The asset management arm of French bank BNP Paribas lost a €5bn ($6.5bn) mandate from one of its clients in the second-quarter, according to results published today, accentuating a multi-billion euro drop in assets under management over the period.

A presentation published alongside the French bank's second quarter financial statements states that BNP Paribas Investment Partners, its asset management division, suffered net outflows of almost €9bn between the start of April and the end of June. This took the asset management division's assets under management down to €444bn, it said.