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

Published Sun, Apr 3, 2016 · 09:50 PM

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.

The French bank had set out to grow its revenue in Asia-Pacific to three billion euros (S$4.6 billion) by 2016. The bank also, as a group, had to meet a return on equity of more than 10 per cent by the end of this year. As it is, its 2015 Asia-Pacific revenue stood at 3.2 billion euros, up 6.2 per cent from a yea…

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