF THE 3rd AMENDMENT TO THE ENGLISH VERSION OF THE UNIVERSAL REGISTRATION DOCUMENT AND ANNUAL FINANCIAL REPORT 2024 PRESS RELEASE Paris, 28 October 2025 BNP Paribas announces the publication of the 3rd amendment to the English version of the Universal registration document and Annual financial report 2024. This amendment was filed with the Autorité des Marchés Financiers (AMF) on 28 October 2025 and is listed under n° D.25-0122-A03. The document is available on BNP Paribas website at the following a ...

Core Viewpoint - BNP Paribas is considering an asset management partnership with UniCredit, contingent upon UniCredit terminating its distribution agreement with Amundi by mid-2027 [1] Group 1 - BNP Paribas's Chief Executive Jean-Laure describes the potential partnership as a strategic opportunity for both companies [1] - The timeline for the partnership is linked to UniCredit's decision regarding its current agreement with Amundi, which is set to expire in mid-2027 [1]

Group 1: Market Overview - French stocks are showing mixed performance with the CAC 40 index down 7.75 points or 0.09% at 8,231.43 [1] - Investors are reacting to quarterly earnings announcements and are awaiting key meetings between U.S. and Chinese leaders, as well as monetary policy decisions from major central banks [1] Group 2: BNP Paribas Performance - BNP Paribas reported a 6.1% increase in third-quarter net income at 3.044 billion euros, but the results fell short of expectations, leading to a 2.7% decline in its stock [2] - The bank's quarterly net banking income (NBI) reached 12.569 billion euros, reflecting a year-over-year increase of 5.3% [2] Group 3: Strategic Outlook of BNP Paribas - BNP Paribas reaffirmed its strategic trajectory through 2026, aiming for a compound average growth rate of over 5% in revenues, more than 7% in net income, and above 8% in earnings per share from 2024 to 2026 [3] Group 4: Other Company Performances - Vinci, Dassault Systemes, Danone, Bouygues, Saint Gobain, Orange, and Eurofins Scientific experienced declines ranging from 1% to 1.7% [4] - Capgemini saw a rise of more than 5% after raising its full-year revenue guidance following a strong third-quarter revenue report [4] - Edenred gained 4.8%, while STMicroElectronics, Air Liquide, Renault, Stellantis, and Publicis Groupe advanced between 1% to 2% [4]

Core Insights - The largest bank in the eurozone by assets reported a net profit that is 6.1% higher than the previous year [1] Company Summary - The bank's net profit reflects a positive growth trend compared to the same period last year, indicating strong financial performance [1]

Core Viewpoint - BNP Paribas reported third-quarter earnings that fell short of forecasts, primarily due to integration costs related to AXA Investment Managers and an increase in cash reserves needed for bad loans, including an unspecified "credit situation" in its global markets division [1] Group 1 - BNP Paribas' third-quarter earnings did not meet market expectations [1] - The company highlighted significant costs associated with the integration of AXA Investment Managers [1] - There was a notable increase in cash required for bad loans, which includes a specific "credit situation" within its global markets arm [1]

Core Viewpoint - The jury verdict against BNP Paribas regarding banking services provided to Sudanese entities is deemed fundamentally flawed and should be overturned [2][3][8] Legal Context - The trial involved banking services from over 15 years ago that complied with European and Swiss laws, which allowed banking activities with Sudanese entities not involving military equipment [2][3] - The trial court had previously determined that Swiss law governed the plaintiffs' claims, but the verdict misapplied Swiss law, as confirmed by the Swiss Government and other legal authorities [3][4] Evidence and Defense - BNP Paribas asserts that the banking services provided did not cause any prejudice to the plaintiffs, and no evidence has been presented to establish a connection [4][5] - The bank was not permitted to present extensive evidence relevant to its defense, including compliance with European and Swiss laws [5] Ethical Concerns - Allegations of serious ethical misconduct among plaintiffs' counsels have emerged, suggesting that witness testimony may have been improperly influenced, raising concerns about the integrity of the trial [6] Damages and Liability - The jury's award of damages was specific to three individual plaintiffs, and the trial court will continue to address claims from other plaintiffs individually [7] - Any assertion that liability or damages have been established for a broader class is considered incorrect [7] Future Actions - BNP Paribas is confident in its legal arguments and intends to appeal the verdict, seeking to have it overturned [8]

Group 1 - The document pertains to a letter from BNP Paribas counsels regarding ongoing litigation in Sudan [1][2]

Core Viewpoint - BNP Paribas is facing limited exposure to Sudan-related litigation, but uncertainty remains, leading to a decline in its share price [1][2]. Group 1: Legal Proceedings and Financial Impact - A U.S. jury found BNP Paribas liable for aiding Sudan's government in committing genocide, resulting in a court order for the bank to pay $20.5 million to three plaintiffs [2]. - The bank's shares fell by 1.6% on Tuesday, continuing a downward trend as investors reacted to the implications of the court ruling [2]. - The Chief Financial Officer stated that no provisions for Sudan-related litigation will be made in the upcoming third-quarter results, as the bank expects the verdict to be overturned on appeal [3]. Group 2: Legal Framework and Analyst Opinions - The CFO indicated that Swiss law applies to this case, which may limit the bank's liability, as confirmed by the Swiss government [4]. - Analysts express ongoing doubts about the situation, noting that while the bank perceives the risk of broader claims as low, uncertainty will likely affect the share price until clarity emerges from the appeal process [5]. - The CFO characterized the case as a private legal dispute rather than a regulatory or criminal matter, emphasizing that the verdict pertains only to the three plaintiffs and does not set a precedent for future claims [6]. Group 3: Future Considerations - The CFO acknowledged the unpredictability of how many additional plaintiffs might come forward and the duration of the appeal process, which could take between a couple of months to a year [7].