4/30, 7:12 AM (Source: TeleTrader)
more TeleTrader news

BNP Paribas Q1 net profit up 38% to €1.77 billion

BNP Paribas S.A. announced on Friday the banking group's net profit in the first quarter of 2021 surged 37.9% to €1.77 billion, beating analyst estimates.

Meanwhile, revenue in the same three-month period also came in above expectations, rising 8.6% to €11.83 billion. BNP Paribas' Corporate and Institutional Banking division jumped 24.3% to €3.6 billion, according to the update.

Commenting on the results, BNP Paribas Chief Executive Officer Jean-Laurent Bonnafe said: "While strengthening its environmental and social commitments and continuing its digital and industrial transformation, the Group relies on its diversified and integrated business model, robust financial structure, and the powerful execution capacity of its platforms to deliver solid results."

Breaking the News / JC