French bank BNP Paribas has seen first quarter net profit fall by 22% to 2.03bn euros ($2.7bn; £1.6bn).
It came during what the bank said was "economic slowdown in the eurozone".
But net profit after exceptional items rose 9.6% to 2.86bn euros, boosted by the sale of a 29% stake in investment fund Klepierre for 1.5bn euros.
BNP Paribas also said it continued to reduce holdings of government bonds in struggling eurozone nations such as Greek, Ireland and Portugal.
However, it lost 142m euros on its sale of sovereign bonds.
The bank has also cut its holdings of French government bonds by a quarter to 10.3bn euros.
Chief executive Jean-Laurent Bonnafe said the group had seen a "good operating performance with growing business activity in domestic markets and good performance of capital markets".
The bank's Tier 1 capital ratio, an indicator of its ability to handle losses, rose to 10.4% from 9.6%.
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