PRESS RELEASE FIRST HALF 2026

BNP Paribas Fortis reported a net profit of EUR 1.5 billion for the first half of 2026

BNP Paribas Fortis posted solid consolidated results in the first half of 2026, driven by income growth and the gain from the sale of its stake in AG Insurance. However, results were impacted by lower used-car prices at Arval due to adverse geopolitical conditions, impacting the oil price. Net income attributable to equity holders amounted to EUR 1,494 million.

Press Release

2026 Half Year Results

Brussels, 4 September 2026

Statement by Michael Anseeuw, CEO of BNP Paribas Fortis

❖ Our operating environment

Geopolitical instability increased further in 2026 due to escalating conflicts in the Middle East. This has disrupted energy prices, trade flows and industrial supply chains, requiring adjustments to inflation and growth forecasts. In Belgium, we now anticipate year-on-year inflation of 2.8% instead of 1.8%, while our nowcasting indicates growth will slow to 0.1% in the third quarter of 2026, mainly due to elevated oil prices. This has also had a negative impact on the value of thermal used cars at Arval. Nevertheless, the Belgian economy is proving to be resilient, with no significant rise in insolvency levels in the first half of 2026.

❖ Our banking activities

In these volatile times, our strength as a universal bank lies in our ability to support all customer segments with a full suite of banking and insurance services. This is reinforced by a high-performance digital platform and a variable-cost physical distribution network. Reinforcing access to our products and services will remain a key strategic focus in the coming years.

On 1 June, we announced our financial targets for Commercial and Private Banking activities in Belgium (CPBB) up to 2030. These include a pre-tax return on net equity (RoNE) of approximately 22% by 2028 and 25% by 2030. We will achieve this by leveraging on our #1 market positions across core client franchises, streamlining our operating model and accelerating our digital & AI transformation. The finalisation of our new distribution agreement with AG Insurance in the second quarter of 2026, combined with a broker partnership, will enable us to offer a broader range of insurance solutions. By moving away from the tied-agent model, we will increase flexibility in product offerings for clients with more complex needs - such as Private Banking clients, Professionals, Local Businesses and MidCaps - while creating cross-selling opportunities.

❖ Our consolidated results

Our revenues grew by +4%*, despite the negative impact of the second-hand vehicle prices at Arval (+10%* excluding this impact), with most business lines contributing positively. Our net profit reached EUR 1.5 billion, including EUR 0.6 billion of gain on the sale of our stake in AG Insurance. The year-on-year variance at constant scope and forex and excluding exceptional items is -7%* or +15%* excluding Arval’s used-car impact, despite a EUR 148 million rise in the cost of risk, primarily driven by higher provisions on non-performing loans (mainly at TEB in Türkiye and CIB).

Our cost/income ratio came to 55.5%, while the return on normative equity (RoNE) was 10.4%. With a CET1 ratio of 14.0%¹ and a liquidity coverage ratio of 130%, we remain a well-capitalised and resilient bank, ready to support our clients across economic cycles.

❖ Our Belgian activities

Our Belgian operations² reported rising net profit in the first half of 2026, driven by higher margins and commission revenues, while investments were made to enhance future growth and operational efficiency. Excluding the gain from the sale of the AG Insurance stake, the net profit rose by EUR 75 million year-on-year (+16%). This growth was mainly driven by EUR 263 million (+11%) higher revenues and lower costs, supported by a one-off reduction in the Deposit Guarantee Scheme contribution and ongoing cost discipline. These positive effects were partially offset by an increased cost of risk related to international clients.

In Belgium, total loans reached EUR 157.5 billion (+0.8%), while deposits grew to EUR 165.7 billion (+1.2%), with a shift from current accounts toward term and savings products. Off-balance-sheet products also expanded significantly to EUR 116.9 billion, including a 5.7% rise in life insurance and a 16.6% increase in mutual funds. New loan production amounted to EUR 17.3 billion.

• Most accessible bank for retail and private banking customers

During the first half of 2026, digital adoption of our services continued to grow, solidifying our position as the largest digitised customer base on the Belgian market. Easy Banking App sessions increased by 4% compared to the first half of 2025, with 2.77 million active users (+3%). We expanded end-to-end mobile sales and empowered customers with self-service tools. With our digital assistant Samy we achieved a 77% resolution rate in almost 0.8 million conversations in the first half of 2026. These efforts earned us Euromoney’s ‘Best Digital Bank for Consumers 2026’ award.

