BNP Paribas Surprises by Posting Quarterly Profit
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BNP Paribas, the largest French bank, said net income came in at 1.8 billion euros, or $2.1 billion, up 10 percent compared with the same period a year earlier. CreditDenis Balibouse/Reuters
PARIS — BNP Paribas, the largest French bank, said on Tuesday that its profit rose in the first three months of the year, even as revenue fell in “a particularly unfavorable environment.”
The lender, based in Paris, said net income came in at 1.8 billion euros, or $2.1 billion, up 10 percent compared with the same period a year earlier. The results were bolstered by a 28 percent reduction in the funds it set aside for loan losses. Without those one-time adjustments, it said, net income would have been just 4 percent higher, at €1.6 billion…
BNP Paribas Surprises by Posting Quarterly Profit
