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The French bank also did not comment on plans to end its research partnership with Morningstar after more than four years. The expansion of the equities business by BNP comes as its Wall Street peers have reduced investment banking headcount this year amid sluggish trading and dealmaking activities. In Asia, BNP competes with large Western banks including Morgan Stanley (MS.N), Goldman Sachs (GS.N), JPMorgan (JPM.N) and UBS (UBSG.S), as well as a host of local investment banks in the cash equities business. One of the sources said BNP could boost its Asia equities headcount by as much as 20 over the next year. The bulk of BNP's in-house equities research team, mainly in Hong Kong and Singapore, departed as a result of that deal.

Persons: Dado Ruvic, Morningstar, Jean, Laurent Bonnafe, Morgan Stanley, Goldman Sachs, Jason Yates, BNP's, William Bratton, Exane, Bratton, " Yates, Selena Li, Sumeet Chatterjee, Jamie Freed Organizations: BNP, Bank, REUTERS, Morningstar, Deutsche, JPMorgan, UBS, Thomson Locations: HONG KONG, Asia, Asia Pacific, Europe, U.S, Russia, Ukraine, Pacific, BNP's, Hong Kong, Singapore, China, South Korea, India

☆ BNP Paribas posts in-line Q3 profits as trading declines
▼ + stars: | 2023-10-26 | by ( ) www.cnbc.com time to read: +2 min

BNP Paribas , the euro zone's biggest bank, posted in-line quarterly results on Thursday, as a jump in corporate financing services offset the continued retreat in trading revenue. Group sales over the three-month period ending in September rose by 4% to 11.58 billion euros, slightly above the 11.52 billion-euro consensus. Germany's Deutsche Bank reported a 12% drop in such revenue for the period, while Britain's Barclays reported a 13% decrease. BNP set aside 734 million euros for credit losses, below the 815 million euros expected by analysts. It also completed more than 85% of its 5 billion-euro share buyback program in 2023, equivalent to about 7% of its market capitalisation.

Persons: Jean, Laurent Bonnafe Organizations: BNP, French, Deutsche Bank, Barclays, Bank of Locations: U.S, Ukraine, Bank

☆ BNP only partly earns title of Europe’s JPMorgan
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +2 min

LONDON, May 3 (Reuters Breakingviews) - Bank investors and analysts often like to say that BNP Paribas (BNPP.PA) is the closest Europe has to a JPMorgan (JPM.N), the goliath of U.S. banking that just bought First Republic Bank (FRC.N). Compare that with Deutsche Bank (DBKGn.DE), whose deposits fell by 4.7% over the same period. JPMorgan will earn a 19% return on tangible equity this year, using Visible Alpha consensus data, which is good even for a U.S. bank. There’s no shame in losing to a bigger stateside rival on returns, but BNP also risks falling behind regional peers. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Global markets revenue jumped by about 24% in October-December, the euro zone's biggest bank said on Tuesday, fuelled by a 45% leap in revenue from trading in commodity derivatives, rates, foreign exchange and emerging markets. BNP's 45% sales growth in FICC trading (fixed income, commodities, currencies) compared with 25% growth at peers, analysts at Barclays said. Shares in BNP Paribas (BNPP.PA) were up as much as 4% by 1432 GMT on Tuesday, outperforming the euro zone bank index (.SX7E) and valuing the group at more than 78 billion euros ($83 billion). "These are upward revisions that are quite significant and not so frequent," Bonnafe told reporters in a call. BNP Paribas' net income fell by 6.7% to 2.15 billion euros.

RAISED TARGETSBNP's solvency ratio has notably benefited from the $16.3 billion sale of the group's U.S. retail business Bank of the West. The transaction, closed on Feb. 1, will fund the bulk of the share buyback, that will be carried out in two tranches. Recent central bank rate hikes are set to bolster earnings from loans, especially if the spectre of a recession on the continent recedes. "We are setting ambitious financial targets and pursuing our technological advances," Chief Executive Jean-Laurent Bonnafé said. ($1 = 0.9326 euros)Writing by Mathieu Rosemain; Editing by Ingrid Melander, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ BNP investors deserve bigger slice of M&A windfall
▼ + stars: | 2023-02-07 | by ( Liam Proud | ) www.reuters.com time to read: +4 min

He’ll give 4 billion euros to investors through share buybacks, which roughly cancels out the hit to BNP’s earnings per share from ditching the U.S. division. The other 7.6 billion euros, or two-thirds of the total haul, will pay for increased lending, investments in technology systems, and small acquisitions. Follow @liamwardproud on TwitterloadingCONTEXT NEWSBNP Paribas on Feb. 7 said it generated 50.4 billion euros of revenue in 2022, up 9% from the previous year. The French bank generated a 10.2% return on tangible equity in the year, slightly above the previous year’s 10%. BNP in 2021 agreed to sell BancWest to Canada’s BMO Financial for $16.3 billion in cash (15.2 billion euros).

☆ Who will be Wall Street’s un-American idol?
▼ + stars: | 2022-12-16 | by ( John Foley | ) www.reuters.com time to read: +8 min

Europeans have been losing the battle against Wall Street’s cozy club for a decade. Deutsche Bank has done the former. BNP has made smaller steps, buying Bank of America’s prime broking business in 2008, then Deutsche Bank’s in 2019. Even with the best intentions, European banks must contend with their own regulators, which affects their ability to take risk elsewhere. JPMorgan, Bank of America, Citigroup, Morgan Stanley and Goldman Sachs together took the top five slots for debt capital markets and merger advisory, as they also did in 2021.

☆ BNP defies French banks’ interest-rate malaise
▼ + stars: | 2022-11-03 | by ( Liam Proud | ) www.reuters.com time to read: +3 min

A regulated savings rate, with roots tracing back to the French Emperor’s wars of conquest, is one reason why Gallic retail lenders could miss out on an interest-rate windfall that is boosting banks elsewhere. Ironically, 60 billion euro BNP Paribas (BNPP.PA) looks set to escape the curse because of some international expansion of its own. One-third of Gallic lenders’ deposits sit in savings vehicles with regulated interest rates, Jefferies analysts reckon. Combined with other interest-rate regulations and the fact that many French mortgage borrowers are on fixed rates, the upshot is that Gallic retail lending margins don’t rise as quickly as they might in Spain or Britain. Chief Executive Jean-Laurent Bonnafé, who is approaching his 11-year anniversary in the role, deserves credit for helping BNP to defy the lending malaise at home.

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