French bank BNP Paribas announced that in the fourth quarter of 2014 its net profit stood at 1,3 billion euros, up sharply from 110 million euros in the same period of 2013 and even better than forecasts by analysts. analysts, stuck at 1,2 billion.
However, the result is conditioned by the fact that BNP had set aside 2013 million in the fourth quarter of 800 for the payment of possible sanctions in the USA, where it was accused of having violated anti-money laundering laws. The French bank therefore closed the dispute last summer, agreeing to pay a maxi fine of 8,97 billion dollars, which means that the profit for the whole of 2014 has actually fallen by 97% to 157 million euros.
In the fourth quarter, however, revenues grew by 7% to 10,15 billion: last quarter Bnp Paribas benefited from the excellent performance of the corporate and investment banking division. Core Tier 1 stood at 31% as of September 10,3st, against 11% as of September 30th. The dividend was confirmed at 1,50 euro per share.
Lastly, Bnp Paribas warned that market conditions have worsened compared to the baseline scenario assumed for the 2014/2016 plan. The lender also expects higher taxes and new regulatory provisions to impact its 500 profit by approximately -2016 million.
