French banking major BNP Paribas is planning to expand its activities in German market and the bank is expected to make a formal announcement when it announces its second-quarter results at the end of July.
The bank’s move is part of its efforts to revive growth, after over two years of restructuring aimed at increasing its capital buffers to absorb potential future losses and coping with a difficult economy.
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BNP Paribas has already restructured its management team at its German operations as it seeks to make a fresh push in Europe’s largest economy to offset recession at home.
Currently, BNP Paribas employs about 3,000 people in Germany, where it offers leasing, specialty insurance, asset management, real estate and securities services. The bank also runs a joint venture for consumer credit with German bank Commerzbank.
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By GlobalData
