French lender BNP Paribas reported a worse than expected net profit for its fourth quarter of 2017, falling 1.1 percent to 1.43 billion euros ($1.77 billion) and missing market expectations.
Here are the highlights:
- The bank reported full-year pre-tax profit of 11.3 billion euros ($13.97 billion), up 0.9 percent from 11.2 billion euros in 2016.
- The group's operating income totaled 10.3 billion euros, down 4.3 percent from 10.7 billion euros in 2016.
- Net profit attributable to shareholders was 7.76 billion euros, up 0.7 percent compared to 2016.
Despite the dip in the last quarter, BNP Paribas' Chief Financial Officer Lars Machenil told CNBC that the results were solid.
"If I look at BNP Paribas 2017 these are solid results, in a positive economic environment in Europe," he said.