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H1 profit at BNP Paribas WAM business slips 5%

BNP Paribas’ global wealth and asset management (WAM) business saw pre-tax profit dip to €356 million (US$390 million), despite a 5% growth in revenue. While the unit’s first half revenue for 2015 grew to €1.49 billion, operating expenses also upped 7.6%, the bank said. This led to a 5.3% year-on-year drop in pre-tax profit. Although the bank would not comment on the…

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