BNP Paribas’ asset management division reported €278.3 billion ($278.3 billion) in assets under management as of Dec. 31, a 10.7% increase for the year, according to the bank’s annual report.
The division lost €4.1 billion in the fourth quarter, according to the report. The asset management and services group — which includes private banking, insurance and real estate services in addition to asset management — had a net outflow of €2.6 billion in the third quarter, but a €1.7 billion net asset inflow in the fourth quarter, according to the report.
Institutions make up about 27% of the company’s asset management clientele, according to the report. Growth outside France in countries such as Italy, Brazil, India and Singapore helped boost assets under management, according to the press release.
Spokeswoman Sandrine Romano couldn’t be reached for further comment.
