BNP Paribas Profit Fall

Although profits were down compared to the same period last year, the net profit of $930m was at the higher end of expectations and demonstrates that the bank is performing better than some of its competitors in these most difficult of times. Costs cutting and a robust domestic retail market helped push up the figures.

Provisions rose to $274m in the period. Retail profits came out at $579m, the highest ever in a quarter. Corporate and investment banking net revenues dipped 25% to $455m.