BNP Paribas sees path to around 50% cost-income ratio over time, CEO says

PARIS, July 23 (Reuters) - BNP Paribas sees a path toward a cost-income ratio of around 50% over time as it steps up efficiency measures, Chief Executive Jean-Laurent Bonnafe said on Thursday.

The French lender expects its cost-income ratio improvement to accelerate to around two percentage points a year from 2027 onwards, driven by a broader cost-cutting programme, increased use of artificial intelligence and simplified organisation.

BNP Paribas expects its cost-income ratio to fall below 56% by 2028, with further improvements thereafter, Bonnafe told analysts after the publication of the bank's second-quarter results.

(Reporting by Mathieu Rosemain; editing by Ingrid Melander)