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France's BNP posts profit rise as retail rebounds, provisions fall


Reuters
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The BNP Paribas logo is seen at a branch in Paris, France, February 4, 2020. REUTERS/Benoit Tessier/File Photo
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PARIS, July 29 (Reuters) - France s BNP Paribas
on Friday reported a 26.6% rise in second-quarter net income powered by a rebound in French retail banking activity and a fall in loan loss provisions to pre-pandemic levels.
The euro zone s biggest listed lender posted a net profit of 2.91 billion euros as its cost of risk, reflecting provisions for bad loans, fell 43.8% to 813 million.
Revenue was up 0.9%, as a 9.5% rebound in retail banking offset a drop in corporate and investment banking revenue compared to a year ago when like its peers the French bank profited during a highly volatile period for markets. ....

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