BNP Paribas (BNPZY.OB): Weakness in investment banking weighs on Q1 net profit which falls 45%...

|About: BNP Paribas ADR (BNPZY)|By:, SA News Editor
BNP Paribas (BNPZY.OB): Weakness in investment banking weighs on Q1 net profit which falls 45% Y/Y to €1.58 — analysts expected €1.38B. Revenues rose 1.7% to €10.06 despite a 21% decline in investment banking. Provisions for bad Italian debt jumped 35%. Firm also says cost cutting measures (aimed at eliminating €2B in costs annually by FY15) are on track.