Rising markets and robust inflows increased AuM at the wealth side of the business during the quarter and 2024, BNP Paribas said.

Wealth management revenues at BNP Paribas rose 10.8 per cent in the fourth quarter of 2024 from where they were a year before, while assets under management among high net worth clients and the commercial and personal banking side also rose. AuM was propelled by rising inflows during 2024 – €29.7 billion ($30.1 billion) – and rising markets. 

In total, wealth management AuM stood at €628 billion at the end of 2024, the Paris-listed group said in a statement today. 

“Wealth management achieved good net asset inflows (€3.1 billion Q4, 24), particularly in Asia and Germany. On the year, asset inflows were very strong in all geographies (€29.7 billion) and assets under management increased, supported by market gains,” BNP Paribas said.

There was an inflow rate of 7.2 per cent last year. Transaction fees rose across all geographies. 

Wealth management sits in the investment and protection services (IPS) division. IPS revenues in the fourth quarter rose 8.4 per cent year-on-year, with wealth revenue gains making an important contribution. IPS assets under management rose 11.4 per cent during 2024 to €1.377 trillion. In 2024, revenues, at €5.824 billion, rose 4.2 per cent, BNP Paribas said.

As reported in September – just before the final quarter – BNP Paribas agreed to buy HSBC’s private arm in Germany, continuing a build-out of the French bank’s activities in the country.

Group figures
At group level, BNP Paribas said net income rose 15.7 per cent year-on-year to €2.322 billion; for the whole of 2024, it rose 4.1 per cent to €11.67 billion. 

At the end of 2024, the lender had a Common Equity Tier 1 ratio of 12.9 per cent. The cash dividend rose 4.1 per cent.