Its net banking product GNP increased by 4

Hailed as "one of the highest in the world" by Standard & Poor's, the strategy of diversification led by BNP Paribas fully employed. With the acquisitions of recent months, especially BNL, banking net proceeds of the Bank grew by 25, while only organic growth exceeding 6... Exceptionally, the management fees have increased faster than the GDP, limiting the increase in gross operating income to 22.5.

With a cost of risk still very low, the net profit of the group is still increased by 24.9 to EUR 1.675 billion. A performance roughly in line with forecasts but granted yesterday by a decline in the title of 2.03 to 84,45 euros.

Best AMS student

First contributor to the group with a result before tax of EUR 852 million ( 11.5), financing and investment bank fired a lot his pin of the game in an environment less promising than in the first half. Its net banking product (GNP) increased by 4.3 (EUR 1.76 billion) by its Council and markets capital ( 8.6), in particular rate derivatives, while financing activity has accused a decline of 2.8. Management fees remaining controlled (2.9), the coefficient of operation of the pole still declined to 57.

Best student of the class this quarter, pole Asset Management & Services (AMS) rose by 26.7 per cent of its contribution before tax, EUR 361 million. Its GDP increase of 22.3 (34 even insurance!) through a net collection of 9.3 billion euros and an international development supported, especially India. In late September, assets under management reached 476 billion, an increase of 15 over a year.

Consolidated for the first time 100, BNL contributes EUR 197 million to the result before tax of BNP Paribas. Revenues increased 5 excluding exceptional gains from disposals of assets. Its outstanding credit and deposit growth appears indented light compared to the Italian market. Hence the launch of business initiatives to boost sales. In 2006, the bulk of the restructuring of the Italian bank costs will be charged to the fourth quarter (about 150 million per year by 2008).

Booming international pole SFDI, which houses other settlements of the group abroad, saw its revenue swell by 25 (4.2 in pro forma). However, the result before tax remains stable, EUR 615 million, under the effect of a sharp increase in the costs of management (30) and the cost of risk (75). In addition, BancWest GDP, fell by 2.5 in pro forma, the intermediation margin decline requires. A commercial reorganization is underway.

With the control joint LaSer, Cetelem changes size: revenues increase of 42, 46 management costs, and his 53 operating income... Finally, emerging markets are also growing very rapidly of GNP (51), of their management fees (54.7 with 84 agencies open on the quarter), and their operating income (44).

As for Société Générale, retail banking France found a slowing the progression of its revenues in the third quarter ( 2.8 excluding the effects CEL - PEL). This is particularly difficult to pass, because of the competition, the rise of interest rates on credits, the margin of interest remaining virtually stable. The stock of housing credit to individuals grows 16.6 and those for consumption of 7.1. The Bank claims 56.000 openings of accounts to view in the third quarter.