BNP Paribas reported a stronger third quarter on Wednesday, with net income attributable to the group rising 13.5% year on year to €3.456 billion. The French bank also announced a €1.3 billion share buyback programme scheduled to begin in November.
Revenue increased 9.5% to €13.757 billion, ahead of analysts’ expectations. Operating income rose 17.7% to €5.741 billion, while the bank’s corporate and institutional banking division recorded a 16.6% increase in revenue, supported by stronger market activity.
The buyback has received European Central Bank authorisation and is due to start on 2 November. BNP Paribas said the shares acquired under the programme would be cancelled. The announcement comes as European lenders report quarterly results amid volatile markets and renewed scrutiny of sovereign-bond exposure.
The group’s Common Equity Tier 1 capital ratio stood at 12.9% at the end of September. BNP Paribas expects the ratio to exceed 13% by year-end and reaffirmed its main financial targets for 2026 and 2028.
The results were above analysts’ average profit forecast of €3.23 billion. The bank attributed the improvement to performance across its main business divisions, although credit-risk costs also increased compared with a year earlier.
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