The trading bonanza that has lifted large lenders throughout the Covid-19 pandemic led to a near 60% surge in fixed income revenues at BNP Paribas in 2020, but the bank warned that it is unlikely to continue in 2021.

The French bank made €5.7bn in 2020 in its fixed income division, a 59% increase on the previous year, which helped lift its global markets unit by 22% to €6.8bn.