This will see the current representative office, based in Melrose Arch Johannesburg, to be converted into a full commercial branch offering corporate and investment banking services. The news marks an important milestone for BNP Paribas in South Africa, as it enables the bank to expand the range of products and services that it offers. The bank will continue to focus upon its existing strengths, whilst developing new relationships with core clients in South Africa and the Southern African Development Communities.
Alain Papiasse Head of BNP Paribas Corporate and Investment Banking (CIB) commented:
“We are delighted to have received this news from SARB. This is a milestone for BNP Paribas in South Africa. We look forward to developing our activities in line with this. Our recent investment in Cadiz Securities is one example of our commitment to develop our business in the country and we will work closely with our clients to expand our offering to best meet their needs.”
About BNP Paribas
BNP Paribas (www.bnpparibas.com) has a presence in 80 countries with nearly 200,000 employees, including more than 150,000 in Europe. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail banking model across Mediterranean basin countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Investment Banking and Investment Solutions activities,
BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas and solid and fast-growing businesses in Asia.