French banking giant BNP Paribas reported a stronger-than-expected 33% rise in second-quarter net profit, driven by robust equity trading, a recovery in its retail banking business and gains from its revamped insurance partnership with Ageas, Reuters reported.
The euro zone's largest bank by assets posted net income of 4.35 billion euros ($4.97 billion) for the three months ended June, surpassing the average analyst estimate of 4.21 billion euros compiled by the bank. Revenue rose 12% year-on-year to 14.1 billion euros, also beating market expectations, while operating expenses increased 10%.
