BNP Paribas beats third-quarter expectations, boosts capital

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November 7, 2012 5:14 PM EST

French bank BNP Paribas posted forecast-beating third-quarter results on the back of strong capital-markets trading and a drop in euro zone losses, helping it meet balance-sheet targets ahead of schedule.

France's No. 1 bank said on Wednesday its third-quarter profit had more than doubled to 1.32 billion euros ($1.69 billion) from 541 million in the same period a year ago. The mean of 10 analyst estimates was 1.18 billion.

BNP said its closely watched core capital ratio under tougher Basel III rules stood at 9.5 percent at end-September, a fresh high that puts it ahead of rivals like UBS and Bank of America sooner than expected.

($1 = 0.7812 euros)

(Reporting by Lionel Laurent and Matthias Blamont; Editing by James Regan)

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Copyright 2012 Thomson Reuters UK. All rights reserved.

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