Our client franchise saw strong customer growth across all segments, with customer acquisition increasing 46% year-on-year. Our individual customers also took out more loans, with mortgage production realising a 14.6% year-on-year increase reaching EUR 3.9 billion. Variable-rate mortgages accounted for 21.7% of the total, up from just 7% in the first half of 2025. Consumer credit grew by 7.6%, driven primarily by energy-efficient renovation loans and auto financing.

Our insurance business sustained strong growth in the first half of 2026, with a 2.7% growth to 1.1 million contracts in private non-life insurance, a 60% increase in premium income in non-life insurance for professional clients, and solid commercial dynamics in life insurance. Following the extended distribution agreement with AG Insurance, our focus now shifts to the concrete rollout of this new phase. This phase combines commercial growth, operational simplicity, and digital customer and employee journeys into a single, reinforced insurance approach.

Our customers increased their investments across nearly all products, with particularly strong growth in savings certificates (+89%), Branch 23 financial insurance (+36%), and investment funds (+8%). Our competitive pricing for fixed-income products proved highly attractive. This appeal was further strengthened by a broad, appealing range of options, including varied investment horizons and payout structures.

Assets under management in the Priority and Private Banking segment grew by 10.4% compared to the first half 2025. This confirms the strong appeal of our offering to these clients. The new MyFamily Agreement proved highly attractive with more than 4,000 contracts signed since its January launch. Through this agreement, children of clients with a patrimonial arrangement benefit from their parents’ Private Banker or Wealth Manager’s expertise. This support covers Private Banking specific projects, such as property purchases or business launches, as well as preparation for managing their own (or future) wealth.

• Maintained market-leading position in Corporate Banking

We further consolidated our position in the Belgian investment banking market, earning recognition by Euromoney as ‘Best Investment Bank 2026’ and ‘Best Bank for Large Corporates 2026’ in Belgium.

We achieved several noteworthy deals:

• We supported Wyre with a EUR 4.4 billion debt financing package – the largest Belgian infrastructure financing to date. Wyre, a Belgian telecom and infrastructure operator, is a joint venture between Telenet (owned by Liberty Global, the broadband market leader in Flanders and Belgium) and Fluvius. The bank acted as Rating Advisor, Structuring Bank, Underwriter, Physical Bookrunner, Mandated Lead Arranger, Hedge Coordinator and Provider on the package. The transaction underscores our leading structuring and underwriting capabilities for top-tier sponsor clients in the digital infrastructure sector.
• We acted as Joint Underwriter and Arranger for a 3-year USD 1.5 billion Term Loan as well as the EUR 0.5 billion addition to the existing Revolving Credit Facility for UCB’s acquisition of the US clinical-stage biotech company Candid Therapeutics, further reinforcing UCB’s position as a leader in immunology innovation.
• We also led and structured EUR 1.15 billion of bridge loan and EUR 480 million of revolving credit facility for Interparking Group, a leading car park operator. This structuration supported the refinancing of existing credit facilities and capital expenditure following Interparking’s integration of Spanish operator Saba Infraestructuras. More recently, we served as one of the Global Coordinators for Interparking’s inaugural EUR 1.15 billion bond issuance.

New loan production in Corporate Banking (including CIB) in the first half of 2026 totalled EUR 8.4 billion and we maintained our #1 market share. In the local businesses segment, insurance premium income and contract volumes grew by 60%, reinforcing our ambitions as a key bancassurance player.

Digital banking adoption among business clients continued to accelerate, with Easy Banking Business (EBB) sessions across all channels increasing by 32.2% and EBB Mobile by 57.8%. Compared to the first half of 2025, the number of business users of our digital channels rose by 10%, with mobile users surging by 33%. Mobile is now a standard feature in almost all new contracts. Instant payments grew by 75%, replacing traditional SEPA credit transfers.

❖ Our employees

Our employees form the foundation of our leading franchise, customer service and financial performance. Their expertise and commitment drive the successful execution of our transformation. We continue to invest in their development through training with employees completing more than 35,000 days of training in the first half of 2026. We also empower them through the application of our AI and automation programmes in their daily tasks. Our AI tools generated output equivalent to 370 full-time employees as of the end of June 2026, with more than 90 use cases in production. AI and data mining will play an increasingly vital role in the back-office operations, particularly for Know Your Customer processes, cybersecurity and fraud detection.

