PARIS (Reuters) – BNP Paribas is considering a restructuring of its consumer credit subsidiary to respond to changes in use and the economic context, the bank announced on Friday, confirming information from Bloomberg.
“In a changing consumer credit sector, both in terms of uses and because of the economic context, BNP Paribas Personal Finance presented to the social partners its strategic thoughts regarding the refocusing of its activities and the adaptation of its operating model,” the bank said in a statement to Reuters.
According to Bloomberg, BNP Paribas could decide to sell activities of its subsidiary or begin to reduce some of its loan portfolios.
A wholly-owned subsidiary of BNP Paribas, BNP Paribas Personal Finance is present in around thirty countries and employs nearly 20,000 people.
(Tassilo Hummel report, written by Blandine Hénault, edited by Bertrand Boucey)
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