BNP Paribas announced its Q2 2020 results this morning. Securities Services highlights include the following.

Securities Services revenues, at EUR 561 million, were down by 5.9 percent, but up by 3.6 percent when excluding the effect of a specific transaction in the second quarter 2019.

Average assets were down by 3.5 percent compared to the second quarter 2019 in connection with the fall in market values in March 2020, but with a recovery in the latter part of the quarter with new volumes and the market recovery (+5.5 percent compared to March 30 2020).

The level of activity was up, as the effect of lower assets was more than offset by increased transactions. The business continued its commercial development with the announcement of new mandates (Axa in Belgium, Eurazeo).

Mobilization during the health crisis

· Flexible set-up able to absorb transaction volumes that are still at an exceptional level (+36.9 percent vs. 2Q19).

· Support for setting up new funds of institutional clients in response to the Covid-19 crisis.

Good business drive

· New mandates (Axa in Belgium, Eurazeo, etc.).

· Digital: launch of an artificial intelligence solution for analysis and client reporting of assets under custody.

Rebound in assets under custody and under administration

· Decrease in average assets (-3.5 percent vs. 2Q19) due to the fall in market valuations in March.

· Increase late in the quarter driven by new volumes and the market recovery (assets at end-June 2020: +5.5 percent vs. March 30 2020).

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BNP Paribas announced its Q2 2020 results this morning. Securities Services highlights include the following.

Securities Services revenues, at EUR 561 million, were down by 5.9 percent, but up by 3.6 percent when excluding the effect of a specific transaction in the second quarter 2019.

Average assets were down by 3.5 percent compared to the second quarter 2019 in connection with the fall in market values in March 2020, but with a recovery in the latter part of the quarter with new volumes and the market recovery (+5.5 percent compared to March 30 2020).

The level of activity was up, as the effect of lower assets was more than offset by increased transactions. The business continued its commercial development with the announcement of new mandates (Axa in Belgium, Eurazeo).

Mobilization during the health crisis

· Flexible set-up able to absorb transaction volumes that are still at an exceptional level (+36.9 percent vs. 2Q19).

· Support for setting up new funds of institutional clients in response to the Covid-19 crisis.

Good business drive

· New mandates (Axa in Belgium, Eurazeo, etc.).

· Digital: launch of an artificial intelligence solution for analysis and client reporting of assets under custody.

Rebound in assets under custody and under administration

· Decrease in average assets (-3.5 percent vs. 2Q19) due to the fall in market valuations in March.

· Increase late in the quarter driven by new volumes and the market recovery (assets at end-June 2020: +5.5 percent vs. March 30 2020).