FRANCE - French banking group BNP Paribas has issued a Q2 profits warning, less than two weeks before it presents its full results. The group cited "exceptional turbulences currently affecting financial markets" as the reason behind the move. Net income nudged EUR1.0bn, a decrease of 13% on the same period last year. Net banking income for the quarter was approximately EUR4.1bn, a decline of just under 6 % compared to Q2, 2001.
Gross operating income was EUR1.4bn, 16% below the same quarter last year. Whilst the level of provision charges for the quarter was about EUR 0.3bn, in line with expectations. The group’s return o...
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