Key facts
- Third-quarter net income rose 14% to €3.46 billion.
- Quarterly revenue increased to €13.76 billion.
- Equity and prime services revenue jumped 50% year-on-year.
- Corporate and institutional banking unit sales rose 17%.
BNP Paribas posted a 14% rise in third-quarter net income to €3.46 billion, beating analysts' average forecast of €3.23 billion. The lender's revenue climbed to €13.76 billion, slightly above expectations. The results were boosted by a record jump in equity and prime services revenue, which rose 50% year-on-year, and a 4% increase in retail business income due to higher interest rates. The bank announced a €1.3 billion share buyback after meeting its Common Equity Tier 1 capital ratio ahead of schedule. BNP Paribas also stated its exposure to French sovereign bonds was limited at €19 billion.