More than 12 billion euros of revenues, about 4.5 billion euros of taxable result. Funding and investment of BNP Paribas Bank found not just colours last year, she reached the historical results. And while the political sensitivity about the bonus remains very strong, she wanted to play the transparency card, announcing that the bonus in market activities would be in total EUR 1 billion, including 500 million in cash. The balance will be paid on a conditional basis, titles and deferred over three years. The 4,000 bank market will therefore affect each 125.000 euros cash on average this year, and far back on the next three years.
The figure given by the Bank is nonetheless symbolic and difficult to operate because impossible to compare with those of previous years. "The overall envelope of the bonus is lower than in 2006 or 2007," assure in BNP Paribas, which, if taking the recommendations G20, was published that the amount of the bonus cash in market activities.
However, the overall allocation of salaries (fixed and variable, out of taxes on bonuses) in the BFI has remained stable from 2006 or 2007. It rises in 2009 to more than 3.3 billion euros in 2009, or as in 2006 and 2007. However, the has wages in income proportion declined, from 40 to 27.7.
BNP Paribas also emphasises the part of the bonus in cash reduced income of the activities of markets, from 17 per cent before the crisis, to 5.5 in 2009. In absolute terms, it returned approximately EUR 1 billion in cash in 2006 - 2007 to 500 million last year. But impossible to know what was the share paid back before the crisis. In any event, the Bank believes have made enough efforts. "It is at the limit of the exercise, yesterday said Georges cauldron of Courcel, Associate General Manager of the group.". It is now necessary that everyone follow the will for change that we have begun to apply.
Fine performance in the BFI
The bonus comes in any case welcome a fine performance in the BFI last year that the Bank is not able to reproduce in 2010. In 2009, the results of certain activities, particularly in the bond, reached record levels in most of the other banks. Largely enjoy a very favourable market environment, particularly in the first quarter, the Bank reached more than half of its revenues in this trade, namely EUR 7.2 billion, three times more than in 2008. Actions and Council activities are returned in the Green, with revenues of EUR 1.8 billion in 2009, against a loss of 341 million a year earlier.
Financing trades generated on their side more than 3 billion revenue, up almost 7, worn by an activity supported in structured finance and commodities. What are them now bear the bulk of the risk. The Bank continued provision, with 2.3 billion set aside in 2009, 60 allocated to financing activities. In these trades, the cost of risk rose 25 point basis in 2008 96 basis points last year. The Bank including increased EUR 600 million the provisions allocated for its portfolio of LBO funds, which total $ 10.7 billion in final parts. The stock of provisions for the LBO risk thus amounted to 1.4 billion.
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