Sale of U.S. retail division yields 2.95 bln euros
Outperforms some peers in securities trading
Confirms 2025 outlook

PARIS, May 3 Reuters BNP Paribas39;s firstquarter sales beat market expectations as trading business at the eurozone39;s biggest bank outperformed most of its peers, while it started to reap the benefits from rising interest rates.

BNP39;s quarterly profit more than doubled in the first quarter from a year earlier, bolstered by gains from the muchanticipated sale of its U.S. retail division, allowing the bank to beef up its capital and liquidity buffers at a time when lenders strive to restore confidence in a sector hit by turmoil.

Revenue of just over 12 billion euros 13.20 billion in the period exceeded the company39;s compiled consensus of 11.7 billion as net interest income ticked higher in the usually difficult French retail market, the bank said on Wednesday.

Analysts at Deutsche Bank called BNP39;s quarterly report solid, while Royal Bank of Canada analysts said the results pointed to a strong performance at BNP39;s trading arm and good cost control.

Shares stood flat at 1120 GMT, after edging up and down in early morning trade.

BNPP 1Q23 results are difficult to navigate, but overall slightly ahead of expectations on higher revenues and lower provisions, Jefferies analysts said in a note.

In securities trading, revenue edged down 1.8 but still performed better than some peers including Deutsche Bank, which saw fixedincome trading…