Disposals Boost BNP Paribas 1Q Net Profit
May 02 2019 - 1:34AM
Dow Jones News
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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