BNP Paribas q1 2021 earnings
Analysts had forecast a web revenue of 1.2 billion euros for the quarter, in accordance with Refinitiv.
The French financial institution reported robust outcomes from its funding banking division, the place revenues have been up nearly 25% from a 12 months in the past.
“It is a quarter the place principally all lights are inexperienced,” Lars Machenil, CFO of BNP Paribas, advised CNBC’s Charlotte Reed Friday.
“We have principally been elevating greater than 100 billion euros in financing. And this can be a stage of exercise, which is best than what we noticed in 2020 — it is even higher than what we noticed in 2019. So that’s fairly good,” Machenil added.
Different highlights for the quarter:
- Revenues hit 11.8 billion euros versus 10.8 billion on the finish of 2020.
- Working bills rose 13.7% from the earlier quarter.
- CET 1 ratio, a measure of financial institution solvency, stood at 12.8% unchanged from the earlier quarter.
Income from fastened revenue, currencies and commodities buying and selling fell, nonetheless, by nearly 16% from a 12 months in the past
“The fastened revenue half, with regards to charges, is a bit decrease in comparison with the excessive stage a 12 months in the past, however then the equities are … doing very nicely. So we see that our CIB (company and institutional banking) as an entire, as a diversified method, is actually rising on all cylinders, and rising quarter after the quarter,” Machenil harassed.
Shares of BNP Paribas are up about 23% year-to-date.