Feature
French Banking Giant Is Looking Like ‘the JPMorgan of Europe’
Low-drama BNP Paribas is making a big push abroad as its rivals struggle to rebound.
Jean-Laurent Bonnafé has heard all the reports, all the speculation. For months now, the market has been buzzing with the possibility that his bank, BNP Paribas SA, might take a run at acquiring a beleaguered competitor,Commerzbank AG. And why not? The Frankfurt-based bank has been struggling to find its footing even as France’s biggest lender, brimming with profits, has been pushing hard into Germany’s industrial heartland on the hunt for corporate clients.
So is it true?