(Boursier.com) — BNP Paribas climbed another nearly 3% and crossed the 50 euro mark again on Friday, after already a good performance yesterday in the wake of a solid quarterly publication. Banque du Boulevard des Italiens published results that exceeded market expectations, as market activities compensated for a decline in financing income and an increase in expenses… The financial group posted results for the three months to the end of September net profit up 10.3% to 2.76 billion euros, for net banking income of 12.311 billion euros, up 8% over one year (+4.9% at constant scope and exchange rates). Operating income reached 3.507 billion euros, an improvement of 6.9% (+4.5% at constant scope and exchange rates).
Among the latest brokers’ opinions, Deutsche Bank adjusted the target from 68 to 70 euros with a buy notice and Oddo BHF raised the cursor from 66 to 68 euros while also remaining on the buy side. In market activities, which are still closely followed by the financial community, revenues rose by 14.7%, driven by commodity derivatives as well as by the interest rate and foreign exchange markets. FICC’s revenues thus show a very clear increase of 25.5%. On the other hand, in financing, the Global Banking division saw its revenues fall by nearly 8%. , explained the bank.
RBC, for its part, speaks of a “good set of results” and noted that management had reiterated its capital distribution plan for 2022 despite a CET1 ratio below expectations. To ‘outperform’ on the value, the analyst thinks that the potential slowdown is already taken into account by the market. Jefferies (‘buy’) says BNP beat expectations thanks to stronger revenues, well-contained online costs, and slightly better-than-expected provisions…
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