BNP Paribas bites the dust
BNP Paribas has made related in the fourth quarter of last year 42 per cent less profit then a year before through redemptions at the credit crisis. The net profit came from on more than 1 billion euro, reported the largest bank of France Wednesday.
The figures come to the same thing with the temporary results that end of Januaries were announced.
BNP Paribas was one of the first European banks that last year as consequence of problems on the American mortgage market robust redemptions had to report. BNP Paribas wrote off in the fourth quarter in totally 898 million Euros. With that is the bank less heavily hit then other banks as for instance UBS or its French rivals Crédit Agricole and Société Générale.
Come up markets
Despite the profit decline in the fourth quarter posted BNP Paribas over whole 2007 a record profit of 7.8 billion euro, 7 per cent more than in 2006. The total profits went with 11 per cent upwards to 31 billion euro, also a record. The group is optimistic over the walking year, despite the defying economic climate and the exceptional volatility on the purses, according to senior official Baudouin Prot.
BNP Paribas want to expand especially its presence in come up markets, as Brasil, China, India, the countries around the mediterranean Sea and eastern Europe. The group want its earnings from come up countries within three year double until 15 per cent of the total.
Market value
On the overripe in Paris stood the share BNP Paribas 0.4 per cent higher. Since this year begin is the share gone down with 19 per cent in value. The market value of BNP Paribas amounts to approximately 54 billion euro.
BNP Paribas is named sleepiness to take as a candidate Société Générale over. The French branch companion had to report last month a loss of almost 5 billion euro. That is causes according to Société Générale through stupid investments of a single merchant. End of January said to study BNP Paribas a possible bid on Société Générale.
Senior official Prot had not to say Wednesday or will bring out BNP Paribas actively a bid on Société Générale. According to Prot is the situation by the second to largest bank of France ,,complex”. BNP Paribas did to incorporate in 1999 an in vain attempt Société Générale in.
