BNP Paribas Fortis Economy

BNP Paribas Fortis supported the Belgian economy with more than EUR 18 billion of new credits in 1H 2023

BNP Paribas Fortis achieved solid consolidated results in the first half of 2023. The net banking income stood at EUR 5,268 million, increasing by +10.2% compared to the first half of 2022. The net income attributable to equity holders, at EUR 1,530 million, decreased by -4.9%. At constant scope, constant exchange rates and excluding other one-off results, the net income attributable to equity holders increased by +14.6%*. With a common equity tier 1 ratio at 16.5% and liquidity coverage ratio at 125%, the financial structure of BNP Paribas Fortis remains very strong.

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Our customers continue to value BNP Paribas Fortis, as evidenced by the good commercial dynamics in all our businesses. However, we see that the Belgian economy is cooling down and that individuals and businesses are starting to feel more pressure from persistently higher inflation and more expensive financing costs. Mortgage loan applications, for example, are down 45% year-on-year.

The rapid rise in policy rates is unprecedented since the introduction of the euro. In this quickly changing interest rate environment, we are managing our deposit and credit portfolios and cost structure responsibly. Our good results, our strong financial structure and our sound risk profile position us well to fully support our customers’ needs and deal with the many challenges ahead, not in the least the sustainable transformation of Belgian enterprises and individuals for which we have specific loan and investment products and dedicated experts available.

Michael Anseeuw - Chief Executive Officer:

“Our customers rightly value accessibility. I am proud that in 2023, we are again taking major steps to be as close as possible to them. We are building a unique physical network in Belgium, with the integration of bpost bank in early 2024 as a key part of our plan. Our in total 4.8 million clients will have access to the largest physical network of more than 960 BNP Paribas Fortis bank and bpost bank branches, complemented by Nickel and Fintro.

Going forward, we will launch the modular Easy Go and Easy Guide banking packages that customers can personalise, offering excellent value for money. All options in the packs are free in 2024 and the customers will only pay the basic pack of Easy Go (2 euros/month) or Easy Guide (5.5 euros/month), allowing each customer to finetune the package best suiting his or her specific needs. This is a welcome gift to bpost bank customers, a thank you to BNP Paribas Fortis customers, and an invitation to new customers to discover our offering and services.

We are also living up to our role as Belgium’s most accessible bank on the digital front by accelerating our digital strategy to become a digital champion. Our Easy Banking app is a hub for ‘fintegration’ and innovative fintech solutions. These are integrated directly into our app, allowing us to propose an optimal customer journey, better security assurance, and synergies with other services in our mobile ecosystem.

More than 500,000 customers have discovered the Budget Management tool in our app, while the Easy Cashback programme has welcomed 80,000 customers in four months.

I would like to thank our customers for their trust in our banking and insurance solutions and our employees for their dedication and support.”

You will find the entire press release and the slideshow in attachment. 

Press Team

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