BNP Paribas has revealed its results for the third quarter of 2017 following a meeting of the Board of Directors yesterday; the findings revealed a decrease of 1.8% in revenue.
The latest results have shown mainly that the cost of risk and revenues decreased in the third quarter of this year, whilst there was a significant increase in net income and good cost containment.
Indeed, BNP Paribas reported in the third quarter good business development in an improved economic environment in Europe. However, the market context this quarter was unfavourable for the market activities. As such, revenues totalled €10,394 million, down by 1.8% compared to the third quarter 2016 due to an unfavourable foreign exchange effect. Moreover, at €7,133 million, operating expenses were down by 1.2% compared to the third quarter 2016 (+0.4% at constant scope and exchange rates). The gross operating income of the Group thus decreased by 3.3% to €3,261 million.
However, the cost of risk was also at a low level this quarter, at €668 million a decrease of 12.6% compared to €764 million in the third quarter 2016. Meanwhile, net income attributable to equity holders increased by 8.3% to €2,043 million.
The Group has announced that it is actively implementing the 2020 transformation plan, a new programme of customer experience, digital transformation and operating efficiency. It has also stated its intention to continue to reinforce its internal control and compliance systems. Lastly, BNP Paribas has revealed it is carrying out a policy of engagement in society aimed at financing the economy in an ethical manner, developing its people and combating climate change.
