BNP Paribas, which brought forward its results following turbulent market conditions and a â¬4.9bn ($7.2bn) fraud at its arch-rival Société Générale, said revenues at its corporate and investment banking division dropped by a third during the fourth quarter after it took writedowns of â¬589m relating to the the credit crisis.
The bank estimated its corporate and investment banking revenues were â¬1.4bn in the three months to the end of December, compared with â¬2bn for the same period in 2006.
