November 3, 2011 / 6:28 AM / 8 years ago

BNP CEO says Greek default "manageable"

PARIS (Reuters) - Top French bank BNP Paribas is adequately provisioned for Greek debt losses for the time being and would also be able to handle a Greek sovereign default, its chief executive said in an interview.

“A (Greek) default certainly would be manageable. Unpleasant, but manageable,” Baudouin Prot told Reuters Insider television. “I think that (Greek provisioning) is adequate...We will see as things go.”

BNP, France’s biggest listed bank, also plans to halt its drive to cut overall sovereign debt holdings after reducing eurozone sovereign exposure by 20.7 percent in the third quarter, Prot said.

Asked whether the bank would continue to offload sovereign debt holdings, he said: “No...We are going to stand where we are.”

Reporting By Lionel Laurent; Editing by Christian Plumb

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