BNP Paribas targeting investments from German SMEs into Asean
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
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.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
