BNP Paribas Sees $983 Million Earnings Hit From BNL Goodwill
- France's biggest bank sets aside more capital for Italian unit
- Lender maintains plan to pay out 45% of profit in dividends
This article is for subscribers only.
BNP Paribas SA wrote down the goodwill related to its Italian corporate and consumer banking unit, which will cut fourth-quarter earnings by about 900 million euros ($983 million).
France’s biggest bank is setting aside more capital for its BNL division, the lender said in a statement on Wednesday. The charge will have a positive effect on regulatory capital and the bank reiterated it plans to pay 45 percent of profit in dividends.