The segment of the French bank containing its wealth management business had a "very good quarter," it said today.

BNP Paribas said today that group net banking revenue rose 8.5 per cent year-on-year in the first three months of 2026, to reach €14.06 billion ($16.4 billion), driven by positive operating performances in all three operating divisions, as well as the integration of AXA IM.

Pre-tax income rose 8.7 per cent to €4.608 billion in Q1 2026. Net income stood at €3.217 billion, up 9 per cent on a year before.

The Common Equity Tier 1 ratio – a standard international measure of a bank’s capital buffer – stood at 12.8 per cent at the end of March, up by 20 basis points compared with 31 December 2025, well above regulatory requirements. 

Looking forward, the bank is projecting its return on tangible equity to be 12 per cent this year, and over 13 per cent in 2028, with a cost/income ratio of about 60 per cent this year and below 56 per cent in two years’ time.

Shares in the bank have risen 10.5 per cent since the start of this year.

Investment & Protection Services – which is a division containing wealth management – had a “very good quarter,” the Paris-listed lender said. Net banking income in this area rose 32.8 per cent on a year earlier. Wealth and asset management results were boosted by a rise in fees.

There were €900 million of net inflows into wealth management in the quarter, helped by robust business momentum in commercial and personal banking, partly offset by outflows of assets under custody from some international clients. Assets under management stayed high, despite the impact of a strong negative market effect this quarter. 

Revenues rose overall to €671 million, helped by an 11.6 per cent rise in wealth management revenues, supported by higher fees, deposit income, and the integration of HSBC Wealth Management in Germany. 

Operating costs rose to €500 million, caused mainly by BNP Paribas’s integration of HSBC Wealth Management in Germany.