French banking group BNP Paribas said on Wednesday it was expanding its business in Germany, hiring 500 people over the next three years in a country it considers key to growth in Europe.
The group is targeting about 1.1 million clients and 1 percent market share in individuals' deposits in Germany by 2017 via its new "Hello Bank" online banking brand.
The group posted a 4.7 percent drop in second quarter net profit to 1.76 billion euros ($2.33 billion), above analysts' expectations of 1.6 billion euros forecast in a Reuters poll.
Jean-Laurent Bonnafe, chief executive of BNP Paribas, told CNBC the results were "satisfactory."
(Read more: BNP Paribas CEO 'satisfied' after 45% profit drop)
The result was achieved thanks to resilient revenues in Europe and the ongoing improvement of operating efficiency, BNP said.