BNP Paribas Cardif Acquires AXA Investment Managers

BNP Paribas Cardif has finalized an agreement to acquire AXA Investment Managers, with a closing expected in July 2025. This transaction aims to create a leading asset management platform, strengthening BNP Paribas' position as the European leader in long-term savings management for insurers and pension funds.

The acquisition is aligned with the group's objective of supporting the economy by mobilizing savings to finance future projects. According to the ECB's current interpretation, the potential impact on BNP Paribas' CET1 ratio would be approximately -35 basis points, with a return on invested capital exceeding 14% in the third year. The group's dividend and share buyback strategy remains intact.

Final details on the prudential treatment will be communicated at closing, after consultation with the supervisory authorities.