Bloomberg reports that BNP Paribas has posted a 47% increase in first-quarter profit, helped by that purchase of certain business units from Fortis.
Net profit came in at $2.93bn. Pre-tax earnings over at the Corporate & Investment Bank came in at $2.19bn, on strong fixed income revenues.The bank has also confirmed that it has a $6.46bn exposure to Greek debt.
In the meantime, The Financial Times reports that Commerzbank has posted its first quarterly profit for almost two years, with net income coming in at $905m. The Corporates & Markets division returned an operating profit of $438m.
Bloomberg also reports that Societe Generale has posted a $1.38bn Q1 net profit, coming in ahead of most analyst estimates. Profit over at the corporate & investment bank came in at $699m in the period. SG also confirmed it had some $4bn in exposure to Greek sovereign debt.
And The New York Times has reported that Lazard has confirmed that it is advising Greece, as the country tries to work its way put of its fiscal difficulties.
Finally, Reuters reports that Schroders has posted a $141.4m pre-tax profit in the first-quarter. Total assets under management rose to $217bn, the highest figure ever.