Profits at BNP PRE hold firm

BNP Paribas Real Estate has held profits steady in 2016 while recording a slight increase in revenue.

The group’s latest annual results showed profit before tax of €155m, down a fraction on the €156m recorded the year before.

Meanwhile, revenues totalled €704m in 2016 compared to €688m the previous year - of these, 43% of revenues were generated outside France.

Revenues from the advisory business totalled €314m, up from €307m in 2015.

BNP Paribas Real Estate’s investment management business saw inflows of more than €1.6bn,ending the year with €24.1bn in assets under management in Europe.

New development plan

Thierry Laroue-Pont, chief executive of BNP Paribas Real Estate, said the company had started work on a new development plan and had created two new departments.

“All our business lines are progressing as a whole,” he said. “In 2017 we are to start implementing our 2020 development plan that structures and crystallises our ambitions for each of our business lines and uses digital to develop new service offers.

“With respect to our central functions, early-2017 has seen the creation of two new departments: an Innovation department and a Data department.

“Lastly, our commitment to CSR, which has become increasingly important in our clients’ investment choices, also features among our priorities for 2017 and the coming years” comments.”

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