Bank of France profit increased to 2.56 billion EUR
From the Bank of France reported today that the net profit for 2010 rose by 86 million to 2.56 billion EUR. Finally was decided that, the bank will pay 1.56 billion dividend to the state. The central bank explained that the revenues were supported by growth in the volume of investment, after the amount of euros in circulation has increased. Revenues also increased due to the rising income from the long-term investments that are part of the response to the eurozone financial crisis. The impact of international currency markets has been modest, since the average value of the euro has dropped to 1.33 dollars in 2010 from 1.39 dollars in 2009.
The bank is having special management program to decrease the outcomes and spendings over the wages and bonuses, but together with this realized good loan policy. The bad loans of the bank decreased with more than 55% and the risk management is stabilizing the financial conditions of the institution. Also as it was mentioned before the bank has good long-term investments, which repaid and were successful.
Carrefour with 82 million USD profit for the half year
The French retail chain retail Carrefour has issued a profit in the first half of 2010. This is mainly due to the good performance of emerging markets, which offsets the negative effects seen in Western Europe. Of Carrefour profit was 82 million after the first six months of last year was reported a loss of 58 million. Do sales increased by 5.9 percent to 48.9 billion EUR, reported Wall Street Journal. Operating profit for the first half was 1.1 billion following last year were achieved 1.02 billion. Preliminary expectations were for an operating profit of 1.05 billion. This allows the company, which is the second largest chain of retail sales in the world after the American Wal-Mart, to confirm its forecasts for operating profit in 2010. It is a positive result of 3.1 billion. Over the last six months of Carrefour shares have increased by 1,5 per cent of the exchange in Paris. This presentation is much better than the presentation of the overall market as the main CAC 40 index lost 7.5 per cent for the period.
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