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The French bank also did not comment on plans to end its research partnership with Morningstar after more than four years. The expansion of the equities business by BNP comes as its Wall Street peers have reduced investment banking headcount this year amid sluggish trading and dealmaking activities. In Asia, BNP competes with large Western banks including Morgan Stanley (MS.N), Goldman Sachs (GS.N), JPMorgan (JPM.N) and UBS (UBSG.S), as well as a host of local investment banks in the cash equities business. One of the sources said BNP could boost its Asia equities headcount by as much as 20 over the next year. The bulk of BNP's in-house equities research team, mainly in Hong Kong and Singapore, departed as a result of that deal.

Persons: Dado Ruvic, Morningstar, Jean, Laurent Bonnafe, Morgan Stanley, Goldman Sachs, Jason Yates, BNP's, William Bratton, Exane, Bratton, " Yates, Selena Li, Sumeet Chatterjee, Jamie Freed Organizations: BNP, Bank, REUTERS, Morningstar, Deutsche, JPMorgan, UBS, Thomson Locations: HONG KONG, Asia, Asia Pacific, Europe, U.S, Russia, Ukraine, Pacific, BNP's, Hong Kong, Singapore, China, South Korea, India

☆ Bangladesh opposition vows to continue protests despite 'autocratic' crackdown
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +3 min

Supporters of Bangladesh Nationalist Party (BNP) join in a rally at Naya Paltan area in Dhaka, Bangladesh, October 28, 2023. REUTERS/Mohammad Ponir Hossain/File Photo Acquire Licensing RightsDHAKA, Nov 29 (Reuters) - Bangladesh’s main opposition party said on Wednesday it would continue its anti-government protests despite what a rights group called an "autocratic crackdown" ahead of a general election in January. At least four people, including a policeman, have been killed and hundreds injured in violent protests across the country in the past few weeks, police said. In order to end this misrule and lawlessness, the ongoing movement must be accelerated and the victory of the people must be ensured,” senior BNP official Ruhul Kabir Rizvi said. “Diplomatic partners should make clear that the government’s autocratic crackdown will jeopardise future economic cooperation,” the rights group said in a statement quoting Bleckner.

Persons: Mohammad Ponir Hossain, Sheikh Hasina, ” Abdul Moyeen Khan, ”, Ruhul Kabir Rizvi, Hasina, “, League’s, Julia Bleckner, Khaleda Zia, Ruma Paul, Raju Gopalakrishnan Organizations: Bangladesh Nationalist Party, BNP, REUTERS, Rights DHAKA, Reuters, Police, Rights Watch, Human Rights Watch, “, Thomson Locations: Naya Paltan, Dhaka, Bangladesh, Asia

☆ The U.S. consumer is resilient despite constant headwinds, says BNP's Jean-Yves Fillion
▼ + stars: | 2023-11-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe U.S. consumer is resilient despite constant headwinds, says BNP's Jean-Yves FillionJean-Yves Fillion, BNP Paribas USA vice-chairman, joins 'Closing Bell' to give his global market perspective and more.

Persons: BNP's Jean, Yves Fillion Jean, Yves Fillion Organizations: BNP, USA

☆ Want 8% yield? Buy 'fallen angels' in the U.S. bond market, BNP Paribas says
▼ + stars: | 2023-11-09 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

The bond bear market is the worst in more than 200 years, according to BNP Paribas' global chief investment officer. "This represents the biggest US bond bear market in over 200 years," Shing said. But, he said, one corner of the bond market is an opportunity for investors: U.S. "fallen angels" in the high-yield credit segment. "So actually, you can still capture 8% plus gross yield of these fallen angels, but at a much lower default risk at a time when the economy is slowing." Those keen on investing in "fallen angel" bonds can consider exchange-traded funds and funds that have been specifically developed to focus on such bonds.

