BNP Paribas said on Thursday that increased trading activity at its investment banking division helped it meet profit forecasts in the third quarter, after its consumer finance and car-leasing businesses disappointed.
South Korean prosecutors have indicted BNP Paribas SA for breaching short-selling trade rules in the domestic stock market, Bloomberg News reported on Friday, citing sources.
France's top court ordered BNP Paribas SA on Wednesday to repay a client who fell victim to a scammer who pretended to be an adviser for the bank.
BNP Paribas is planning to reduce headcount in Bahrain and scrap Manama as its Middle East and Africa (MEA) head office, after deciding all its local offices in the region would report to Paris, two sources close to the matter said.
Investors with an interest in Banks - Foreign stocks have likely encountered both BNP Paribas SA (BNPQY) and National Australia Bank Ltd. (NABZY). But which of these two stocks offers value investors a better bang for their buck right now?
BNP Paribas SA's stock has returned nearly 20% since I last covered the stock in February 2023. However, a changing interest rate environment warrants a revised outlook. The bank's second quarter results showed strong performance in corporate and institutional banking, steady growth in investor protection services, and a stable balance sheet with a CET 1 ratio of 13%. BNP Paribas' acquisition activities, including AXA Investment Managers and HSBC Continental Europe, might enhance its cross-selling strategy and non-cyclical wealth management operations.
Pension funds, endowments and family offices are planning to make new equity hedge funds allocations through the end of the year, a survey by BNP Paribas showed, as the strategy has led the industry performance in 2024.
BNP reported a solid set of numbers. Q2 results were positively impacted (once again) by the corporate investment banking division. Strong strategic rationale in AXA IM acquisition. Higher 2024 outlook to priced in, combined with balance sheet flexibility and sustainable shareholders' remuneration. This is still a buy.
Shares of French banking giant BNP Paribas have been relatively weak since my last update, with political developments in France taking the shine off solid financial results. Q2 results were robust. Net income beat consensus, with equities trading a particular highlight. BNP is pretty insensitive to interest rates, so those earnings should prove relatively stable. These shares are now back under 0.7x tangible book value. With the bank earning an 11-12% return on tangible equity, the implied P/E is only around 6x.
Poland's BNP Paribas BP posted a bigger than expected 36% jump in second-quarter net profit on Tuesday, supported by a one-off positive impact from deferred tax, and lower legal provisions related to Swiss franc mortgages.
BNP Paribas (BNPQY) enters into discussions to acquire AXA Investments Managers. Also, both entities set up a long-term partnership to manage a significant part of AXA's assets.
When acquisitive Czech billionaire Daniel Kretinsky set his eyes earlier this year on one of Britain's most iconic companies, the Royal Mail, he chose BNP Paribas along with two Wall Street giants to advise him.