BNP Paribas announces third quarter results

by Richard Kilner

Story link: BNP Paribas announces third quarter results

French bank BNP Paribas has reported it made net profits of €1.3bn in the third quarter.

This marks a substantial improvement on the third quarter of last year, with profits up by 44.8%, but is slightly down on the Q2 2009 net profits of €1.6bn.

Revenues were up by 40% from Q3 2008 to €10.7bn, and gross operating income rose by 55% to reach €4.6bn.

Expenses were also up, standing at €6bn, a rise of 30%.

For the first nine months of the year revenues were €30bn, a rise of a third on the revenues of the same period in 2008.

Chief Executive Officer Baudouin Prot has said that the bank’s business model combined diversity with integration and was therefore robust during a time of economic difficulty.