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(Sharecast News) - French banking group BNP Paribas posted strongerthanexpected fourthquarter earnings on Thursday as chief executive JeanLaurent Bonnaf pushed ahead with efforts to lift a share price that has long trailed European peers.
BNP delivered net profits of 2.97bn for the three months ended 31 December, ahead of the 2.86bn expected by analysts, with revenue coming in higher than forecast and credit provisions lower, though costs were slightly above estimates.
Alongside the beat, BNP Paribas raised its mediumterm ambitions, lifting its 2028 returnontangibleequity target to above 13% as it unveiled a fresh 600m costsaving plan for 2026, focused on support functions, as it looks to improve efficiency and profitability.
BNP's CET1 ratio stood at 12.6% at yearend, a touch below consensus expectations but still comfortably above regulatory requirements. In markets, fixedincome trading outperformed forecasts in the quarter, while equities trading fell short of expectations.
"Building on our 2025 results and a structurally favorable interest-rate environment, we confirm our 2026 objectives and are raising our 2028 objectives," said Bonnaf.
As of 1045 GMT, BNP shares were up 3.63% at 94.23 each.
Reporting by Iain Gilbert at Sharecast.com
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