BNP Paribas’s end-of-year report showed that 2021 was a year of strong growth for its assets under custody and assets under administration, as well as its wider securities services
"This consolidates our position as the fourth leading provider of depositary banking services in Spain and as the first depositary bank for independent asset managers in the country," says BNP Paribas' Soledad Lecube
According to BNP Paribas, the increased revenue was driven by the increase in average outstandings and an extraordinary level of transaction volumes, which was up 36.9 percent compared to Q1 2019
The acquisition of the depository banking business represents €22 billion in assets under depositary, according to BNP Paribas Securities Services
Spanish banking group Banco Sabadell has selected AxiomSL to provide automated regulatory reporting services for its Barcelona headquarters
