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BNP Paribas shareholders have approved raising the CEO age limit from 65 to 68, allowing Jean-Laurent Bonnafe to potentially lead the bank until 2031. This decision comes amid concerns over succession planning, as Bonnafe, 63, is one of the longest-serving CEOs in global banking. The bank's shares have underperformed compared to rivals, with a 54% increase over three years, while the search for a successor remains ongoing.
Jean-Laurent Bonnafé serves as the Chief Executive Officer and Director at BNP Paribas Arbitrage SNC. He has held various key positions within the BNP Paribas Group since the 2000 merger with Paribas, including Head of French Retail Banking and Chief Operating Officer. Appointed Group CEO in December 2011, he also sits on the Board of Directors of Carrefour and has a background in the French civil service and investment banking.
BNP Paribas shareholders have approved a resolution to extend the age limit for the CEO position from 65 to 68, allowing Jean-Laurent Bonnafe to continue leading the bank beyond 2028. The decision received overwhelming support, with 98.47% of votes in favor.
BNP Paribas shareholders have renewed Jean-Laurent Bonnafe's mandate as board director, enabling him to continue as CEO until 2028, with 99.16% voting in favor. Additionally, a separate resolution to raise the age limit for a CEO is under consideration, potentially allowing Bonnafe to serve beyond 2028.
BNP Paribas shareholders have approved the renewal of Jean-Laurent Bonnafe's mandate as board director, enabling him to continue as CEO until 2028, with 99.16% voting in favor. Additionally, a separate resolution to raise the age limit for a CEO is under consideration, potentially allowing Bonnafe to serve beyond 2028.
BNP Paribas reported a 10.7% increase in wealth management revenues for Q1 2025, reaching €757 million, with pre-tax income up 36.1%. Total revenues rose 6.6% to €1.496 billion, supported by strong asset inflows and transaction fees, while net income for the group fell 4.9% to €2.951 billion. The bank maintains a robust Common Equity Tier 1 ratio of 12.4% and anticipates a return on tangible equity of 11.5% for 2025.
BNP Paribas's CEO Jean-Laurent Bonnafe expressed optimism about seizing opportunities amid a trade war-induced economic slowdown, despite the bank's mixed first-quarter results showing a 4.9% drop in net income to €2.95 billion. While revenues surged in its investment banking division, rising costs and sluggish retail performance, particularly in Italy, raised concerns among investors, leading to a 1.7% drop in shares. Bonnafe reaffirmed the bank's growth targets for 2024-26, emphasizing the need for European reinvestment amid fiscal spending plans.
BNP Paribas reported a 3.8% revenue increase to €12.96 billion in Q1 2025, driven by a record performance in its corporate and investment bank. CEO Jean-Laurent Bonnafé reaffirmed growth targets of 5% annually through 2026, with loan loss provisions expected to remain low. Despite trade war concerns, the bank's diversified portfolio and limited exposure to tariff-sensitive sectors provide a buffer against potential economic downturns.
BNP Paribas reported a first-quarter net profit of €2.95 billion, down 4.9% year-on-year, aligning with expectations. While group revenue rose 3.8% to €12.96 billion, operating expenses increased by 4.0%, missing consensus estimates. The bank reiterated its growth targets through 2026, highlighting its strong position to benefit from Europe's reinvestment momentum.
BNP Paribas reported a Q1 2025 net income of €2.95 billion, down 4.9% year-on-year, attributed to high non-recurring items in Q1 2024. The bank's Corporate and Investment Banking division saw a 12.5% rise in net banking income, while management costs exceeded expectations, leading to a 2.2% drop in shares. Despite challenges, BNP reaffirmed its 2026 targets, aiming for over 7% annual net income growth.
Jean-Laurent Bonnafé
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