Solid BNP Paribas Q1 results beats expectations inspite of Covid-19 crisis
From a position of robustness, BNP Paribas is mobilising its strengths and teams to support individual, corporate and institutional clients during these challenging times
In addition to the huge human and social suffering due to Covid-19, the macroeconomic outlook has produced extreme shocks on the financial markets.
After a quarter in line with the 2020 objectives of BNP Paribas, health crisis related developments had several impacts on the first quarter 2020.
In this context, revenues, at 10,888 million euros, were down by 2.3% compared to the first quarter 2019. Excluding the one-off impacts related to the health crisis, they would have been up by 2.8% compared to the first quarter 2019, far better than many analysts had predicted.
"We have managed to attract record levels of additional deposits and have constantly managed to gain market share in most areas. We are today the #1 ranked bank in sydicate loans, corporate bonds, euro bonds and green bonds. We are also the second most active bookrunner of new issues for financial institutions and ranked as the leading european house for Nordic M&A. Our response to this unprecedented crisis has been impressive and would not be possible without the ongoing trust of our clients and the passion and commitment of our colleagues – across all regions, businesses and functions, says Eirik Winter, CEO BNP Paribas Group Nordic Region"
"The Nordic Region is strategically important to BNPP globally and we are continuing to support our clients and our people as the leading European bank in the Nordic Region, he adds.
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Press Contact:
Frida Stockenvall
T +46 (8) 5623 2804 | frida.stockenvall@bnpparibas.com
BNP Paribas is the largest bank in Europe with a global reach. It has a presence in 73 countries, with more than 200,000 employees, including around 149,000 in Europe. The Group has key positions in its three main activities: Corporate & Institutional Banking (CIB) which serves two client franchises: corporate clients and institutional investors. Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In the Nordic region BNP Paribas employs over 700 people across CIB, Asset Management, Personal Finance, Car Fleet Management, Leasing, Factoring and Insurance, with offices in Denmark, Finland, Norway and Sweden