BNP Paribas Asia-Pacific's strategy bearing fruit

Bank is confident its revenues from the region are on track to meet or even exceed expectations, says CEO.

Published Sun, Oct 26, 2014 · 09:50 PM

EVEN though there is some pessimism that Asia-Pacific growth is slowing faster than expected amid anaemic global growth, BNP Paribas Asia-Pacific's business is gaining momentum as its strategic focus on corporate, investment and private banking begins to bear fruit. As such, the bank is confident that its revenues from the region are on track to meet and maybe exceed expectations, said chief executive officer Jean-Laurent Bonnafe.

"There is a high probability we'll get above target," said Mr Bonnafe in a recent interview, referring to a target set in late 2012 to grow Asia-Pacific revenue of two billion euros (S$3.2 billion) representing 14 per cent of the group's non-retail revenue to three billion euros or about 16 per cent by 2016.

In 2013, BNP reported 2.5 billion euros in revenue from the region and for the first half of this year, Asia-Pacific revenues have already hit 1.4 billion euros, about 18 per cent of non-retail business.

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