BNP Paribas SA (BNP), France’s largest bank, posted a 13 percent drop in second-quarter profit as Europe’s debt crisis curbed trading revenue.
Net income dropped to 1.85 billion euros ($2.26 billion) from 2.13 billion euros a year earlier, the Paris-based company said in a statement today. That beat the 1.65 billion-euro average estimate of seven analysts surveyed by Bloomberg.
Chief Executive Officer Jean-Laurent Bonnafe, who took over last year, has embarked on asset cuts to comply with stricter capital rules, mirroring similar moves by other large European banks. The French firm’s goal of a 9 percent core capital ratio under Basel III rules has been “virtually” achieved by the end of June, six months in advance, Bonnafe said in the statement.
SABIC unveils 'Archi-Light Concept House'
SABIC unveiled the 'Archi-Light Concept House' at the official opening ceremony of Chinaplas 2013. Archi-Light is a themed exhibition within the larger show, which focuses on environmentally friendly
KFH-Malaysia takes part in IFSB meetings
KFH-Malaysia took part in the meetings held by the Islamic Financing Services Board (IFSB) that have been hosted by the Malaysian Central Bank recently in the Malaysia capital.
NBK Capital exits Turkey hospital chain
NBK Capital, a leading bank in Kuwait, has announced the sale of its equity stake in Dunya Goz, Turkey’s largest ophthalmology hospital chain, to the founding shareholder.