French bank BNP Paribas has dramatically expanded its footprint in wealth and asset management, as a result of its merger with Fortis.

At the end of the first quarter to March, wealth accounts rose to €247bn, against €141bn a year earlier: net inflows during the period were €1.7 bn. The company's asset management book of business also rose in size from €235bn to €453bn, despite a net outflow of assets totalling €4.3bn.