18 Feb 2010

Quarterly profit reported by BNP Paribas

6:04 am on 18 February 2010

French bank BNP Paribas made a profit in the three months to December last year.

Net profit was 1.37 billion euros ($US1.89 billion) - compared to a loss of an almost identical amount in the same period a year earlier.

For 2009, the bank made total profits of 5.83 billion euros - up by 93% from 2008.

The BBC reports BNP Paribas was bailed out by the French government at the height of the financial crisis in March 2008. It repaid 5.1 billion euros in state loans and 226 million euros in accrued dividend in October.

BNP said that loans to the French economy increased by 3.7% for 2009 compared to the previous year.