BNP Paribas  is looking to increase its assets under management in Germany from €8.5 billion ($12.2 billion)to €15 billion in the next two years said Jacques d’Estais, the head of the investment solutions division, in an interview with German news service Boersen- Zeitung.

A spokesperson for BNP Paribas confirmed that two years ago assets under management in Germany were €3 billion euros, including both institutional investors and retailers.

The French firm’s investment solutions unit, which covers asset management, private banking and brokerage services, may also purchase a private bank in Germany, according to the interview.

In May the wealth management arm of BNP Paribas, contained within the investment solutions part of the French giant, reported a pre-tax income of €278 million for the first three months of this year, up from €252 million a year ago, on the back of a rise in revenues to €862 million from €801 million.