BNP Paribas misses Q4 market expectations

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France Nouvelles Nouvelles

France Dernières Nouvelles,France Actualités

France's BNP Paribas has posted a lower-than-expected net profit in the fourth quarter, as a jump of its cost of risk and higher operating expenses offset a boom in its trading sales.

The bank, however, raised its 2025 targets and announced a €5 billion share buyback programme in 2023.

Exceptional operating expenses on restructuring costs and IT reinforcement also weighed on fourth-quarter earnings, the bank said. The solvency ratio has notably benefited from the sale of the group's US retail business Bank of the West for $16.3 billion.

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France Dernières Nouvelles, France Actualités