The accounts of Bnp Paribas rebound. The first European bank by capitalization, which also controls the Italian BNL, closed the first quarter with a net profit of 1,79 billion euros, or almost 38% more than a year ago, when just before the outbreak of the pandemic it had stopped at 1,28 billion. Above all, the data significantly beat the expectations of analysts, who predicted a profit between 1,15 and 1,59 billion. Pre-tax profit even soared to 2,823 billion euros (+57,3% on the first quarter of 20209 and +5,2% on the first quarter of 2019).
As of March 31, 2021, the Common Equity Tier 1 ratio stands at 12,8%, a stable level compared to 31 December 2020. The revenues, at 11.829 million euros, increased by 8,6% compared to the first quarter 2020 (+12% at constant scope and exchange rates). It therefore stands at a higher level than in the first quarter of 2019 (+6,1%). The French group's operating expenses, at 8.597 million euros, were up by 5,4% compared to the first quarter 2020. Bnp's gross operating income therefore came to 3.232 million euros, a considerable increase of 18,3 .2020% compared to the first quarter of 19,9 and 2019% compared to the first quarter of XNUMX.
Finally, the transalpine bank communicated that it had collected over 112 billion euros in financing for its customers on the syndicated credit, bond and equity markets, with an increase of 21% compared to the first quarter of 2020. The quarterly report of the Italian subsidiary BNL Banca Commerciale also did well, generating a pre-tax profit of 97 million euros, a considerable increase (+53,3%) compared to the first quarter of 2020. Loans are up by 5,4% compared to the first quarter of 2020 and up by 7,2% net of non-performing loans.
Gross operating income amounted to 217 million euros, an increase of 11,8% compared to the first quarter of 2020. Deposits were up by 18,8% compared to the first quarter of 2020. Indirect deposits increased by 14,3 .31% compared to 2020 March XNUMX, mainly thanks to the market trend. Bnl was present in the Covid emergency: it has disbursed almost 700 million euro of new guaranteed loans by the Italian State and by SACE.
