France's biggest bank by market capitalisation, BNP Paribas has posted first-quarter net profit of €1.5b, recovering from a fourth-quarter net loss of €1.37b.
The Group's revenues totalled €9.5b, up 28.2% compared to the first quarter 2008. Operating expenses, which totalled €5.3b, were up 16.1% compared to the first quarter 2008.
BNP got a boost last month when it won shareholder approval to buy some of the main assets of struggling European bank Fortis.
The Fortis transaction will make BNP Paribas the euro zone's biggest bank in terms of deposits.