Dear colleagues,
In 2022, in an extremely turbulent global economic, public health and geopolitical context, we were nevertheless once again able to achieve some remarkable results. We can all congratulate ourselves on this performance.
These troubled times have shown us that the BRED Group’s strategy is more relevant than ever, still valid with the 100% advisory model, widely approved by our clients, both in France and internationally.
We are on track and have been rewarded for it! We continue to grow our NBI in all our markets against a backdrop of rising interest rates. And despite the significant increase in costs, growth in our NBI has enabled us to post one of the best operating ratios in the market, highlighting our efficiency.
This remarkable performance has been reflected in numerous successes:
- BRED Banque Privée voted “Best Private Bank” in France in 2022 by the Sommet du Patrimoine et de la Performance (Wealth and Performance Summit);
- the BRED Group’s trading desk awarded 3 CMDportal Money Markets Awards (recognised as the leading European trading room for the combination of volumes processed and client satisfaction);
- a Sustainability Rating of A1 from Moody’s (CSR);
- the opening of a branch in Dubai by our subsidiary BIC BRED Suisse;
- the signing by BGC of landmark contracts, such as the acquisition of IX Blue by Groupe Gorgé for €235m;
- a record number of loan applications processed and applications reviewed by the Credit Committee (1,500 in 2022 vs 530 in 2012);
- new innovative products and services for our clients all over the world: retirement space, split payments and services for professionals with BRED Services Pro+ in France; payment by QR Code and Crédit Chrono in-store in the French overseas departments; roll-out of the 100% advisory branch concept in Djibouti and the BRED Business Connect application for BRED Bank Fiji and BRED Bank Cambodia.
The growth of our NBI is based in particular on very active recruitment, which has returned to its pre-pandemic level, and on IT investments that enable us to respond to the major challenges of digital technology and cybersecurity.
It is another year of collective success that I would like to pay tribute to. We will be able to protect our business in 2023, which will be a difficult year for all banks, if we know how to stay the course with a reasoned management based on our strategy, on the strengths and values of the BRED Group, which are in particular value-added advice, our close relationship with our clients, our proactive approach and entrepreneurial spirit.
We can be proud of what we have achieved together. I would like to wish all of you, your families and those close to you a very happy 2023, filled with personal and professional success.
Kind regards to you all,
Olivier Klein