1 Results as at 31 March 2009 6 May 2009
Disclaimer This presentation contains forward-looking statements about BNP Paribas, Fortis Bank NV/SA and certain of their affiliates and the proposed tie-up that had been announced. Forward-looking statements include financial projections and estimates and their underlying assumptions and perspectives regarding plans, objectives and outcomes expected with respect to future events, operations, products and services, and assumptions regarding future performance and synergies. Many factors, a number of which are beyond BNP Paribas’ control, could cause actual outcomes to differ significantly from expected outcomes. Among these factors are the securing of required regulatory authorisations, the approval of BNP Paribas shareholders, the development of the businesses of BNP Paribas or Fortis Bank NV/SA and their subsidiaries, banking and financial services and insurance industry trends, future capital expenditures and acquisitions, changes in the global economy or in BNP Paribas’ and Fortis Bank NV/SA’s key local markets, the competitiveness of the market and regulatory factors. The occurrence of these events is uncertain and their outcomes may differ from current expectations which may in turn significantly affect expected outcomes. Actual outcomes may differ materially from those expected or implied in forecasts. BNP Paribas undertakes no obligation to publicly revise or update any forecasts. The information contained in this presentation, to the extent it relates to parties other than BNP Paribas or comes from external sources, has not been independently verified and no expressed or implied representations or warranties are made or given in relation thereto, and no certainty is given that information or opinions contained herein are true, correct, accurate or complete. Neither BNP Paribas nor its agents or representatives may be held any liability for any negligence or for any other reason in connection with any losses arising from any use of this presentation or its contents or otherwise arising from this presentation or any other materials or information to which it may make reference. Results as at 31.03.2009 | 2
Group Summary Summary by Division Conclusion Detailed Results Selected Exposures based on recommendations of the Financial Stability Forum 3
A Business Model that Weathers the Crisis The Group’s Structural Strengths Performance in 1Q09 � Diversified and integrated business model � Good earnings power of the three main activities in an environment that remains Rooted in retail businesses with powerful � challenging specialised platforms of Investment Solutions and CIB Net income Group share: €1.56bn � Cross-selling; customer-driven CIB � � Franchise’s attractiveness strengthened � Geographic mix concentrated in Western Investment Solutions : net asset inflow of � Europe (73%* of revenues) €13.4bn � Disciplined and proactive cost Cheque and deposit accounts: +65,000 � in France, +17,000 in Italy management � Cost/income ratio: 56.1%* � Attention paid to the average risk/return ratio over the cycle � Operating income stable despite the rise in cost of risk � Target to reduce risks in capital markets reached VaR: -46%/31.12.08 � � Tier 1 reinforced 8.8% (+100bp/31.12.08) � Results as at 31.03.2009 | 4 *Operating divisions only
Key Figures 1Q09 1Q09/1Q08 � Revenues €9,477mn +28.2% � Operating expenses -€5,348mn +16.1% � Gross operating income €4,129mn +48.0% � Cost of risk -€1,826mn x3.3 � Operating income €2,303mn +2.6% � Pre-tax income €2,290mn -14.4% � Net income group share €1,558mn -21.4% Net income of €1.56bn in an environment that remains challenging Results as at 31.03.2009 | 5
Revenues Revenues (including the impact of the financial crisis) +5.2% X2.8 4,308 4,533 3,696 -9.2% 1Q09 1,311 1,263 1,147 1Q08 in mn€ Investment Solutions Retail Banking* CIB of which: +0.5% +14.6% 1,520 1,528 +5.2% 1,045 912 715 680 French Retail Banking * BNL bc* Personal Finance Good sales and marketing drive Results as at 31.03.2009 | 6 *Including 100% of Private Banking and excluding PEL/CEL effects in France and including 100% of Italian Private Banking
