The organisation reported a mixed set of figures for the third quarter of this year.

BNP Paribas yesterday reported that its wealth and asset management’s revenues in the third quarter of this year rose 5.1 per cent year-on-year to €791 million ($897.4 million), with growth in particular driven by real estate services.

Operating costs totalled €654 million and rose by 15.0 per cent on the same three months of 2017, with business development, specific transaction projects and costs linked to the purchase of the Strutt & Parker business adding to expenses.

Pre-tax income at this part of the business fell 31.2 per cent on a year ago to €143 million, which the bank explained saw a fall from an exceptionally strong result last year.

At 143 €million wealth and asset management’s pre-tax income, after receiving one-third of the net income of private banking in the domestic markets, in Turkey and in the United States, was down by 31.2% compared to a high base in the third quarter 2017 which had recorded a very good performance.

Across the wealth, insurance and asset management divisions, assets under management rose 2.4 per cent from September last year to €1.066 trillion, also up 1.5 per cent from the end of December last year.

Across the whole of the BNP Paribas group, pre-tax income in Q3 2018 was €2.816 billion, a fall of 5.3 per cent on a year ago.

Shares in the Paris-listed bank closed down yesterday 2.80 per cent at €46.15 per share.