BNP Paribas reveals positive AUC figures for 2019 06 February 2020London Reporter: Maddie Saghir
Image: Shutterstock
BNP Paribas Securities Services has revealed that assets under custody and administration showed positive movement in 2019 as the bank revealed an increase of 12.2 percent compared to 31 December 2018.
BNP Paribas explained that this was due, in particular, to the integration of Janus Henderson’s assets in the US since the end of March.
Assets under custody stood at €10.6 trillion, a 13.3 percent increase on 31 December 2018, while assets under administration were €2.5 trillion, which highlights an 8.1 percent increase versus the year prior.
BNP Paribas also revealed that services’ revenues were up 0.9 percent in 2019, standing at €2.2 billion, compared to the year prior.
BNP Paribas explained that this was as a result of asset growth, which was up 8.2 percent on average compared to 2018; transaction growth which increased 2.3 percent on average; and strong growth in the Asia region, which saw an 18 percent rise compared to 2018.
Looking to the 2020 objectives, BNP Paribas anticipates continuing to grow business in all the operating divisions, by leveraging a strong business drive and the contribution of the diversified and integrated model.
It was also forecasted that BNP Paribas will be able to leverage an ‘ever more efficient and more digital operating model serving customers and employees’.
Commenting on these results, Jean-Laurent Bonnafé, CEO of BNP Paribas, stated: “With a net income of €8.2 billion, BNP Paribas achieved a very good performance in 2019 thanks to its good business drive and the effects of its transformation.”
“BNP Paribas confirms the strength of its diversified and integrated model. The way the group operates has changed, being more efficient and digital for our clients and employees.”
Bonnafé added: “The group is actively executing its ambitious policy of engagement in society with the ambition of being a leader in sustainable finance. I would like to thank all the group’s employees who have been mobilised for these good results.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: Shutterstock 