BNP Paribas reports strong business drive, particularly for private capital

BNP Paribas has published its full year results for 2023.

The global financial services company reported continued successful business drive, particularly in private capital, and average outstandings up with the market rebound in the final quarter.

The firm’s distributable net income is up by 10.2 per cent year-on-year (YoY) to €11,232 million, in line with its 2023 objective.

Securities services revenues were up by 4.1 per cent to €2,691 million, driven by the favourable impact of the interest rate environment and the effect of the increase in average assets.

Transaction volumes contracted due to more moderate volatility.

The bank reported an increase in assets under custody (AuC), rising from €13.4 billion to €14.9 billion YoY.

Asset volumes under administration (AuA) also rose €0.2 billion YoY to €2.5 billion in 2023.

This comes on the back of a positive business momentum and a supportive environment, said a bank spokesperson, amid a gradual normalisation of the interest-rate environment.