The French banking group has lifted a number of its targets, such as return on equity, and announced a broadly strong set of results for last year and the final quarter.

Net income at Paris-listed BNP Paribas rose 28 per cent year-on-year to €2.972 billion ($3.5 billion) in the fourth quarter of 2025; for the whole of last year, the figure rose 4.6 per cent to €12.2 billion.

Gross operating income rose by 13.3 per cent in Q4 2025 from a year before; operating expenses rose by 5.2 per cent, the bank said in a statement. Revenues rose 8 per cent.

Within investment and protection services – an area including private banking and wealth management – revenues rose strongly. They were up 39.6 per cent year-over-year, boosted by the integration of AXA IM and organic growth in the insurance, asset management and wealth management segments.

Wealth management achieved strong growth in assets under management, driven by a favourable market and strong asset inflows (€21.7 billion of inflows in 2025, of which €1.5 billion was in 4Q25). This quarter featured the initial contribution of HSBC Wealth Management activities in Germany (revenues about €10 million).

Ahead of schedule
The French group said that a number of key targets for 2025 were almost met, achieved or beaten: Return on tangible equity was 11.6 per cent, ahead of its 11.5 per cent target; net income of €12.22 billion beat its €12.2 billion objective, and its Common Equity Tier 1 ratio of 12.6 per cent came in ahead of its 12.3 per cent target for the year.

BNP Paribas said it has raised several 2028 targets, such as its return on tangible equity to more than 13 per cent from its previous target at that figure. It is also aiming at a cost/income ratio of less than 56 per cent, having previously set it at 58 per cent for 2028.

The bank’s investors appear to be happy, with shares up 11 per cent since the start of January, at €90.93 per share.

“The group turned in a record fourth quarter featuring excellent operating performances. Building on our 2025 results and a structurally favourable interest-rate environment, we confirm our 2026 objectives and are raising our 2028 objectives,” Jean-Laurent Bonnafé, CEO, said. “We are now strengthening foundations of our 2027 to 2030 plan and building an even more efficient and value-creating group.”