BNP Paribas Hikes Provisions as Geopolitical Risks Mount

BNP Paribas SA’s disclosed first-quarter credit provisions that were worse than expected, with the possibility of an impasse over Iran prompting the lender to set aside more money.

The French bank said in a statement Thursday it had set aside €922 million ($1.1 billion) during the period, worse than the consensus forecast of €888 million. Some of that came from “forward-looking provisions related to the geopolitical environment,” it said.