Wednesday, February 20, 2008

BNP Paribas confirms 42% drop in profit

BNP Paribas confirms 42% drop in profit

By Simon Kennedy
Last update: 3:16 a.m. EST Feb. 20, 2008
LONDON (MarketWatch) -- BNP Paribas (FR:013080) on Wednesday reported a 42% drop in fourth quarter net income to 1.01 billion euros, in line with preliminary results it announced at the end of January. The result includes 589 million euros in depreciation and fair value adjustments and 309 million euros in provisions directly related to the credit crisis.
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