BNP Paribas reports Q2 results
by Richard Kilner
Story link: BNP Paribas reports Q2 results
French bank BNP Paribas has reported its financial results for the second quarter of the year.
The bank made net profits of €1.6bn, a rise of 6.6% compared to Q2 2008 and 3% compared to Q1 2009.
Group revenue was just shy of €10bn, 32.9% more than the corresponding quarter last year.
For the first six months of the year revenues stood at €19.5bn, a rise of 30.6% compared to the first half of last year.
Although operating expenses rose by 19.9% gross operating income soared by 56.7% to €4.2bn.
In the first half of the year BNP Paribas made net income of €3.2bn, down 9.3% on the same period in the previous year.
The bank has described its performance as very good, given the challenges of the operating environment, and stated that the results indicate the strength of its integrated banking model.
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