FINANCE - BANKS

Half-year results

BNP Paribas posts strong first half of 2021



Activity in the bank's network of branches was particularly strong during the first half of the year. (Photo: Shutterstock)

Activity in the bank's network of branches was particularly strong during the first half of the year. (Photo: Shutterstock)

French banking group BNP Paribas has posted very strong half-year results. Fees and credit activity are up in the main markets, as well as specialised activities such as car leasing.

On 30 July BNP Paribas announced strong half-year results compared not only to pandemic-hit 2020, but also to those in the first six months of 2019.

The French banking group posted net banking income of €23.606 billion for the first half of the year. This is an increase of 4.6% compared to 2020 and 5.5% up on the same period in 2019.

Four key markets

The domestic markets division, which includes networks in France, Belgium, Italy and Luxembourg, did particularly well. Its net banking income rose by 5.2%. The bank saw a rebound in activity, with a sharp rise in commissions, sustained credit activity and good performances from its specialised activities, such as car leasing with Arval.

In the second quarter, outstanding loans grew by 4% compared to the April-June period of 2020, driven by the corporate and retail markets. Deposits, fuelled by customer behaviour during the health crisis, rose by a further 7.5% in the same quarter.

BNP Paribas' half-yearly net income amounted to €4.679 billion. This is an increase of 30.6% compared to the first half of 2020 and 6.7% compared to the same period in 2019.