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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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.23 | 0.32% | 71.75 | 71.60 | 71.92 | 72.04 | 71.48 | 71.67 | 1,803,259 | 02:01:48 |
By Pietro Lombardi
BNP Paribas SA (BNP.FR) reported on Friday a decline in first-quarter revenue and earnings. "Results recorded an unfavorable exchange rate effect as well as the impact of a lackluster market context compared to the first quarter of last year," it said. Here's what you need to know:
PROFIT: France's largest listed bank by assets said its first-quarter net profit fell 17% to 1.57 billion euros ($1.88 billion). Analysts expected BNP to report a net profit of EUR1.45 billion for the quarter, according to a consensus forecast provided by FactSet.
REVENUE: BNP first-quarter revenue, at EUR10.80 billion, missed expectations of EUR11.04 billion, according to FactSet.
WHAT WE WATCHED
CORPORATE AND INSTITUTIONAL BANKING: "CIB operated this quarter in a lackluster market environment in Europe compared to the first quarter 2017," the bank said. Revenue declined 9.8%. It was a difficult quarter for the bank's corporate and institutional banking business, UBS said.
OTHER DIVISIONS: The bank's international financial-services business reported a 3.9% increase in revenue, while revenue at BNP's domestic-markets division rose 0.3%.
"Mixed quality of results as expected, however, the corporate-loan growth acceleration gives some reassurance of future earnings," said Jefferies.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
May 04, 2018 08:07 ET (12:07 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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