Tag: $BNP Paribas

BNP Paribas SA reported unexpectedly high fourth-quarter profit and raised some mid-term financial targets as Chief Executive Officer Jean-Laurent Bonnafe seeks to prop up a stock that has long lagged peers.

French bank BNP Paribas (BNPP.PA), on Thursday raised its core capital buffer, known as CET1, to 13% by 2027, up from 12.5% just two months ago, as it aims to reassure investors and narrow the gap with some European rivals.

BNP Paribas SA fell to a six-month low after losing a court case that analysts said could result in a costly settlement.

BNP Paribas has signed a deal to buy HSBC’s private banking unit in Germany as it continues to expand its footprint in wealth management, the French lender said on Monday.

French insurer Axa has entered exclusive talks to sell its investment management arm to BNP Paribas for €5.1bn in a deal that would create one of the largest industry players in Europe.

Axa SA is studying options for its investment manager and has been contemplating a combination with BNP Paribas SA’s asset manager, a joint venture that would have total assets under management of about €1.4 trillion ($1.5 trillion).

BNP Paribas, the euro zone’s biggest bank, posted in-line quarterly results on Thursday, as a jump in corporate financing services offset the continued retreat in trading revenue.

PARIS, July 27 (Reuters) – BNP Paribas (BNPP.PA), the euro zone’s biggest bank, beat estimates in the second quarter as its corporate debt financing business and strong cost management partly offset a slump in securities trading.