The West

Paribas hit by investment fall
Paribas hit by investment fall

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.

The West Australian

Latest News From The West

The victim of the Carlisle siege is suing the estate of the man who took her hostage at knife-point in a bid to get compensation for the permanent injuries she suffered during the deadly police …

Qantas and the operators of Perth Airport are poised to strike a deal within days to allow the first non-stop flights from Australia to Europe through the airline’s domestic terminal.

Popular videos

Our Picks

Follow Us

More from The West