BNP Paribas Profit, Revenue Fall in 1Q -- Earnings Review
04 Mayo 2018 - 07:22AM
Noticias Dow Jones
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)
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