BNP Paribas aims for €2 billion+ revenue 25 April 2017Paris Reporter: Mark Dugdale
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BNP Paribas is aiming to increase its revenue from securities services to €2.2 billion by 2020.
The French custody bank revealed the aim as part of its recent investor day, with a list of expanded service offerings proposed.
Securities services revenue at BNP Paribas has increased from €1.4 billion in 2013 to €1.8 billion last year.
BNP Paribas is aiming to offer joint global markets and securities services solutions for institutional clients in a bid to boost revenues, as well as offer multi-asset outsourcing to the sell and the buy sides, and leverage digital technology to increase client value.
It also wants to expand its footprint in China and the US, where it was recently selected as the local custodian for Raiffeisen Bank International’s $3.2 billion domestic portfolio.
Stefan Wallner, head of network management at Raiffeisen Bank International, said of the mandate: “BNP Paribas Securities Services’s international presence and global operating model were key to our decision to appoint them as our local US custodian.”
He added: “We were also impressed with the quality of BNP Paribas’s corporate actions services and the expertise and commitment of the team.”
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