The French bank was looking to calm stockholders' concerns regarding its ability to pay a $9 billion settlement with the U.S. regarding a sanctions violations case, the Wall Street Journal reports.
The settlement brings to a close a U.S. investigation into whether or not BNP violated U.S. money laundering laws by helping clients avoid sanctions relating to Cuba, Iran, and Sudan.
Must Read: Warren Buffett's 25 Favorite Stocks
BNP expected a 10% ratio decline by June 30, which leaves the company in line with most of its European counterparts. BNPQY data by YCharts
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts