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Financials

BNP Paribas beefs up capital buffer after a strong quarter

PARIS, Oct 28 (Reuters) - France’s BNP Paribas increased its capital buffer in the third quarter as it reported on Friday a better-than-expected net profit, boosted by stronger revenue at its investment banking division.

Third-quarter net income rose 3.3 percent to 1.89 billion euros ($2.06 billion). Although analysts in a Reuters poll had estimated on average a fall in the figure to 1.72 billion.

Revenue rose 2.4 percent to 10.59 billion euros, above the poll average of 10.23 billion.

It followed US rivals and Barclays in reporting strong revenues in bond trading. BNP Paribas’ fixed income, currencies and commodities trading revenue rose 41.3 percent to 1.08 billion euros.

$1 = 0.9179 euros Reporting by Maya Nikolaeva and Julien Ponthus; editing by Michel Rose

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