BNP Paribas (China) Ltd today announced that international ratings agency Standard and Poor’s has reaffirmed an “A+” rating with stable outlook.
The ratings agency, in its comments, noted BNP Paribas (China) Ltd’s “good asset quality, strong capitalization; focus on top-tier large corporate lending; the benefits it receives from parent in senior personnel, risk management, and a strong franchise in corporate and investment banking”.
S&P’s regards BNP Paribas (China) Ltd as a core subsidiary of BNP Paribas, one of the six strongest banks in the world according to S&P. BNP Paribas (China) Ltd plays a pivotal role in implementing BNP Paribas’s strategy in China, one of the parent’s ambitious long-term growth targets.
This rating puts BNP Paribas (China) Ltd amongst the best rated locally-incorporated subsidiary of foreign banks in China rated by S&P.
Attachment: S&P Ratings Direct (464 ko)
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is one of the 6 strongest banks in the world according to Standard & Poor’s*. With a presence in 85 countries and more than 205,000 employees, 165,200 of which in Europe, BNP Paribas is a global-scale European leader in financial services. It holds key positions in its three activities: Retail banking, Investment Solutions and Corporate & Investment Banking. The Group benefits from its four domestic markets: Belgium, France, Italy and Luxembourg. BNP Paribas also has a significant presence in the United States and strong positions in Asia and the emerging markets.
*Within its peer group
About BNP Paribas (China) Ltd
BNP Paribas’s presence in China dates back to 1860 when it opened its first office in Shanghai. Since then, the Bank has almost had an uninterrupted presence in the country. In 2008, BNP Paribas converted the branches in Beijing, Tianjin and Guangzhou into branches of its existing subsidiary, BNP Paribas (China) Limited, which is headquartered in Shanghai. The conversion gives the Bank the flexibility to conduct the full range of banking business with all classes of customers in China. The BNP Paribas Shanghai branch is a foreign-currency wholesale branch under the BNP Paribas Group. BNP Paribas (China) Ltd and its branches officially started commercial operations on 1 July 2008. BNP Paribas also owns a 33 per cent stake in an asset management joint venture, SYWG BNP Paribas Asset Management Co. Ltd, and a 12.6 per cent stake in Bank of Nanjing.
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