PARIS: French banking giant BNP Paribas on Friday reported a net profit of 6.7 billion euros for 2015, more than a year after a record fine by US authorities.
The result marks a jump from the 157 million euros ($176 million) reported in 2014, when earnings were hit by the 6.6 billion euro fine by US authorities for breaching embargoes on transactions with some countries, most notably Iran. But it missed the average analyst forecast of 6.9 billion euros collated by FactSet. Like many European lenders, BNP Paribas’s business has been crimped in recent years by low interest rates, higher taxes and stagnant growth in the eurozone.
