Bnp Paribas concludes the third quarter with better than expected results and the stock advances to Paris. The profits of the French institution that controls BNL rose beyond expectations, by 2,4% on an annual basis to 1,36 billion euros, mainly thanks to the cut in costs and operating expenses. Revenues, on the other hand, suffered a drop of 4,2% to 9,29 billion.
The Parisian giant reported an increase in Core Tier 1 to 10,8% and announced the estimate for savings by 2015, set at a rate exceeding 2 billion a year. savings of over 2 billion a year by 2015.
The quarterly results, and in particular the unexpected growth in earnings, have catalysed great attention on the share of Bnp Paribas, which in mid-morning recorded an increase of more than 3%, contributing to the good performance of the banking sector at European level.
