March 20, 2017 / 8:33 AM / 10 months ago

BNP Paribas says to grow investment banking in Northern Europe

PARIS, March 20 (Reuters) - BNP Paribas, France’s biggest bank, said it plans to grow its corporate and institutional banking unit in Northern Europe under a 2017-2020 plan presented to investors on Monday.

The strategy will deliver average revenue growth of 2.5 percent over the period, while boosting dividend payouts and increasing its return on equity to 10 percent from 9.4 percent, the bank said, reiterating targets announced in February. “The 2020 plan will enable us to realise our vision to be the European bank of reference, with a global presence,” Chief Executive Jean-Laurent Bonnafé said in a statement. (Reporting by Maya Nikolaeva; Editing by Laurence Frost)

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