Persons: Edmund Shing, CNBC's, They've, there're, Shing Organizations: BNP, Treasury, U.S, U.S . Federal, U.S ., Morningstar Locations: U.S

REUTERS/Mohammad... Acquire Licensing Rights Read moreDHAKA, Nov 1 (Reuters) - Bangladesh's main opposition party will boycott the next general election if Prime Minister Sheikh Hasina does not make way for a neutral government to conduct the poll, two party leaders said, amid a crackdown on opposition politicians and deadly protests. "The intensified crackdown on opposition party leaders and protesters over the weekend signals an attempt at a complete clamp-down on dissent," said Yasasmin Kaviratne, Amnesty's regional campaigner for South Asia. Hasina's main rival and two-time premier, BNP leader Khaleda Zia, is effectively under house arrest for what her party calls trumped-up corruption charges. Shakil Ahmed, an assistant professor at Jahangirnagar University in Dhaka, said street violence had become "regular in Bangladesh during the transfer of power". Reporting by Krishna N. Das in New Delhi and Ruma Paul in Dhaka; Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

Persons: Sheikh Hasina, Hasina, Abdul Moyeen Khan, Zahir Uddin Swapon, Yasasmin Kaviratne, Khaleda Zia, BNP's, Tarique Rahman, Shakil Ahmed, Krishna N, Ruma Paul, Raju Gopalakrishnan Organizations: Bangladesh Nationalist Party, BNP, REUTERS, Reuters, Amnesty, Police, Jahangirnagar University, Das, Thomson Locations: Dhaka, Bangladesh, Mohammad, DHAKA, United States, Canada, India, South Asia, New Delhi

☆ BNP Paribas posts in-line Q3 profits as trading declines
▼ + stars: | 2023-10-26 | by ( ) www.cnbc.com time to read: +2 min

BNP Paribas , the euro zone's biggest bank, posted in-line quarterly results on Thursday, as a jump in corporate financing services offset the continued retreat in trading revenue. Group sales over the three-month period ending in September rose by 4% to 11.58 billion euros, slightly above the 11.52 billion-euro consensus. Germany's Deutsche Bank reported a 12% drop in such revenue for the period, while Britain's Barclays reported a 13% decrease. BNP set aside 734 million euros for credit losses, below the 815 million euros expected by analysts. It also completed more than 85% of its 5 billion-euro share buyback program in 2023, equivalent to about 7% of its market capitalisation.

Persons: Jean, Laurent Bonnafe Organizations: BNP, French, Deutsche Bank, Barclays, Bank of Locations: U.S, Ukraine, Bank

☆ Exclusive: BNP Paribas to track UK staff to enforce office attendance
▼ + stars: | 2023-09-28 | by ( Sinead Cruise | ) www.reuters.com time to read: +3 min

LONDON, Sept 28 (Reuters) - BNP Paribas (BNPP.PA) has told London-based staff it will track their entry-gate swipes against logins to the bank's computer network to ensure employees meet targets for working from the office, a staff memo seen by Reuters shows. BNP employs more 4,500 people in Britain, with London regarded as its "second headquarters" after Paris, according to its website. BNP's memo, presented in the format of a Q&A, said staff would not be able to opt out of the tracking. The bank's USA & Canada divisions have also updated their policy to include "visibility into in-office presence of staff monitoring". While it sympathised with staff whose commutes were impeded by adverse weather or industrial action affecting London's public transport systems, the memo advised staff those days would still count as "in office" working days.

Persons: logins, Sinead Cruise, Barbara Lewis Organizations: BNP, Reuters, London, JPMorgan, Canada, Staff, Thomson Locations: London, Britain, Paris, COVID

El Salvador's President Nayib Bukele speaks during a ceremony to lay the first stone of a new public hospital, in San Salvador, El Salvador June 15, 2023. El Salvador's debt repurchases last year and a still-light payments calendar were behind a rally that shrank the premium to hold Salvadoran government debt (.JPMEGDELSR) from above 3,200 basis points in July last year to about 1,000 a year later. Katrina Butt, a senior economist at AllianceBernstein, said that even as the size of the investment is yet to be made public, "Google Cloud's announcement could significantly improve macro fundamentals in El Salvador over time". "Though outperformance of El Salvador has been impressive we think the carry is still attractive given the low default risk." BNP's Marshik said the next leg of the rally could come from good news on El Salvador's relationship with the International Monetary Fund - where the United States is the largest shareholder.

