French lender BNP Paribas is not looking to merge with other banks despite some challenges at its corporate and institutional banking arms, its chief financial officer told CNBC Wednesday.
The bank reported full-year net income of 7.53 billion euros ($8.57 billion) for 2018, a 3 percent drop compared to 2017. But that beat analyst estimates who were expecting a figure of 7.43 billion euros for year, according to Refinitiv survey.
Chief Financial Officer Lars Machenil told CNBC's Julianna Tatelbaum that "overall net income held up well, but there was, indeed, the unfavorable market environment in particular at the year end." BNP Paribas reported a net income of 1.44 billion euros for the fourth quarter, compared to 1.42 billion euros during the same period the year before.