Strong Revenue Growth
Group revenues increased by 3.8% year-on-year, with operating divisions achieving a 6.1% increase. CIB had a record quarter with 12.5% revenue growth, driven by strong performance in global markets (up 17.3%) and Security Services (up 13.4%).
Cost Control and Savings
Achieved €190 million in cost savings in Q1, on track to meet the €600 million target for the year. Operating divisions achieved a positive jaws effect of 1.9 points.
Positive Outlook for IPS Division
IPS posted a 6.6% revenue growth, driven by Wealth Management and Insurance. The division is expected to become a significant growth driver for the group, with the AXA IM acquisition strengthening its position.
Stable CET1 Capital Ratio
Common Equity Tier 1 (CET1) ratio remained stable at 12.4%, comfortably above the SREP requirement and in line with the 12.3% target before FRTB.