Amundi: Q3 adjusted net income edges up

(CercleFinance.com) - The asset manager Amundi has published Q3 2020 adjusted net income, group share of 235 million euros, up 2.
3% y-o-y compared with a stable cost/income ratio of 51.2%.

At 630 million euros, net revenues fell by 4.1%, given changes in financial markets. Net management commissions thus fell, in light of the decline in average market levels and pressure on margins.

However, the impact of the market downturn on revenues was offset by the reduction in operating expenses (-3.8% to 323 million euros), "which kept the cost/income ratio low and profitability high".


Copyright (c) 2020 CercleFinance.com. All rights reserved.