Our customer initiatives have driven increased satisfaction across all segments, demonstrating positive relational and transactional NPS trends in retail banking alongside exceptionally high scores in private banking and corporate banking, building on an already strong baseline. This reflects our customers’ recognition of our services and the strong commitment of our employees. Our robust commercial and financial performance – achieved in a highly competitive and dynamic market – strongly positions the bank to address emerging customer trends, evolving expectations, and technological advancements throughout the second half of 2026 and beyond.

I’d like to thank all our employees for their efforts and our customers for the trust and confidence which they continue to place in us.

Michael Anseeuw
Chief Executive Officer

Business growth supported by all consolidated segments

CUSTOMER LOANS³
EUR 279.0 BILLION
+3.7%* vs. 30.06.2025

CUSTOMER DEPOSITS⁴
EUR 217.5 BILLION
+2.8%* vs. 30.06.2025

Continued support to the Belgian economy

EUR 157.5 BILLION
(+0.8%) of loans portfolio⁵ vs. 30.06.2025

EUR 165.7 BILLION
(+1.2%) of deposits portfolio⁵ vs. 30.06.2025

EUR 17.3 BILLION
(-1.0%) of loan production⁶ vs. 30.06.2025

EUR 116.9 BILLION
(+11.8%) of off-balance sheet assets under management⁷ vs. 30.06.2025

Solid Financial Structure

Return on Normative Equity
10.4%¹³
(Adjusted for IFRIC 21)

Common Equity Tier 1 ratio
14.0%¹

Liquidity Coverage Ratio
130%⁹

Consolidated income statement

Revenues
EUR 5,430 MILLION
+4%* vs. 1H 2025

Costs
EUR (3,206) MILLION
+2%* vs. 1H 2025

Gross Operating income
EUR 2,224 MILLION
+8%* vs. 1H 2025

Cost of risk
EUR (446) MILLION
+10BP⁸ vs. 1H 2025

Pre-tax income
EUR 2,306 MILLION
Stable* vs. 1H 2025

Net income
EUR 1,494 MILLION
-7%* vs. 1H 2025

Consolidated income statement
Excl. used-cars impact at Arval

Revenues
EUR 5,695 MILLION
+10%* vs. 1H 2025

Costs
EUR (3,206) MILLION
+2%* vs. 1H 2025

Gross Operating income
EUR 2,488 MILLION
+24%* vs. 1H 2025

Cost of risk
EUR (446) MILLION
+10BP⁸ vs. 1H 2025

Pre-tax income
EUR 2,571 MILLION
+17%* vs. 1H 2025

Net income
EUR 1,682 MILLION
+15%* vs. 1H 2025

Consolidated income statement and key figures & ratios

Analysis of the first half 2026 financial performance

BNP Paribas Fortis consolidated net income attributable to equity holders in the first half of 2026 amounted to EUR 1,494 million and included the gain on the sale of the participation in AG Insurance for EUR 636 million (considered as a retreated item¹¹). Compared to the first half of 2025, reported net income showed an increase of +41%.

When excluding the retreated items¹¹, net income attributable to equity holders showed an underlying decrease of -7%* due to the drop in the used car prices at Arval. Excluding this impact, net income increased by +15%*.

Revenue growth (+4%*) supported by most activities but impacted by used-car prices at Arval (+10%* excluding this impact)

At BNP Paribas Fortis, revenues increased driven by a strong growth of revenues in the Commercial & Personal Banking activities (+14%*) with a higher net interest income on deposits, whereas the margin on customer loans remained under pressure in a context of fierce competition.

The revenues of the Corporate & Institutional Banking business were lower compared to the first half of 2025, mainly on lending activities in a less supportive international environment, while market activities servicing clients increased.

At BGL BNP Paribas, Commercial & Personal Banking revenues increased thanks to an increase in net interest income on deposits, while net interest income on loans remained stable.

Revenues at Arval & Leasing Solutions showed a substantial decrease compared to the first half of 2025. Lower revenues stemmed from Arval’s second-hand vehicles sales, resulting from a sharp fall in the used-car prices strongly impacted by the context of the Middle-East war and the increasing fuel prices. On the other hand, Arval delivered a robust organic growth supported by the further expansion of the financed fleet (+6%) and higher margins. Revenues at Leasing Solutions decreased mainly due to lower margins on production.

