BNP Paribas Securities Services has announced a 5.8 per cent YoY contraction in its assets under custody to €11.2 trillion compared to 31 March 2022.
For the same period, assets under administration contracted 7 per cent to €2.3 trillion.
Reflecting on Q2 2022 results for the Paris-headquartered bank, securities services revenues for the quarter rose 16.0 per cent YoY to €663 million, and by 13.6 per cent at constant scope and exchange rates, as a result of higher transaction fees and the impact of the interest-rate environment.
Average assets decreased by 1.4 per cent compared to Q2 2021, while end-of-period assets declined by 6.8 per cent compared to Q2 2021, due to the negative impact of market declines in the second quarter 2022.
BNP also reports good business drive and resiliency of assets, highlighting sustained sales and marketing development, in particular in the target sector of private capital.
The business line reported a 15.1 per cent YoY increase in transaction volumes compared to Q2 2021, with new mandate wins delivering a good level of asset stability.
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