BNP Paribas saw its securities services business secure a slight rise in revenue during Q1 2016.
The 0.3 percent rise in revenue to €440 million was attributed to a 2.7 percent decline in assets under custody, on the back of decreasing markets. At the same time, the French bank saw a 16.1 percent rise in transactions.
BNP Paribas secured a number of new mandates during Q1 2016, including a global custodian contract from Finnish financial services group Sampo, which has €25 billion in assets.
Also during Q1 2016, the bank’s equity and prime services business unit suffered a 41.2 percent fall in revenue from Q1 2015, bringing in €428 million. This was due to weak demand for structured products in declining markets in Europe, BNP Paribas said.
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