Revenues increased at Türk Ekonomi Bankasi (TEB), driven by an increase in the net interest margin, resulting from higher commercial margins on customer loans and deposits, and by a higher net commission income. This increase is partly offset by lower revenues from market activities servicing clients.

At Personal Finance, revenues were up thanks to positive volume and margin effect leading to higher net interest income.

The analysis below focuses on underlying performance¹¹. The consolidation scope includes BNP Paribas Fortis¹⁵ in Belgium, BGL BNP Paribas¹⁵ in Luxembourg, Türk Ekonomi Bankasi¹⁵ in Türkiye, Arval & Leasing Solutions¹⁵ and Other entities¹⁵.

Contained costs’ increase despite inflation

At BNP Paribas Fortis, costs were lower mainly thanks to the one-off decrease in the contribution to the Belgium’s Deposit Guarantee Scheme (DGS). Other expenses rose, reflecting continued investments in line with our strategic plan.

Costs at Arval & Leasing Solutions and Personal Finance grew in line with the continuous development of the activities.

In an economy still in hyperinflation (inflation of 32% in June 2026), TEB was able to mitigate a large part of the cost increase thanks to strict cost control.

Gross operating income of EUR 2,224 million or +8%*, but +24%* excluding the impact of second-hand car prices at Arval

At BNP Paribas Fortis, the cost of risk increased compared to the first half of 2025 due to higher provisions on a few non-performing loans. A similar trend was observed at BGL BNP Paribas.

The cost of risk at Arval & Leasing Solutions was stable compared to the first half of 2025.

At Personal Finance, the cost of risk increased as expected and in line with the evolution of the activities in the UK.

The cost of risk at TEB increased with higher non-performing loans in a context of high inflation, partly offset by lower provisions on performing loans. Cost of risk level at TEB remained below the Turkish market average.

Gross operating income was EUR 2,224 million, increasing by +8%* (+24%* excluding the impact of the used-car prices at Arval). The cost / income ratio adjusted for IFRIC 21 improved from 56.6% in 1H 2025 to 55.5% in 1H 2026.

Higher cost of risk at 32 bp

Consolidated operating income of EUR 1.8 billion

The share of earnings of equity-method entities amounted to EUR 76 million in 1H 2026 compared with EUR 221 million in 1H 2025. The decrease was mainly driven by the sale of the bank’s stake in BNP Paribas Asset Management to BNP Paribas on 2 July 2025 and the sale of the bank’s stake in AG Insurance on 29 April 2026 (these two impacts were neutralised in the retreated items), and lower results at BNP Paribas Bank Polska mainly impacted by higher taxes.

Pre-tax income remained stable* compared with 1H 2025 and increased by +17%* excluding the negative impact of the used car prices at Arval.

The corporate income tax expenses amounted to EUR 611 million in 1H 2026. The effective tax rate was 38%, versus 34% in 1H 2025.

Net income attributable to equity holders amounted to EUR 1,494 million, a decrease of -7%* compared with the first half of 2025, but an increase of +15%* excluding the negative impact of the used car prices at Arval.

The consolidated balance sheet totalled EUR 394.7 billion on 30 June 2026, an increase of EUR 9.3 billion* compared with 30 June 2025. The bank had EUR 279.0 billion of customer loans³, an increase of EUR 9.9 billion*, and EUR 217.5 billion of customer deposits⁴, up EUR 6 billion*.

Solid balance sheet and financial position

The consolidated Common Equity Tier 1 ratio¹ rose to 14.0%, compared with 12.8% as of 30 June 2025.

The non-consolidated Liquidity Coverage Ratio stood at 130%, compared to 125% as of 30 June 2025.

Press contact

Valéry Halloy
valery.halloy@bnpparibasfortis.com
+32 (0)475 78 80 97

Hilde Junius
hilde.junius@bnpparibasfortis.com
+32 (0)478 88 29 60

Jeroen Petrus
jeroen.petrus@bnpparibasfortis.com
+32 (0)498 32 14 94

BNP Paribas Fortis (www.bnpparibasfortis.com) offers the Belgian market a comprehensive range of financial services for private individuals, the self-employed, professionals, companies and public organisations. In the insurance sector, BNP Paribas Fortis works closely, as a tied agent, with Belgian market leader AG Insurance. At international level, the Bank also provides high-net-worth individuals, large corporations and public and financial institutions with customised solutions, for which it is able to draw on the know-how and international network of the BNP Paribas Group.

