Amundi: Q3 adjusted net income up 16%

(CercleFinance.com) - Asset management group Amundi has reported a 16.
1% rise in adjusted net income to E337m for Q3 2024, including Alpha Associates since Q2, whose acquisition was completed in early April.

Growth in net income essentially stems from organic revenue growth, amplified by operating efficiency, which generated a positive jaws effect, and by the very strong momentum of Asian JVs, it explains.

Adjusted net revenues rose by 10.5% to E862m, reflecting good business and the increase in average AuM excluding JVs (+8.6%), while the cost/income ratio improved to 52.9% on an adjusted basis.


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