BNP Paribas AM unit aided by diversified bonds flows

Revenues in BNP Paribas’s asset management and asset servicing divisions increased in the third quarter compared to the same period last year, which contrasted with a fall for the wider group.

The French bank blamed an “unfavourable foreign exchange effect” for a 1.8% dip in Q3 revenues of €10.39 billion compared to the same quarter in 2016.

Meanwhile, wealth and asset management revenues were up 4.9% to €753 million over the same timeframe.

Assets under management for the asset management division stood at €425 billion and inflows were particularly notable to diversified bond funds, the bank said.

Revenues for the bank’s asset servicing division, BNP Paribas Securities Services (BNPPSS), increased 4.2% to €476 million.

BNPPSS reported assets under custody of €9.3 trillion, a 9.1% increase versus Q3 2016,  and assets under administration were up 19.4% to €2.3 trillion.

©2017 funds europe

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