May 5, 2020 / 5:05 AM / a month ago

BNP Paribas profit falls 33% on expected loan losses, equity trading hit

PARIS, May 5 (Reuters) - Profits at BNP Paribas fell by 33.1% in the first-quarter as the coronavirus crisis hit equity trading and prompted the eurozone’s biggest bank to set aside more than half a billion of euros in loan provisions.

Net income fell to 1.28 billion euros ($1.40 billion) in the quarter, while revenue fell 2.3% to 10.9 billion euros.

BNP Paribas said it would “amplify the initially planned decrease in operating expenses” and warned that its 2020 net income could be about 15% to 20% lower than in 2019.

$1 = 0.9171 euros Reporting by Maya Nikolaeva; Editing by

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below