BNP Paribas has a good first quarter
(5 May 2011 – Europe)BNP Paribas Group recorded high revenues in the first quarter of 2011, driven by sustained business across all operating divisions which totalled €11.685 million, (A$16.737 million) up 1.3 percent from 2010.
The bank attributed much of the earnings to exceptional performance in the Capital Markets businesses.
At €6.7 million, operating expenses were up 2 percent compared to the first quarter of 2010, this was due largely to the introduction in 2011 of systematic taxes that were passed onto business units.
BNP posted net profits attributable to equity holders of €2.6 million, up 14.6 percent compared to the first quarter 2010, the annualised return on equity was 15.1 percent compared to 14.4 percent in the first quarter 2010.
At €919 million, or 54 basis points of outstanding customer loans, the Group’s cost of risk continued its decline in an improved global economic environment.
It was down by €418 million compared to the first quarter of 2010 At €34.1 billion, doubtful loans declined by €1.5 billion since the end of December.
At €6.7 million, operating expenses were up 2 percent compared to the first quarter of 2010, this was due largely to the introduction in 2011 of systematic taxes that were passed onto business units.
BNP posted net profits attributable to equity holders of €2.6 million, up 14.6 percent compared to the first quarter 2010, the annualised return on equity was 15.1 percent compared to 14.4 percent in the first quarter 2010.
At €919 million, or 54 basis points of outstanding customer loans, the Group’s cost of risk continued its decline in an improved global economic environment.
It was down by €418 million compared to the first quarter of 2010 At €34.1 billion, doubtful loans declined by €1.5 billion since the end of December.
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