In terms of regional distribution, Asia saw the highest turnover with 22.9 billion euros.
However, there’s been a slight slowdown in Latin America. The region contributed with 7 billion euros in turnover last year, compared to 8.1 billion euros in 2017. This has also been the case in emerging markets, where turnover fell from 31.2 billion euros in 2017 to 29.7 billion euros in 2018.
“Looking forward we have indicated that we expect growth to be more in the 3 to 4 percent range, which is the lower half of our ongoing guidance and it basically reflects some of the volatility in emerging markets, notably in Latin America,” Jope said.
“The real issue is volatility in emerging markets, when we see notable slowdowns in places like Argentina, Brazil and Southeast Asia then that’s why we come in at the lower end of the growth range,” he explained.
Shares fell above 2 percent shortly after the market open in Europe.