PARIS (Finance) – BNP Paribas profits fell by 33.1% in the first quarter with the coronavirus crisis hitting equity trading prompting the eurozone’s biggest bank to set aside over half a billion of euros in loan provisions.
BNP Paribas’ net income fell to 1.28 billion euros ($1.40 billion) in the quarter, while revenue dropped 2.3% to 10.9 billion euros.
BNP Paribas would “amplify the initially planned decrease in operating expenses” and released warning that its 2020 net income could be about 15% to 20% lower than in 2019.
(Photos syndicated via Reuters)
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