BNP Paribas attributed the increased profits to its integrated business model and financial structure that served its clients and the economy
BNP Paribas has reported a net profit of €2.9bn for the second quarter ended 30 June 2021, a 26.6% increase compared to €2.3bn for the same quarter last year.
The company’s revenue for the reported period was €11.7bn, an increase of 0.9% compared to €11.6bn for the same period in 2020.
BNP Paribas has reported an operating income of €3.8bn for the second quarter (Q2) 2021, a 31.2% rise compared to €2.9bn for the corresponding quarter last year.
The bank has reported a pre-tax income of €4.2bn for Q2 2021, an 34.2% increase compared to €3.1bn for the same period the previous year.
The French banking firm has attributed the rise in profits to its diversified and integrated model, and financial structure that served its clients and the economy.
BNP Paribas chief executive officer Jean-Laurent Bonnafé said: “BNP Paribas’ results are solid and reflect the rebound in activity and our growth potential.
“While strengthening its environmental and social commitments, and continuing its digital and industrial transformation, the Group continues to mobilise all its resources and expertise to support individual, corporate and institutional clients in putting in place the right solutions.
“I would like to thank BNP Paribas teams in all its entities for their constant presence at the side of our clients, who are increasingly numerous in placing their confidence in us in Europe and worldwide.”
BNP Paribas’s Retail Banking and Services unit reported revenues of €7.9bn for Q2 2021, a 3.9% rise compared to €7.6bn for the corresponding quarter in 2020.
The company’s Domestic Markets business generated revenues of €4bn for Q2 2021, an increase of 8% compared to €3.7bn for the same period last year.
Its French Retail Banking unit reported revenues of €1.6bn for Q2 2021, a 14% rise compared to €1.4bn for the same quarter in 2020.