BNP Paribas reported 10,885 million euros revenues in Q3, up 2.1% at constant scope and exchange rate, but 0.1% lower than Q3 2019 results at historical scope and exchange rates, according to the company’s press release. Net earnings were 1.89 billion euros, up from expected 1.46 billion euros. BNP’s diversification in key business, region, and sectors backed its performance despite the health conditions.

  • BNP operating division’s revenues increased 1.7%, while gross operating income rose 7.9%, but domestic markets were down 0.6%. 
  • International Financial Services fell 7.2% due to the health crisis’s impacts, which was marginally offset by performances in BancWest and Asset Management. 
  • Corporate and Institutional Banking revenues rose 17.4%.
  • Gross operating income was 2,503 million euros, down 4.8%, while pre-tax income was 2,681 million euros, down 4.8% from the comparable quarter of 2019.
  • Operating expenses were 7.14 billion euros, down 3.8% year over year basis.
  • CET1 ratio was 12.6%, up from 12.4%, while return on tangible equity was 8.2%, down 10.3% quarter over quarter basis.

BNP Paribas stock is gaining. BNP is up 6.60%