Leader in banking and financial services in Europe, BNP Paribas (www.bnpparibas.com) operates in 64 countries and has over 180,000 employees, including more than 146,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. The Group has a historic footprint in four eurozone markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Türkiye, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group's performance and stability.

Notes

1. Phased-in.
2. Activities in Belgium include: “BNP Paribas Fortis”, Arval & Leasing Solutions activities in Belgium, “Alpha Credit” and “AG Insurance” (until 29 April 2026).
3. Loans and receivables due from customers excluding securities and reverse repos and including Arval’s rental fleet.
4. Amounts due to customers excl. repurchase agreements (‘repos’) and including the savings certificates.
5. Includes BNP Paribas Fortis excluding CIB international, Arval & Leasing Solutions in Belgium, Alpha Credit.
6. Includes BNP Paribas Fortis excluding CIB international, Leasing Solutions in Belgium, Alpha Credit.
7. Commercial & Personal Banking in Belgium scope, excluding Assets under Administration (AuA).
8. Cost of risk on average outstanding loans over the period.
9. On a non-consolidated basis.
10. Variances are calculated as follows:
    • c = a – b
    • d = c / b
    • g = (a – e) – (b – f)
    • h = g / (b – f)
11. Retreated items for the Profit and Loss account relate to the following elements:
    • Adjustments for constant exchange rates, mainly related to the Turkish lira depreciation.
    • Adjustments for constant scope, including mainly the sale of participation in BNP Paribas Asset Management to BNP Paribas on 2 July 2025, the liquidation of BNPPF NY Branch in Q4 2025, sale of AG Insurance on 29 April 2026 and the liquidation of FCT Pulse France in Q1 2026.
    • Other one-off results, mainly related to, in 2025 (i) the residual profit on sale of non-banking activities from Isabel, in 2026 (ii) gain on sale of participation in AG Insurance on 29 April 2026, and in 2025 and 2026, (iii) the IAS 29 treatment of hyperinflation in Türkiye, (iv) the transformation, restructuring & adaptation costs and (v) the remaining non-operating income, and associated corporate income taxes and minority interests.
12. The cost income ratio is calculated by dividing the total operating expenses and depreciation (absolute value) by the total revenues (the net banking income). The cost income ratio is adjusted for IFRIC 21.
13. The return on normative equity is calculated by dividing the annualized net income attributable to equity holders adjusted for IFRIC 21 (absolute value, corrected with the remuneration from Additional Tier instruments of the year and annualized, excluding the one-offs related to the net gain on the sale of AG Insurance in 2026 and the residual profit on sale of non-banking activities from Isabel in 2025) by the normative equity (13% of the average risk weighted assets of the current period). We moved away from ROE (Return on Equity) to RONE (Return on Normative Equity) because RONE measures performance against the required or target level of equity, giving a fairer view of value creation relative to the capital that should be held.
14. The Other Non-Operating Items include in H1 2026 the one-off gain on sale of the participation in AG Insurance on 29 April 2026 for 636 million euros.
15. The structure of the consolidation scope includes:
    • “BNP Paribas Fortis”: mainly the legal entity BNP Paribas Fortis and some smaller subsidiaries, mostly located in Belgium, of which legal entities of the Factoring and Private Equity businesses;
    ➢ Main businesses are Commercial & Personal Banking in Belgium and Corporate & Institutional Banking.
    • “BGL BNP Paribas”: mainly the legal entity BGL BNP Paribas (50% ownership) and some smaller subsidiaries, mainly located in Luxembourg;
    ➢ Main business includes Commercial & Personal Banking in Luxembourg.
    • “Türk Ekonomi Bankasi”: mainly the legal entity Türk Ekonomi Bankasi (“TEB”) (49% ownership) and some smaller subsidiaries, mainly located in Türkiye;
    • “Arval & Leasing Solutions”: all legal entities of Arval (100% ownership) and Leasing Solutions (25% ownership).
    • “Other”: mainly Personal Finance (100% ownership) and participations consolidated in equity method, mainly AG Insurance located in Belgium (25% ownership, until 29 April 2026), BNP Paribas Bank Polska located in Poland (24% ownership) and BNP Paribas Asset Management with international activities (33% ownership, until 2 July 2025).