BNP Paribas, France’s biggest commercial bank, released an annual income report for 2012. The net income boosted by 8.3% up to €6,553bn during the reporting period. For comparison sake, in 2011, the bank earned €6,050bn.
As for the banks’ proceeds, it declined by 7,8% down to €39,072bn in 2012.
In Q4 2012, BNP Paribas saw its net profit decline by 32.8% down to €514 million. In 2011, it was €765 million.
The recent decline is explained by write-downs of on-material assets. In particular, the write-down in the bank’s Italian office cost €298 million. The bank also reevaluated its debt. As a result the debt increased by €286 million.
The chart below, courtesy of , reflects the current state of affairs in the market of AVT.LS:
