BNP Paribas's Q1 profit increase powered by trading rebound

Paris

BNP Paribas reported a 4.4 per cent rise in quarterly profit, topping analysts expectations, as a surge in fixed income and equities trading helped offset weak retail banking in home markets where revenue fell.

The results came after French banks enjoyed a stock market rally following the first round of the French presidential election that bolstered investors' projections that Emmanuel Macron, seen as a business-friendly candidate, would eventually win.

France's biggest bank said on Wednesday that net income rose to 1.89 billion euros (S$2.9 billion) in the first quarter f…