Amundi confirms €1.5b profit target

PARIS: Amundi, the eurozone’s largest asset manager, confirmed its profit targets for next year yesterday even after adverse market conditions hit its fourth-quarter bottom line. “Our target is to book €1.5 billion (RM6.9 billion) in adjusted net profit in 2020 with stock indexes at the same level and we will be there,” said Amundi’s chief executive Yves Perrier at a conference call. Adjusted net profit fell 16 per cent in the fourth quarter to €225 million, although it rose 3.1 per cent for 2018 to €946 million.