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BNP Paribas Personal Investors’ pre-tax profit up 60% in 2010

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Personal investment and online trading broker BNP Paribas Personal Investors (BNPPPI) has reported strong performance in its 2010 pre-tax profit, up 60 per cent to EUR58.9m.

Increased revenues from brokerage (+ 8%), net interest income (+13%), savings (+11%) and B2B business (+13%), all contributed to BNPPPI’s improved performance. The company achieved a balanced mix of revenues over the year with brokerage representing 40% of total, banking (asset gathering and interest revenues) 50%, and other revenues 10%.

Brokerage flow posted a sharp increase, reaching EUR71.5 billion, a +32% versus 2009, but BNPPPI saw contrasting market environments with France declining (-3% performance for CAC 40 Index) but both Germany and India positive (DAX: +16%, Sensex: +17%, respectively). Brokerage flow increase came from both the traditional retail business segment and from the newly developed institutional brokerage business in Spain and in India.

Net collection for the year totalled EUR1.4 billion, up 53% compared to 2009, with one third (EUR446 million) due to collection on mutual funds and life insurance, which increased by 12%.

Assets under management reached EUR35.8 billion at the end of 2010, up 12% compared to end of 2009. Some 35% of these assets are held in stocks, 44% in savings products or mutual funds, and 21% in cash.

The company’s total number of managed clients reached 1 703 600 at year end which corresponds to 2 575 000 accounts, showing a net increase of 73 000 accounts.

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