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BNP Paribas' Q1 Profit Increase Powered By Trading Rebound

BNP Paribas reported a 4.4 per cent rise in quarterly profit, boosted by strong fixed income and equities trading, which helped offset weak retail banking where revenues fell

Photo Credit : Reuters

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BNP Paribas reported a 4.4 per cent rise in quarterly profit, boosted by strong fixed income and equities trading, which helped offset weak retail banking where revenues fell.

France's biggest bank said on Wednesday (03 May) that net income rose to €1.89 billion ($2.1 billion) in the first quarter from €1.81 billion a year earlier. This beat the average of four analyst estimates of €1.6 billion in a Reuters poll.

The results came after French banks enjoyed a stock market rally following the first round of the French presidential election that bolstered investors' projections that Emmanuel Macron, seen as a business-friendly candidate, would eventually win.

(Reuters)


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