BNP Paribas' second-quarter profits buoyed by corporate and investment banking arm

📆 31/7/2562 16:14:00
📰 CNBC

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BNP Paribas on Wednesday reported a net income of 2.47 billion euros ($2.76 billion) for the second quarter of the year, beating the 2.18 billion euros expected by analysts polled by Reuters.

Net profit during the quarter rose 3.1% to 2.47 billion euros out of 11.22 billion euros in revenues.

BNP Paribas, France's largest bank in terms of assets, on Wednesday said that a strong performance by its corporate and investment banking division had buoyed its profits during the second quarter. The bank attributed its performance to strong growth at its corporate and investment banking unit, which saw its overall revenue during the quarter rise 4% to 3.1 billion euros.

The bank has signed a preliminary agreement with German lender Deutsche Bank to take control of its prime brokerage business in a bid to expand its market share.

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