French group BNP Paribas has released its financial results for the first half of 2018.
The firm’s net income attributable to equity holders stood at €2.39bn, stable year-on-year while revenues totalled €11.2bn in June 2018, up by 2.5% compared to Q2 2017.
The asset management business of BNP Paribas tallied €419bn in AUM as of 30 June 2018, down from €424bn at the end of Q1 2018. The firm reported assets outflows concentrated on a bond mandate “following the insourcing by a client of its fund management”.
That has been partly offset by asset inflows into money market funds, highlighted BNP Paribas.
The group noted good level of asset inflows in its wealth management subsidiary, in particular in Asia, France and Italy. BNP Paribas’ wealth management branch managed €373bn in AUM as at end June 2018.