French asset manager Amundi has reported net income – group share of €137m for the third quarter of 2016, a 14.2% increase compared to €120m for the same quarter last year.
The company’s quarterly pre-tax income stood at €197m, a rise of 8.3% compared to €182m in the prior year.
Gross operating income increased 7.6% to €189m from €176m a year ago. Net revenue rose 5.1% year-on-year to €396m.
The group’s cost income ratio at the end of the third quarter was 52.2%, compared to 53.3% a year earlier.
As on 30 September 2016, Amundi's assets under management were €1.05 trillion.
Amundi CEO Yves Perrier said: “Amundi's performance at the end of September 2016 is in line with the objectives announced at the time of the IPO, both in terms of inflows and income.
“The first nine months of 2016 illustrate that Amundi is capable of delivering consistent performance, quarter after quarter, despite a market environment still marked by strong risk aversion on the part of our clients.”