BNP Paribas enjoys positive Q1 03 May 2017 Paris Reporter: Drew Nicol
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BNP Paribas chalked up a 10.1 percent increase in its assets under custody year over year for Q1.
Assets under custody now stand at €8.94 trillion, while its assets under administration also rose by 18.4 percent to €2.1 trillion.
As part of its Q1 report, BNP Paribas revealed that its securities services revenue was up 8.5 percent, to tip the scales at €478 million, compared to the same time last year. The bank attributed the growth to “good business development”.
The French custody bank secured new custody mandates in Q1, with Mapfre and Actiam adding €60 billion and €56 billion in assets, respectively.
BNP Paribas recently laid out its ambition to increase revenue from securities services to €2.2 billion by 2020.
The pledge was revealed as part of its recent investor day, with a list of expanded service offerings proposed.
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.
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