BNP Paribas Q1 Profit, Revenues Down

French lender BNP Paribas (BNPQY.PK,BNP.L) Tuesday reported lower profit and revenues for the first quarter, and said it expects net income, Group share, for the fiscal year 2020 to be about 15-20 percent lower than in 2019.

For the first quarter, the Group's net income attributable to equity holders slid by 33.2 percent to 1.282 billion euros.

The Group said net income would have declined by 18.4 percent to 2.093 million euros, when excluding exceptional items and taxes subject to IFRIC 21, while it would have rose by 6.7 percent to 2.047 billion euros, after adjusted for the three impacts of the health crisis.

While the Group's gross operating income edged up by 1.3 percent to 2.731 billion euros, it's operating income slid by 32.2 percent to 1.305 billion euros.

For the first quarter, revenues declined by 2.3 percent to 10.88 billion euros. The Group said it would have been up by 2.8 percent, excluding certain two one-off impacts.

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