BNP Paribas In Weak Spots; Santander Faces Headwinds

Societe Generale assigns a Stable rating on BNP Paribas SA (EPA:BNP) (OTCMKTS:BNPQY), despite facing weak spots in retail networks while Banco Santander, S.A. (ADR) (NYSE:SAN) (MCE:SAN) gets a Negative rating as the bank faces several headwinds.

BNP Paribas gets stable rating

Brajesh Kumar and the team of Societe Generale note BNP Paribas SA (EPA:BNP) (OTCMKTS:BNPQY) second quarter net profit reports are ahead of consensus. However, BNP Paribas experienced several weak spots at its retail networks in France, Italy and Belgium, as the retail networks experienced escalating cost of risk. The bank’s retail performance was up 5.2 percent thanks to gains from the sale of Egypt’s...