Euroclear Sees YoY 12% Business Income Jump in Q1 2021

Euroclear group, the financial industry's trusted provider of post trade services, has released its financial results for the first quarter of 2021, revealing a 12 percent YoY jump in business income.

According to the business and financial update, business income rose by 12 percent on a YoY basis to €358 million, whereas banking and other income dropped notably by 61 percent to €24 million compared to Q1 2020. The revenues of the company for the first quarter of 2021 amounted to €382 million, flat YoY. The operating costs of the company jumped by 2 percent to €218 million. Net profit fell by 4 percent to €123 million.

Chief Executive Officer at Euroclear, Lieve Mostrey, commented: "We have seen a strong start to the year, a testament to the resilience of our team and robustness of our business model as well the continuation of very high levels of activity across our markets. We remain focused on delivering on our long term strategic priorities for all our stakeholders."

​Fazzaco earlier reported that Euroclear has agreed to acquire MFEX Group​, an independent expert in global fund distribution. The transaction is expected to close in the second half of 2021.