BNP Paribas reports 9% rise in Q1 profit, investment bank stutters

BNP Paribas reported a forecast-beating 9% rise in first-quarter profit, supported by its retail bank. The result was partly offset by weaker performance from investment banking and trading, which failed to benefit from market turbulence tied to the war in Iran. Overall, the print is a modest positive for the bank, but the mixed segment performance tempers the upside.

Analysis

BNP Paribas reported a forecast-beating 9% rise in first-quarter profit, supported by its retail bank. The result was partly offset by weaker performance from investment banking and trading, which failed to benefit from market turbulence tied to the war in Iran. Overall, the print is a modest positive for the bank, but the mixed segment performance tempers the upside.