BNP Paribas says first-quarter net income rises 10.1 percent
SINGAPORE – BNP Paribas said net income rose 10.1 percent in the first quarter as lower provisions for bad loans on the back of a gradual economic recovery in Europe helped offset a slump in its corporate and institutional bank, hit by market volatility.
France’s biggest bank posted a quarterly net profit of 1.814 billion euros (1.4 billion pounds), up from 1.648 billion in the year-earlier period, it said on Tuesday. That beat the average forecast of 1.352 billion in a Reuters poll of analysts. -Reuters