The retail banking unit of French lender BNP Paribas has reported a pre-tax income of EUR2.25bn for the third quarter of 2015, up 7.2% compared to EUR2.1bn in the year-ago quarter.
For the quarter ended 30 September 2015, the division’s revenues were EUR 7.63bn, a rise of 5.7% from EUR7.22bn in the third quarter of 2014.
The unit’s operating income increased 6% to EUR2.12bn from EUR1.99bn in the prior year.
The bank’s French Retail Banking (FRB) arm revenues were EUR1.66bn for the third quarter, down by 3% compared to EUR 1.72bn a year ago, while net interest income dropped 3.8% to EUR986m from EUR1.03bn a year ago.
Overall, the banking group’s pre-tax income increased 8.9% to EUR2.67bn from EUR2.45bn in the year ago quarter. Net income attributable to equity holders stood at EUR1.83bn, up 14.5% compared to EUR1.59bn a year ago.
Revenues increased by 8.5% to EUR10.34bn from EUR9.54bn in the third quarter 2014.
Commenting on the bank’s performance, BNP Paribas CEO Jean-Laurent Bonnafé said: "With 1.8 billion euros in net income, BNP Paribas delivered a good overall performance this quarter.
"In a context of a gradual return to growth in the Eurozone, and thanks to the trust of our individual,corporate and institutional clients, outstanding loans are growing and revenues are up in all the operating divisions.
"The Group’s balance sheet is very strong and the further increase of the fully loaded Basel 3 common equity Tier 1 ratio to 10.7% is evidence of the solid organic capital generation."