BNP Paribas Beats as Fixed-Income Traders Offset Equities Slump
(Bloomberg) -BNP Paribas SA received a support from the French lender’s fixed income traders, while the US tariff announcements decreased in the volatility triggered by the US tariff announcements, as they received a better profit than expected, as they received a support from fixed income traders.
BNP Paribas said in a statement on Thursday, defeating the estimates as well as Wall Street, debt securities and currencies income increased by 27% compared to the previous year, he said. Stock revenue decreased by 15%, which is a definite contrast with double -digit gains in the largest US companies.
The figures reflect a whipping market in April when tariff announcements cause severe fluctuations in stocks and dollar. Jean-Laurent Bonnefe, CEO, CEO, who established the trade business and pushed the asset management unit to the top of AXA SA, to the top, is expected to exceed € 12.2 billion (€ 14.4 billion) that the appearance of the rest of the year is now “encouraging”.
BNP Paribas, which also confirms its goals for 2026, provided a number for the year. Analysts previously expected 12 billion € profit all year round. In the second quarter, net income fell less than 4%than expected, reflecting a higher tax rate.
The lending shares won 33% this year in line with an index for European banks.
After renewing trade and asset management units and gaining a new era in May, Bonnafe is now focusing on increasing profitability in the large local retail network. Bloomberg plans to close about 80 branches and the next 120 branches this year in France.
Last year, the Bank, Isabelle Loc, to carry out the struggling business to increase gains between head winds, such as local regulations and protection from expensive interest rate risk.
Income in the commercial and personal banking unit containing this business increased by approximately 5% compared to the previous year, while the income from private enterprises such as car rental fell by 7%. This reflected the effect of more softened automobile prices that should start to fade in the next quarter.
Investment and protection services reported an increase of 11% of 4.4% higher income and activity profit. The unit includes the asset management business, which Bonnafe expanded with the recently closed € AXA agreement.
The acquisition was the greatest CEO’s largest so far and created one of the best asset managers in Europe, which has more than 1.5 trillion asset management. However, an arrangement plan known as the Denmark compromise to make the agreement financially more attractive was met with opposition from the European Central Bank.
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