The wealth and asset management business of BNP Paribas has reported pre-tax income of 158 million (US$216.58 million) for the third quarter of 2013, a decline of 11% from 178 million (US$244 million) in the year ago quarter.
For the quarter ended 30 September 2013, the division’s revenues declined 1.6% to 671 million from 682 million reported in the third quarter of 2012.
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The division’s operating income declined 6.7% to 151 million from 162 million a year ago.
As at 30 September 2013, assets under management (AuM) in wealth management and asset management divisions were 279 billion and 368 billion respectively.
Overall, the French banking group’s net income in the third quarter of 2013 rose 2.4% to 1.36 billion from 1.33 billion a year ago. Revenue fell 4.2% to 9.3 billion.
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