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February 15, 2012updated 04 Apr 2017 3:43pm

Asset inflows boost for BNP Paribas

BNP Paribas reported asset inflows of 3.5bn ($4.58bn) in private banking as at 31 December 2011, up 9.4% compared to the same period in 2010. The rising inflows in 2011 for BNP Paribas private banking business essentially came from in its domestic markets and in Asia. The banks investment solutions division, which includes private banking as well as asset management, insurance, real estate and securities services reported pre-tax income of 1.57bn in 2011 down 20.6% compared to 2010.

By Thomas McMahon

BNP Paribas reported asset inflows of €3.5bn ($4.58bn) in private banking as at 31 December 2011, up 9.4% compared to the same period in 2010.

The rising inflows in 2011 for BNP Paribas’ private banking business essentially came from its domestic markets and in Asia.

The bank’s investment solutions division, which includes private banking as well as asset management, insurance, real estate and securities services reported pre-tax income of €1.57bn in 2011 – down 20.6% compared to 2010.

Domestic private banking generated one-third of the net income for BNP Paribas’ investment solutions business in 2011.

In terms of its action plan for 2012, the bank said its investment solutions business would bolster its presence in fast-growing markets like Asia Pacific, and particularly its wealth management and securities services business units.

Société Générale  results

In a separate development, Société Générale reported that its private banking revenues increased by 9% in 2011 compared to 2010.

The financial institution said assets under management (AUM) in its private banking business rose to €84.7bn in December 2011, an increase of €200m on the year before.

This compares to an increase of €9.1bn in (AUM) between December 2009 and December 2010, and €8.5bn for the same period between 2008 and 2009.

 

 

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