BNP Paribas reports higher-than-expected third-quarter profit and revenue

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BNP Paribas SA said on Thursday it beat market expectations in the third quarter as its investment banking division proved resilient amid strong customer demand.

The French lender revealed that net income in the three months to the end of September rose to 2.76 billion euros, from 2.50 billion euros in the same period a year earlier.

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The result beat expectations for net profit to fall to 2.37 billion euros, according to analyst consensus provided by FactSet.

Revenue rose 8% to 12.31 billion euros, the Paris-based company said, surpassing the consensus 12 billion euros.

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Revenue from the corporate and institutional banking segment – ​​which aggregates its investment banking operations – increased 5.9%, driven by its global markets division and a resilient global banking unit, despite what BNP Paribas described as an unfavorable market. .

Source: CNN Brasil

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