The group gave relatively few details of its wealth management operations in the results.

Pre-tax income came to €2.638 billion, up 3.4 per cent; net income attributable to equity holders was €1.814 billion, up by 10.1 per cent.

BNP Paribas said revenues “held up well” in its operating divisions, with some exceptions. Domestic markets revenues slipped 0.7 per cent because of a fall in financial fees; international financial service revenues also fell 0.7 per cent. However, revenues fell 18.9 per cent in corporate and investment banking because of a sharp decrease in the revenues of the global markets segment.

Operating costs, at €7.627 billion, fell 2.3 per cent year-on-year.