BNP Paribas says profits up despite ‘lacklustre’ markets

PARIS: French bank BNP Paribas said Tuesday that its profits rose last last year as good business performance in all divisions helped cushion it against a “lacklustre interest rate and market environment.” BNP Paribas said in a statement that net profit edged forward by 0.7 per cent to 7.8 billion euros ($9.7 billion, Dh35.6 billion) in 2017. Underlying or operating profit declined by 4.3 per cent to 10.3 billion euros as revenues slipped by 0.6 per cent to 43.2 billion euros. Its management board proposed paying an increased dividend of 3.02 euros per share for 2017, compared with 2.70 euros for 2016.