BNP Paribas increased net profit
BNP Paribas increased its net profit by 11% yoy in the third quarter. Higher revenues from trading financial instruments with fixed income and international operations support retail financial result in the period. In fact, the credit institution is returned to profit after a realized loss in the second quarter – the first since the financial […]
BNP Paribas increased its net profit by 11% yoy in the third quarter. Higher revenues from trading financial instruments with fixed income and international operations support retail financial result in the period. In fact, the credit institution is returned to profit after a realized loss in the second quarter – the first since the financial crisis due to a fine of 8.9 billion USD. The French bank had to pay US authorities because it ignored the sanctions imposed against Sudan, Cuba and other countries in the 10-year period until 2012. The quarterly net profit rose to 1.5 billion EUR compared to 1.3 billion EUR an year ago and analyst expectations for a positive financial result of 1.576 billion EUR. Revenues increased by 3.9% to 9.54 billion EUR from 9.18 billion EUR realized in the third quarter of the previous year.
Along with other leading French banks, BNP Paribas did well to stress tests conducted by the European Central Bank, the results of which were published last weekend.
