BNP Paribas says to cut 1,600 staff in Ukraine by 2015

PARIS Mon Mar 24, 2014 11:22am EDT

The logo of BNP Paribas Fortis is seen on the entrance of the bank headquarters in Brussels September 18, 2013. REUTERS/Yves Herman

The logo of BNP Paribas Fortis is seen on the entrance of the bank headquarters in Brussels September 18, 2013.

Credit: Reuters/Yves Herman

PARIS (Reuters) - BNP Paribas (BNPP.PA), France's biggest listed bank, said it would reduce Ukraine staff by 1,600 by 2015 as part of an ongoing restructuring of its local unit in the face of a tough economic environment.

BNP executives told investors during a presentation on strategy that the bank had already reduced loans outstanding at its Ukrainian subsidiary UkrSibBank and that 84 of its branches were closed in 2013.

(Reporting by Lionel Laurent; Edited by Andy Callus)

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