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BNP Paribas looking for bigger stake in Chinese bank.

Global Banking News-30 June 2008-BNP Paribas looking for bigger stake in Chinese bank(C)2008 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 30 June 2008(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

France-based BNP Paribas (BNP.PA) has indicated that it was looking out for a bigger stake in China-based Bank of Nanjing (SSZ:601009).

The bank said that it is willing to take a higher stake in the Chinese bank. The bank made the announcement after the completion of its conversion into a local corporate bank in China. It is believed that the bank may be planning to increase its stake in the Chinese bank to 19.2 percent.

The French bank is expected to keep a close relationship with the Bank of Nanjing on consumption loans, asset management, enterprises and investment banking, as well as risk and organization management.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

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Publication:Global Banking News (GBN)
Date:Jun 30, 2008
Words:168
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