Paris - Stung by the impact of the global financial crisis, French bank BNP Paribas said its profits for the third quarter of 2008 had fallen significantly compared to the same period last year.
Third-quarter profits stood at 901 million euros (1.16 billion dollars), down 55.6 per cent from 2007, BNP Paribas said in a statement.
The loss was attributed to "a direct impact of the financial crisis," which the bank estimated at 1.1 billion euros.
Turnover fell by a more modest 1 per cent, to 7.614 billion euros, compared to the third quarter of 2007.
"The direct impact of the financial crisis was significantly greater than in previous quarters," the bank said.