BNP Paribas’ acquisition engine is powering its growth. The trick is to keep the benefits of expansion without the kind of sprawl-induced malfunction that has hurt rivals.
The French bank’s active merger machine helped it crank out resurgent second-quarter earnings. They rebounded to 2.6 billion euros ($2.84 billion) from a 4.2 billion euro loss a year ago, following a U.S. mega-fine for sanctions-busting. Revenue growth in the three months to June benefited from last year’s acquisitions of German online broker DAB Bank, consumer finance group LaSer and Polish bank BGZ.