French bank BNP Paribas reported Wednesday a net income growth of 53 percent from the previous quarter at 2.39 billion euros ($2.79 billion).
From a year ago however, net income came in slightly lower, by 0.1 percent.
The bank said in a statement that its business increased in the context of higher economic growth in Europe. But it also pointed out that “an unfavorable exchange rate effect” and a challenging market environment for corporate and investment banking prevented it from achieving even better results.
Here are some of the highlights in the second-quarter:
- Revenues at 11.2 billion euros ($13.08 billion)
- Net income at 2.39 billion euros ($2.79 billion)
- Outstanding loans up by 3.7 percent from a year ago
BNP Paribas said that is 2020 transformation plan is well underway. The program, which is aiming for “digital transformation” of the business, has allowed for 149 million euros in costs savings during the second quarter of the year, the lender said.
