The big French bank BNP Paribas got through the Corona summer surprisingly well thanks to strong trading business and less concern about loans at risk.
In the third quarter, the institute earned around 1.9 billion euros, 2.3 percent less than a year earlier, as it announced in Paris on Tuesday. Analysts had expected on average a higher risk provision for loan defaults, declining income and therefore less profit.
BNP Paribas kept its income at just under 10.9 billion euros at the level of the same period in the previous year. In addition, the bank set aside a further 1.25 billion euros for impaired loans. In the first nine months of the year it put a total of 4.1 billion euros into risk provisioning, around 84 percent more than a year earlier. The management sees the bank prepared to pay a dividend for the current year, provided that the European banking supervisors lift the dividend freeze imposed due to the corona crisis. Then half of the annual profit could flow to the shareholders.
/ stw / stk
PARIS (international awp)
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