Shares in French bank BNP (FRA40:BNP) continued to push higher last week after a record quarter for earnings.

BNP shares can continue toward the resistance at the record high of near 82 if the market remains healthy.
France’s BNP Paribas released its first-quarter earnings recently, which met expectations due to rising sales in its investment banking segment. The company also stuck to its profit forecasts despite a weaker economic outlook from a global trade war.
The eurozone’s largest bank by assets said on Thursday that net income over the first three months of the year fell by 4.9% from a year earlier to 2.95 billion euros ($3.34 billion), against a 2.94 billion forecast.
The French lender’s three main divisions posted an increase in pre-tax income, led by its corporate and institutional banking unit, where sales advanced by 12.5% to a record as financial market turmoil increased client activity. Group revenue increased 3.8% to nearly 13 billion euros, also meeting analyst expectations.
Chief executive Jean-Laurent Bonnafe was positive about the future, saying BNP was well-positioned to benefit from any increased corporate spending created by Germany and the European Union’s big fiscal spending plans.
Despite some economic turmoil, BNP’s CFO Lars Machenil said client companies haven’t been increasing their access to credit lines, indicating risks of cash crunch were low.
If corporate clients “all of a sudden come rushing in with liquidity demands,” that would be worrying, Machenil said. “I don’t see that”.
The bank continues to deliver strong earnings despite weakness in the French economy. GDP grew slightly as stagnant domestic demand and weak foreign trade were offset by companies rebuilding inventories. The euro zone’s second-largest economy grew by 0.1% in the first three months of the year after a slight drop of 0.1% in the fourth quarter of 2024.
Shares look set to test the previous highs if the post-tariffs market stability continues.