BNP Paribas' net income at €1.6B in Q4, down 14%

Friday, 05. February 2021 07:03

BNP Paribas' net income fell 13.9% year-on-year to €1.59 billion in the fourth quarter of 2020, the company announced on Friday. During the same period, revenues fell by 4.5% year on year to €10.8 billion, while the gross operating income went down by 1.1% in the fourth trimester compared to the same period in 2019 to €3.27 billion and operating income dropped 28.6% in the same period to $1.67 billion.

Revenues for the whole year of 2020 fell by 0.7% to €44.2 billion while the group's operating expenses stood at 30,194 million euros, down by 3.6% compared to 2019, in line with the objectives of the 2020 plan. The company’s operating income was at 8,364 million euros, down by 16.8% in comparison with 2019.

"In 2020 and still today, our main concerns are helping our clients cope with the effects of the health crisis and safeguarding our employees’ health. I would like to thank our teams for having adjusted nimbly throughout the year. The bank has mobilized all its resources to help our clients weather this crisis and lay the foundation for a solid and sustainable economic recovery.," CEO Jean-Laurent Bonnafe stated elaborating the results.

Related Links: 
Author:
Breaking the News / TF