European trader laggards’ energy boost has legs CGAThompson
BNP Paribas on July 31 reported second quarter pre-tax profit of 3.4 billion euros, down 2.2% from a year earlier. Revenue rose by 0.2% over the same period to 11.2 billion euros.
BNP’s common equity Tier 1 capital ratio was 11.9%, compared to 11.7% three months earlier. The bank reported an annualised return on tangible equity of 11% for the quarter, down from 11.2% in the second quarter of 2018. Credit Suisse’s trading division delivered a $359 million pre-tax profit, up 141% from the same quarter a year earlier, on revenue that rose by 8% year-on-year to $1.6 billion.
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