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Fortis buy drives BNP Paribas Q3 income up to EUR1.3bn

Nov 05, 2009 (M2 EQUITYBITES via COMTEX) --

Companies: BNP Paribas (BNPZY),

5 November 2009 - France's biggest lender BNP Paribas (EPA:BNP) said today its net attributable income surged 44.8% on the year to EUR1.305bn (EUR1.938bn) in the third quarter, helped by its recent acquisition of Belgian peer Fortis.

Analysts had expected net earnings of EUR 1.184 billion.

Gross operating income gained 31.8% to EUR4.020bn and net banking income added 14.3% year-on-year to EUR8.632bn.

The solid profit growth further enhanced the bank's solvency, with equity tier 1 ratio, which measures the ability to absorb losses, rising to 7.8% at 30 September 2009 from 7.2% at 30 June 2008.

The sound third-quarter performance, which topped analysts' earlier forecasts, lifted the bank's nine-month net income by 1.8% to EUR4.467bn. 

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Companies: BNP Paribas (BNPZY),


Related terms: acquisition, epa, equity, forecasts, france, profit

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