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This result earns the Group the number 2 ranking among Euro zone banks.
It marks a 60% rise over the first half 1999 pro-forma results, or 17.3% excluding the restructuring charge, and is driven by the good operating performance of all the core businesses.
The merger is being carried out with no loss of customers and no disruption in business. BNP Paribas is ahead of schedule on its industrial plan and achieving the cost synergies announced more rapidly than forecasted.
In its three areas of businesses -retail banking, corporate and investment banking and asset management and private banking- BNP Paribas has defined the business development strategies commensurate with its size and level of performance and undertaken the far-reaching actions required to implement them.