BNP Paribas has reported a surge in trading revenue, helping France’s biggest banks beat third quarter expectations.
For the three months ending September, lenders saw their net profit fall 2.3% to 1.9 billion euros (£1.7 billion), surpassing their expectations of 1.5 billion euros.
End-of-payment profit from the Global Market Unit surged 67% to 648 million euros, while the group’s overall revenues remained relatively flat at 1.089 billion euros.
Chief Executive Jean-Laurent Bonnafé commented: “In an economic context characterized by a range of dynamics across regions and sectors, BNP Paribas demonstrates its high resilience thanks to its economic solidity, diversification and the platform’s execution capabilities.
“I would like to honour the tireless efforts of all the teams who have supported our clients, helping accelerate the economy and its ecological transition.
“The group continues to pursue its actions, its commitment to solidarity and its contribution to mitigating the impact of this crisis as much as possible. In these extraordinary times, BNP Paribas continues to adapt to its environment, organize its activities to support clients while protecting its employees, and focuses on the success of a robust and sustainable economy across all regions.”
BNP Paribas stocks (FRA: BNP) rose 5.35% in morning trading.
