BNP Paribas has recorded a 2.6% drop in its securities service revenues in the second quarter.
Securities services revenue stood at €461 million compared to €473 million in Q2 2015, which the firm has put down to a decrease in equity markets activity as well as a decline in the number of fund subscription and redemption transactions.
Assets under custody (AuC) remained stable with an increase of 0.2%.
Corporate banking revenue stood at €1.1 billion representing a 2.2% increase compared to Q2 2015. The firm has put this down to an increased sales in Europe, the Americas as well as in the Asia Pacific.
Increased cross-border financing and advisory deals also contributed to an 8% increase in corporate banking fees.
Overall revenues for the bank as a whole totalled €11.3 billion, which the firm has put down to growth of the operating division, negative foreign exchange effect and the €597 million of capital from the sale of Visa Europe shares.
The firm also recorded a slight decrease in pre-tax income which stood at €3.5 billion compared to €3.7 billion in the second quarter of 2015.
“In a complex and changing environment, BNP Paribas delivered again a good performance this quarter thanks to its integrated and diversified business model serving its customers,” said CEO Jean-Laurent Bonnafé.