BNP Paribas registers 11.8% rise in Global Markets revenues in Q4 2020
BNP Paribas SA (EPA:BNP) today posted its financial report for the final quarter and full year of 2020. The Global Markets segment delivered robust results, as in the preceding quarter.
In the fourth quarter of 2020, Global Markets revenues, at 1,498 million euros, were up by 11.8% compared to the fourth quarter 2019. FICC revenues, at 1,002 million euros (+22.1%), were up strongly in all businesses driven by client volumes and market share gains. Equity and Prime Services revenues were down at 497 million euros (-4.5% compared to the fourth quarter 2019).
For the full year of 2020, Global Markets revenues amounted to 6,819 million euros, up sharply by 22.4% compared to 2019, driven by very sustained client activity. The year was marked by strong growth at FICC in all businesses and regions to meet customer needs. Equity and Prime Services suffered from the impact of exceptional shocks in the first quarter of 2020 with a return to normal in the second half. VaR (1 day, 99%), which measures the level of market risks, came to 45 million euros on average. It decreased in the second half after its late-March peak but remained above its 2019 low point.
Global Markets activity was very sustained. On the primary market, the business achieved a good level of bond issuance in 2020 (+23% compared to 2019) and ranked no.1 for bonds in euros. The business continued to implement the agreement with Deutsche Bank in line with the established schedule.
At 5,652 million euros, FICC revenues achieved exceptional growth compared to 2019 (+58.6%). Equity and Prime Services revenues, at 1,166 million euros, were down by 41.9% compared to 2019, due to the exceptional shocks of the first quarter of 2020.
Across all segments, revenues amounted to 10,827 million euros in the final quarter of 2020, down by 4.5% compared to the fourth quarter 2019.
Full-year revenues, at 44,275 million euros, were almost stable (-0.7%) compared to 2019 at historical scope and exchange rates and rose by 1.3% at constant scope and exchange rates.
The Group’s full-year net income attributable to equity holders amounted 7,067 million euros, down by 13.5% compared to 2019. Excluding exceptional items, it totalled 6,803 million euros, down by 19.2% from the preceding year.