BNP Paribas CIB comes down from early-2012 highs but has cut costs
Revenue in BNP Paribas’s Corporate and Investment Banking division fell to €2.46bn in the first quarter, down 21% year-on-year. The busy markets of early 2012, boosted by the European Central Bank’s long term refinancing operation, were the main reason for the decline, BNPP claimed.
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