French bank BNP Paribas SA in the third quarter increased net profit by 6.1%, revenue – by 5.3%, while both indicators were worse than market expectations.
According to the bank’s press release, net profit totalled EUR3.04bn in July-September, up from EUR2.87bn in the same period last year.
Revenue rose to EUR12.57bn from EUR11.94bn a year earlier.
Analysts, whose consensus forecast was quoted by the bank itself, on average estimated BNP Paribas’ net profit at EUR3.09bn on revenues of EUR12.8bn.
Expenses in the third quarter rose by 5.5% to EUR7.61bn, with charges to cover potential credit losses rising to EUR905m from EUR728m a year earlier.
BNP Paribas management still expects net profit to exceed EUR12.2bn in 2025.
BNP Paribas’ capitalisation has increased by 16.8% since the beginning of this year, to EUR77.18bn.