BNP Reports Increase in Profit on Investment Bank
(Bloomberg) -- Lars Machenil, chief financial officer at BNP Paribas SA, talks about the bank's first-quarter earnings, risks to global financial markets and BNP's acquisition strategy. BNP Paribas is France's largest bank. Machenil speaks with Bloomberg's Caroline Connan in Paris. (Source: Bloomberg)
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BNP Paribas SA, France’s biggest bank, reported higher first-quarter profit as the euro’s decline helped boost earnings at its corporate and investment bank.
Net income rose to 1.65 billion euros ($1.85 billion) from 1.4 billion euros a year before, the Paris-based bank said on Thursday. Earnings beat the 1.38 billion-euro average estimate of eight analysts surveyed by Bloomberg.