VAR surges, revenues tank at French banks hurt by volatility
Revenues decline €1.2 billion at big four banks' trading arms
Tumbling markets at end-2018 pummelled trading revenues at the largest French banks and sent value-at-risk metrics soaring, with BNP Paribas and Natixis taking the worst punishment.
Fourth-quarter trading revenues at BNP Paribas, Crédit Agricole, Natixis and Societe Generale were €2.1 billion ($2.4 billion), down €1.2 billion (37%) on the year-ago quarter.
Natixis reported an eye-watering 97% fall in like-quarter trading revenues to just €11 million, BNP Paribas a 32% reduction to €650
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