The wealth and asset management arm of BNP Paribas has posted a pre-tax income of EUR356m for the first half of 2015, a decrease of 5% compared to EUR376m in the corresponding half of 2014.

For the first half ended 30 June 2015, the division’s revenue increased to EUR1.48bn from EUR1.41bn in the year ago period.

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During the period, wealth and asset management business’ operating expenses rose to EUR1.14bn from EUR1.06bn in the first half of 2014.

Operating income declined to EUR330m from EUR345bn in the year ago period.

Overall, BNP Paribas group posted pre-tax income of EUR6.24bn for the first half, compared to loss of EUR1.32bn in the first half of 2014.

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