BNP Paribas : Solid underlying performance anticipated in Q2 in a slightly less favourable environment
>We forecast revenue of € 11.2bn in Q2 - BNP Paribas is due to report Q2 2023 net income on 27 July. We forecast revenue of € 11.2bn, down 12.4% essentially due to the sale of BankWest, the shift to IFRS 17 in insurance and a normalisation of revenue at CIB. Our revenue forecast is in line with the consensus, with our slightly higher estimate for CIB offset by lower revenues at the corporate division, which includes a cost of coverage for TLRO of € 0.4bn and provision...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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