BNP Paribas’ VAR soars 17% after brutal Q4

Equity revenues fall 70% on year-ago quarter

Heightened volatility in equity markets during the fourth quarter lashed trading revenues at BNP Paribas and sent its value-at-risk metrics soaring.

The bank’s average VAR jumped 17% to €27 million ($31 million) over the three months to end-December, its highest level since the second quarter of 2017. Over the same period, revenues generated by the global markets division, the bank's trading hub, fell 43% to €650 million.

The effects of the fourth-quarter turbulence rippled through the bank’s

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