BNP Paribas meets Asia-Pac targets a year ahead of schedule

Singapore

THE Asia-Pacific operations of BNP Paribas have hit targets on returns and revenue a year ahead of schedule, a top executive said, but like all banks, is now working through a directionless market.

The better-than-expected performance in 2015 was thanks in part to a jump in revenues out of Singapore - the hub for BNP's South-east Asia business - of over 20 per cent from a year ago, and a boost in cash management clients from a unique referral agreement from RBS as the UK bank exits the business in this region.