BNP Paribas sees Q2 success 31 July 2017Paris Reporter: Jenna Lomax
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BNP Paribas has seen a 10.7 percent increase in assets under custody, reporting a total of €9 trillion at the end of Q2 2017, compared to €8.1 trillion in Q2 2016.
This can partially be attributed to a new custody mandate from the Asian Infrastructure Investment Bank, totalling €18 billion.
Assets under administration saw a 17.9 percent increase compared to Q2 last year, from €1.86 trillion to €2.19 trillion by Q2 2017.
The number of securities services transactions were up 6.5 percent from €21.5 million at Q2 2016 to €22.9 million in Q2 2017.
The report also revealed that for the first half of 2017 security service revenues were up by 8.2 percent versus the same period last year.
Securities services revenues totalled €975 million at the end of June 2017, a rise of 8.2 percent year-on-year.
The report suggested that the positive securities services results was an “effect of the rise in volumes and of the new mandates”.
In July, BNP Paribas was also chosen by Mirae Asset Securities for global custody services in the Americas, Europe and Asia.
Florent Thiry, head of the financial intermediaries and corporates client line in the Americas at BNP Paribas, said: “[The choice] demonstrates the strength of our offering in the US, where we have been expanding our presence, and our commitment to this market.”
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