BNP BNP Paribas

   By Pietro Lombardi 
 

BNP Paribas SA's (BNP.FR) second-quarter net profit rose, helped by slightly growing revenue, gains on a stake sale and lower income tax.

France's largest listed bank by assets had a net profit of 2.47 billion euros ($2.75 billion) for the quarter compared with EUR2.39 billion a year earlier, it said Wednesday.

Revenue edged up to EUR11.22 billion from EUR11.21 billion.

Analysts had expected the bank to achieve a net profit of EUR2.11 billion on revenue of EUR10.95 billion, according to a consensus forecast provided by FactSet.

The bank posted a gain on the sale of a stake in SBI Life Insurance, its Indian joint venture with the State Bank of India, and the deconsolidation of the remaining stake.

BNP's core Tier 1 capital ratio--a key measure of capital strength--increased to 11.9% in June from 11.7% in March.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

July 31, 2019 01:24 ET (05:24 GMT)

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