Still ‘no rush’ to AT1 for BNPP, but speculation endures
BNP Paribas is in no rush to issue new style additional tier one capital, said chief financial officer Lars Machenil, with the bank taking a record-setting $8.97bn fine on the chin on Tuesday. The fine for helping clients evade US sanctions will trim the bank’s fully loaded common equity tier one ratio by 60bp to 10%, still higher than many of its European competitors.
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