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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