BNP Beats Expectations, Boosted by Strong Trading Business -- Earnings Review
November 03 2020 - 2:43AM
Dow Jones News
By Pietro Lombardi
BNP Paribas SA released results for the third quarter Tuesday.
Here is what you need to know.
NET PROFIT: France's largest-listed bank by assets said net
profit declined by just 2.3% to 1.89 billion euros ($2.20 billion),
beating analysts' expectations of EUR1.54 billion, according to a
consensus provided by FactSet.
REVENUE: Revenue was roughly stable at EUR10.89 billion, also
above expectations.
WHAT WE WATCHED:
-INVESTMENT BANK: Global markets revenue rose almost 32% on
year, with fixed-income revenue up 36%.
-PROVISIONS: BNP, one of Europe's largest banks, set aside
EUR1.25 billion for potential loan losses. This is 47% more than
the same period last year but less than it socked away in the
second quarter.
-CAPITAL: BNP's core Tier 1 capital ratio--a key measure of
capital strength--was 12.6% at the end of September, up from 12.4%
in June.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com;
@pietrolombard10
(END) Dow Jones Newswires
November 03, 2020 02:28 ET (07:28 GMT)
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