BNP Paribas is leading the pack of European banks seeking to raise additional capital to repay government funds and free themselves of the harsh restrictions and costs of state aid. BNP Paribas is France’s biggest bank by market value, and it said yesterday that it plans to raise EUR 4.3B in a rights issue to help it return the EUR 5.1B borrowed from the state about six months ago.
The capital boost may also be beneficial should BNP Paribas acquire the commercial banking arm of Fortis Bank Nederland. BNP Paribas’ shares added 2.35% to close at EUR 57.90 in Paris yesterday.
Post a Comment