BNP Paribas reports good Q2 results

by Richard Kilner

Story link: BNP Paribas reports good Q2 results

French bank BNP Paribas has reported its financial results for the second quarter of 2010.

The bank made quarterly net profits of €2.1bn, an impressive 31.2% more than the €1.6bn net profits of Q2 2009.

However, it was a decline of 7.8% compared to the first quarter profits of €2.2bn.

Revenues rose by 11.8% to €11.2bn, with operating expenses up 10.2% to €6.4bn and gross operating income up 14%.

For the first six months of 2010 revenues totalled €22.7bn, up 16.6% compared to the corresponding period in the previous year.

Operating expenses in the first half of the year fell by 1.4% and gross operating income increased by 2.3%.

In the first two quarters net income surged up by 38.8% to €4.39bn, from €3.2bn in the first half of 2009.