BNP Sees Surprise Profit Gain, Remains Cautious on Iran

BNP Paribas SA posted a surprise increase in first-quarter profit, with declining provisions for bad loans helping outweigh a slump in trading revenue. Net income advanced to 1.81 billion euros ($2.1 billion) from 1.65 billion euros a year earlier, the Paris-based bank said in a statement Tuesday. European companies flocking back to Iran are doing so without their favored lenders at their side. Less than two years after BNP agreed to pay a record $9 billion U.S. fine in part for dealings with Iran, many of the continent’s biggest banks remain unwilling to go anywhere near Iran-related business for fear that they will run afoul of remaining U.S. sanctions on the country. Bloomberg's Caroline Connan speaks to the bank's Chief Financial Officer Lars Machenil.

Ping An Insurance Hikes Dividend
22:28 - Ping An Insurance has announced a higher dividend after profit rose by more than 6%. Bloomberg Intelligence's Steven Lam discusses the earnings on "Bloomberg Daybreak: Asia." (Source: Bloomberg)
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