Poland's BNP Paribas BP posted a higher-than-expected 43% jump in third-quarter net profit on Friday, supported by strong core revenues and lower provisions for legal risks associated with Swiss franc mortgages.
The market wasn't impressed with BNP Paribas' third quarter results, sending the shares down roughly 5% on the day. Headline income statement figures either matched or beat consensus, but beneath the hood there were some issues. The stock still trades for less than 0.7x tangible book value, and that is too cheap relative to the bank's earnings power.
BNP Paribas SA (OTCQX:BNPQF) Q3 2024 Earnings Conference Call October 31, 2024 9:00 AM ET Company Participants Jean-Laurent Bonnafe - Chief Executive Officer Lars Machenil - Chief Financial Officer Conference Call Participants Tariq El Mejjad - Bank of America Azzurra Guelfi - Citi Giulia Miotto - Morgan Stanley Delphine Lee - JPMorgan Flora Bocahut - Barclays Stefan Stalmann - Autonomous Resea...
France's top two banks saw their share prices take rival trajectories on Thursday as Société Générale shares surged on news of a management shakeup while BNP Paribas shares slipped on a mixed set of financial results
BNP Paribas reported a rise in third-quarter earnings that was in line with market expectations, as growth in its investment bank offset softness in its domestic retail business.
BNP Paribas said on Thursday that increased trading activity at its investment banking division helped it meet profit forecasts in the third quarter, after its consumer finance and car-leasing businesses disappointed.
Die französische Großbank BNP Paribas FR0000131104 hat im dritten Quartal dank guter Geschäfte an den Finanzmärkten und mit Großkunden mehr verdient.
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