BNP Paribas’s assets under custody increased by 9.1 percent to €9.3 trillion in Q3 2017, up from €8.5 trillion in Q3 2016.
In addition, assets under administration increased by 19.4 percent on Q3 2016, rising from €1.9 trillion to €2.3 trillion.
According to BNP Paribas, this can be partially attributed to the “ramping up of new mandates” and the launch of a triparty collateral management offering.
Securities services revenues were also up on Q3 2016, rising by 4.2 percent to €476 million in Q3 2017. Year-to-date, revenues reached €1.45 billion, up 6.8 percent compared to the same time period last year.
The number of transactions processed in Q3 2017 increased by 7.8 percent, compares to the same period last year.
The report suggested that the positive securities services results were an “effect of the rise in volumes and of the new mandates”.
In September, Mizuho Trust & Banking selected BNP Paribas Securities Services as its sub-custodian and settlement agent in Brazil.
The firm also launched its triparty collateral management service in October, in order to unlock liquidity pools, while offering users the ability to provide access to segregated markets, opening untapped sources of collateral.
Patrick Colle, general manager of BNP Paribas Securities Services, said of the new service: “BNP Paribas Securities Services has a strong and diversified client base, which puts us in an ideal position to ease the circulation of collateral between buy and sell-side market participants as well as central clearing counterparties—something that few collateral platforms do today.”
