August 1, 2018 / 5:03 AM / in 2 years

French bank BNP Paribas posts Q2 net profits above forecasts

PARIS, Aug 1 (Reuters) - BNP Paribas, France’s biggest listed bank, reported a slight dip in second quarter profits which nevertheless beat market forecasts, as higher revenues from its international financial services unit offset sluggish fixed-income trading.

Net profit fell 0.1 percent to 2.93 billion euros ($3.43 billion) compared with 2.96 billion euros in the same period last year. Four analysts polled by consultancy Inquiry Financial for Reuters expected a median profit of 2.07 billion euros.

Overall, group revenues rose 2.5 percent from the same period to 11.21 billion euros, compared with a median forecast for revenues of around 10.9 billion euros.

Revenue from its corporate and investment banking (CIB) unit fell 6.8 percent to 2.98 billion euros, while revenue from international financial services, which include its consumer lending arm, its U.S. bank and its insurance business, rose 8.7 percent to 4.28 billion euros.

$1 = 0.8551 euros Reporting by Inti Landauro; Editing by Sudip Kar-Gupta

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