BNP Paribas Targets Asset-Management Growth Under 2030 Plan — Update

By Adam Whittaker

BNP Paribas is targeting a near doubling in pretax income from its asset-management unit by 2030 under a new strategic plan for the division after the acquisition of AXA's money-management arm.

The Paris-based bank is seeking an increase in size and profits at the asset-management business after the 5.1 billion-euro ($5.87 billion) deal with insurer AXA, which was completed last summer. The bank hopes growth in asset management can help it meet a companywide target of a return on tangible equity of 13% by 2028. This is a key profitability metric for the bank.

Under the plan, BNP Paribas said Tuesday that it expects pretax income from its asset-management arm to nearly double by 2030 from the 820 million euros the unit reported for last year.

The division manages over 1.6 trillion euros in assets and is one of Europe's largest asset managers.

"Our mission is clear: deliver sustainable and resilient results for our clients while helping finance the economic transitions shaping the future," Sandro Pierri, chief executive of BNP Paribas Asset Management, said.

A target of more than 5% a year growth in assets under management over the life of the plan should help drive a roughly 4% compound increase in revenue a year, the company said. Through 2030, the bank targets around 350 billion euros of cumulative net inflows.

Earnings will be enhanced by 150 million euros in revenue synergies and around 400 million euros in cost synergies by 2029, it said.

As part of the plan, BNP Paribas wants to expand its insurance and institutional partnerships and accelerate growth in its retail and wealth-management business.

Write to Adam Whittaker at adam.whittaker@wsj.com

(END) Dow Jones Newswires

March 17, 2026 03:44 ET (07:44 GMT)