BNP Paribas Securities Services revenue rises 01 August 2018Paris Reporter: Brian Bollen
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BNP Paribas Securities Services revenue rose by 3.9 percent Q2 this year compared to the second quarter in 2017, hitting €517 million, according to the bank.
BNP Paribas said these results was due to “good business drive and the positive effect of new mandates”.
Assets under custody and under administration were up 2.0 percent compared to 30 June last year; the number of transactions rose by 5.9 percent compared to the same quarter last year.
It added that the business implemented its digital transformation with 30 automated processes under production and a further 44 in development.
It also conducted several blockchain initiatives in partnership with other market players to facilitate in particular small and mid-size securities transactions and fund distribution.
BNP Paribas said that the business also continued to win significant new mandates, among them a major agreement with DWS for €240 billion in assets in Germany and Luxembourg.
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