BNP Paribas securities services revenues increase on quarterly basis
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BNP Paribas securities services revenues increase on quarterly basis 05 February 2021France Reporter: Maddie Saghir
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BNP Paribas has reported that its securities services revenues came in at €536 million for Q4 2020.
Although global markets and corporate banking revenues saw an increase on a yearly basis, securities services revenues decreased 2.8 percent compared to Q4 2019.
It was also driven by the launch of new and very significant partnerships. Last year also saw BNP Paribas Securities Services partner with CLSA for its multi approved partner broker model for the China-Hong Kong Stock Connect scheme.
Meanwhile, BNP Paribas reveals that custodial services for the private capital sector grew fast with a position as number one in Luxembourg.
According to the Q4 2020 report, assets under custody and administration came in at €13.7 trillion as at 31 Dec 2020, marking a 15.1 per cent increase compared to 30 March 2020, and up 4.6 percent against 31 December 2019 figures.
Commenting on the Q4 2020 results, Jean-Laurent Bonnafé, CEO, says: “The world is now experiencing a health crisis that is unprecedented in its extent and duration. It has tested us, as it has tested all components of our societies. And it has reminded us of the importance of values such as solidarity and inclusion.”
“In 2020 and still today, our main concerns are helping our clients cope with the effects of the health crisis and safeguarding our employees’ health. I would like to thank our teams for having adjusted nimbly throughout the year.”
Bonnafé concludes: “The bank has mobilised all its resources to help our clients whether this crisis and lay the foundation for a solid and sustainable economic recovery. BNP Paribas has been highly resilient, thanks to its diversified and integrated model, its financial solidity, its digital and industrial transformation, and its platforms’ execution capabilities. On the strength of these advantages, we are well positioned to enter a new phase in the development of our activities.”
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