Cost of risk - BNP Paribas

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Cost of risk - BNP Paribas

Corporate and Investment Banking

Advisory and Capital Markets

2Q08 2Q07 2Q08/ 1Q08 2Q08/ 1H08 1H07 1H08/

In millions of euros 2Q07 1Q08 1H07

Revenues 1,139 1,750 -34.9% 708 +60.9% 1,847 3,414 -45.9%

Incl. Equity and Advisory 750 825 -9.1% 316 +137.3% 1,066 1,640 -35.0%

Incl. Fixed Income 389 926 -58.0% 392 -0.8% 781 1,775 -56.0%

Operating Expenses and Dep. -955 -1,064 -10.2% -662 +44.3% -1,617 -2,045 -20.9%

Gross Operating Income 184 686 -73.2% 46 n.s. 230 1,369 -83.2%

Provisions -43 0 n.s. -94 -54.3% -137 0 n.s.

Operating Income 141 686 -79.4% -48 n.s. 93 1,369 -93.2%

Associated Companies 0 3 n.s. 1 n.s. 1 9 -88.9%

Other Non Operating Items 12 19 -36.8% 12 +0.0% 24 23 +4.3%

Pre-Tax Income 153 708 -78.4% -35 n.s. 118 1,401 -91.6%

Cost/Income 83.8% 60.8% +23.0 pt 93.5% -9.7 pt 87.5% 59.9% +27.6 pt

Allocated Equity (€bn) 3.7 3.2 +13.1%

Revenues: €1,139mn in 2Q08, -34.9%/2Q07 record, +60.9% compared to 1Q08

Including the impact of monolines : -€457mn net of gains on hedging instruments

Costs: -10.2%/2Q07

+7% excluding variable compensation: selected hiring in priority businesses and regions and

rightsizing the business units most affected by the crisis

Cost of risk including €85mn provision to cover monoline insurers classified as doubtful

Positive pre-tax income of €153mn

Results as at 30.06.2008 Corporate and Investment Banking

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