Arab Today, arab today bnp paribas profits surged to €67bn in 2015
Last Updated : GMT 16:56:06
Arab Today, arab today
Arab Today, arab today

BNP Paribas profits surged to €6.7bn in 2015

Arab Today, arab today

Arab Today, arab today BNP Paribas profits surged to €6.7bn in 2015

BNP Paribas's business
Paris - Arab Today

French banking giant BNP Paribas on Friday reported a net profit of 6.7 billion euros for 2015, more than a year after a record fine by US authorities.

The result marks a jump from the 157 million euros ($176 million) reported in 2014, when earnings were hit by the 6.6 billion euro fine by US authorities for breaching embargoes on transactions with some countries, most notably Iran.

But it missed the average analyst forecast of 6.9 billion euros collated by FactSet.

Like many European lenders, BNP Paribas's business has been crimped in recent years by low interest rates, higher taxes and stagnant growth in the eurozone.

Financial markets have made one of their worst starts to the year in living memory in 2016, with stocks and commodities slumping over concerns about the health of the world economy.

Reporting the 2015 results, BNP Paribas CEO Jean-Laurent Bonnafe said: "The group turned out a good operational performance, with revenues increasing in three key areas."

Revenues increased by 9.6 percent to 42.9 billion euros in 2015, slightly higher than analyst predictions, helped by its financial services and investment banking businesses.

Growth in its European markets including France, Italy, Belgium and Luxembourg has been slow, however, where income rose by just 1.6 percent over the year.

The bank is aiming to increase its earnings before tax from investment banking by 1.6 billion euros between 2015 and 2019, equivalent to around a 50 percent rise from last year's results.

It also plans to trim costs in the division by more than one billion euros over the same period, while boosting revenues from its American and Asia-Pacific businesses.

BNP Paribas's capital ratio was 10.9 percent at the end of December, up 0.6 percent from a year earlier.

To meet regulations, the bank must raise that to 11.5 percent by 2019, although it expects to reach that target by the middle of next year after divesting its First Hawaiian Bank.

The bank said it will propose a dividend of 2.31 euros a share at its shareholders in May, compared to 1.50 euros a year earlier.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bnp paribas profits surged to €67bn in 2015 Arab Today, arab today bnp paribas profits surged to €67bn in 2015

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday