HALISTER: BNP 1Q Net Rises on Lower Loan-Loss Provisions, Beats Estimate

BNP 1Q Net Rises on Lower Loan-Loss Provisions, Beats Estimate

(Bloomberg) -- BNP Paribas 1Q net income EU1.81b vs est. EU1.26b and EU1.65b year earlier,
  • Loan-loss provisions EU757m vs EU1.04b year earlier
  • CIB pretax income EU403m vs EU885m year earlier
  • Client business at Global Markets recovered at end-1Q
  • 1Q FICC rev. down 13% excluding FVA vs year ago, Equity and Prime Services rev. down 41%
  • BNP booked EU365m revenue gains from own debt in 1Q
  • FL CET1 11% end-March vs 10.9% end-Dec.
  • PREVIEW here
  • Related
    • BNP Paribas is trading on 7.6x next year’s earnings vs 9x for Stoxx 600 Banks index: Bloomberg data
    • Stock is down 12% YTD vs a 17% fall in the SX7P index
Alert: HALISTER
Source: BFW (Bloomberg First Word)

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BNP FP (BNP Paribas SA)

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