Revenues at BNP Paribas’ corporate and investment bank took a hit in the first quarter, as both the French bank’s advisory and trading units delivered lacklustre performance during the first three months of 2013.

In its results for the period, released this morning, BNP Paribas reported that revenues at its corporate and investment bank fell by 21% to €2.5bn, compared with the first quarter of last year. Pre-tax profits in CIB, at €806m, were down 30% year-on-year.