BNP Paribas reported a 17 percent fall in net income during the first quarter of the year, highlighting “lackluster” trading activity in Europe.
The French bank announced profits of 1.57 billion euros ($1.88 billion) for the first quarter on Friday. This was down from 1.89 billion euros a year ago but was in line with analyst estimates of 1.55 billion euros, according to a Reuters poll.
The French lender said that the surge in the euro and poor market conditions contributed to the fall in the numbers.
Source: cnbc
French bank BNP Paribas announces a double-digit fall in net income