French financial services holding company BNP Paribas has confirmed the acquisition of AXA Investment Managers (AXA IM) following an agreement signed on 1 August 2024.
BNP Paribas said the acquisition aligns with the group’s strategy of supporting the economy by mobilising savings for future-oriented projects.
Building on AXA IM’s market position and expertise in private assets, the company aims to strengthen its position in long-term asset management for insurers and pension funds.
The transaction would impact the Group’s CET1 ratio by around -35 basis points, with expected returns exceeding 14% in the third year and more than 20% in the fourth year.
The European Central Bank (ECB) recently expressed its opinion on the prudential treatment of asset management company acquisitions.
BNP Paribas’ internal analyses suggest that, under the ECB’s interpretation, the Group’s profitability objectives, growth trajectory, and equity and CET1 trajectory will remain unchanged.
The share buyback programme announced in February 2025, which has received ECB approval, will proceed as planned.
BNP Paribas’ distribution policy, including dividends and shareholder returns, remains consistent with previous commitments.
The acquisition is expected to be completed by early July 2025.
Details regarding the prudential treatment conditions for the transaction will be disclosed upon closing, following discussions with relevant supervisory authorities.
The financial services company operates in 64 countries with a workforce of nearly 178,000 employees, including over 144,000 in Europe.
