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BNP Paribas: La continuité dans les changements
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BNP Paribas warned investors on Friday that a debt-trading bonanza that supported its earnings last year was unlikely to last, though the worst of the global coronavirus crisis was over for its loan book. Provisions linked to the Covid-19 pandemic took their toll on fourth-quarter net profit, with the lender saying it had set aside more money to cover loans that could turn sour. But the eurozone s biggest listed bank struck a more upbeat note for 2021. It said it expects the cost of risk, which reflects provisions for bad loans, to drop from 2020 levels as the outlook improves in the second half.
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PARIS (Reuters) - BNP Paribas warned investors on Friday that a debt-trading bonanza that supported its earnings last year was unlikely to last, while signalling that the worst of the global coronavirus crisis was over for its loan book.
FILE PHOTO: The BNP Paribas logo is seen at a branch in Paris, France, February 4, 2020. REUTERS/Benoit Tessier/File Photo
Charges linked to the COVID-19 pandemic took their toll on fourth quarter net profit at BNP Paribas, which said it had set aside more provisions for loans that could turn sour.
But the eurozone’s biggest listed bank struck a more upbeat note for 2021, saying it expected its cost of risk, which reflects provisions for bad loans, to drop compared to 2020 as the outlook improves in the second half.