BNP Paribas’ share price rose dynamically this morning, with a gain of 1.80% to 56.80 euros by mid-morning. The French bank is in advanced talks with Erste Group Bank to sell its consumer credit division in the Czech Republic, according to Bloomberg sources. The two financial institutions are finalizing an agreement which could be announced in the coming weeks. However, agency sources say negotiations are ongoing and could still be delayed or canceled.
This sale is part of the restructuring of the consumer credit division of BNP, due to the deterioration of the economic outlook and high inflation, which have a negative impact on the profitability of the activity. BNP has already sold a similar business in Bulgaria and is considering selling other assets in emerging markets, including Romania and Hungary.
Did you like this article ? Share it with your friends with the buttons below.
