The retail banking arm of French lender BNP Paribas has reported pre-tax income of €2.34bn for the second quarter of 2016, down 0.7% from €2.35bn in the prior year.
The unit's quarterly revenues were €7.63bn, a fall of 1.1% from €7.72bn the year ago.
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Operating income at the retail banking division declined 0.1% year-on-year to €2.21bn.
Revenues in the bank's French Retail Banking unit dropped 3.6% to €1.61bn from €1.67bn in the year ago quarter, while net interest income dipped 3.7% to €900m from €935m a year earlier.
Overall, BNP Paribas group registered pre-tax income of €3.52bn for the second quarter of 2016, a fall of 4.3% from €3.68bn in the year-ago quarter.
The banking group’s attributable net income increased to €2.56bn, up 0.2% from €2.55bn in the prior year. Revenues increased 2.2% year-on-year to €11.32bn from €11.08bn.
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By GlobalDataBNP Paribas CEO Jean-Laurent Bonnafé said: “In a complex and changing environment, BNP Paribas delivered again a good performance this quarter thanks to its integrated and diversified business model serving its customers. Revenues of the operating divisions grew, excluding the foreign exchange effect, despite a still challenging context. Operating expenses were stable and the cost of risk was down significantly.
“The Group’s balance sheet is rock-solid and the further increase in the fully loaded Basel 3 common equity Tier 1 ratio to 11.1% testifies the good organic capital generation.”
