French bank BNP Paribas says first quarter net profit falls 21 percent, less than expected

PARIS: French bank BNP Paribas SA said Wednesday its first-quarter net profit declined by 21 percent as the global credit crisis hurt profit at its corporate and investment bank.

France's largest bank beat expectations to post a net profit for the quarter of €1.98 billion (US$3.06 billion), down from €2.51 billion in the same period a year earlier.