BNP Paribas to take full tax hit on $8.97bn fine

BNP Paribas will not receive any tax relief on its record-setting $8.97bn fine and will have to take the full hit to its second quarter results. As it digests the fine and one year ban from dollar clearing in its oil and gas business, the extent of the ordeal’s impact on BNP Paribas’s plans is being closely evaluated by market participants the world over.