Arab Today, arab today bnp paribas surprises with profit boost
Last Updated : GMT 18:45:04
Arab Today, arab today
Arab Today, arab today

BNP Paribas surprises with profit boost

Arab Today, arab today

Arab Today, arab today BNP Paribas surprises with profit boost

Paris - AFP

French bank BNP Paribas more than doubled net profit in the third quarter to 1.32 billion euros ($1.7 billion), beating expectations, but this was partly because the comparable results last year were relatively weak, the group said in a statement on Wednesday. Net profit surged by 144 percent, but this was compared with the third quarter of last year when the bank made extra write-downs totalling 2.09 billion euros on its holdings of Greek debt. An exceptional item this time round was a revaluation of debt by the bank to reflect an improvement in market conditions, which set the results back by 774 million euros. This was matched in part by a difference between the purchase price and book value of assets in Fortis bank as a result of unexpectedly early repayments, which contributed 427 million euros. The net outcome was higher than expected by analysts polled by Dow Jones Newswires who had expected a figure of 1.25 billion euros. All divisions contributed to an improvement of operating profit. But the bank reported a slowing of performance in France, its home market, owing to less demand for loans, and also in Italy. But business in the Netherlands, in southern Europe and at the US subsidiary BancWest partly compensated for this. The group said that bad risks on the books of its retail banking arm were under control. The investment banking arm was doing well in the areas of interest rates, shares and consultancy which countered the effects of a reduction of the financing division under a restructuring programme. The group said that at the end of September it had a ratio of core capital to risks underwritten of 9.5 percent under the new so-called Basel III prudential regulations: the regulations introduced to strengthen banks after the financial crisis and which become fully effective in 2018. The bank said it had therefore exceeded its target of 9.0 percent for this year. It had also completed its plan for reducing the exposure of its financing and investment arm by 45 billion euros.

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 surprises with profit boost Arab Today, arab today bnp paribas surprises with profit boost

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Turkey says ends its military operation

GMT 07:53 2017 Thursday ,30 March

Turkey says ends its military operation
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people

GMT 11:45 2017 Wednesday ,29 March

Bahrain to host FinTech Forum2017

GMT 11:42 2017 Wednesday ,29 March

Banking sector's role praised

GMT 19:27 2017 Tuesday ,28 March

US dollar exchange rate stable in morning trading

GMT 20:39 2017 Monday ,27 March

Brexit among financial stability risks for UK

GMT 19:51 2017 Monday ,27 March

Goldman Sachs in talks for Saudi licence
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today 'Underwater wasteland' worries

GMT 10:32 2017 Thursday ,30 March

'Underwater wasteland' worries
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Mercedes, VW recall million vehicles in China

GMT 09:16 2017 Wednesday ,29 March

Mercedes, VW recall million vehicles in China
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Singer Rowida Attiya will issue a new song

GMT 07:38 2017 Tuesday ,28 March

Singer Rowida Attiya will issue a new song
Arab Today, arab today Trump moves to roll back Obama climate measures

GMT 08:39 2017 Wednesday ,29 March

Trump moves to roll back Obama climate measures

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 07:50 2017 Thursday ,30 March

Breaking trans barriers one barbell

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
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