France's biggest bank, BNP Paribas, says earnings fell significantly in the second quarter driven by a downturn in its investment banking division.
Net income dropped 13.2 per cent in the April to June period to 1.8 billion euros ($A2.12 billion), the bank said today.
Its revenue slumped 8 per cent to 10.1 billion euros as investment banking clients pulled back business amid the uncertainty of Europe's debt crisis and the global economic slowdown.
Despite the fall, the bank struck an optimistic note, pointing out it had nearly achieved the nine per cent ratio of good assets to risky ones, six months before that level will be mandatory.Efforts to achieve that ratio while also navigating a crisis that has seen the value of many of their assets plummet has weighed on Europe's banks.
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