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Trading powers BNP Paribas profit, lifts expectations for other banks

Net income rose to 1.89 billion euros ($2.1 billion), beating the average estimates

Reuters  |  Paris 

Profit at BNP Paribas rose by more than forecast in the first quarter, driven by fixed income and equities trading and raising expectations of a similar performance by rivals such as Societe Generale. France's biggest bank said on Wednesday first-quarter net income rose to 1.89 billion euros ($2.1 billion), beating the average profit estimate of 1.6 billion in a Reuters poll and lifting its shares by 0.5 per cent, while SocGen rose 1.3 per cent and Credit Agricole 0.9 per cent. "There was a good performance in the investment banking division and a positive surprise ...

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First Published: Wed, May 03 2017. 15:49 IST
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