BNP Paribas posted net income of €2.1bn
($2.7bn) for the second quarter of fiscal 2010 helped partly by the
bank’s wealth and asset management division.
Net income for the investment solutions unit
of BNP Paribas, which includes the wealth management and asset
management divisions, rose 42.6% to €473m, compared to the first
half of 2009.
Specifically under wealth and asset
management, pre-tax income was €233m, a 26.6% rise on the first
half of 2009.
BNP Paribas’ total assets under management
stood at €874bn at the end of June 2010, representing an 11%
percent hike on the year-ago period, but flat compared to the first
quarter of 2010.
But net asset inflows fell to €4.4bn in the
second quarter of 2010, although the bank said private banking
performed well in domestic regions.
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