A recent press report said that BNP Paribas does not need any financial support and has no knowledge of any move by German engineering group Siemens to withdraw deposits from a large French bank.
Mr. Michel Perebeau, Chairman of the bank said that the bank has no need at the moment for any recapitalization. When asked whether Siemens had withdrawn deposits from a large French bank two weeks ago and transferred them to the European Central Bank he said that he was not aware of the issue. Reports also said that it was not clear from which bank Siemens had withdrawn the deposits.
BNP Paribas is a European leader in global banking and financial services and one of the strongest banks in the world (Rated AA by Standard & Poor’s i.e. 3rd rating on a scale of 22). The core banking teams in India is involved in Term Lending & Working Capital Finance through rupee term loans, foreign currency loans for external commercial borrowings and extending service to clients through Working Capital Financing facilities.