BNP sees profitability exceeding target as growth takes hold

Paris

BNP Paribas SA is signalling it's possible for a big European bank to reap the benefits of a stronger economy, just days after Deutsche Bank AG gave investors a cold shower.

An improving interest-rate environment is likely to support growth, France's largest lender said on Tuesday as it reported fourth-quarter profit and trading results mostly in line with analysts' estimates. BNP Paribas said it aims for return on equity to surpass its 10 per cent target for 2020, and also posted a 12 per cent increase in equity trading revenue.