BNP Paribas said that the strong growth in revenues and results in the third quarter of 2022, was driven by its diversified and integrated model and its ability to accompany clients and the economy in a comprehensive way
BNP Paribas reports net profit of €2.8bn for Q3 2022. (Credit: BNP Paribas)
BNP Paribas reported a net profit of €2.8bn for the third quarter that ended 30 September 2022, a 10.3% increase compared to €2.5bn for the corresponding quarter in 2021.
The French investment bank has reported a pre-tax income of €3.7bn for the third quarter (Q3) of 2022, an 8.2% increase compared to €3.4bn for the same period the previous year.
The company’s revenue for the reported period was €12.3bn, which increased by 8% compared to €11.4bn for the respective quarter in 2021.
BNP Paribas has reported an operating income of €3.5bn for Q3 2022, a 6.9% increase compared to €3.3bn for the same quarter of the prior year.
The investment bank attributed the strong growth in revenues and results in Q3 2022, to its diversified and integrated model and ability to serve clients in a comprehensive way.
BNP Paribas chief executive officer Jean-Laurent Bonnafé said: “We continue to develop our activities and mobilise our resources at the service of our clients and the European economy.
“On the strength of its model, the Group has achieved solid third-quarter results. These results demonstrate our ability to expand and develop leading platforms at the service of the European economy.
“They reflect the dynamism of our clients who are adapting to economic developments, and BNP Paribas’ ability to support individuals, corporates and institutionals in all phases of the economic cycle.”
BNP Paribas’ commercial, personal banking and services division reported revenues of €7.1bn for Q3 2022, a 9.6% rise compared to €6.5bn for the same period last year.
The company’s corporate and institutional banking unit reported revenues of €3.8bn for Q3 2022, a 5.6% rise compared to €3.6bn for the same quarter in 2021
Its global banking arm reported revenues of €1.2bn for Q3 2022, a 7.7% decline compared to €1.3bn for the respective quarter of the previous year.
The company’s global markets division reported revenues of €2bn for Q3 2022, a 17.8% rise compared to €1.7bn for the corresponding period in 2021.
BNP Paribas’ securities services unit reported revenues of €632m for Q3 2022, a 9.9% increase compared to €575m for the same quarter the previous year.