Fast Adjustment of Costs to the Environment � Measures to adjust costs introduced in all businesses � Group’s operating expenses at constant scope and exchange rates and excluding variable compensation: -2.4%/1Q08 Cost/income ratio of operating divisions 79.2% 67.5% 64.0% 62.7% 58.9% 59.7% 62.2% 59.6% 56.1% 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 Target to stabilise costs* reached in the first quarter Results as at 31.03.2009 | 7 * At constant scope and exchange rates and excluding variable compensation
Variation in the Group’s Cost of Risk � Sharp rise in cost of risk: Cost of risk €1,826mn vs €546mn in 1Q08 Cost or risk/Risk-weighted assets under Basel I (in bp) 128 Of which provisions on counterparty risks: � 105 €277mn (€98mn related to monoline insurers) 25 * � Rise in Gross Operating Income 42 * (+€1,339mn/1Q08) outpaced the rise 103 4 * 63 in the cost of risk (+€1,280mn/1Q08) 51 50 32 30 18 19 Operating income up 2.6 %/1Q08 to � 2002 2003 2004 2005 2006 2007 2008 1Q09 €2,303mn * Impact of capital markets and of BancWest’s investment portfolio Operating performances that create a powerful capacity to absorb the cost of risk Results as at 31.03.2009 | 8
Variation in the Cost of Risk by Division (1/2) Cost of risk Cost of risk/Risk-weighted assets under Basel I (in annualised bp) French Retail Banking BNL bc Personal Finance 288 222 74 73 67 65 156 151 134 138 139 133 39 35 32 26 25 20 18 17 20022003 200420052006 20072008 1Q09 2006* 2007 2008 1Q09 2002 2003 2004 2005 2006 2007 2008 1Q09 ** � Cost of risk: €89mn � Cost of risk: €107mn � Cost of risk: €421mn +€61mn/very low base in +€23mn/1Q08 � � +€191mn/1Q08 � 1Q08 � Mortgages primarily fixed � � Sound mortgage market Deterioration, including in rate and well secured Italy and in France, in a � Past dues > 90 days context of economic � Very good quality already provisioned slowdown and rising corporate loan portfolio unemployment Results as at 31.03.2009 | 9 • Pro forma on a full year basis ** Excluding one-off write-backs
Variation in the Cost of Risk by Division (2/2) Cost of risk Cost of risk/Risk-weighted assets under Basel I (in annualised bp) Emerging Markets BancWest CIB–Financing Businesses Retail Banking 277 96 89 243 79 117 * 167 Ukraine 157 25 190 9 48 * 88 -3 85 81 69 199 132 42 47 38 34 * 30 119 19 16 -14 15 10 54 52 25 -28 2002 2003 2004 2005 2006 2007 2008 1Q09 2002 2003 2004 2005 2006 2007 2008 1Q09 2002 2003 2004 2005 2006 2007 2008 1Q09 � � Cost of risk: €279mn � Cost of risk: €420mn Cost of risk: €162mn � +€125mn/very low base Vs a write-back in 1Q08 � +€178mn/1Q08 � in 1Q08 Of which €79mn related � Impact of the strong global � � Of which €127mn in to the investment portfolio economic downturn Ukraine vs €35mn in 1Q08 � � Impact of the economic Ukraine set aside, no significant downturn recession on all loan books Results as at 31.03.2009 | 10 * Impact of provisions related to the investment portfolio
Pre-tax income Pre-tax income in €mn 1,317 1,229 1,129 1,000 746 536 536 523 430 318 302 210 134 38 1Q08 1Q09 1Q09 1Q08 1Q08 1Q09 -2,068 Retail Banking* Investment Solutions CIB Good profit generating capacity in the 3 divisions Results as at 31.03.2009 | 11 * Including 2/3 of Private banking excluding PEL/CEL effects in France and 2/3 of Italian Private Banking
Group Summary Summary by Division Conclusion Detailed Results Selected Exposures based on recommendations of the Financial Stability Forum 12
French Retail Banking � Continued strong pace of loan and savings asset inflow drive Revenues* Loans: +€9bn (+8.0%/1Q08) in €mn � +0.5% Deposits: +7.1%/1Q08, sharp growth in passbook savings � 1,528 and Livret A 1,520 1,514 1,465 1,444 Good gross asset inflows in life insurance: +4.2%/1Q08 � Growth in the net number of cheque and deposit accounts: � +65,000 vs +60,000 in 1Q08 � Revenues held up well*: +0.5%/1Q08 1Q08 2Q08 3Q08 4Q08 1Q09 Net interest income: +6.5%, good intermediation business � Gross Operating Income* Financial fees: -23.6% in a very adverse environment for financial � in €mn savings +2.4% Banking fees: +3.0% � 558 545 529 454 � Very good control of operating expenses*: -0.5%/1Q08 432 Continued streamlining of Back Offices expanded to all non � commercial functions (Middle Office) � Pre-tax income**: €444mn (-7.7%/1Q08) 1Q08 2Q08 3Q08 4Q08 1Q09 Maintained a positive 1 pt jaws effect Results as at 31.03.2009 | 13 * Incl. 100% of French Private Banking, excl. PEL/CEL effect; ** Incl. 2/3 of French Private Banking, excl. PEL/CEL effect
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