BNP Paribas (BNPP) has
posted a net profit of €2.62bn ($3.89bn) for the three months
to 31 March, an increase of 14.6% from the same period a year
ago.

Pre-tax profit at BNPP’s
retail division increased by 25.2% year-on-year to
€1.6bn.

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Retail banking first
quarter highlights included:

  • BNPP’s French retail banking unit posted
    €579m in pre-tax income, up 14.2% compared to the same quarter a
    year earlier;
  • French retail deposits increased by 10.8%
    to €111.2bn;
  • French retail lending was up 8.4%
    year-on-year to €75.3bn;
  • French retail online banking customers
    increased to 2.2m users; the digital unit Net Agence
    signed up over 10,000 customers in its first year of
    operation;
  • Italian-based unit BNL banca commerciale
    recorded pre-tax income of €136m, up 10.6% from the corresponding
    quarter last year, and
  • BNL’s branch network increased to 920
    outlets, a 25% increase or 181 net new branches compared with 2007;
    BNL has targeted a network of 1,000 units by 2013;
  • In the US, BancWest’s pre-tax profit
    soared by 74% to €167m, and
  • Pre-tax income increased by 62.3% to
    €297m at BNPP’s consumer finance unit.

Less positive was a 3.8%
decline in pre-tax income at BNPP’s Belgian-focused BeLux retail
banking unit to €227m.

At group level, BNPP’s
cost-income increased by 40 basis points year-on-year to
57.6%.

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