Equities cushion bond blow for BNP Paribas

摘要

Buoyant demand for equities and advisory helped to cushion the blow of a poor quarter in bond trading and corporate banking for bnp paribas in the first three months of the year, with revenues at its investment bank down just 5.4% despite another double-digit decline in fixed income. The equities and advisory business put in its best performance in almost three years, with revenues up 47% from a year ago to €584m on the back of strong growth in Asia, demand for structured products and an uptick in merger and acquisition activity in its home European market.