BNP Paribas Plans 20% Salary Raise for Its COOs bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
(Bloomberg) The man who runs the bank widely seen as the European champion-in-waiting has all he needs to take center stage with a major merger.Most Read from BloombergPutin Blasts Wagner ‘Traitors’ as Prigozhin Defends RevoltStudent Loan-Relief Backers Warn Biden ‘Failure Isn’t an Option’The 10 Worst US Airports for Flight Disruptions This SummerRussia Latest: Putin Says Mutiny’s Organizers Sought to DividePutin Faces Historic Threat to Absolute Grip on Power in RussiaJean-Laurent Bonnafe ha
BNP Paribas aims high in equities trading push ifre.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ifre.com Daily Mail and Mail on Sunday newspapers.
(Bloomberg) BNP Paribas SA relied on lower provisions for bad loans and a resurgence of its equities business to boost earnings as its fixed-income traders missed out on a global rally.Revenue from buying and selling fixed-income securities, currencies and commodities slumped 17% in the first quarter, compared with a gain of the same size at the biggest Wall Street banks. But in a reversal from a year earlier, equities trading more than offset those declines as it rebounded from steep losses on complex derivatives. The business of advising on stock and bond issuance also benefited from a surge in demand.While profit beat analysts’ estimates as the bank set aside less than expected for souring loans, the uneven trading results highlight the challenge for Chief Executive Office Jean-Laurent Bonnafe ask he seeks to boost revenue at the markets unit. The bank in February promoted investment banking head Yann Gerardin and top retail banker Thierry Laborde to co-chief operating offi
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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.