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BNP Paribas SA (BNPP.PA)

BNPP.PA on Paris Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Hong Kong authorities reprimand and fine BNP Paribas Wealth Management for overcharging clients
Wednesday, 31 Aug 2016 04:43am EDT 

Hong Kong Securities and Futures Commission :Says it reprimands and fines BNP Paribas Wealth Management HK$4 million ($515,749.71).  Full Article

BNP Paribas says First Hawaiian Bank IPO will have positive impact on CET1 ratio in Q3
Thursday, 4 Aug 2016 02:10am EDT 

Bnp Paribas Sa :Bnp paribas says first hawaiian bank transaction will have positive impact of about 5 to 6 basis points on group cet1 ratio in q3.  Full Article

BNP Paribas CEO sees French retail revenue down 2-3 pct this year
Thursday, 28 Jul 2016 12:38am EDT 

BNP Paribas executives at results news conference: CEO says expects French retail revenue down 2-3 percent in 2016 . BNP Paribas COO Bordenave says not worried about stress tests results due on Friday . BNP Paribas CEO says BNP not among candidates to buy Raiffeisen's unit in Poland Further company coverage: [BNPP.PA] (Reporting y Paris Newsroom) ((paris.equities@thomsonreuters.com;)).  Full Article

BNP Paribas Chairman Lemierre says after Brexit vote UK is no longer reliable
Wednesday, 6 Jul 2016 05:16am EDT 

: BNP Paribas Chairman Lemierre says after Brexit vote the UK is for the first time in years "no longer reliable" . says "let's face it Brexit vote has a limited impact on Europe" . . Further company coverage: [BNPP.PA] ((paris.newsroom@thomsonreuters.com; +33 1 49 49 54 52)).  Full Article

BNP Paribas SA - Stung by large U.S. fines, France to tighten anti-corruption laws - Reuters News
Tuesday, 29 Mar 2016 04:48am EDT 

BNP Paribas SA:France is tightening its anti-corruption laws to clean up its image after several French companies were slapped with huge fines abroad, with planned reforms including greater protection for whistleblowers and a new anti-corruption agency. - RTRS.Two years ago, France's biggest bank, BNP Paribas, was fined $9 billion by U.S. authorities over violations of sanctions against Sudan, Cuba and Iran.French engineering company Alstom ALSO.PA and oil groups Total and Technip were also forced to pay millions of dollars to the U.S. authorities over bribery allegations.French Finance Minister Michel Sapin will unveil the new bill to the cabinet on Wednesday, before sending it to parliament for discussion."We are badly ranked internationally, we're under suspicion," Sapin told France Inter radio on Tuesday."So we must wash away this suspicion and for that we need strong measures," he said. The bill will also include the creation of a government-wide registry of lobbyists and a ban on "large" gifts to government officials, officials at the finance ministry said.France was ranked 23rd in Transparency International's latest corruption perception index, below Germany, Britain and the United States, and was criticised by the Organisation for Economic Co-operation and Development (OECD) in 2014.  Full Article

BNP Paribas proposes FY 2015 dividend
Friday, 5 Feb 2016 01:00am EST 

BNP Paribas SA:Proposes FY 2015 dividend of 2.31 euros per share, equivalent to 45 pct payout.  Full Article

BNP Paribas SA - BNP Paribas Fortis to reduce workforce by 7.1 pct - Reuters
Thursday, 3 Dec 2015 01:15am EST 

BNP Paribas SA:Belgian bank BNP Paribas Fortis plans to reduce its workforce by 7.1 percent over the next three years, it said on Thursday, as it adapts its retail network to focus on a growth in online banking - RTRS.BNP Paribas Fortis said its workforce will fall to 13,675 employees by the end of 2018 from 14,725 currently, a reduction of 1,050, the bank said, confirming a report in Belgium's L'Echo daily - RTRS.French parent BNP Paribas BNPP.PA, which bought Fortis Bank in a rescue deal at the height of the financial crisis, is like its rivals cutting costs in its branch networks, where low interest rates and consumer belt-tightening pressures revenues - RTRS.  Full Article

BNP Paribas SA - Swiss banks to pay $81 mln, avoid U.S. charges on aiding tax evasion - Reuters
Thursday, 19 Nov 2015 03:28pm EST 

BNP Paribas SA:Three Swiss banks will pay a total of more than $81 million to the U.S. Justice Department to avoid possible prosecution for helping Americans to evade taxes, the department said on Thursday - RTRS.The three banks, the Swiss unit of BNP Paribas SA; KBL (Switzerland) Ltd LU0092281103.BR; and Bank CIC, also agreed to cooperate in any related criminal or civil proceedings, the Justice Department said - RTRS.The banks settled under a voluntary program the Justice Department launched in 2013 to allow Swiss banks to resolve potential criminal charges by disclosing cross-border activities that helped U.S. account holders conceal assets - RTRS.Under the program, banks also must provide detailed information on the accounts of U.S. taxpayers under investigation. Banks that were already under criminal investigation were excluded from the program - RTRS.BNP Paribas, which will pay $59.8 million of the total penalty, managed about 760 U.S.-related accounts with a peak value of about $1.2 billion assets under management since August, 2008. BNP already set aside money to cover the sum, a spokeswoman said - RTRS.Bank CIC, a unit of Crédit Mutuel-CIC, had 261 U.S.-related accounts, which included about $228 million in assets under management since August, 2008. It will pay $3.3 million of the total penalty - RTRS.  Full Article

BNP Paribas SA eyes technology as way to cut investment banking costs - Reuters
Wednesday, 28 Oct 2015 12:10pm EDT 

BNP Paribas SA:BNP Paribas may make significant middle and back office job cuts as part of a plan to cut costs in its investment bank that includes using "big data" technology to identify customer needs, a person familiar with the matter said - RTRS.As part of a drive to cut costs by 20 percent in its corporate and institutional banking (CIB) division, which employs more than 29,000 people - RTRS.the bank is weighing the use of innovative computer technology known as "big data" to identify client needs more precisely and save money, the person said - RTRS.BNP Paribas has not yet given details to unions in France of how the bank plans to achieve the 20 percent cost cut, a union representative told Reuters. Job cuts in line with the proportion of savings would amount to about 6,000 - RTRS.A report in Les Echos newspaper in June said the bank had told a group of executives that it was targeting a 20 percent cut in its CIB costs by 2019 - RTRS.  Full Article

BNP Paribas SA to cut jobs in Middle East-Bloomberg, citing sources - Reuters
Thursday, 22 Oct 2015 03:45am EDT 

BNP Paribas SA:BNP Paribas SA is considering job cuts in the Middle East as its investment banking business in the region slows, two people with knowledge of the matter said - Bloomberg.France’s largest bank may cut more than 100 of about 560 staff in the Gulf Cooperation Council region, with most reductions expected to occur in Bahrain, the regional headquarters, one of the people said, asking not to be identified because the matter is private - Bloomberg.Bahrain is BNP Paribas’s Middle East hub, including back-office and support functions - Bloomberg.BNP Paribas is reorganizing its investment bank, run by Yann Gerardin, to cut costs as global lenders face stricter rules and rising compliance needs - Bloomberg.  Full Article

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BNP Paribas to pay $350 million to settle New York currency-rigging probe

NEW YORK French bank BNP Paribas on Wednesday agreed to pay $350 million to New York’s banking watchdog to resolve a probe of misconduct in its foreign exchange business, which the regulator said enhanced the bank's profits at customers' expense.