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

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.

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