Persons: Nayib Bukele, Jose Cabezas, Nathalie Marshik, Katrina Butt, Shamaila Khan, BNP's Marshik, Siobhan Morden, Rodrigo Campos, Nelson Renteria, Angus MacSwn Organizations: El, San Salvador , El, REUTERS, SALVADOR, Reuters, BNP Paribas, Google, United States, U.S . Embassy, Peace Corps, Central American, U.S, Asia Pacific, UBS Asset Management, International Monetary, IMF, Santander US Capital Markets, Thomson Locations: San Salvador ,, San Salvador , El Salvador, El Salvador, America, Peace, El Salvador's, Asia, United States

☆ The Fed will prove it's done enough by the November meeting, says BNP's Carl Riccadonna
▼ + stars: | 2023-09-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed will prove it's done enough by the November meeting, says BNP's Carl RiccadonnaCarl Riccadonna, BNP Paribas Markets 360 chief U.S. economist, and Ron Insana, chief market strategist at Dynasty Financial Partners, join 'Power Lunch' to discuss the Fed, August jobs report numbers and what it means for the markets.

Persons: BNP's Carl Riccadonna Carl Riccadonna, Ron Insana Organizations: BNP, Financial Partners

☆ Bangladesh opposition holds protests to demand resignation of PM
▼ + stars: | 2023-07-28 | by ( Ruma Paul | ) www.reuters.com time to read: +3 min

REUTERS/Mohammad Ponir HossainDHAKA, July 28 (Reuters) - Tens of thousands of supporters of Bangladesh’s main opposition party rallied in the capital on Friday to demand Prime Minister Sheikh Hasina’s resignation and call for general elections to be held under a caretaker government. This can only be achieved through a free and fair election, which is not possible under the current regime," senior BNP leader Abdul Moyeen Khan told Reuters. BNP supporters joined the rally in Dhaka from different parts of the country amid allegations of obstructions by police. The opposition and rights groups have criticised the government for cracking down on anti-government protests. Concern flared after accusations of vote-rigging and the targeting of the political opposition marred national elections in 2014 and 2018.

Persons: Mohammad Ponir Hossain, Sheikh Hasina’s, Khaleda Zia, Hasina, Abdul Moyeen Khan, Sana Ullah, Mirza Abbas, Khaleda, Sheikh Hasina, Ruma Paul, Hugh Lawson Organizations: Bangladesh Nationalist Party, BNP, Bangladesh Awami League, REUTERS, Reuters, Hasina’s Awami League, Thomson Locations: Naya Palton, Dhaka, Bangladesh, Mohammad Ponir Hossain DHAKA, Chittagong, United States

☆ BNP Paribas beat estimates on debt financing, cost management
▼ + stars: | 2023-07-27 | by ( ) www.cnbc.com time to read: +3 min

BNP Paribas , the euro zone's biggest bank, beat estimates in the second quarter as the corporate debt financing business and strong cost management partly offset a slump in securities trading. Group revenue fell 1.5% to 11.4 billion euros, also above expectations, while the cost of risk — money put aside for failing loans - came in lower than expected at 689 million euros. By contrast, sales from global banking activities within CIB - which comprise bond issues, syndicated loans and cash management — jumped by 17.5% in the second quarter at constant scope and currencies. BNP's bottom line in the second quarter also suffered from a set of exceptional items that totaled 723 million euros after tax. These included an 125 million euro provision for an unspecified litigation.

Persons: —, Italy's UniCredit Organizations: BNP, Royal Bank of Canada, Bank of, CIB, European Central Bank, Spain's Santander Locations: Bank, FICC, France

The French lender's second-quarter net income fell 4.9% on a reported basis to 2.81 billion euros ($3.12 billion), beating the 2.49 billion euro analyst consensus compiled by the company. Group revenue fell 1.5% to 11.4 billion euros, also above expectations, while the cost of risk - money put aside for failing loans - was lower than expected at 689 million euros. BNP's bottom line also suffered from a set of exceptional items that totalled 723 million euros after tax. These included an 125 million euro provision for unspecified litigation. The group's 5 billion euro share buyback programme will proceed as planned, it confirmed, adding that the second tranche of 2.5 billion euros had been approved and will be launched from early August.

Persons: Italy's, Mathieu Rosemain, Christopher Cushing, Jason Neely, David Goodman Organizations: BNP, Royal Bank of Canada, Bank of, European Central Bank, Spain's Santander, Thomson Locations: PARIS, Bank, France

☆ France's BNP Paribas doubles profits in first quarter with Bank of the West sale
▼ + stars: | 2023-05-03 | by ( ) www.cnbc.com time to read: +1 min

BNP Paribas , the euro zone's biggest bank, saw profit more than double in the first quarter from a year ago, bolstered by the sale of its U.S. retail division while revenue beat estimates. This allowed the French bank to beef up its capital and liquidity buffers, at a time when European lenders strive to restore confidence in a sector battered by turmoil. In securities trading, revenue edged down 1.8% but still performed better than some peers including Deutsche Bank, which saw fixed-income trading decline by 17% in the first quarter. At U.S. bank Goldman Sachs, first-quarter sales from fixed income, currency and commodities (FICC) trading, usually a bright spot, plunged 17% to $3.93 billion, while equity trading revenue sank 7% to $3.02 billion. BNP's FICC trading over the period was up 9%.

