BNP Paribas profits rise amid bank sector hopes | The Daily Star
11:00 PM, August 04, 2009 / LAST MODIFIED: 11:00 PM, August 04, 2009

International Business News

BNP Paribas profits rise amid bank sector hopes

French bank BNP Paribas posted a 6.6-percent rise in second-quarter net profit on Tuesday -- the latest lender to report a pick-up as signs mount that the worst of the economic crisis may be over.
"In an environment characterised by a continued deterioration in the economy and a gradual normalisation of the markets, BNP Paribas Group again had a solid performance," the bank said in its earnings statement.
BNP Paribas chief executive Baudouin Prot said the bank was now "well positioned to take on the challenges of the current economic environment."
Prot told reporters after the results were announced that the bank would "continue to have a good activity" in the coming months.
Emerging markets bank Standard Chartered posted record first-half profits on Tuesday and leading British banks Barclays and HSBC raised hopes for the crisis-hit financial strong sector when they posted strong profits on Monday.
Bank of America, Citigroup, JPMorgan Chase and Goldman Sachs beat market expectations with strong results last month although most of the gains from the institutional side of operations with consumer segments still struggling.

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