BNP Paribas performs better than expected despite higher costs
Increased trading revenues have brought the major French bank an unexpectedly high profit. in the Period July to September rose that net result by 10.3 percent 2.76 billion euros, as the money house announced on Thursday. Analysts had expected 300 million euros less. the revenue grew by eight percent 12.3 billion euros. The turbulence on the financial markets played into the hands of BNP Paribas Trading revenue up 14.7 percent let.
However, the bank also had to Write-downs on unsold positions make. the operational costs rose due to higher IT expenses and the restructuring of the group by six percent. In Poland, BNP had to write off 200 million euros. As with Commerzbank, the reason was the changed legislation in Poland, which allows borrowers to suspend their monthly installment payments for mortgage loans several times.