BNP Paribas released its Q1 16 earnings: - Revenues at €10.8bn are 2% higher than expectations (looking at the details though, revenues are positively impacted by accounting one-offs, OVA and DVA). - Expenses at €7.6bn are 1.5% better than forecasts. - Cost of risk at €757m is €237m lower due to €30m of write-backs in the capital markets and much lower loan losses in retail banking and especially in personal finance (at €221m versus €297m expected). Profit b
03 May 2016
Earnings much higher due to lower loan losses
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Earnings much higher due to lower loan losses
BNP Paribas S.A. Class A (BNP:WBO) | 0 0 0.8% | Mkt Cap: 80,389m
- Published:
03 May 2016 -
Author:
Farhad Moshiri -
Pages:
3
BNP Paribas released its Q1 16 earnings: - Revenues at €10.8bn are 2% higher than expectations (looking at the details though, revenues are positively impacted by accounting one-offs, OVA and DVA). - Expenses at €7.6bn are 1.5% better than forecasts. - Cost of risk at €757m is €237m lower due to €30m of write-backs in the capital markets and much lower loan losses in retail banking and especially in personal finance (at €221m versus €297m expected). Profit b