BNP Paribas (EU:BNP)
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1 Year : From Jul 2018 to Jul 2019
By Pietro Lombardi
BNP Paribas SA (BNP.FR) said Tuesday that its third-quarter net profit rose on year, boosted by a capital gain on the sale of 30.3% of First Hawaiian Inc. (FHB) and lower corporate income tax that offset a drop in operating income.
France's largest listed bank by assets reported a roughly 4% increase on year in net profit to 2.12 billion euros ($2.41 billion).
Revenue fell to EUR10.35 billion compared with EUR10.39 billion a year earlier.
The net profit surpassed analyst expectations of EUR2.07 billion, according to a consensus forecast provided by FactSet. Revenue was expected to be EUR10.52 billion.
Lower revenue and higher operating expenses contributed to a 7.9% decline in operating income.
The French bank reported a EUR286 million capital gain in the quarter from the sale of the stake in First Hawaiian bank.
BNP's core Tier 1 capital ratio--a key measure of capital strength--rose to 11.7% in September from 11.5% in June.
Write to Pietro Lombardi at firstname.lastname@example.org
(END) Dow Jones Newswires
October 30, 2018 02:22 ET (06:22 GMT)
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