Shares in BNP Paribas gained ground after first-quarter net profit rose 22%, boosted by capital gains on some disposals and an unexpected strong performance of its fixed-income business.

Net profit for the period was €1.9bn ($2.15bn) compared with €1.6bn a year earlier. The sale of 14.3% of SBI Life Insurance — BNP’s Indian joint venture with the State Bank of India — boosted the bottom line, France’s largest listed bank by assets said Thursday.