BNP Paribas reports ‘excellent business drive’ in 2017
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BNP Paribas reports ‘excellent business drive’ in 2017 06 February 2018London Reporter: Jenna Lomax
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BNP Paribas Securities Services has reported “excellent business drive” for 2017.
BNP Paribas’s end-of-year report showed that 2017 was a year of strong growth in assets under custody and assets under administration.
In the report, BNP Paribas reported an 11 percent growth in assets under custody and under administration, compared to 2016’s end-of-year results.
BNP’s number of transactions also showed a growth of 6.4 percent from end-of-year 2016.
The bank also experienced significant rises in revenues, ending the year with €1,955 million, a 7.2 percent increase, compared to end-of-year 2016.
BNP Paribas assigned this growth to new mandates in Europe and Asia.
Last year, the bank announced a partnership with Janus Henderson Investors, which has €138 billion in assets under custody in the US. This transaction is expected to close in Q1 2018.
BNP Paribas’s new products included the launch of a new tri-party collateral management offering.
The board of directors of BNP Paribas met on 5 February to examine the group’s results for Q4 2017.
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