BNP Paribas’ wealth management division had
€4.7bn ($7bn) of client asset inflows in the first quarter of 2011
due to asset gains in European markets and in Asia.

BNP Paribas said the boost came from a good
performance in Asia and gains from its partnership model introduced
in 2009.

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The French bank’s partnership model matches
BNP Paribas Investment Partners, its dedicated asset management
business and its full range of investment management services, with
private banking clients.

Retail banking, which includes private banking
in France, Italy and Belgium, recorded pre-tax income of €1.6bn – a
25% gain.

Private banking assets under management (AuM)
in its Benelux business grew 9% compared to the same quarter last
year.

BNP Paribas reported total AuM of €904bn at
the end of March 2011 but did not split out its wealth management
AuM.

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In March 2011 BNP Paribas reported private
banking assets of €254bn.