BNP Paribas targeting investments from German SMEs into Asean

Singapore

BNP Paribas is targeting investment flows from Germany's Mittelstand - the bloc of small and medium businesses in the eurozone's largest economy - into Asean, tapping into a niche space that plays to its European heritage, said its top executive in Asia.

The bank plans to grow by as much as 10 per cent in revenue in the next few years, buoyed by companies tapping corridors between South-east Asia and North Asia, as well as Europe, said Pierre Veyres, regional head for South-east Asia and CEO of the bank's Singapore office, in an interview with The Business Times. The Asia-Pacific region is expected to generate 4 billion euros (S$6.3 billion) in revenue by 2020 for the bank, up from 3 billion euros posted in 2016, with South-east Asia playing a significant part of that strategy, said Mr Veyres.