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BNP-Paribas beats forecast and says loans are picking up


Business

BNP-Paribas beats forecast and says loans are picking up

France’s biggest bank BNP-Paribas has beaten forecasts with its Q1 net income up by 17.5%.

The bank says it sees a Eurozone-wide revival in loan demand and investment banking.

A rise in corporate banking offset falls in the oil and commodities sector, and good business growth in America and in Asia combined with the strong business of major clients in capital markets sustained revenue growth says the bank.

Corporate banking saw a surge in foreign exchange deals, equity and bond issuance, and mergers and aquisitions. The divisions’ revenues leapt by over 23%.

Francois Michelin who led the world's second largest tyre maker has died

Business

Francois Michelin who led the world's second largest tyre maker has died