The retail banking arm of French lender BNP Paribas has posted a pre-tax income of EUR2.38bn for the second quarter of 2015, a 15% increase from EUR2.07bn in the same period last year.
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For the quarter ended 30 June 2015, the unit’s revenues were EUR7.76bn, a 10.91% rise from EUR6.99bn in the corresponding quarter of 2014.
The division’s operating income stood at EUR2.25bn, an increase of 14.18% compared to EUR1.97bn a year ago.
The bank’s French Retail Banking (FRB) unit revenues were down by 2% to EUR1.68bn compared to the prior year quarter, while net interest income dipped 5.9% due to the impact of persistently low interest rates.
Overall, the group’s net income attributable to equity holders was EUR2.56bn for the second quarter, compared to a loss of EUR4.22bn a year earlier. Revenues saw a 15.8% rise year-over-year to EUR11.08bn.
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By GlobalDataBNP Paribas CEO Jean-Laurent Bonnafé said: "With nearly 2.6 billion euros in net income, BNP Paribas had a very strong performance this quarter. Revenues were up in all the operating divisions with continued increase in the domestic markets and strong growth in the specialised businesses, retail banking outside the Eurozone and the large client businesses.
"The Group’s balance sheet is rock-solid and the significant rise of the fully loaded Basel 3 common equity Tier 1 ratio to 10.6% is evidence of its solid organic capital generation."
