Total income of €11.3bn was 4.5% higher than consensus and 7% higher than our expectations.
Total expenses were therefore mechanically higher at €8.12bn, a respective 1.7% and 1.4% above the consensus forecasts and our own.
Loan losses were even lower than expected at €592m (versus €814m for the consensus and €878m for AV). The profit before tax was therefore 30% higher than consensus and 50% above AV.
The CET1 ratio at 11.6% was 10bps higher QoQ while the leverage ratio was 30bps lower at 4. ....
03 May 2017
Strong revenues in the CIB and low loan losses still helping...
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Strong revenues in the CIB and low loan losses still helping...
BNP Paribas S.A. Class A (BNP:WBO) | 0 0 0.8% | Mkt Cap: 80,389m
- Published:
03 May 2017 -
Author:
Farhad Moshiri -
Pages:
3
Total income of €11.3bn was 4.5% higher than consensus and 7% higher than our expectations.
Total expenses were therefore mechanically higher at €8.12bn, a respective 1.7% and 1.4% above the consensus forecasts and our own.
Loan losses were even lower than expected at €592m (versus €814m for the consensus and €878m for AV). The profit before tax was therefore 30% higher than consensus and 50% above AV.
The CET1 ratio at 11.6% was 10bps higher QoQ while the leverage ratio was 30bps lower at 4. ....