The French government has announced the second stage of the plan to support lending growth within the economy*. This second stage offers different options that allow the banks to receive additional Tier one capital in the form of either hybrid debt (TSSDI) or preferred shares, which do not carry voting rights, are eligible to core Tier 1 capital and are not dilutive. It also offers the option to transform the hybrid debt (TSSDI) issued as part of the first stage of the plan into preferred shares.
BNP Paribas pursues its commitment in favour of the French economy. The Group is examining with interest the terms and conditions of this new scheme, in which it could take an additional share of 2.55bn€. The principle and the form of its participation will be submitted for decision to the Board of directors at its next meeting.
BNP Paribas confirms that no capital increase in the form of ordinary shares is under consideration.
*French Government press release available on : http://www.minefe.gouv.fr/
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is a European leader in global banking and financial services and is one of the 3 strongest banks in the world according to Standard & Poor’s. The group is present in 85 countries, with more than 171,000 employees, including 131.000 in Europe. The group holds key positions in three major segments: Corporate and Investment Banking, Asset Management & Services and Retail Banking. Present throughout Europe in all of its business lines, the bank’s two domestic markets in retail banking are France and Italy. BNP Paribas also has a significant presence in the United States and strong positions in Asia and the emerging markets.
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