Royal Bank of Canada analysts said the results pointed to a strong performance at BNP's trading arm and good cost control. In securities trading, revenue edged down 1.8% but still performed better than some peers including Deutsche Bank (DBKGn.DE), which saw fixed-income trading decline by 17% in the first quarter. At U.S. bank Goldman Sachs, first-quarter sales from fixed income, currency and commodities (FICC) trading, usually a bright spot, plunged 17% to $3.93 billion, while equity trading revenue sank 7% to $3.02 billion. The first quarter net income, group share amounted to 4.44 billion euros, in line with expectations, and up from 1.84 billion a year earlier. The first tranche of 2.5 billion euros was approved in March, a sign analysts deemed reassuring as it took place shortly after the collapse of Credit Suisse.

☆ Inflation looks hard to pull down amid fast wage growth, says BNP's Yelena Shulyatyeva
▼ + stars: | 2023-03-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInflation looks hard to pull down amid fast wage growth, says BNP's Yelena ShulyatyevaEthan Harris, head of global economics at Bank of America Global Research and Yelena Shulyatyeva, U.S. economist at BNP Paribas, joins 'The Exchange' to discuss the market response to the SVB hearing, the regulatory response to the bank crisis, and credit turmoil replacing interest rate hikes.

☆ BNP Paribas aims to raise age limit for chairman -filing
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +1 min

The French lender will put a resolution to shareholders seeking to raise the age limit of its non-executive chairman role to 75 from 72, according a formal notice filed on Monday to authorities. BNP Paribas will also ask shareholders allow the board, once the 75 age threshold is reached, to prolong the chairman's mandate by an additional year. Born in 1950, Lemierre was named BNP Paribas' chairman in 2014, replacing Baudouin Prot. He's a former president of the European Bank for Reconstruction and Development and led the French Treasury between 1995 and 2000. Reporting by Mathieu Rosemain; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

"BNP Paribas continues to write new blank cheques to the largest fossil fuel companies without setting any conditions for an oil-free, gas-free ecological transition," said Alexandre Poidatz, advocacy officer at Oxfam France. In a statement sent to Reuters, BNP said it regretted the advocacy groups chose litigation over dialogue and that it could not stop all fossil-fuel financing right away. "We're convinced that the ecological transition is the only viable path for the future of our economies," it said. "We are focused on our fossil-fuel exit path, accelerating financing for renewable energies and supporting our customers, without whom the transition cannot be made." No court in France has yet forced a firm to change its ways on the basis of this law.

☆ Is Asia's bull market over? Strategists say there's room for stocks to rally further
▼ + stars: | 2023-02-22 | by ( Jihye Lee | ) www.cnbc.com time to read: +4 min

The region's rally – supported by China's reopening – seems to have hit a wall, but economists say MSCI's broadest index of Asia-Pacific shares outside Japan has further room to run. I still expect the Asian stock markets will outperform their U.S. peers after a short-term correction on China's reopening in 2023. "Modest valuations, light investor positioning and good fundamentals are buffers that should help Asian stocks withstand near-term volatility," BNP's Liu said. She added that domestic demand in the region will be the "driver of economic growth," and she expects trade volumes to recover with China's market reopening. "I still expect the Asian stock markets will outperform their U.S. peers after a short-term correction on China's reopening in 2023," she said.

☆ Analysis: Why China's reopening isn't inflationary
▼ + stars: | 2023-02-16 | by ( Rae Wee | ) www.reuters.com time to read: +6 min

However, economists see no challenge to global inflation, pointing instead to Chinese President Xi Jinping's new blueprint for self-sufficiency, broader prosperity and a socialist ideology as checks on big-ticket shopping. The slack in China's labour markets and Beijing's growth priorities will also take the edge off inflation, they say. "I don't think China's recovery or the reopening will cause any significant global inflation," said Chi Lo, senior market strategist for Asia Pacific at BNP Paribas Asset Management. BNP's portfolio managers are positioning for China's rebound to boost regional tourism, but not export price rises for manufactured goods. "I'm very much of the view that (China's reopening) will be positive for the world in terms of either not being too inflationary, but more widely having deflation in some key new goods and services," Westpac senior economist Elliot Clarke said.

