BNP Paribas planning more savings to offset squeeze on revenue

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BNP Paribas is planning more cost savings in its upcoming 2017-2020 strategy announcement to offset the squeeze on revenue from low interest rates, and may consider raising the proportion of earnings it pays out in dividends.

Reuters reports that the bank stole a march on domestic rivals in the third quarter as a bond trading boom that has helped Barclays and some U.S. banks played to its strengths and helped it offset the impact of low interest rates on retail banking to beat profit forecasts.

Chief Operating Officer Philippe Bordenave said in an analyst call on Friday the bank's corporate and institutional bank was winning market share in Europe and the United States, and maintained it in Asia.

BNP, which said it ranked No. 1 in euro bond issuance and No. 9 for all international bonds, said it had seen a pick-up in fixed income, currencies and commodity (FICC) in Europe and the Americas after a lacklustre start to the year.

To access the complete Reuters article hit the link below:

BNP Paribas plans more cost cuts, may lift dividend payout

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