Amundi's Board of Directors, chaired by Xavier Musca, convened on 29 April 2020 to review the financial statements for the first quarter of 2020.

Commenting on the figures, Yves Perrier, CEO, said:

'Faced with a crisis of unprecedented scope, Amundi has adapted quickly, thanks to its proprietary robust IT platform and the professionalism of all its employees. I salute their engagement and their spirit of solidarity. All of the company's functions, including portfolio management, risks, middle-office and sales, are 100% operational.

Once again, our first-quarter 2020 results confirm the solidity of Amundi's business model, founded on the one hand on strong operational diversification, and on the other on a high level of operational efficiency. Assets under management are up +3.5% year-on-year. In Q1 2020,Retail and JV inflows total more than €12bn, virtually offsetting the crisis-related outflows from Institutionals and Corporates. Gross Operating Income[1]increased by more than 12% thanks to the positive jaws effect stemming from an increase of net asset management revenue (+5%) and a decrease of costs (-1%).Net income[2] is maintained at a high level (€206m).

The Group has initiated recently new growth leversin retail, with strategic partnerships signed with Banco Sabadell and Bank of China. The implementation of these partnerships is progressing well, on target and on schedule, as announced.

The duration of the crisis and its impact on the business remain difficult to assess. However, thanks to its solid business model and its new growth drivers, Amundi is well-equipped to face the challenges brought by this exceptional situation.'

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Crédit Agricole SA published this content on 30 April 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 April 2020 16:23:02 UTC