The wealth and asset management business of BNP Paribas has posted pre-tax income of EUR176m for the fourth quarter of 2014, a marginal rise of 1.73% versus EUR173m a year ago.
However, quarterly revenue declined to EUR716m from EUR723m in the fourth quarter of 2013 due to the impact of a one-off provision in asset management.
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The wealth and asset management business’ operating income was EUR145m, down from EUR163m a year earlier.
Overall, BNP Paribas group’s fourth quarter net profit rose to EUR1.3bn, compared with EUR110m a year ago even as it set aside EUR798m to cover potential US penalties.
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