BNP Paribas Posts Higher 2Q Profit and Revenue After Booking Lower Provisions
30 Julio 2021 - 12:30AM
Noticias Dow Jones
By Olivia Bugault
BNP Paribas SA said Friday that second-quarter net profit and
revenue rose as it booked lower provisions to cover credit losses,
while it will distribute another dividend.
France's largest listed bank by assets posted net profit for the
period of 2.91 billion euros ($3.45 billion), up from EUR2.30
billion a year earlier and beating expectations of EUR2.46 billion,
according to a consensus provided by FactSet. Revenue edged up 0.9%
to EUR11.78 billion, it said.
Its investment-bank division posted lower revenue, with global
markets revenue down 17% and corporate banking revenue 1.6% lower.
Though lower compared to 2020, revenue at the division was up 20%
compared with the same period in 2019, it said.
The Paris-based lender set aside EUR813 million for potential
loan losses, 44% less than during the same period last year.
BNP's common equity Tier 1 ratio--a key measure of capital
strength--was 12.9% at the end of June.
The bank said it will propose an ordinary dividend of EUR1.55 a
share in cash at its general meeting on Sept. 24 that comes in
addition to a previous dividend of EUR1.11 a share paid in May.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
July 30, 2021 01:23 ET (05:23 GMT)
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