BNP Paribas’ wealth and asset management arm has registered a pre-tax income of EUR170m for the first quarter of 2015, a rise of 3.7% compared to EUR164m in the corresponding quarter of 2014.
Quarterly revenue increased 5.2% to EUR723m from EUR687m a year ago, mainly driven by the good business of wealth management in domestic markets and in Asia, as well as a rise in asset management.
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Wealth and asset management business’ operating expenses rose 5.8% to EUR563m from EUR532m in the year ago quarter. The rise was triggered by continued business development investments, which included wealth management in Asia and real estate services.
Overall, BNP Paribas group posted net income attributable to equity holders of EUR 1.64bn for the first quarter, up 17.5% compared to EUR1.40bn a year ago.
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