French bank BNP Paribas reported net profit for the quarter that exceeded analysts’ estimates, thanks to lower forecasts for the pandemic, and added that it expects net profit to grow by more than 7% each year until 2025.
Introducing a new strategic roadmap for 2025, the eurozone’s largest listed bank also said it expects revenue to grow by 3.5% year-on-year over the same period.
In the corporate and investment banking unit, the bank aims at an annual growth of almost 3% on average from 2022 to 2025.
In the fourth quarter of last year, BNP Paribas announced an increase in net profit by 44.9% compared to the previous year to 2.31 billion euros compared to estimates for 2.03 billion euros.
Revenue rose 3.7% to 11.23 billion euros, slightly lower than estimates for 11.37 billion euros.
Source: Capital
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