Disposals Boost BNP Paribas 1Q Net Profit

Date : 05/02/2019 @ 6:34AM
Source : Dow Jones News
Stock : Bnp Paribas Act.A (BNP)
Quote : 41.165  0.705 (1.74%) @ 4:39PM
Bnp Paribas share price Chart

Disposals Boost BNP Paribas 1Q Net Profit

Bnp Paribas (EU:BNP)
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2 Months : From Apr 2019 to Jun 2019

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   By Pietro Lombardi 
 

BNP Paribas SA's (BNP.FR) first-quarter net profit rose 22%, boosted by capital gains on some disposals.

Net profit for the period was 1.92 billion euros ($2.15 billion) compared with EUR1.57 billion a year earlier. The sale of 14.3% of SBI Life Insurance Co. (540719.BY)--BNP's Indian joint venture with the State Bank of India--boosted the bottom line, France's largest listed bank by assets said Thursday.

Revenue increased 3.2% on year to EUR11.14 billion.

Analysts had expected a net profit of EUR1.99 billion on revenue of EUR10.74 billion for the period, according to a consensus forecast provided by the bank.

BNP's core Tier 1 capital ratio--a key measure of capital strength-- slipped to 11.7% in March from 11.8% at the end of December.

 

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

 

(END) Dow Jones Newswires

May 02, 2019 01:19 ET (05:19 GMT)

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