Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Euronext Paris  >  BNP Paribas    BNP   FR0000131104

BNP PARIBAS

(BNP)
  Report  
Real-time Quote. Real-time Tradegate - 12/09 04:01:42 pm
50.655 EUR   -0.56%
02:29aNaspers Limited Offer Update -6-
DJ
02:29aNaspers Limited Offer Update -2-
DJ
02:28aProsus NV Offer Update -6-
DJ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Competition curbs French bank charge increases for 2018

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/23/2018 | 10:51am EST
A logo is pictured on a Credit Agricole bank branch in Paris

PARIS (Reuters) - French banks have raised customer charges at a slower pace this year as new low-cost online lenders and rules led some to predict a price war which would weigh on margins.

Data from state statistics institute INSEE released this week showed growth in charges slowed in January when lenders usually set their rates for the year, after they raised fees in 2017 at the highest pace in nearly 20 years.

The INSEE data showed that consumer price index of banking charges rose by 1.05 percent over one year in January, down from 2.49 percent in January of last year.

"Banking services will not be free. The security of a deposit is by essence costly," Frederic Oudea, chief executive of Societe Generale said earlier this year.

Established banks, such as BNP Paribas, Societe Generale and Credit Agricole are facing increased competition from the likes of new online low-cost banks such as N26 or Orange bank.

Consultancy firm EY estimated that the new low-cost online banks now have a five percent share of the French market which totals 120 million accounts.

Analysts had predicted that this could spark a price war as happened in France's telecoms sector, while the established banks have invested a lot to retain clients with their own low-cost offers, such as BNP Paribas' Hello Bank!, Boursorama for SocGen or EKO for cooperative group Credit Agricole.

"We are very far from the situation which was observed in the French telecom industry in 2012 when telecom operators had to face a period of several months of declines in average revenue per user," said Axel Duplan, a senior manager at EY.

That is partly because French retail banking clients have so far tended not to leave their established lender, instead open new accounts at lower cost online banks for daily use.

"Customers don't yet change banks frequently, not seeing them as easily replaceable as digital providers, but we believe this shift could occur in the medium term as the new legal framework eases banking mobility," analysts at ratings agency S&P said in a note.

French bank clients like not only having an account but also savings products, life, auto, property, and health insurance that online banks are so far not able to provide, S&P said.

BNP Paribas' chief financial officer Lars Machenil said in February it was yet to see the impact of the arrival of Orange bank and a step-up in competition.

To view a graphic on French banking fees, click: http://reut.rs/2EiNHsi

(Reporting by Maya Nikolaeva; Graphic by Leigh Thomas; Editing by Alexander Smith)

By Maya Nikolaeva

Stocks treated in this article : BNP Paribas, Orange, Société Générale, Crédit Agricole
Stocks mentioned in the article
ChangeLast1st jan.
BNP PARIBAS -0.33% 50.77 Real-time Quote.29.04%
CRÉDIT AGRICOLE 0.28% 12.61 Real-time Quote.33.35%
ORANGE -0.96% 13.46 Real-time Quote.-3.99%
SOCIÉTÉ GÉNÉRALE -0.09% 29.33 Real-time Quote.5.52%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BNP PARIBAS
02:29aNaspers Limited Offer Update -6-
DJ
02:29aNaspers Limited Offer Update -2-
DJ
02:28aProsus NV Offer Update -6-
DJ
02:25aProsus NV Offer Update -2-
DJ
12/06ANALYST VIEW : What deeper OPEC+ oil output cuts mean for the market
RE
12/05Big European banks face call to end funding for firms building coal-fired pla..
RE
12/02Deutsche Bank's dealmaker leaves for hedge fund
RE
12/02Burst of social unrest tests emerging market risk models
RE
12/02Tesco Corporate Treasury Services Tender Offer - Final Results
DJ
11/29BNP PARIBAS : considers axing 250 jobs in Switzerland
RE
More news
Financials (EUR)
Sales 2019 44 132 M
EBIT 2019 13 140 M
Net income 2019 7 844 M
Debt 2019 -
Yield 2019 6,06%
P/E ratio 2019 8,25x
P/E ratio 2020 8,04x
Capi. / Sales2019 1,44x
Capi. / Sales2020 1,41x
Capitalization 63 415 M
Chart BNP PARIBAS
Duration : Period :
BNP Paribas Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BNP PARIBAS
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 54,25  €
Last Close Price 50,94  €
Spread / Highest target 35,5%
Spread / Average Target 6,49%
Spread / Lowest Target -23,4%
EPS Revisions
Managers
NameTitle
Jean-Laurent Bonnafé Chief Executive Officer & Director
Jean Lemierre Chairman
Philippe Bordenave Chief Operating Officer & Director
Denis Kessler Director
Jane Fields Wicker-Miurin Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
BNP PARIBAS29.04%70 307
JPMORGAN CHASE & CO.38.33%423 487
BANK OF AMERICA CORPORATION36.65%302 865
INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED-0.36%281 885
WELLS FARGO & COMPANY17.99%229 950
CHINA CONSTRUCTION BANK CORPORATION-2.33%202 884