In a board of directors meeting held Wednesday, BNP Paribas has reported sharp improvements in its first quarterly report of 2006 in several key areas over the levels it reported this time last year
The group posted a 21.7% increase over its 2005 first quarter income, bringing in 6,817 million. Excluding BNP Paribas Capital, net banking income grew 28.1%. The groups gross operating income reached 2,955 million, rising 20.1% from 2005 first quarter totals.
The BNP Paribas has reported that this positive growth comes as a result of a combination of vigorous organic growth and the selective acquisition strategy implemented by the group.
At 57.4%, excluding BNP Paribas Capital, the cost/income ratio improved by 2.4%, and net income group share also rose from 2005 first quarter totals by 17% percent to 2,013 million.