Global markets revenue jumped by about 24% in October-December, the euro zone's biggest bank said on Tuesday, fuelled by a 45% leap in revenue from trading in commodity derivatives, rates, foreign exchange and emerging markets. BNP's 45% sales growth in FICC trading (fixed income, commodities, currencies) compared with 25% growth at peers, analysts at Barclays said. Shares in BNP Paribas (BNPP.PA) were up as much as 4% by 1432 GMT on Tuesday, outperforming the euro zone bank index (.SX7E) and valuing the group at more than 78 billion euros ($83 billion). "These are upward revisions that are quite significant and not so frequent," Bonnafe told reporters in a call. BNP Paribas' net income fell by 6.7% to 2.15 billion euros.

RAISED TARGETSBNP's solvency ratio has notably benefited from the $16.3 billion sale of the group's U.S. retail business Bank of the West. The transaction, closed on Feb. 1, will fund the bulk of the share buyback, that will be carried out in two tranches. Recent central bank rate hikes are set to bolster earnings from loans, especially if the spectre of a recession on the continent recedes. "We are setting ambitious financial targets and pursuing our technological advances," Chief Executive Jean-Laurent Bonnafé said. ($1 = 0.9326 euros)Writing by Mathieu Rosemain; Editing by Ingrid Melander, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

[1/2] BNP Paribas logo and stock graph are seen in this illustration taken, May 1, 2022. Investment banks typically use standardised job titles to mark career milestones, starting at analyst and culminating at managing director. "BNP Paribas is communicating corporate titles to employees in the London Branch that reflect their existing roles to standardise terminology across all business lines," a spokesperson told Reuters. A broker at BNP Paribas in London was awarded 2 million pounds ($2.45 million) in January, one of the biggest payouts in a UK equal pay suit. Deploying standardised job titles should make it easier for employees to understand where they rank on the bank's career ladder.

☆ Europe's BNP Paribas appoints senior executives to Global Markets Americas division
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +1 min

Dec 7 (Reuters) - BNP Paribas SA (BNPP.PA) has appointed several senior executives to its Global Markets Americas division, the European bank said on Wednesday, in a move to further consolidate its presence in the United States. The French bank appointed former Morgan Stanley executive Kunal Maini as the co-head of Global Macro - Americas and he will be responsible for globalizing the US Rates franchise. In addition, BNP also hired a string of executives to strengthen its credit portfolio at a time when global fixed income markets have come under immense pressure from soaring inflation and outsized interest rate hikes. John Hanisch was appointed the co-head of Secondary Credit Americas and Global Head of Securitized Products Trading; Charlie Shah the Head of IG & CDS Trading Americas and Bo Bazylevsky the Head of LatAm Flow Credit Trading. BNP's move to hire across divisions sharply contrasts global banks including HSBC Holdings PLC (HSBA.L) and Goldman Sachs (GS.N), which axed jobs to rein in costs.

☆ Amazon's business model struggles in an inflationary and recessionary environment, says BNP's Slowinski
▼ + stars: | 2022-12-07 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmazon's business model struggles in an inflationary and recessionary environment, says BNP's SlowinskiStefan Slowinski, BNP Paribas analyst, and Arun Sundaram, CFRA analyst, join 'The Exchange' to debate the bear and bull case for trading Amazon stock.

☆ European companies are tapping bond markets again as investors return
▼ + stars: | 2022-11-22 | by ( Chiara Elisei | ) www.reuters.com time to read: +4 min

German housing giant Vonovia (VNAn.DE) last week raised 1.5 billion euros ($1.54 billion) amid strong investor demand in primary markets, a bright spark for a beleaguered property sector. Also noteworthy was a 750 million euro hybrid bond sale from Spanish telecoms firm Telefonica (TEF.MC), the first offering of its kind in Europe in two months. There were no hybrid bond deals in June and July, and only one transaction in September before Telefonica's offering. New hybrid bond sales total just over 10 billion euros so far this year, compared with 30 billion euros for the whole of 2021. In the broader market, investment grade corporate issuers have raised 258 billion euros so far this year compared with 322 billion euros in 2021, according to Refinitiv data.

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