BGL BNP Paribas net profit nearly doubles
(CS) The net profit at Luxembourg bank BGL BNP Paribas nearly doubled between the first half of 2012 and the same time this year, with a significant increase in net banking income and a fall in operating expenses.
In the first half of 2013, the bank reported a net profit (excluding minority interests) of 211.1 million euros, up from 109.2 million euros over the same time in 2012.
Net banking income meanwhile stood at 737.2 million euros at the end of June 2013, compared to 455.7 million euros last year.
The bank was also able to reduce its operating expenses by 6 percent. However, a change in consolidation method led to an overall increase in expenses from 280.7 million euros in the first half of 2012 to 332.9 million euros in the same time this year.