Chief Executive Jean-Laurent Bonnafé, who is approaching his 11-year anniversary in the role, deserves credit for helping BNP to defy the lending malaise at home. His new strategy,in February, focuses on boosting growth in racier areas like car finance, wealth management and trading. The bank has built up a large international business spanning Belgium, Italy, Poland and elsewhere.
Net interest income in its domestic French business, called commercial and personal banking, was up 5% year-on-year.Editing by George Hay and Pranav KiranOpinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Breakingviews - Saudi Credit Suisse deal is fair Buffett imitationBank crisis trades have ranged from the terrific to terrible. At the positive end is Warren Buffett’s 2008 deal with Goldman Sachs . At the other is Abu Dhabi Investment Authority’s 2007 investment in Citigroup , which ended up in . Saudi National Bank is continuing the tradition, ponying up about $1.4 billion for a 9.9% stake in troubled Credit Suisse . Its returns may be closer to Buffett’s than its Gulf peer’s.
Source: Breakingviews - 🏆 470. / 51 Read more »
Breakingviews - If 8% inflation is worrying, 3% could be worseHere’s one way the inflation story might go. The Federal Reserve, after raising interest rates by 75 basis points on Wednesday, does so again in smaller steps in December and February, as expected. The rate at which consumer prices are rising falls from its current 8% to 2%, and unemployment rises, modestly, to around 4.5%. That’s the scenario the Fed hopes for. But what if inflation doesn’t go back to 2%, and instead sticks somewhere higher, like 3%? That’s when things could start to get scary. johnsfoley This is great news for the Democrats right before an election! NOT! johnsfoley It has been scary since Jan 😂 johnsfoley Replace Jerome Powers!!!! We need someone better than a lawyer
Source: Breakingviews - 🏆 470. / 51 Read more »