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Share Name | Share Symbol | Market | Type |
---|---|---|---|
BNP Paribas | EU:BNP | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.27 | 0.40% | 67.99 | 67.96 | 67.98 | 68.49 | 67.65 | 68.30 | 501,010 | 11:43:26 |
By Cristina Roca
BNP Paribas SA on Friday posted higher-than-expected net profit and revenue for the third quarter, and announced a new share-buyback program.
The Paris-based lender will buy back 900 million euros ($1.05 billion) worth of its shares starting Nov. 1. The program will run no later than Feb. 8, when the bank will present its new strategy along with its 2021 results.
Third-quarter net profit came in at EUR2.5 billion, up from EUR1.89 billion a year earlier and ahead of analysts' expectations of EUR2.29 billion, according to a FactSet consensus estimate.
The bank's bottom line was helped by lower loan-loss provisions, which came in at EUR706 million, down from EUR1.25 billion in the same period a year ago when banks were still preparing for potentially huge losses on loans to consumers and businesses due to the pandemic.
Revenue rose to EUR11.4 billion from EUR10.89 billion a year earlier. It had been expected at EUR11.25 billion, according to FactSet.
BNP's common equity Tier 1 ratio--a key measure of capital strength--stood at 13% as of Sept. 30, compared with 12.9% at the end of June.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
October 29, 2021 01:25 ET (05:25 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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