The Paris-listed banking group became one of the first major European lenders to report second-quarter results this week.

BNP Paribas today said that its wealth management business logged net asset inflows of €12.9 billion ($14 billion) for the three months to end-June in 2024, particularly in the commercial and personal banking arms, and with high net worth clients.

Wealth management revenues, at €419 million, rose by 6.1 per cent, driven by increased fees and resilience in net interest revenues. 

Operating expenses held steady, at €675 million, BNP Paribas said in a statement.

Pre-tax income at the wealth and asset management side of the business was €210 million, rising 1.4 per cent on a year ago.

Across the entire BNP Paribas group, net income was €3.395 billion, rising 1.6 per cent on the same quarter of 2023.

“We remain focused on our commitment to serving our customers to the utmost, to deploying our platforms, particularly in Asset Management, Wealth Management and Insurance, and to continuing to gain market shares at CIB, while retaining a balanced allocation of capital. In the second half of 2024, we will also continue to implement operating efficiency measures, and maintain our disciplined management of cost of risk through the cycle,” Jean-Laurent Bonnafé, chief executive, said.