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IPE special report May 2018

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BNP Paribas sees asset management rebound

FRANCE – BNP Paribas has reported third quarter net operating income rose 34.4% and amid a continued rebound for its asset management and services businesses.

The positive performance of BNP Paribas’ asset management and services core business is attributed to “stabilised equity markets”. Net banking income for the businesses rose 19.5% compared to the same period in 2002, and gross income rose 38.1% to 214 million euros.

During the third quarter, the asset management and services sector received 3.6 billion euros in new net inflows, which, says BNP Paribas, “was consistent with the business’ goal.” Assets under management at the end of the third quarter were 273 billion euros, compared to 268 billion euros at the end of the previous quarter.

Breakdown of assets under management is as follows: 35% in bonds, 31% in monetary assets, 14% in equities, 11% in guaranteed and structured assets and nine percent in diversified assets.

Compared to the breakdown of assets under management at the end of the third quarter the previous year, allocation to bonds and guaranteed and structured assets has increased, while allocation to equities and diversified assets has decreased.

BNP Paribas Asset Management also saw its rating by Fitch raised this week to AA+. The upgrade was “a reflection of the reinforcement in BNP PAM’s organisational structure, the improvements in its risk control system and the optimisation of transaction processing”.

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