BNP Paribas : Q2 2020 – Provisioning capacity unused, a sign of confidence
>Guidance – Market still wary - The market’s reaction to the Q2 earnings report confirms just how wary it is about the 2020 earnings guidance issued by management (NP -15% to -20% vs 2019). It remains puzzled by the cost of risk which is thought not to fully factor in the presumed sharp deterioration in portfolio quality in the second half of 2020 and probably in 2021. This wariness about 2020 is also reflected in steady downward revisions to 2021 consensus forecasts,...BNP Paribas is engaged in the provision of banking and financial services. Co.'s business activities are divided into two segments: Retail Banking & Services and Corporate and Investment Banking. The Retail Banking and Services business includes domestic markets and international financial services. The Corporate and Institutional Banking comprises of corporate banking, global markets, and securities services. Other activities include principal investments, which related to Co.'s central treasury function, some costs related to crossbusiness projects, the residential mortgage lending business of personal finance, and certain investments.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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