In view of the exceptional turbulences currently affecting financial markets, BNP Paribas has deemed appropriate to give preliminary indications on its level of results for the second quarter of 2002 as soon as it had completed the initial phase of its account consolidation process. The group's Net Banking Income for the quarter should be approximately EUR 4.1 billion, a decline of slightly less than 6 % compared to the second quarter of last year. Net Income attributable to the group for the quarter should come close to EUR 1.0 billion (a decrease of roughly 13%). Return on Equity for the first half of 2002 should be around 16%.
The evolution of the group's Net Banking Income results mainly from the conditions prevailing in equity and debt (especially corporate debt) markets, which in June adversely affected the revenues of the Asset Management & Services core business, and even more significantly those of the Corporate & Investment Banking core business.
Gross Operating Income should be around EUR 1.4 billion (circa 16% below the same quarter of last year), while the level of provision charges for the quarter should be approximately EUR 0.3 billion, in line with the levels of the second quarter of 2001 as well as the first quarter of 2002.
BNP Paribas will, as previously announced, provide full details and comments on its results for the second quarter on August 1st, 2002.
The evolution of the group's Net Banking Income results mainly from the conditions prevailing in equity and debt (especially corporate debt) markets, which in June adversely affected the revenues of the Asset Management & Services core business, and even more significantly those of the Corporate & Investment Banking core business.
Gross Operating Income should be around EUR 1.4 billion (circa 16% below the same quarter of last year), while the level of provision charges for the quarter should be approximately EUR 0.3 billion, in line with the levels of the second quarter of 2001 as well as the first quarter of 2002.
BNP Paribas will, as previously announced, provide full details and comments on its results for the second quarter on August 1st, 2002.