BNP Paribas saw revenues from its separate Securities Services unit rise 15.4% year-on-year to €440 million in Q1, as a result of increased custody business.
Assets under custody jumped 27.3% to €8.3 trillion, while the number of transactions serviced by BNP Paribas increased 20.5% to 18.2 million.
In addition, revenues from equity and prime services within its Corporate and Institutional Banking unit also increased 13.6% €720 million as a result of “significant volumes in flow business and sustained demand for structured products,” the bank states.
The results in prime finance for BNP Paribas comes in contrast to other leading investment banks such as Credit Suisse and Bank of America which saw disappointing prime brokerage revenues in the quarter.
BNP Paribas Securities Services Revenue Jumps 15% in Q1
BNP Paribas saw revenues from its separate Securities Services unit rise 15.4% year-on-year to €440 million in Q1, as a result of increased custody business.
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