BNP Reports

BNP Paribas yesterday reported its fourth quarter and full year figures with the following highlights:-

·      Its writedown on Greek sovereign bonds was written down from 60 to 75 per cent generated an impairment charge of € 3.5 billion for 2011;

·      Fourth quarter profits were down 51 per cent on last year at € 765 million;

·      The net profit for 2011 was down 22 per cent at € 6 billion;

·       Exceptional charges included € 872 million on the sale of sovereign bonds and € 152 million on the sale of loan portfolios.