BNP Paribas' ongoing push into equities trading led to a record quarter for the unit, but its investment bank revenues still shrank by 10% as fixed income dropped sharply.

The French bank made €757m in its equities and prime services unit during the second quarter, ahead of analyst expectations of  €548m and more than double the comparable period in 2020, when French banks were rocked by a slump in equity derivatives revenues.