Bloomberg News

BNP Paribas’s CIB Unit Had Good Start in 2012, CEO Bonnafe Says

February 15, 2012

Feb. 15 (Bloomberg) -- BNP Paribas SA’s corporate- and investment-banking unit had a good start of the year, Chief Executive Officer Jean-Laurent Bonnafe said.

“Progressively the situation throughout the euro-zone should stabilize” after the Greek crisis is solved, Bonnafe said in an interview with Bloomberg Television today. He didn’t elaborate further on business trends for the division.

“Especially the second half of last year was a quite difficult period in terms of markets,” Bonnafe said. “We believe that with the resolution of the Greek situation, then we should enter a new period.”

BNP Paribas isn’t planning any further job reductions at the corporate- and investment-banking unit, Bonnafe said today. BNP Paribas in November said it will cut about 1,400 jobs at the division.

To contact the editor responsible for this story: Fabio Benedetti-Valentini at fabiobv@bloomberg.net


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