By Pietro Lombardi

BNP Paribas SA released results for the third quarter Tuesday. Here is what you need to know.

NET PROFIT: France's largest-listed bank by assets said net profit declined by just 2.3% to 1.89 billion euros ($2.20 billion), beating analysts' expectations of EUR1.54 billion, according to a consensus provided by FactSet.

REVENUE: Revenue was roughly stable at EUR10.89 billion, also above expectations.

WHAT WE WATCHED:

-INVESTMENT BANK: Global markets revenue rose almost 32% on year, with fixed-income revenue up 36%.

-PROVISIONS: BNP, one of Europe's largest banks, set aside EUR1.25 billion for potential loan losses. This is 47% more than the same period last year but less than it socked away in the second quarter.

-CAPITAL: BNP's core Tier 1 capital ratio--a key measure of capital strength--was 12.6% at the end of September, up from 12.4% in June.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com; @pietrolombard10

(END) Dow Jones Newswires

November 03, 2020 02:28 ET (07:28 GMT)

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