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BNP Paribas missed profit expectations due to integration costs and higher loan losses, though it upheld its 2025 income target.
BNP Paribas reported third-quarter net profit of €3.04 billion, slightly below expectations, due to €690 million in integration costs from its AXA IM acquisition and a 24% year-on-year rise in loan loss provisions, driven by a specific credit issue in its global markets unit.
Revenue rose 5.3% to €12.6 billion, falling short of the €12.8 billion consensus.
Despite strong performance in investment banking and retail, shares fell over 3% amid a U.S. jury verdict awarding €20.7 million in damages over Sudan-related sanctions, which the bank says is legally flawed and plans to appeal.
It reaffirmed its 2025 net income target above €12.2 billion and expects €550 million in pre-tax synergies by 2029.
BNP Paribas no cumplió con las expectativas de ganancias debido a los costos de integración y las mayores pérdidas crediticias, aunque mantuvo su objetivo de ingresos para 2025.