BNP Paribas’ securities services revenues rose by 5.8 per cent in Q3 2021 compared to the same period prior due to the increase in average assets, favourable market trends, the onboarding of new clients, and the increase in transaction volumes.
Securities services continues to expand, for example, by obtaining a licence to
provide custody services to qualified foreign investors in China
The Q3 2021 results also revealed that volumes remain at record levels. Average assets stood at €14.7 trillion, which marks an increase of 19.3 per cent compared to Q3 2020. BNP Paribas say this was driven by market performances and the onboarding of new clients.
Meanwhile, assets under custody came in at €12.273 trillion representing an increase of 21.6 per cent compared to the same period last year.
BNP Paribas also noted an increase in transaction volumes, which were up 14.1 per cent compared to Q3 2020.
Further highlights from the report showed that overall revenue was up 4.7 per cent compared to Q3 2020. This also marked an increase of 4.6 per cent compared to Q3 2019.
Commenting on these results, CEO, Jean-Laurent Bonnafé, remarks: “BNP Paribas’ results are solid and confirm the potential for growth beyond the rebound that has already occurred. On the strength of its distinctive model, BNP Paribas continues to accelerate the development of its activities and to invest at the service of clients and the economy.”
“Our digital and industrial transformation allows it to be more efficient every day and to address customers’ new behaviours by offering them greater proximity and advisory.”
“BNP Paribas is, more than ever, mobilising its entire range of resources and expertise – where its leadership is acknowledged and which have been developed in all the Group’s businesses and platforms over the past 10 years – to support individual, corporate and institutional clients in the energy transition, to accompany them in their transformation and to contribute, alongside them, to the success of sustainable growth,” adds Bonnafé.
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