BNP Paribas has posted a 22.9% decrease in net income to €573m ($570.6m) for the third quarter after making provisions of €244m for the decrease in value of its equity investment portfolio.

The French bank said in a statement: "Taking into account the extremely volatile equity markets, the group, in addition to its usual provisioning, set aside additional provisions for various listed equity investments and, moreover, globally reallocated the reserve for potential sectorial risks (€218m) to cover the portfolio."