2020 Universal registration document and annual financial report - BNP PARIBAS136

3 2020 review of oPerations

3

Core Business results

GLOBAL MARKETS

In millions of euros 2020 2019 2020/2019

Revenues 6,819 5,571 +22.4%

incl. FICC 5,652 3,563 +58.6%

incl. Equity & Prime Services 1,166 2,007 -41.9%

Operating Expenses and Dep. (4,452) (4,231) +5.2%

Gross Operating Income 2,367 1,339 +76.7%

Cost of Risk (117) 2 n.s.

Operating Income 2,250 1,341 +67.8%

Share of Earnings of Equity-Method Entities 1 3 -44.1%

Other Non Operating Items 3 (9) n.s.

Pre-Tax Income 2,254 1,334 +68.9%

Cost/Income 65.3% 76.0% -10.7 pt

Allocated Equity ( bn) 10.0 8.3 +20.9%

SECURITES SERVICES

In millions of euros 2020 2019 2020/2019

Revenues 2,217 2,198 +0.9%

Operating Expenses and Dep. (1,845) (1,833) +0.6%

Gross Operating Income 372 365 +1.9%

Cost of Risk 1 4 -77.1%

Operating Income 373 369 +1.0%

Non Operating Items 21 0 n.s.

Pre-Tax Income 394 370 +6.6%

Cost/Income 83.2% 83.4% -0.2 pt

Allocated Equity ( bn) 1.0 0.9 +1.2%

CORPORATE BANKING

In millions of euros 2020 2019 2020/2019

Revenues 4,727 4,312 +9.6%

Operating Expenses and Dep. (2,623) (2,599) +0.9%

Gross Operating Income 2,104 1,713 +22.8%

Cost of Risk (1,308) (223) n.s.

Operating Income 796 1,490 -46.6%

Non Operating Items 9 13 -28.9%

Pre-Tax Income 806 1,503 -46.4%

Cost/Income 55.5% 60.3% -4.8 pt

Allocated Equity ( bn) 13.5 12.5 +7.8%