BNP reports drop in assets

BNP Paribas has recorded a 2.7% drop in its assets under custody (AUC) in its Q1 2016 figures.

AUC stood at €8.1 trillion compared to €8.3 trillion at the end of Q1 2015 despite a 16.1% increase in the number of transactions which included a mandate with Sampo to provide custody services for €25 billion of insurance assets.

In other results, assets under administration stood at €1.7 trillion representing an 11.5% increase from Q1 2015 while overall revenues rose by 0.3% to €440 million.

“In a particularly unfavourable market environment, the Group’s revenues held up well thanks to the diversity of its geographies and businesses, all focused on serving clients,” said director and chief executive officer of BNP Paribas Jean-Laurent Bonnafé.

“The Group’s balance sheet is rock-solid and the rise in the fully loaded Basel 3 common equity Tier 1 ratio to 11.0% testifies the good organic capital generation.”